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Hey, everyone! To kick off our 3-day weekend, we’ll discuss how to conquer the struggles of starting a fund!
As the co-founder of Investment Fund Secrets and the fund manager of 3 different funds, I have definitely realized that starting a fund is a struggle…
Starting a fund is not easy.
It’s a big deal. It takes a lot of your time. It’s like starting a business!
However, the rewards are unimaginable! The following formula has paid massive dividends for me!
Fund Launch Formula
- Find an incredible deal
- Invent & frame your idea
- Soft-pitch investors/get mentors
- Do the legal work
But, it’s not as easy as it looks…
Dan Young and I are in the process of starting a crypto fund. Here’s some important, yet difficult things we had to get under control…
3 Things to Find
Find a good 3rd-party admin. After some thorough interview processes, we found people that can primarily check and track all the investors and capital in the fund.
Find good insurances. D&O (directors & officers) and E&O (errors & omissions) insurances are super expensive but crucial to having a secure fund.
Find bank accounts. This may sound easy, but it is not! Nobody wants to work with startup funds. We had to go to 3rd or 4th tier banks that work exclusively with funds. Access and Silvergate are the ones I prefer.
All that is mentioned above takes months of demanding work!
Try to get your first dollar made as soon as possbile. If this takes too long, your team or spouse and others will become disenchanted with the idea of the fund.
Do whatever it takes to make your initial revenue as fast as you can!
After all that is done, then you can start. And it’s the best feeling in the world.
Like I said in my live stream yesterday…
“One of the hardest parts of running/doing a fund is starting.”
Don’t get discouraged; it takes a lot of effort. You can do this!
IF you need help starting a fund, go to the IFS website to get 1-on-1 assistance!
That’s it for me!
See you soon
Want to get direct guidance for your fund? Schedule a time with my Fund Advisors!
DISCLAIMER: This content is for educational and informational purposes only. It is not to be taken as tax, financial, or legal advice. You should always consult a legal professional before taking action. Furthermore, this is not a recommendation to buy or sell any security. The content is solely just the opinion of the authors.
