This is the first instalment of Entrepreneur First’s five-part series on tactical fundraising advice.
Fundraising is a necessary evil with building a tech startup. It can be stressful, confusing and a complete blow to founders’ confidence. At the same time, if you’re lucky enough to have a hot round, fundraising can be an exhilarating ego boost.
Both cases result in strong emotional reactions and with emotion comes the risk of making sub-optimal decisions. The best way to overcome that risk is to approach fundraising with a plan and a process. As a pre-seed investor that deals exclusively with first-time founders, we spend a lot of time on this.
In an effort to save time for both founders and investors alike we’d like to share the main insights from our Advanced Fundraising talk that we give to all EF founders. While there are already some great pieces on fundraising out there we’ve tried to provide a tactical view on the metrics and methods that have been most impactful in the success of our past six cohorts. Given the depth of this topic, we’ve separated our thoughts into a five-part series. The first focuses on the foundational stuff that a founder must do before venturing into the wild.