TL;DR: LET’S BE FRIENDS
Welcome to your most valuable network
I’m launching a Fundraising Founder Community! (You’re on the waitlist – big yay!)
The 1% Funding Checklist (Do you know what you’re getting yourself into?)
Are the risks worth the reward? (like actually?)
WE’RE LAUNCHING ‘VESTED INTEREST’
Meet Chey & Our Why
I've spent years building the ultimate founder playbook. I’ll be revealing more as time goes on but from one founder to another, doing something right, without selling out on yourself or others is damn hard. So why not do it together with people who understand you?
Hi 👋🏽 I’m Cheyenne (shy-yan), and in my old corporate life in 2024, I’d help lead and build Africa's largest accelerator. We helped 29 founders from across the continent secure funding both nationally and internationally and take their startups from good to great. We even had Kamala Harris visit our startup, Lupiya who are pioneering banking in Zambia!
Ferna Tech however, is my baby and the mother behind Vested Interest (our new Fundraising Founder Community). We’ll be launching soon and we exist to help you go from idea to greatness. This Startup Funding Checklist (below) is a little taste of what is to come in Vested Interest, our global Founder Fundraising Skool Community.
Below you’ll find a few big questions to ask yourself if you’re thinking of entering the world of entrepreneurship. And if you’re already knee deep in this wild world, there are a few reflection frameworks I use at pivotal moments of my decision making, namely now, before you consider raising funds.
1% FUNDING CHECKLIST
Keep Your Day Job If:
You value stability and consistent income over high risk, high reward.
You're not fully passionate about your startup idea and it's more of a side hustle.
You have significant financial responsibilities that require a steady income.
You're not prepared for the emotional toll that comes with building a business from scratch.
You lack the necessary skills or experience to execute your startup idea.
Start by becoming a 'part-time founder' if:
You have a stable job but are eager to test the waters with your startup idea.
You’re a parent, differently abled or have a serious illness, Why? Because you want to minimise as much financial risk as possible and rather save towards your launch, all while gaining experience.
You need time to validate your market and build a customer base.
You're unsure about quitting your day job completely.
You want to maintain a work-life balance while pursuing your entrepreneurial dream.
Think about raising funding if:
You have a scalable business model with significant growth potential.
You need substantial capital to acquire customers, develop your product, or hire a team.
You're ready to give up equity in your company in exchange for funding.
You have a strong pitch deck and can articulate your value proposition clearly.
You're prepared for the due diligence process and investor negotiations.
Only build your MVP when:
Please, for the love of all that is good and mentally stable. Founders burn through their bootstrapped savings like fire when they get excited and choose to build the first thing that pops into their head. Please SLOW DOWN, have a think and validate, even get a few clients on pre-order before you build so you can preserve your savings and your sanity.
You have a clear understanding of your target market and their problems.
You've validated your core value proposition with potential customers.
You have a basic understanding of the technology required to build your product.
You've allocated sufficient resources for development and testing.
You're ready to iterate and improve your product based on user feedback.
Ask yourself these questions before you start – like write it down, PEN & PAPER.
Do you have a network built that you can leverage?
Relationships are key in the startup world, have you started attending events, mixers, have you built up your professional network? Can you handle yourself in a room?
Have you started positioning yourself as a thought leader? Building your personal brand can attract customers and investors. Are you posting on LinkedIn? Do you have an optimised profile, maybe a newsletter or some form of social proof?
Can you handle rejection?
Startups face countless setbacks. Resilience is crucial. Do you have mental toughness? I’m talking enough to last the first 2 years of business.
Are you prepared to wear multiple hats?
From marketing to finance, you'll need to be versatile. Have you started upskilling? Taking advantage of your current job’s employee benefits to optimise your personal learnings? Have you done a course on personal bookkeeping or started to learn another language?
Do you have a strong support system?
Family and friends can be your biggest cheerleaders and your biggest critics. Do you have your cheer squad, that will pick you up when you’re down? Do you have your tough love squad that will call you out when you need it?
Are you passionate about your idea?
Enthusiasm is contagious. This one is so true. Your team will carry you though some dark times but please keep your head up as you journey forward.
Can you handle ambiguity and uncertainty?
The startup journey is full of unknowns, not knowing where your next paycheck is coming from, not knowing how to do certain things etc. Start building your mental model of living in ambiguity now.
Are you willing to make sacrifices?
Building a successful startup requires dedication, grit and mental toughness.
Do you have a strong work ethic?
Long hours and hard work are essential but not sustainable. Do you already prioritise your mental and physical health. This is a slow burn, long-term reward game, you need to work hard but also rest hard.
Are you ready to learn and adapt?
The startup landscape is constantly changing, learn how to live with 1 constant, thats change. Can you change direction quickly? Start doing this now so you get comfy with change and authority.
YOU’RE AN ENTREPRENEUR!! (OR JUST FUNEMPLOYED // WE’LL SEE)
