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- ♞ Pausing Fundraising For Holidays
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Pausing Fundraising For Holidays
Many founders make critical mistakes during the holiday season when they are fundraising.
Nobody should plan to be in the middle of fundraising this time of year, but unfortunately, for many who were aiming to close by Thanksgiving, their raises can stretch into the new year. Other first-time founders might not be aware of the difficulties of raising money this time of year and may have planned to run a raise through the holiday.
No matter your situation, here are some mistakes to avoid:
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Stop following up - Most VCs take weeks off around the holidays; if you aren’t getting replies, stop following up. If a VC returns from the holidays and has loads of messages from you, you’ll appear desperate. Send one message, then let it be.
Delay - VCs are moving slowly in December, so proactively delay your raise instead of chasing them around. If you can tell VCs now that you will be postponing your raise till January, you can stay in control of the timeline and avoid chasing VCs around.
Relax - Most founders get overly concerned around this time of year as things move slowly in contrast to the usual fast pace of the startup world. You need to learn to relax. If you are stressed about the slow pace, you’ll make mistakes. It is best to get used to it for a few weeks and avoid putting pressure on those around you.
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