In this article, we are posting about something to think about! It is targeting project management professionals, investors, and angel investors. In this post, we are trying to describe the current investing scene (or lack of) in project management solutions. If you are in project management, we ask you to take a minute to read this message! What is in it for YOU? Read on …
First, Project Management Respect
The first part of our message is about project management’s challenges. Project Management’s challenges are misunderstood, undervalued, and lacking appreciation by executives and the business & investing community.
Why do we say that?
Some executives think anyone can manage projects, which is the accidental project manager syndrome. Therefore, no need for training, consultancy, or even software. It is common sense, right? Just use one of those tools in the market or take a 5-day certification course, and you can “Master Project Management.”
Further, we have the investors community (and organizations) that think Trello is a Project Management software – no offense – but Trello is a Task Management Software. By the way, I like Trello, I used it and convince my son to use it. However, liking it is one thing, and accepting it as a PM Software is something else.
Then, some investors might say, “but the market is full of PPM software tools.“
They might be right, but then most of what exists are “too narrow in scope, too basic in functionalities, or too expensive.” In other words, is a task tracking tool enough to manage projects end-to-end? Is a scheduling tool, which is essential, enough to lead projects concept to success?
Selling Project Management to Investors, Challenges
Consequently, how can we sell an investment opportunity to an angel investor? Selling them something they might not understand or appreciate? Angel Investors understand profit, pivot, TAM, VC, MVP, and so on, but do they understand project management? Do they know the difference between a task management tool and a comprehensive project management methodological solution?
If they do not understand project management, do they understand project management software? Or do they think any tool will do?
How can they understand a comprehensive, versatile, or methodology-driven cloud-based solution, like The Uruk Platform (Uruk APM)? Some of these folks think Agile is a PM Method.
We are not complaining or criticizing. We are only describing the current situation, which is something that we do not understand.
SUKAD Corp Fundraising and Crowdfunding
At SUKAD Corp, we had done well in raising funds in Round 1. Round 1 was our Friends, Family, and Colleagues round. We did well, and we achieved our initial Round 1 target, but most investors are professionals and managers in the project management domain. The few who are not are relatives to the PM Group. Further, we just started the private phase of a Crowdfunding campaign, and the early signs are good.
So, what is the problem?
The problem or the challenge is that substantial funds need to come from Angel Investors. Therefore, how to reach them and help them understand that what we are developing is a GREAT investment opportunity?
We were told, “Mounir, have an MVP or a demo.” However, if they do not fully understand project management, would they understand the demo? The fall back is to have an MVP. Wonderful, that is what we are working on, but do we really need to wait?
The Fundraising and Crowdfunding Strategy
Well, our fundraising and crowdfunding strategy is in two folds:
Project Management Fundraising
First, help those in project management, who can readily understand our solution, to invest first. The challenge with this group is that most of its members might not be investors or understand startup investing risk and reward. Therefore, we have to help them understand investing in startups. Further, we have to help them understand the difference between donating to reward-based crowdfunding and investing in equity-based crowdfunding.
Investors and Project Management
The second group is investors and angel investors. Those professionals understand investing and SaaS, and have the risk tolerance, but might not know enough about PM.
This is our challenge.
For this group, we need to help them understand project management and why investing in our solution should not be missed without serious consideration and talking with us.
Finally, we would be launching a series of short webinars for both of these groups to help explain investment and project management.
Who is on board?
To learn more about SUKAD, here is our website: https://sukad.com/
If you want to discuss this in a one-on-one setting, my friend Calendly can help set up a meeting.
So, are you on board?
The post What are the challenges for Project Management fundraising? appeared first on Applied Project Management.