Remember that scene from Jerry Maguire where he tells his client, “HELP ME HELP YOU!”
Each day I get a message from an entrepreneur asking for help finding an investor for his or her startup. The message goes something like this, “Working on the next big thing, can you refer me to a few local investors?” In variably I will put this request in my ‘to-do’ mailbox and forget to respond. Sorry? Not sorry? Here are 9 things I need so that I can you can help me help you:
- Explain the stage of the product/service: idea, prototype, mvp, revenue, growth, exit…
- Tell me about the team: how many people, functional skills, full-time/part-time…
- Explain the funding you seek: seed, angel, series a, series b
- Tell me how much you are going to raise: $100, $250, $500, $1M (whatever)
- Tell me the form of the investment: common stock sale, preferred stock stale, note…
- Tell me who you’ve talked to previously and their thoughts
- Tell me how you plan to spend the money – i.e. what are the use of funds?
- Tell me your future fund raising plans after this raise.
- Send me your fund raising docs (if available) and your deck (a must).
You may not have all of this information, but send as much as possible. Save me time. If I can help I will. If you make me send you an email asking for this information – well I’m not going to. I might send you this post and ask you to try again. But no hard feelings right?