Startup Funding Espresso – Update the Investors on the Fundraise Progress

Update the Investors on the Fundraise Progress

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In raising funding it’s important to build a list of prospective investors and keep them updated on the progress.

After you pitch an investor, add them to a list for updates.

It takes seven touches to close a sale so it takes seven touches to close an investor.

Short bullet point updates sent monthly to those who have heard the pitch can be quite effective.

It keeps the investors warm and reminds them you are raising funding.

Investors are looking for momentum and traction in the deal.

So it’s important to showcase that momentum building in the business.

Focus on sales, team, product, and fundraise as those are the core four things investors want to hear about.

It’s best to ask for permission to keep the investor informed after you completed the pitch.

This gives you an opening to provide regular updates.

Before launching a campaign, think carefully about what updates you will send during the campaign.

Updates include what is new to the investors and not just what is new to you.

If you haven’t told them a piece of information then it’s new to the investor and can be included in an update.

Steady, consistent progress wins the race.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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