Read this FAQ about fundraising and when you should start searching for investors. Might be sooner than you think.
If you’re planning to fundraise for your startup, it’s important to start no later than 9-12 months before your runway ends. This is because the due diligence process alone can take up to 3 months, and finding the right investor can take up to 6 months. Additionally, your startup may not qualify for investment right away due to factors such as lack of revenue or market validation. Treating potential investors like customers by keeping them updated on company progress can help attract and maintain their interest. It’s also important to take inbound calls from interested investors and keep your profile on platforms like Crunchbase up to date.
When your startup gets funded, it’s important to make the most of the opportunity by leveraging public relations (PR). PR can help get your startup noticed by potential investors and customers alike. Some strategies for PR include issuing press releases, conducting media outreach, and building relationships with reporters and influencers in your industry.
Remember that your investors are also important stakeholders in your company, so it’s crucial to keep them informed of your progress and milestones. Regular updates, such as monthly or quarterly newsletters, can help keep investors engaged and invested in your success. By leveraging PR and staying focused on your marketing and investor relations, you can help ensure your startup’s continued growth and success.
What is a pitch deck? A pitch deck is a brief presentation of your company’s mission, the problem you solve, the product or service you provide, the market, your competitors, your traction to date, your adoption channels, your key team, unit economics if available, expected growth phases, and then ask for your investment. Keep it around 10-15 slides max and at a very high level, and keep it updated.
Some startups have become famous for their early-stage pitch decks, such as Airbnb’s deck that helped the company secure its first round of funding. Other successful pitch decks include those from Uber, Buffer, and Square. While your pitch deck may not be as iconic as these, it’s important to create a compelling presentation that clearly communicates your vision and value proposition to potential investors.