We need to raise capital.

The business needs equity or debt to fund growth, inventory, a market entry or a recovery. Investors and lenders will form a view quickly, and mostly on evidence the business already has.

A raise is rarely only a finance exercise. It is a test of strategy, unit economics and management credibility at the same time.

• The raise is sized against ambition rather than against a funded plan.
• Unit economics cannot be reconciled to the reported accounts.
• Working capital requirements are understated and the money is gone early.
• The business talks to the wrong kind of capital for its stage.
• The founder runs the process personally and the trading year suffers.

• What exactly is the capital for, and what does it buy in performance terms?
• What do the unit economics show at current and planned volume?
• How much is genuinely required, including working capital and a margin for error?
• Is equity, debt or a structured facility the right instrument here?
• What evidence will investors want that the plan has already started working?

• Build a funded plan with the operating assumptions made explicit.
• Reconcile unit economics and cash conversion to the actual accounts.
• Prepare the material a serious investor or lender will test, not a pitch deck.
• Approach appropriate capital for the stage and the sector.
• Hold trading performance through the process, since it is the strongest argument available.