Momentum is key when pushing a startup financing round. No matter which stage you are at, it can be real work and take strategy. Here’s how to build momentum in a financing round to get the funds and close the round.
1. Get Your Data in Order
Be prepared. Be ready to answer questions and overcome objections so you don’t leave investors room to go think about it.
Know your key data that you will be raising on. Pick one metric and rock it. If you are thinking how to build momentum in a financing round you can always send follow-ups covering the progress around that metric.
Know your competitors’ data too. How much have they just raised, at what valuations? How do their metrics shape up against yours?
2. Polish That Pitch Deck
Even if you are at a Series E round, you want to have a strong pitch deck. Make an effort. Recognize trends change. Visually, and in what investors want to see and put the most weight on.
Storytelling is everything which is something that you will need to master. Being able to capture the essence of what you are doing in 15 to 20 slides is the key. For a winning deck, take a look at the pitch deck template created by Silicon Valley legend, Peter Thiel (see it here) where the most critical slides are highlighted. Moreover, I also provided a commentary on a pitch deck from an Uber competitor that has raised over $400M (see it here).
Remember to unlock the pitch deck template that is being used by founders around the world to raise millions below.
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3. Research, Research, Research
In real estate, they say success is all about location, location, location. In startups and fundraising, when it comes to how to build momentum in a financing round it’s all about research, research, research.
Even in the best scenarios, you can run into an overwhelming number of no’s when trying conducting a financing round. Even in the best of time, it can be very time-consuming.
Get more efficient and enjoy a far better return on your time by really, really getting to know the potential investors out there. You’ll want to focus on fit more than anything else. So, you need to know which investors’ portfolios you are going to be a good fit for.
Of those, you’d like on your team and on your board, which are eagerly funding startups like yours, at this stage?
4. Know Your Partners
Just like with real estate brokerages, stockbrokers, and plumbers, it’s really the individual partner that you’ll be working with that matters when it comes to Venture Capital. Do your research on them. Look them up. Talk to other founders who have worked with them.
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