1/ Quick high level advice for founders on fundraising material. The five elements of data you need for fundraising, and the "Notion alternative":
Core: The Everything Deck. Master deck you use for intros, pitching, "leave behind" and everything else. The one and only.
Core: The Everything Deck. Master deck you use for intros, pitching, "leave behind" and everything else. The one and only.
2/ One level down: The Narratives.
A set of subdocs that explain key elements of your business and address core areas of diligence. E.g. cohort analysis, GTM, product roadmap. Docs format easiest, think Amazon memos.
Make it easy for investors to copy / past from these.
A set of subdocs that explain key elements of your business and address core areas of diligence. E.g. cohort analysis, GTM, product roadmap. Docs format easiest, think Amazon memos.
Make it easy for investors to copy / past from these.
3/ Two levels down: Underlying Data.
The Narratives are there so investors don't misunderstand your data or skim over it. It's dangerous IMHO to just drop investors into spreadsheets and hope they make sense it.
The Narratives are there so investors don't misunderstand your data or skim over it. It's dangerous IMHO to just drop investors into spreadsheets and hope they make sense it.
4/ Three levels down: Legal / Financial / Accounting.
You only need to release this in execution and after term-sheet; otherwise you're just data dumping too early.
You only need to release this in execution and after term-sheet; otherwise you're just data dumping too early.
5/ Useful bonus materials: Market Intelligence.
Detailed market mapping -- not just your competitors but ecosystem players that live around you -- core tech providers, partner companies, channel partners, acquirors.
This may save you prospective investors huge amounts of time.
Detailed market mapping -- not just your competitors but ecosystem players that live around you -- core tech providers, partner companies, channel partners, acquirors.
This may save you prospective investors huge amounts of time.
6/ Now REMEMBER -- data rooms are where processes go to die.
You need to engage in conversation, understand questions and objections, provide answers that are specific to these and meaningfully move the process to a close with every interaction.
You need to engage in conversation, understand questions and objections, provide answers that are specific to these and meaningfully move the process to a close with every interaction.
7/ Finally the "Notion alternative": highly scripted, beautifully design run-through of your entire business.
Done well they demonstrate thoughtfulness and align everything to a narrative that you designed. You also have an infinite canvas with drill down opportunities.
Done well they demonstrate thoughtfulness and align everything to a narrative that you designed. You also have an infinite canvas with drill down opportunities.
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