Seed Stage Fundraising

Tim Kilroy Analytics - LTV - Boosting Profits - Digital Marketing

October 29th, 2013

Hey Gang - You have helped me find a co-founder and an attorney. So , now I want to chat about the PROCESS of fundraising. What are the tips and tricks that you have used to find investors on Angel.co, or through local networks, or through alternative channels.

How much do you chase investors? What do you do with those folks who say no? What do you do with the "we are in, but we don't want to lead". What is YOUR CRM of fundraising?

Joshua Westover Investor / Entrepreneur

October 29th, 2013

You will waste more time that you ever want to if you try to introduce yourself / your company to a list of potential investors who don't know you. Networking skills and getting a personal introduction is where you need to focus your attention to find the right fit in an investor and successfully fund raise.

As for CRM, we always just used Google Docs (Now Google DRIVE) to research, qualify, and track our potential list of investors. It's free and practical.

When investor prospects say no, or you sense they aren't a good fit, tell them you would like to keep in touch and get their permission to maybe send them an update on your progress in ___ months. You never want to close doors. Organize the "NO" or "Not now" group into a "Nurture" category on your spreadsheet of prospects and just keep notes.

Feel free to contact me via FD's messaging system if you want to chat one on one.

John Sechrest

November 1st, 2013

Raising funding is a relationship process. You want to get to "pre-existing" relationships with investors. To do that, you need to go to places where investors are at. And you need to demonstrate value. That is traction with team and traction with customers. Angel.co, Funders Club, Micro Ventures, seed invest , gust.com all are different ways to connect with people who are investors in one way or another. However, all of them work much much better when you have an existing angel who is providing social proof before you try those. So start making progress on your company, get traction with your customers, build a great team and make some personal connections with Angel Investors who care about your market segment.

Detrick DeBurr

October 29th, 2013

Tim... I recommend that you raise money as slowly as possible, as it is most expensive now... bootstrap where you can... you a grunt fund (http://www.slicingpie.com/) where you can... once you get traction... investors will find you. Analogy.... instead of looking for a spouse... become the best you... you can be... then you'll become the hot catch... and they will track you down

Devon Burks Advisor and Startup Enthusiast

March 3rd, 2020

My opinion? Best way is:

1) get introduced to a VC before you need money. Meet them through an incubator, a co-working space, attorney who works with VCs, another entrepreneur.
2) tell them what you're up to briefly and without hype: "I'm trying to get a prototype teleportation setup going between Philadelphia and Washington." Tell them you expect to have the first results in six months.
3) in six months, report to them (truthfully!) that you have overachieved. If you predicted the thing would have 3 customers, report 10.
4) tell them you now want to raise money and give them a clear non-hype account of what you want to achieve with the money (e.g., "we want to grow our successful customer acquisition scheme on slideshare") and ask them if they are interested in hearing the pitch.

tjtjtj ITS versatile

November 18th, 2017

why always attorney involved? is that mean all power come from attorney?

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