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- ♞ Announcing a Closed Raise Part 1
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Announcing a Closed Raise
The most overlooked part of a successful raise is often the announcement. I’ve worked with so many founders who raise money and never plan ahead to strategically announce their raise. Many of them don’t even think about it until a VC or advisor asks them for their plan.
This week, I want to discuss this topic in two parts:
1. Today - Why you need to care about this.
2. Wednesday - How you can nail the announcement.
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Why should you care?
There are three reasons why you should be aiming to nail your announcement.
Sales - Announcing that you’ve raised Venture Capital provides a level of social validation that should lead to a surge in sales for your business. It can help put you on a sustainable path to increased revenues if done correctly. This isn’t possible if you don’t build the infrastructure around your announcement to accommodate or drive demand.
VCs - Investors love to see a company's growth; they also hate missing out on deals; if they see that you have raised, they are more likely to invest when you reach out to them in 12-18 months about your next raise. They are also likely to have some FOMO about missing past raises. You can start laying the groundwork for future raises with a smart announcement.
Hiring - If you are looking to grow your team with your new funds, promoting your raise through the right channels can help you attract talent. For example, featuring it in Hacker News could help attract developers, featuring it on LinkedIn can help attract marketers, executives, etc.
Bonus - You can also target your announcement to specific goals, I know a company whose entire goal was to get a strategic partnership from a big brand. They raised a small round just to be able to target that press at the executives of the major company. It worked and they got their partnership. I know of companies who have raised small amounts to try and get some news coverage on Tech Crunch to get before YC and other investors before reaching out to them. There are ways to strategically target an announcement for a specific goal outside of the there more generally beneficial reasons provided above.
Do you plan your raise annoucement? |
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Ease being the key word. With automated tool like portfolio rebalancing and dividend reinvestment, Betterment makes investing easy for you, and a total grind for your money.
Are you looking to grow your business? Here is how I can help:
📱 Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)
Onwards and Upwards,
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