In order to build conviction, we rely on founders to tell us a compelling story, almost always in the form of slides. We’ve funded companies almost entirely because of the quality of their seed decks. Poor deck? We’ll likely pass on the opportunity.
How to raise money before launch
status quo: 30% of deals are lost due to indecision. excel sheets, interns, pen and paper you have to position towards those too. win against alternatives.
Lenny Rachitsky • April Dunford on product positioning, segmentation, and optimizing your sales process
As a founder in a world where capital is easy to get, what matters is how to explain yourself, distill the company, and get public markets to understand you in the right way.
kwokchain.com • Narrative Distillation - Kwokchain
Planning the Ask
A good ask has several components:
A vision of a better world that you believe in, they believe in, and your mission serves
An immediate need that you have (“We need a new X / Y”)
A specific amount, that they can give, which fits the need
A clear connection between their gift and the solution to the problem.
A good ask has several components:
A vision of a better world that you believe in, they believe in, and your mission serves
An immediate need that you have (“We need a new X / Y”)
A specific amount, that they can give, which fits the need
A clear connection between their gift and the solution to the problem.
still not raising! Why? You have a very short window of time to complete each fundraising round. The longer it drags out, the less momentum you have, and the more investors will question why you haven’t raised. So wait until you know without a doubt that you will succeed before you start raising. As soon as you start telling investors you’re raisin
... See moreRyan Breslow • Fundraising
You have to move beyond solving with the resources you have and begin to influence others in the org to solve problems outside your direct span of control. You need to start identifying the full set of things blocking your problem area, and influencing others in the org to do that work. In addition, rather than being given a set of resources, you b... See more
reforge.com • Crossing the Canyon: Product Manager to Product Leader — Reforge
You are ready to make an ask when:
You have had six to eight interactions or points of contact with a donor
You have established that the donor has sufficient means, and how much they are likely to give
The donor knows your larger mission, as well as current needs + projects
The donor is excited about what you’re doing. Emotional engagement is critical... See more
You have had six to eight interactions or points of contact with a donor
You have established that the donor has sufficient means, and how much they are likely to give
The donor knows your larger mission, as well as current needs + projects
The donor is excited about what you’re doing. Emotional engagement is critical... See more
The challenge then becomes raise enough money and keep morale high enough for long enough so that you actually have the time to make it work. Hence the job of the CEO – the momentum creator.