It’s easy to push off updates because you don’t feel you have good news. Or you’re busy… But I can say as an active investor and advisor, I wish more of the companies I want to help would share what is going on! Too many calls spend precious time reviewing what could have been in an update. If they are doing that with me, how much time are they spending doing that with the numerous other investors and advisors? Time spent getting up to speed means less time for valuable discussion. Long ago, I started to think of investors & advisors similar to employees in that we’re all working together to build a company on the same team and just like employees, our investors and advisors benefit from well-cadenced updates. Here’s my ask: write an update, share it with your team/investor/advisor, and then ask if it was helpful. …
Founder Advice
Fundraising is about building relationships with people who share your values and believe in your vision. Pitches, decks, lunches, events, and the like are all just opportunities to talk about your vision and get to know people. In this light, fundraising shouldn’t be scary. It’s rewarding: you’re finding people who believe.
I don’t think fundraising is easy. Quite the opposite. It’s difficult, demanding, and deflating at times. But remember why you’re doing it: you’re excited to turn your vision into reality. So if you’re stressing about fundraising and reading every blog post you can on how to perfect your pitch I’d encourage you to think about the following set of ideas. They may help you with more than just raising money. …
Book Summary: Venture Deals by Brad Feld & Jason Mendelson
I recently re-read Venture Deals by Brad Feld & Jason Mendelson. I decided to write a long summary/review, with my book club as the intended audience, comprised mostly of quotes. Before I dig in, I want to share my own piece of advice for all of you fundraising: don’t get intoxicated by fundraising, don’t make the mistake of thinking investment is success, and remember that revenue is the goal of your business and it’s the best form of capital. Everything else in this post does not necessarily mimic my own beliefs! …
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