Fundraising - The 10 Commandments

Do´s and don´ts to help you find your angels.

Nothing really prepares you for fundraising. It's not something we learn in school or at university. If you haven't done it before… how can you know?

I am here to help. Several times, I have been on every side. I have raised money, helped other founders raise money, and also invested in many startups.

To accelerate your fundraising, here are 10 commandments.

1. You shall not ask for an NDA

   So, you've found an investor to pitch your company to. Excellent.

   You are getting ready to send them your pitch deck, but you are concerned and want to protect your idea.

   Save your time and their time. Don´t ask them to sign an NDA before they see your pitch deck.

   This week, I was in touch with 10+ startups looking for funding. 3 of them asked me to sign an NDA. Did I sign? No. I don't have time for that. I am busy with the 7+ other startups.

   Every year, investors, accelerators, and VCs receive 100+ pitch decks. There are so many great companies raising money. They don't have time for NDAs and they don´t have time to steal ideas.

   That 1st pitch deck that you send is intended to capture their attention and encourage them to meet you. There is no need to share confidential information.

   This first pitch deck is a "teaser" that includes:

   Team + problem + solution + traction/revenue/waitlist + funding needs.

   Keep your pitch deck short, around 10 slides. Give investors just enough to make them want to hear more and meet you.

2. You shall not send an unreadable pitch deck or a long outreach email

   Less is more. Keep everything short and readable.

   Use apps such as wordtune to rewrite and shorten your text. If your pitch deck or message contains too much information. There is a good chance investors will pass on that. 

   In your communications, go straight to the point. Use bullet points, focus on your numbers, traction, results, and achievements. Be as concrete as possible.

   Show that you are efficient and know what investors are looking for.

   Remember that you are competing with other startups for the investors’ attention and money.

   A good test: try to open your pitch deck on your mobile. Are you able to read the text and the numbers?

3. You shall pitch but without a pitch deck