VC Minute – quick advice to help startup founders fundraise better.
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This is Rich Maloy with SpringTime Ventures, bringing you the VC Minute, quick advice to help startup founders fundraise better.
Next up, you need to start working your system My friend Jameela said the other day, “the magic is in the follow-up,” and I love this. The magic is in the follow-up.
You need to follow up with investors on a regular basis. Do you have an investor update list? Are you using a CRM? You should be doing both. How will people know that you are throwing the coolest pool party around, if you don’t tell them?
I said this earlier and it’s worth repeating: your job as the Chief Pool Party Officer involves organization and communication. You need a CRM for both of these. You fundraise CRM should have investors grouped by stage with notes about the last meeting, their check size, what their next steps are, who you spoke to, who they can refer you to. You can do all of this for free in Excel or Airtable. Airtable even has a fundraising template that you can use.
Whatever it is, you need to be organized. Organization, in your fundraise, brings focus.
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