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Fundraising is not for the weak!!
Here are a few tips I’ve learned over the past few months to help me as a first time founder raise six figures during a pandemic.
Quick thread
Here are a few tips I’ve learned over the past few months to help me as a first time founder raise six figures during a pandemic.
Quick thread
What’s the problem/solution?
The P/S are the first two slides in the majority of decks, but many of us fail miserably when it comes verbalizing this to an investor.
The person listening to you should have an aha moment even if it’s something they won’t invest in.
The P/S are the first two slides in the majority of decks, but many of us fail miserably when it comes verbalizing this to an investor.
The person listening to you should have an aha moment even if it’s something they won’t invest in.
Feedback is gold
Present as much as possible! Talk to friends, family, and colleagues first, and listen to their feedback. Many of their questions are the same things an investor will ask.
Document their feedback and see how it can implemented in your business.
Present as much as possible! Talk to friends, family, and colleagues first, and listen to their feedback. Many of their questions are the same things an investor will ask.
Document their feedback and see how it can implemented in your business.
Iterate and be nimble
Life changes fast, and so will your business. We had to make a hard pivot due to COVID, which has bettered our business.
Iterate based on feedback and things you can do quickly, but also bring a 5-10x return.
A nimble startup is an attractive startup!
Life changes fast, and so will your business. We had to make a hard pivot due to COVID, which has bettered our business.
Iterate based on feedback and things you can do quickly, but also bring a 5-10x return.
A nimble startup is an attractive startup!
IT GOES DOWN IN THE DM’S!!!
Six out of our eight investments have come through a cold email or Twitter dm. As a first time founder my network was very small, so I had to find ways to get connected investors.
Do your reasearch, and don’t be scared to send that cold email/dm
Six out of our eight investments have come through a cold email or Twitter dm. As a first time founder my network was very small, so I had to find ways to get connected investors.
Do your reasearch, and don’t be scared to send that cold email/dm
Tell your story (1/2)
In a software run world, it’s easy to get caught up talking about all the features your platform will have. It may sound cool, but it’s probably won’t get you investment.
Instead, focus on telling a story of what you’re building....
In a software run world, it’s easy to get caught up talking about all the features your platform will have. It may sound cool, but it’s probably won’t get you investment.
Instead, focus on telling a story of what you’re building....
Tell your story (2/2)
(cont...) why you’ve built it, and why it’s something that your customer needs. Telling a story is much more compelling and allows the investor to better understand why your idea is needed.
Most importantly, don’t forget about adding in the “why now?”
(cont...) why you’ve built it, and why it’s something that your customer needs. Telling a story is much more compelling and allows the investor to better understand why your idea is needed.
Most importantly, don’t forget about adding in the “why now?”
Follow up game on 100
Even after you pitch, the investor is still analyzing you. If you said you were going to send something to them after the call, SEND IT IN A TIMLEY MANNER!
The investor needs to know that you’re on top of your shit, and this is the best way to show them.
Even after you pitch, the investor is still analyzing you. If you said you were going to send something to them after the call, SEND IT IN A TIMLEY MANNER!
The investor needs to know that you’re on top of your shit, and this is the best way to show them.
Don’t take “no’s” to heart
You’ve probably heard it before, but I can vouch and say it’s so fucking true! You will hear “no” more than “yes,” but it’s not the end of the world.
I’ve had over 100 no’s and eight yes’s, and hearing no still doesn’t get easier.
Keep pushing!
You’ve probably heard it before, but I can vouch and say it’s so fucking true! You will hear “no” more than “yes,” but it’s not the end of the world.
I’ve had over 100 no’s and eight yes’s, and hearing no still doesn’t get easier.
Keep pushing!
Use momentum to your advantage
You’ve got your first check, so use it as leverage. If people are on the fence, let them know that Will from Bel Air Fund has invested.
Most investors don’t like to jump in alone, but will write a check when they to see signal from others.
You’ve got your first check, so use it as leverage. If people are on the fence, let them know that Will from Bel Air Fund has invested.
Most investors don’t like to jump in alone, but will write a check when they to see signal from others.
Stay consistent
Fundraising is a marathon and a sprint. You’re working hard to raise money in the short term to ensure that your company can build your long term vision.
You have to consistently shoot your shot, iterate, refine your story, network, and the money will follow!
Fundraising is a marathon and a sprint. You’re working hard to raise money in the short term to ensure that your company can build your long term vision.
You have to consistently shoot your shot, iterate, refine your story, network, and the money will follow!
I’m no fundraising expert and I’m still raising our pre-seed for @teamfitnesse, but I hope this helps those who are thinking about raising.
If you have questions, my DMs are open.
If you have questions, my DMs are open.
There are a few points I missed, but I will try and put out a short thread once a week on things I’ve learned building @teamfitnesse
Lots of
’s coming soon!
Lots of
’s coming soon!