Jay Roberts gives three steps for raising capital: focus on a strong deal first, find a mentor to learn the nuances, and skip fighting over the last dollar to build a reputation for repeat deals.
For people who are learning how to raise capital or starting in raising capital and don't have extensive relationships, what's your number one piece of advice for how to raise capital?
It starts with the deal. There's too many people going after bad deals. We are inundated with information, and so your deal has to be compelling. Understand what is a good deal. Do the extra work. Don't settle. Step 2, find a mentor. You're not going to learn some of these things on your own. And don't be greedy. Don't fight for the last dollar. Don't think of it as doing just one deal. Think about building a reputation where you're going to do many deals over time.