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- ♞ Leveraging Milestones To Raise
Leveraging Milestones To Raise
As a user of BeeHiiv, I’ve had the pleasure of watching this startup grow over the past few years. When I first started using BeeHiiv and working with their team, we were figuring out how to make the newsletters look right. Now, they are flying high, with over 4.5 billion emails published last year on their platform, a fully integrated advertising network, and much more.
One strategy that I have seen BeeHiiv consistently use to raise capital is leveraging its milestones. This company has perfected the art of turning every feature launch and numerical checkpoint hit into a massive online showing of support for the company.
Today, I want to discuss what I’ve seen from them and how you can replicate this strategy.
I’d highly recommend following BeeHiiv on Twitter if you haven't already done so. Their X is a mix of comedic posts about their industry and (more importantly) announcements that they use to build a narrative around their company. Here is what they do:
Every time they hit a milestone, such as launching a new feature, or making $1M, they make a video or post about the milestone.
In their post they take their time to show how this milestone feeds into a bigger trend/vision that the company has. They take each milestone as an opportunity to pitch their company and use the milestone as evidence that their thesis is correct.
They have everyone at their company share/RT the video and blog so that it gets maximum traction on social media.
Why does this work? Similar to monthly investor updates, it allows VCs to see the company's progression and growth. Every few weeks they will go onto X and see another story about how BeeHiiv is improving and getting more users or better features. The genius of it is that in addition to working like an investor update, it also gives investors the illusion that they are “finding” the company. Investors love investing in "found” companies where they feel they scouted and earned the investment over companies that come to them asking for money. This dynamic also gives startups more bargaining power when they are being approached instead of needing to reach out.
This strategy won’t work for all startups, so don’t force it but if you can apply it, then its definitely a winner if done right!
Do you leverage you milestones to help with fundraising? |
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,
