Momentum is critical to success in securing investment. You need investors to be red hot excited about you – and if we get too much time off we cool off, and blame it on you. Investors are experts at killing momentum. We don’t mean to – but we’re accidentally brilliant at it :(.
Some simple things you can do to keep momentum going:
- Communicate momentum from the firm moments you speak to us. Here is a great Quara Answer with tips on how to do this.
- If we agree to go to due diligence, MAKE SURE WE ASSIGN A LEAD INVESTOR. Get contact info of ALL interested investors.
- Center your attention on the lead investor. Do everything you can to make their life easier. Help schedule meetings with the other investors. Ensure all relevant docs are uploaded into AngelSoft / their deal tracking system. Prioritize replying quickly.
- ACCEPT that you cannot get everyone on board for each meeting. If you try to get everyone, you have to space meetings out too far and you lose momentum. In fact, just focus on having one set of regular meetings with the deal lead and then INVITE ALL OTHER INTERESTED people to attend THOSE meetings. That way you have one person’s schedule to mostly wrestle with.
- If the deal lead doesn’t have the expertise and credentials in the angel group to champion you/get others to write a check – then it is probably a waste of your time.