UK angel investors collectively invest £1.5 billion per year and are believed to be the largest source of investment for start-up and early-stage companies. Angel investors can bring cash to your business along with contacts and advice too. 

In this episode, I hear from Mathilde Lacombe, founder of French skincare and supplement brand AIME. Having previously co-founded beauty subscription service Joliebox, Mathilde founded AIME in 2018 to help others overcome similar skincare challenges to hers. AIME blends nutrition, supplements and cosmetic skincare and, amazingly, achieved €3 million in revenue in its first twelve months. 

With many founders wondering which type of investor to partner with, Mathilde shares how angel investment has helped her scale AIME and her advice on how to pitch to angel investors. 

Mathilde’s advice:

• Angel investors tend to be experts in their field, and will be more interested in you as an entrepreneur and what you will bring to that field that’s new
• VCs will be more focussed on the numbers and accurate forecasting
• When pitching to an angel investor it will be important to make an impression as a story-teller and an innovator with a vision
• The best angel investors are those who are entrepreneurs themselves
• It’s vital that you have a relationship with them in which you are comfortable asking for advice; you need this as much as you need their investment
• Ideally you will be able to consult them regularly
• Make a list of your dream investors/advisers
• Don’t be afraid to ask for introductions; use LinkedIn and network to try to gain first-hand introductions
• Be content with refusals; there is nothing lost
• Don’t waste their time; they are usually busy people with a job as well as an interest in investing
• Ask outright for what you need; explain that you’ll need advice as well as investment
• You can always start with small amounts which may gradually increase if they have confidence in you; you may not need to progress to VC investment
• Angel investors will usually understand your long-term vision and be less fixated on end dates
• Finally, if you don’t need investment, don’t look for it

If you'd like to contact Mathilde you can reach her on [email protected]

FF&M enables you to own your own PR. Recorded, edited & published by Juliet Fallowfield, 2023 MD & Founder of PR & Communications consultancy for startups Fallow, Field & Mason.  Email us at [email protected] or DM us on instagram @fallowfieldmason. 

Let us know how your start up journey is going or if you have any questions you would like us to discuss in future episodes. 

FF&M recommends: 

• LastPass the password-keeping site that syncs between devices.
• Google Workspace is brilliant for small businesses
• Buzzsprout podcast 'how to' & hosting directory

Text us your questions for future founders. Plus we'd love to get your feedback, text in via Fan Mail

Support the show

It has been reported that the value of UK venture capital deals in quarters one to three of 2023 fell by 43.1% year-on-year while the number fell by 25.9% in the same period. However, VC deals are still being struck by innovative businesses. 

In this episode, I speak with Steve Tidball, co-founder and CEO of Vollebak, the material science-driven clothing brand. Having co-founded in 2015 with his twin brother Nick, the brand has raised over $10m in outside funding, led by the London-based venture firm Venrex, with participation from Airbnb co-founder Joe Gebbia, and Headspace CFO Sean Brecker, among others. This allowed Vollebak to create the world’s first solar-charged jacket and the first computer-programmable clothing. 

Given the uncertainty around raising VC investment, Steve offers his advice on the best ways to pitch to a VC fund and shares how his business has used VC investment to scale. 

Steve's advice:

• Build your network (if you can bring one from a previous career so much the better)
• Be original to be noticed
• Be prepared to tolerate some failure
• Be aware that Venture Capitalists tend to invest in just one area/type of business
• VCs are typically willing to take earlier and relatively speculative risks
• Whereas private equity investors are risk-averse
• And angel investors will take on even greater risks than VCs
• Another way of raising funds can be crowd-funding
• Because a VC can take over control, it’s important that you are compatible (apply the flat-mate test!)
• It’s a mutual commitment; they will care about your success, and help in a crisis
• It’s useful to read up on how big businesses work (always expect a crisis)
• You must learn to communicate quickly and have a coherent, compelling story which you can express in 30 seconds
• You need a good idea which will elicit a question in return
• Eventually there will probably be a full or partial sale/industry buy-out; know in advance what the likely time period for this is
• Always have an idea of what you want to achieve in the long term
• Allow your subconscious brain the chance to work things out (by exercise, meditation etc.)

You can reach Steve on [email protected]

FF&M enables you to own your own PR. Recorded, edited & published by Juliet Fallowfield, 2023 MD & Founder of PR & Communications consultancy for startups Fallow, Field & Mason.  Email us at [email protected] or DM us on instagram @fallowfieldmason. 

Let us know how your start up journey is going or if you have any questions you would like us to discuss in future episodes. 

FF&M recommends: 

• LastPass the password-keeping site that syncs between devices.
• Google Workspace is brilliant for small businesses
• Buzzsprout podcast 'how to' & hosting directory
• Canva has proved invaluable for creating all the social media assets and audio bites.

MUSIC CREDIT Funk Game Loop by Kevin MacLeod.  Link &  Licence

Text us your questions for future founders. Plus we'd love to get your feedback, text in via Fan Mail

Support the show

When raising investment, it’s important to present prospective investors with your financial information as clearly as possible. This is where a data room comes into play. 

In this episode, I speak to Laura Fullerton, the founder and CEO of Monk, creators of the world’s first smart ice bath and cold water therapy app. After discovering that ice baths helped her regain control of her physical and mental health, Laura launched Monk to make cold water therapy more accessible. 

About to close a £2 million round, Laura breaks down what a data room is and what needs to be included in yours to successfully raise investment. 

Laura’s advice: 

• Setting up a virtual data room is a confidential and controlled way of sharing information with potential investors
• It’s efficient and helps them make a quick decision, which is what you want
• It’s a way to show you are competent and professional
• It can highlight your potential
• It’s an easy way for them to do due diligence
• Security is important and it’s wise to ask them to sign an NDA before having access to the data room
• Doc Set enables you to send them a tailored choice of links
• If you have your pitch deck on Doc Set you will have version control over it
• It also enables you to see which pages potential investors have been paying most attention to - so that you get a sense of what is important to them, and this will help you build a relationship with them
• Laura suggests you use Calendly
• Having a data room sets a professional tone; Laura has five sections in hers - business summary / financial model / product development folder / people and contracts / marketing and PR.  This makes it easy for investors to understand your business
• You need to protect yourself from the wrong investors
• Interrogate them as to what value they can bring apart from capital; ask for specifics and don’t be satisfied with generalisations
• Remember that fund-raising never stops, even if it is just building relationships with people who may invest in the future
• Try to go to the right events where you will build relationships and friendships for the future - founders always need support

If you'd like to contact Laura you can find her @discovermonk on Instagram.

FF&M enables you to own your own PR. Recorded, edited & published by Juliet Fallowfield, 2023 MD & Founder of PR & Communications consultancy for startups Fallow, Field & Mason.  Email us at [email protected] or DM us on instagram @fallowfieldmason. 

Let us know how your start up journey is going or if you have any questions you would like us to discuss in future episodes. 

FF&M recommends: 

• LastPass the password-keeping site that syncs between devices.
• Google Workspace is brilliant for small businesses
• Buzzsprout podcast 'how to' & hosting directory
• Canva has proved invaluable for creating all the social media assets and audio bites.
• For contracts check out Law Depot.

MUSIC CREDIT Funk Game Loop by Kevin MacLeod.  Link &  Licence

Text us your questions for future founders. Plus we'd love to get your feedback, text in via Fan Mail

Support the show

According to Seedrs, investors spend an average of 3 minutes and 44 seconds reviewing a pitch deck so clearly, it’s crucial to create one that is sufficiently brief yet still conveys your business proposition to your target audience.

In this episode, I hear from Venetia Archer, founder & CEO of Ruuby, the UK's leading at-home beauty & wellness service founded in 2015.  After identifying a gap in the London market for an on-demand beauty app, Ruuby has grown to become the fashion set’s beloved digital beauty concierge. 

Venetia shares her advice on what a pitch deck should include, how long it should be and the pitfalls to avoid when putting yours together. 

Venetia’s advice: 

• You must outline the product and the mission of the company
• Concentrate on the story & make it make sense
•  But the three vital components must be: the financials: what you want to raise, and on what terms / your team (or the team you hope to acquire when you have the investment) / the market environment and your competitiveness within it
• You may need to use an advisor to help you with the financial modelling
• You obviously can’t expect your modelling to be accurate as there are so many unknowns, it just needs to be plausible
• You can’t expect to tailor the pitch deck to each individual.  You could try a three tiered approach - start with a “teaser deck” just showcasing the main highlights.  Then if someone shows interest follow up with more detailed metrics, and finally if someone is seriously interested give them a thorough financial breakdown
• You may want to invest in some design help to make it look slick
• Always write it yourself, because you know the subject best and it’s a good exercise for you; if necessary you can bounce your ideas off a colleague
• You will get more expert at doing this, and it’s good to practise on potential investors as much as you can
• Always have all materials and information ready to draw upon
• Know in advance which investors you want and set out your intentions, making it clear how much time you expect from them and how much time you are prepared to give them in turn
• General good advice: it’s crucial to have a strong, experienced team as early as you can
• Finally, have the courage of your convictions

FF&M enables you to own your own PR. Recorded, edited & published by Juliet Fallowfield, 2023 MD & Founder of PR & Communications consultancy for startups Fallow, Field & Mason.  Email us at [email protected] or DM us on instagram @fallowfieldmason. 

Let us know how your start up journey is going or if you have any questions you would like us to discuss in future episodes. 

FF&M recommends: 

• LastPass the password-keeping site that syncs between devices.
• Google Workspace is brilliant for small businesses
• Buzzsprout podcast 'how to' & hosting directory
• Canva has proved invaluable for creating all the social media assets and audio bites.
• For contracts check out Law Depot.

MUSIC CREDIT Funk Game Loop by Kevin MacLeod.  Link &  Licence

Text us your questions for future founders. Plus we'd love to get your feedback, text in via Fan Mail

Support the show

Although securing cash is the key objective when raising investment, money isn’t the only thing to consider. Many investors can offer vital support and advice too. 

Michael Tobin OBE is a serial founder, author and non-executive chairman of several international businesses and CEO of technology company Telecity from 2002 to 2015, Michael grew the company from a market cap of £6 million into a FTSE 250 company worth £2 billion. In 2014, Michael was awarded an OBE for services to the UK digital economy. 

Given many founders require more than just an injection of capital when scaling their businesses, Michael shares his advice on how to ask investors for extra support and what help you can reasonably expect from your investors….plus the importance of the cost of umbrellas. 

If you'd like to contact Michael you can reach him via LinkedIn

• Remember that all investors will be looking for different things: return, timeline etc.
• Know your worth; speak from a strong position not a needy one
• Be ahead of the need point; show that you can manage and may not need a great deal now, and your position will be stronger later
• Don’t over-borrow - wait till your valuation increases
• Go in with confidence and foresight
• When looking for investors, consider whether or not they are well-connected; look ahead to the next round and how they could help in the future
• Look for investors who may have contacts to help you expand your business; it’s not all about the cash
• Choose investors with whom you can engage; make sure you’re on the same wavelength
• Be candid with them as to your reasons for choosing them and discuss the many different ways in which they can help you
• Aim to have an independent chairman or mentor who could arbitrate between you and your investors if necessary
• Keep networking; Michael calls it ‘opening doors’.  This builds your reputation and may earn you support in many ways further down the line
• When you are starting out don’t be afraid to fail; you will have less to lose
• Always ask questions; and be prepared to listen carefully and perhaps change your point of view
• Enjoy the challenge!

FF&M enables you to own your own PR. Recorded, edited & published by Juliet Fallowfield, 2023 MD & Founder of PR & Communications consultancy for startups Fallow, Field & Mason.  Email us at [email protected] or DM us on instagram @fallowfieldmason. 

Let us know how your start up journey is going or if you have any questions you would like us to discuss in future episodes. 

FF&M recommends: 

• LastPass the password-keeping site that syncs between devices.
• Google Workspace is brilliant for small businesses
• Buzzsprout podcast 'how to' & hosting directory
• Canva has proved invaluable for creating all the social media assets and audio bites.
• For contracts check out Law Depot.

MUSIC CREDIT Funk Game Loop by Kevin MacLeod.  Link &  Licence

Text us your questions for future founders. Plus we'd love to get your feedback, text in via Fan Mail

Support the show

Having decided to raise investment for your business, it’s important to prepare your financials so that prospective investors can assess the inner workings of your company. Given everyone can find business finances complex to get their heads around, I wanted to talk to someone who didn’t come from a financial background but has totally smashed it in raising investment efficiently for their business. 

In this episode, I hear from Daisy Knatchbull, founder of The Deck, the first women’s-only tailoring house to have a shopfront in Savile Row’s 200-year history. Beloved by the fashion press since its launch in 2019, The Deck represents Daisy’s mission to change tailored clothes for women and offer them a compelling alternative to fast fashion. 

Daisy shares her advice on how to approach finances when you don’t have a background in it, who to bring in to support you and what to be aware of when going into pitch… all before having those extensive investor conversations. 

Daisy’s advice:

• Before you start, it is vital that you have complete belief in what you do.  
• Learn the basics of economics (Daisy used a platform called “Upwork” to school herself)
• Don’t be afraid to ask questions, make the most of mentors
• Research the market and look at other business models
• There is a government tax relief scheme (SEIS) to help investors
• Build a strong pitch deck with at least a three-year (preferably five) projection; explain your business succinctly but assume no prior knowledge on the part of investors
• When you have no business history, no evidence of transactions, it will be harder to raise money because everything is based on estimates; on the other hand, the next time round you will have to justify  your track record and your position
• Try to be choosy and select investors who really believe in you
• Accept failures and learn from them; be transparent with your investors, as no business is perfect and this will gain their respect
• Don’t waste mental energy on worrying about their risk; this is something they have taken on themselves
• Always take confidence from remembering that you are the expert in what you do

If you'd like to contact Daisy you can reach her on Instagram @thedecklondon_

FF&M enables you to own your own PR. Recorded, edited & published by Juliet Fallowfield, 2023 MD & Founder of PR & Communications consultancy for startups Fallow, Field & Mason.  Email us at [email protected] or DM us on instagram @fallowfieldmason. 

Let us know how your start up journey is going or if you have any questions you would like us to discuss in future episodes. 

FF&M recommends: 

• LastPass the password-keeping site that syncs between devices.
• Google Workspace is brilliant for small businesses
• Buzzsprout podcast 'how to' & hosting directory
• Canva has proved invaluable for creating all the social media assets and audio bites.
• For contracts check out Law Depot.

MUSIC CREDIT Funk Game Loop by Kevin MacLeod.  Link &  Licence

Text us your questions for future founders. Plus we'd love to get your feedback, text in via Fan Mail

Support the show

Valuing your business is one of the most important yet challenging aspects of raising investment. It’s important to be realistic while also not underselling your proposition. 

In this episode, I hear from Ed Lee, founder & director of investment and consultancy firm Bowbridge Capital.  Ed and his team work alongside business owners to implement growth strategies, build infrastructure, deliver efficiencies and embrace technology, whilst also working closely with them through funding rounds, growth capital and, ultimately, exit.

With Sifted reporting that the pre-series A investment deal number has hit a 3-year low, Ed shares timely advice on where to begin when valuing your business for investment as well as how the recent market changes have changed everything for founders. 

Ed’s advice:

• When you are looking for investment, you need to have at your fingertips:
  • Your business plan
  • Your strategy
  • Your historical numbers
  • Pre-empt the due diligence question
  • Understand the market you are in
  • Have pre-prepared responses
• You need to instil confidence and not lose momentum, so be quick to provide information
• If you’re not sure what you need to know, get involved in networks to learn what you need to learn
• Ask advice from people who’ve done it before and never be embarrassed to ask
• Don’t be wedded to a particular evaluation
• The reputation of your business, and the founder’s track record, will count
• Future cash flows and profits will be taken into account
• Remember that the enterprise value is different from the equity value (which may be affected by debts)
• Try to have 18 months ‘cash runway’ - ie you are covered for 18 months.  Sharp investors may try to run the clock down on you and delay until you are seriously short of capital, thus in a weak position

If you'd like to contact Ed you can reach him on [email protected]

FF&M enables you to own your own PR. Recorded, edited & published by Juliet Fallowfield, 2023 MD & Founder of PR & Communications consultancy for startups Fallow, Field & Mason.  Email us at [email protected] or DM us on instagram @fallowfieldmason. 

Let us know how your start up journey is going or if you have any questions you would like us to discuss in future episodes. 

FF&M recommends: 

• LastPass the password-keeping site that syncs between devices.
• Google Workspace is brilliant for small businesses
• Buzzsprout podcast 'how to' & hosting directory
• Canva has proved invaluable for creating all the social media assets and audio bites.
• For contracts check out Law Depot.

MUSIC CREDIT Funk Game Loop by Kevin MacLeod.  Link &  Licence

Text us your questions for future founders. Plus we'd love to get your feedback, text in via Fan Mail

Support the show

One of the most challenging aspects is knowing when the right time is to seek investment for your company. If too early your business may not be ready, however, if too late you may slow down its growth potential. 

In this episode, I speak with Jo Fairley, co-founder of the renowned chocolate company Green & Blacks. Jo co-founded the business in 1991 with her partner, Craig Sams, to create the world’s first organic chocolate and the UK’s first Fairtrade-marked product. In recognition of her entrepreneurial talent, Jo received an Honorary Doctorate in Business Studies from Kingston University. 

Jo is one of the UK’s leading female entrepreneurs and has been an inspiration to me throughout my whole career, originally in PR and now as someone who has started a business, so I was thrilled to speak to her about her investment experience and hear her advice on key considerations around the timing of raising investment. 

Jo’s advice: 

• If your business grows quickly you may find your cash flow restricted so you will need investment
• If you are lucky, you may be able to play one potential investor off against another
• Avoid being in a situation where you are tempted to take the ‘wrong money’ because you are under pressure
• You may need to keep your day job to finance growth
• Be prepared for investors to want to investigate every area of your business: your contracts, your financial details, your social media history - they will want to see every detail
• Finding the right investor can be a full-time job
• You must decide how much equity to give away; keep this as minimal as possible
• Be aware that with an investor, you lose power and autonomy
• Consider crowd-funding as a source of revenue, rather than finding a single investor
• Be mentally fit for this challenge - your well-being is vital for your whole business

FF&M enables you to own your own PR. Recorded, edited & published by Juliet Fallowfield, 2023 MD & Founder of PR & Communications consultancy for startups Fallow, Field & Mason.  Email us at [email protected] or DM us on instagram @fallowfieldmason. 

Let us know how your start up journey is going or if you have any questions you would like us to discuss in future episodes. 

FF&M recommends: 

• LastPass the password-keeping site that syncs between devices.
• Google Workspace is brilliant for small businesses
• Buzzsprout podcast 'how to' & hosting directory
• Canva has proved invaluable for creating all the social media assets and audio bites.
• For contracts check out Law Depot.

MUSIC CREDIT Funk Game Loop by Kevin MacLeod.  Link &  Licence

Text us your questions for future founders. Plus we'd love to get your feedback, text in via Fan Mail

Support the show

Approaching and meeting investors can be one of the most daunting aspects when growing a company. From knowing where to find the right ones to crafting your elevator pitch, there is a lot to consider. 

In this episode, I speak with Francesca Smith, founder of Frankie’s: a membership for businesswomen that helps them connect, collaborate and engage with finance. As an experienced strategic financial planner, Francesca is passionate about increasing the amount of investment provided to female founders by equipping them with the confidence they need to grow their businesses and demonstrate their value. 

With many founders wondering what to do first when pursuing investors, Frankie shares her advice on how to leverage your existing network, how to identify the right investors and why ‘people first’ is the best approach. 

Frankie’s advice:

• Always aim to meet people naturally, by networking or joining a club
• Be open to building a relationship through friendly conversation, sharing possible common ground.  Be interested, rather than interesting!
• Make sure you follow up promptly
• It’s not just about the financial investment, it’s about bringing on board someone who can contribute - so look for gaps in your skill sets and consider areas where you might need help
• Never be afraid to reach out and ask for help
• LinkedIn and free events can be a useful way to meet the right people
• Make sure your message is clear and concise and that you have a well-defined business plan
• Be conscious of how much of your business you are prepared to give away to an investor; don’t be over-eager to surrender too much in the early days
• Always look at the investors’ track record
• While you need someone on your wavelength who understands your aims, you also need someone who will challenge you and sometimes disagree with you
• The best approach on meeting someone is to find common ground - or appeal to their imagination
• Anticipate that finding the right investment could take a year and many pitches, so be tenacious
• Always trust your instincts; you need someone you know/trust/understand, who knows/trusts/understands you in return
• Finally, it’s about the people first, then the money

Frankie has some great starter kits available too.
If you’d like to contact Frankie you can reach her via [email protected]

FF&M enables you to own your own PR. Recorded, edited & published by Juliet Fallowfield, 2023 MD & Founder of PR & Communications consultancy for startups Fallow, Field & Mason.  Email us at [email protected] or DM us on instagram @fallowfieldmason. 

Let us know how your start up journey is going or if you have any questions you would like us to discuss in future episodes. 

FF&M recommends: 

• LastPass the password-keeping site that syncs between devices.
• Google Workspace is brilliant for small businesses
• Buzzsprout podcast 'how to' & hosting directory
• Canva has proved invaluable for creating all the social media assets and audio bites.
• For contracts check out Law Depot.

MUSIC CREDIT Funk Game Loop by Kevin MacLeod. 

Text us your questions for future founders. Plus we'd love to get your feedback, text in via Fan Mail

Support the show

With Barnardo's reporting that on average clothing items are only worn 7 times before they are thrown away, the fashion industry is clearly responsible for overproduction and excessive use of resources. However, many emerging brands are encouraging their customers to shop more mindfully to reduce their personal environmental impacts so I was keen to speak to an expert to find out more.

In this episode, I speak with the founder of the eponymous fashion brand Aoife McNamara who has always placed transparency at the centre of her business.  In contrast to fast fashion brands, she prioritises quality over quantity and encourages customers to care for their garments to make them last. 

Aoife shares advice on building an environmentally transparent fashion business and how important transparency and sustainability are to customers. 

Aoife’s advice: 

• Sustainability means putting the planet, people and local materials first
• Believe in: earth logic not growth logic
• Have your “why” foremost in your mind and if you believe in this it will help you take the more difficult route
• Be curious; have mentors/ a board of advisors; network; take courses; go to talks
• Never be ashamed to ask
• Internship is a useful way to learn an industry
• When making decisions on sustainability you need to show responsibility
• Supply chain transparency is vital; be honest with your customers (in fashion this means being honest about the fabric, the makers of the garment, its origin)
• Educate your consumers,  not to make a profit from them but for the sake of doing it
• Make each item you create as good as it can possibly be
• You will never be perfect but as long as you try that’s the main thing

If you'd like to contact Aoife, you can reach her via [email protected] or @aoife_ireland

FF&M enables you to own your own PR. We also offer podcast production services.

Recorded, edited & published by Juliet Fallowfield, 2023 MD & Founder of PR & Communications consultancy for startups Fallow, Field & Mason.  Email us at [email protected] or DM us on instagram @fallowfieldmason. 

FF&M recommends: 

• LastPass the password-keeping site that syncs between devices.
• Google Workspace is brilliant for small businesses
• Buzzsprout podcast 'how to' & hosting directory
• Canva has proved invaluable for creating all the social media assets and audio bites.
• For contracts check out Law Depot.

MUSIC CREDIT Funk Game Loop by Kevin MacLeod.  Link & Licence

Text us your questions for future founders. Plus we'd love to get your feedback, text in via Fan Mail

Support the show