- Have many investors compete to fund you all at the same time.
- Scarcity tactics get people to buy, use those principles for investors, customers and hiring.
Venture hacks has a good, simple post on raising money for your startup.
Don’t talk to one investor at a time, talk to all of them at once. It’s the only way to get market-clearing terms.
Meeting every investor over a short period of time creates a positive feedback loop of social proof and scarcity that closes deals.
A big splash takes more time and money up front, but it generates much better results over the long haul than a slow grind.
- Can you ‘launch’ the funding stage of your business just like you are going to launch the business after you get money? A burst of excitement with a group of investors will be more effective than grinding it out one by one.
- Can you use similar scarcity tactics to get customers competing to buy from you? Limited time offers, auctions and early bird bonuses can all add that early buzz to quickly establish momentum.
- Look at hiring the same way. What do you have to do to get a flood of applicants competing to work for you? Can you bring many applicants in the same room together to show them that your firm is the place to work.