How do you send a pitch deck to friends and family?
Friends and family will be an incredibly pivotal part of your journey as an entrepreneur. This is true whether you actually directly raise money from them or not. If you can raise from them, it can be some of the best capital you can bring in. Here’s how to approach it.
There are three reasons to pitch and send a pitch deck to friends and family:
- For practice ahead of pitching angels or VCs
- For raising from them before going onto other rounds
- For gaining introductions to their friends and family who may fund you
Even if you don’t raise from them, this is your core support group. Entrepreneurship can be lonely. You are really going to appreciate having them in your corner on this journey. For them to do that it really helps them to get what you are doing, get excited about it, and understand some of your challenges.
Just practicing with them can really help you find holes in your pitch, polish it and perfect it, before approaching the investors you really want.
You may also be surprised at what introductions they can make for you too. The network around this group is hundreds and thousands of people. They may be able to open many doors for you, far beyond just the money.
The Place Of The Friends & Family Round
When it comes to the series of fundraising rounds the friends and family round comes first. This is typically your pre-seed round.
If your family is well off, then they may have the financial capacity to participate in your Seed as well. The majority don’t.
Whatever their level of participation, official or not, raising money from friends and family is significant to future investors. It shows that others believe in you, your mission, and your business. It shows that those who know you best really believe in you. You can imagine the opposite is true too.
Who Are Friends & Family?
Who counts as friends and family?
- Immediate and extended family members
- Coworkers and former coworkers and bosses
- College classmates and professors
- Strong social media connections
- Friends of friends, family of friends, and friends of family
Keep in mind that in fundraising storytelling is everything. In this regard for a winning pitch deck to help you here, take a look at the template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash.
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