You don’t find all the time articles that are so comprehensive as this recent LinkedIn post by Steve Blank.

How do you raise money? Also when and where?

How to raise money is the natural question that comes to mind of every prospective entrepreneur. It’s rarely possible to postpone this much and fund your business on your own money, friends and family.

Can you do it?

One of the top things that investors will look for is the team. Can your team do the right thing and can you do it right? A founder often things that because it’s her idea that’s enough, but in reality she needs to surround herself with people that complement her skills and be able to show that, as a team, they can deliver.

The Business Model Canvas

Alexander Osterwalder’s Business Model Canvas is a powerful tool. This is used to map all the basic ingredients of the venture and show how they are connected and the flow of resources between them. Printing a large number of canvasses and frequently revising the current canvas is a good practice to capture how the business is changing in its early stages. Steve Blank shows how to use the canvas to some extent but really, putting it together is a long and complicated exercise and a deep retrospective into the business mental model.

If you make it will they come?

The article goes a long way to explain how your company/product/business model, the market you address, your perception of the market and the expectations of investors in each funding round develop.

Not addressed properly?

The article misses just one critical point for many: what’s your address? Where do you have more chances toraise money? Sadly for Europe the answer has only two letters: US. The US VCs financed 64% of ventures in 2018 while Europe only 22%. In terms of dollars invested, the US funds invested 53%, Europe 10% and APAC a stunning 37%.