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Raising capital is often seen as one of the biggest challenges startups have growing up. And rightfully so, getting your hands on runway capital is tricky business, though it doesn’t have to be. Y Combinator founder Paul Graham once jotted down the top characteristics of venture capitalists, coining it the Hackers Guide to Investors.
Although Graham’s pointers are nearly a decade old, he does make a few good ones you can take learn from.
For instance, he explains that while money is important, it’s not as important as the expertise that comes with it. “What separates the great investors from the mediocre ones is the quality of their advice. Most investors give advice, but the top ones give good advice,” he wrote.
Some other golden nuggets of advice are the ability for entrepreneurs to sell their teams. As Clive Butkow from Grovest explained, Investors want to invest in brilliant people — it’s that simple. Also, it’s crucial to not only prove and demonstrate your product market fit, but the ability to keep selling that product.
Below are 23 easy-to-remember tips you should keep in your pocket (or your office wall) if you’re looking to close your next deal.
For the full lowdown behind Graham’s reasoning, check out his blog here.
Infographic by Funders and Founders.