FUNDRAISINGAs a sales process презентация

ABOUT ME Founder at ToutApp, we build software to empower sales people Raised Advisory, Seed, and Venture Capital Fell in love with the art of selling @tawheed

Слайд 1FUNDRAISING AS A SALES PROCESS
@tawheed


Слайд 2ABOUT ME
Founder at ToutApp, we build software to empower sales people
Raised

Advisory, Seed, and Venture Capital
Fell in love with the art of selling

@tawheed


Слайд 3GOAL
Share what I’ve learned about Fundraising so that you can go

from being a seed-level company to a solid venture backed company.

@tawheed


Слайд 4KEY CONCEPTS
Why you should think about fundraising as a sales process

What

to do before you fundraise

How to actually run your fundraising like a sales process

@tawheed


Слайд 5HOW YOU THINK ABOUT FUNDRAISING
@tawheed
“We’re getting ready to raise our Series

A. We’ve got great traction. Revenues are growing. Our customers love us. We’re looking to raise $3m to $5m.”

Слайд 6HOW INVESTORS THINK ABOUT YOU
@tawheed
As a VC, I can only fill

X board seats
With my $Y fund, each deal I make needs to have a likelihood of returning > $Y
There are only about 15 to 20 seriously important companies every year

Should I buy what you’re selling?


Слайд 7WHAT’RE YOU SELLING?
@tawheed


Слайд 8#1 RULE OF SELLING
Why You?
Why Now?
@tawheed


Слайд 9PRINCIPLES OF SELLING
Who is the right buyer for what you’re selling?
Understand

your buyer, what do they care about?
Why should they choose you? What makes you unique?
How do you articulate and pitch them on Why You? Why Now?

@tawheed


Слайд 10HOW YOU THINK THOUGHT ABOUT FUNDRAISING
@tawheed
“We’re getting ready to raise our

Series A. We’ve got great traction. Revenues are growing. Our customers love us. We’re looking to raise $3m $5m.”

Слайд 11A CLEARER WAY TO PITCH YOUR DEAL
@tawheed
“We believe X is going

to happen. Our seed round allowed us to prove Y. We think with another $Z in the bank we’ll be able to tackle this problem and get to the next stage. And when we do that, we’re going to make a lot of money in a market that is worth $AA.”

Слайд 12IT TAKES MONTHS TO PREPARE IT SHOULD TAKE WEEKS TO DO A

DEAL

@tawheed


You are NOT Raising

You ARE Raising

(months)

(weeks)


Слайд 13PREP #1 – HAVE A PLAN
How much runway do you have?

@tawheed


Слайд 14PREP #1 – HAVE A PLAN
How much runway do you have?

Plan

to kick off fundraising when you have 6 months of runway left

Based on your financial model, figure out how much money you actually need to raise

@tawheed


Слайд 15PREP #2 – IDENTIFY POTENTIAL BUYERS
There are hundreds of VC firms

There

are more ways to raise money than just VC

There are VCs and Investors that care about stage, category, business model, and even about the type of founder you are

Don’t just aim for Sequoia to write you a $20m check


@tawheed


Слайд 16PREP #2B – RESEARCH BUYERS
Identify your ideal buyer by doing your

research on the firms

Crunchbase, LinkedIn, TheFunded and funding announcements

Don’t just look at firms, focus on actual partners; you’re getting married



@tawheed


Слайд 17OUR SERIES A WITH SIGMA WEST
@tawheed


Слайд 18PREP #2B – RESEARCH BUYERS
Find investors that have invested in

your broader space and category in the past; ideally with successful exits
For clues, look at the types of investors that have placed bets on your competitors
Look at their fund size. There are lots of cues to pick up here



@tawheed


Слайд 19PREP #4 – BUILD RELATIONSHIPS
You’re not raising
You’re mapping out the people

you want to target
You’re figuring out how to get introductions
You’re looking to build a longer term relationship
You’re looking to get advice
You’re asking a lot of questions
There is no deck
BTW. You’re not raising

@tawheed


Слайд 20PREP #4A – RELATIONSHIP HACK
Talk to Portfolio company CEOs

Ask them the

type of investors they are, ask them how they add value, ask them for advice

SELL them. The more portfolio companies you have as customers the easier it’ll be for you to sell down the line

@tawheed


Слайд 21PREP #5 – DEVELOP YOUR PITCH DECK
Don’t leave this for the

last minute or for “after” you get your meetings

Treat this with respect. It requires you to have a very deep understanding of your business, your numbers

A huge part of this is for you to develop your unique vision for what you want out of your company

@tawheed


Слайд 22PREP #6 – DEVELOP YOUR SUPPORT STRUCTURE
Have strong customer references you

can call upon at a moment’s notice
Have one spreadsheet with tabs outlining the core metrics around your business
Have a clean set of financials
Have a shared Dropbox folder ready to go with everything

@tawheed


Слайд 23GET READY
You’re going to meet some of the smartest and most

successful people on Planet Earth. Enjoy it.

@tawheed


Слайд 24THE SALES PROCESS
@tawheed

2 to 8 Weeks

4 Weeks MAX


Слайд 25MUST DON’TS OF THE PROCESS
Don’t spent too much time with Associates

or Principles

Don’t spend too much time if you haven’t gotten to meeting with the partnership after the 2nd or 3rd meeting

Don’t be shy. You’re raising. OWN IT

Don’t do your favorite firm first. First 6 pitches are for practice

@tawheed


Слайд 26PREPARE FOR BATTLE
You need to maintain your positivity, you need to

be assertive, you need to drive forward with conviction

You need to make the entire process dead simple easy for the investor to say “Yes”

You need to consistently be asking the tough question, are you interested in “buying”? What are next steps?

@tawheed


Слайд 27CONSIDER THE STATS
0.5% of people attempting to raise money end up

raising
20% of startup founders who raise end up with something that is worth something
0.1% chance you’ll make money from your venture after you raise

@tawheed


Слайд 28BE THE UNICORN
Solo Founder

No Prior CEO Experience

No Network



@tawheed


Слайд 29HAVE A PLAN B SO YOU FEEL CONFIDENT
What part of your business

can you re-focus to start generating cash?
How can you cut expenses? Reduce burn? Extend runway?

Are there alternative exit scenarios?

Take a long hard look. Is it time to move to the next idea?

@tawheed


Слайд 30IF YOU DO RAISE
Pause and Reflect

Think carefully about what you’re going

to do with the money

If possible, create a rough pitch deck for your next fundraising

Buckle up

@tawheed


Слайд 31TRUST IN THE PROCESS
@tawheed
You WILL Raise


Слайд 32ABOUT ME
Twitter: @tawheed

I blog, a lot: tawheedkader.com

Email: tawheed@gmail.com
@tawheed


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