Mon, 2 August 2021
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In managing deal flow, the key to winning the best deals is responsiveness.
Startups submitting their deal are looking everywhere for funding and you’re just one option among many.
Here are some key points to consider:
Automate the initial response to a deal submission with an email acknowledging the sender.
Customize the follow-up with the sender’s name.
Make clear how your deal flow process works.
Set expectations as you proceed as some startups get overly excited when they’re only 10% through the process.
Provide a point of contact for the startup in case there’s a breakdown in communication.
Once qualified, set up a call with the startup to discuss their deal.
Make clear what information you need for diligence.
In each step, provide timely information about the process with the next steps.
Apprise the startup of their status with your group to reduce the “where are we at” calls.
Maintain responsiveness throughout the process.
A quality deal-flow process burnishes the reputation of the firm and generates more deal flow.
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
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