Are you at the point where you are wondering how to run a good fundraising process?
How you approach and run your fundraising rounds can make a substantial difference in how smooth and enjoyable the process is, or not. Not to mention whether you actually hit the capital goals you’ve set, and on terms which will set you up for success. So, how can the founders run better campaigns?
Fundraising: It’s A Process
Raising a round of capital for a startup is not a matter of just sticking your hand up or filling out an application. It’s a process. Respect it.
There are multiple parts of this, including:
- Research using Google as your best friend
- Getting advice and learning
- Creating the materials and organizing your documents and data
- Building relationships
- Testing the waters
- Closing the round
- Fulfilling your promises and preparing for the next round
You can’t skip the steps.
It’s A Long Process: Start Early
When thinking about how to run a good fundraising process, keep in mind that in the best-case scenario the active campaigning part of your next round maybe only run a couple of weeks or a couple of months. However, even beginning at the stage of preparing your materials and building relationships, this can take months.
Ideally, you’ll be nurturing investor relationships at least a year in advance. This not only makes it easier to close the round, fully subscribed and on better terms but makes it efficient, delivers a better return on your time and ensures you are allowing in investors and board members who will be great to work with and will help you succeed and realize your big vision.
Get a head start today. As soon as you close this round, be preparing for the next.
There Are No Guaranteed Results
When evaluating how to run a good fundraising process, note that fundraising can require significant time, energy, and monetary investment. All without any guarantees of getting the money as expected. This isn’t really any different from any other part of launching a business as an entrepreneur.
However, if you are willing to truly be open-minded and learn and be coachable and adapt to do what is necessary to get funded, you can find a way through. A big part of this is being flexible on how you get to your vision. If the markets really throw you a curveball, you may even have to consider other methods of financing to get the job done.
It Can Be A Grueling Process
The fundraising process is what you make it and how you choose to perceive it. Still, it can be grueling. Especially if you haven’t mentally prepared yourself for what could lay ahead.
See How I Can Help You With Your Fundraising Efforts
- Fundraising Process : get guidance from A to Z.
- Materials : our team creates epic pitch decks and financial models
- Investor Access : connect with the right investors for your business and close them