Fundraising is doing everything to get “NO” as fast as possible. Here is what I did to raise first 💰
Iuliia Shnai
8 replies
I was fundraising for the startup before and I think it is one of the hardest things I did in a startup.
As you obviously wearing a lot of hats and have many roles.
I had a process which I built similar to the sales process:
Outreach ways:
1. Finding the leads ( investors, via connection)
2. Doing outreaches via email
3. Building the connections via LinkedIn
4. Finding more experienced founder with startup in similar field ⭐️
First touch:
1. Sending the deck and track results 2. Follow up 3 times to get my respond
3. Analyzing how investor look at the deck
Second touch:
1. Share the updates
2. Improve the deck
3. Get onto call
Next touch:
It was already rare, and only if you proceed.
💁♀️Some overal tips:
💡Trying to get “NO” as fast as possible on each of this step by asking questions.
💡Follow up 5-7 times to get fast results.
💡Always ask when a person responds to me.
💡Finally we fundraised the angel round, but it was super hard.
💡 Be concise and imagine explaining to your parents the startup ( everyone love simple)
Now launching Papermark to help you share Pitchdeck and build relationships with investors
https://www.producthunt.com/products/papermark-2
Anyone fundraising?
What process and challenges you have?
Replies
Samuel Bodin@samdotb
Specfy
Love the idea of productising this. 🚀
Share
Papermark
Excited to hear your story:))
Supademo
We just raised and did a guest post on Failory :): https://www.failory.com/blog/fou...
Serand
"I didn't have a lot of experience in fundraising, but I was willing to put in the work. I read every book I could find on the subject. And I networked with other founders who had raised money successfully."
Congratulations. Thanks for the tips.
Did you have an MVP before fundraising?