Startup Communication with Investors
It\u2019s important for a startup to have regular communication with investors during the fundraise. It keeps the investor up to date on your progress and helps build the relationship. For updates, find\xa0 a cadence that fits your business. For fundraising, every two weeks is a good pace. After funding move to monthly or quarterly updates. In your communication in person, over the phone or in email talk about sales first. If you\u2019re pre-revenue talk about activity with\xa0 beta customers and prospective. Always have some engagement ongoing with the customer - no engagement means no traction.\xa0 No traction means no funding. If you don\u2019t have customers then start engaging with customers in some manner. Call out team members who did something great. Show what team members are doing to increase your customer engagement. This provides another angle for showing the progress you are making. Talk about how the product is moving forward. Highlight customer usage and the customer ROI which is what the customer is getting from the use of the product. Use anecdotes till you have numbers but get to numbers fast.\xa0 For example, take one customer and calculate their ROI from their usage of the product. Show all three levels of the fundraise and include interest, committed, and invested numbers. If the investor indicates they are considering a $50K investment, that\u2019s interest.\xa0 If the investor commits to investing, that\u2019s committed. If the investor funds are in your bank account, that\u2019s invested.\xa0\xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today!