This article should help with tips and tricks for using Visible to stay organized with your Fundraising process.
Staying organized with your fundraising process is a core reason for using Visible. We have found that fundraising is a numbers game, where you typically need to reach out to 50+ investors to successfully raise a round. It is important to make the most out of each opportunity (meeting, conversation, or email) to continuously improve your fundraising process and related fundraising materials. In this article, we hope to share tips on how you can make the most of your time fundraising.
The main place in Visible that you will use to stay organized with you fundraising process will be within your Fundraising pipeline. Within your pipeline, you can customize the stages and columns included in the pipeline. Once you have any custom stages created you should add investors to your pipeline and associate the contacts related to each investor. Once you have added the associated contacts, any activity with that contact will be included under the Activity tab. Investor activity will include any Visible Updates, Dashboards, Decks, or Data room the contacts have interacted with. Additionally, we built a bcc email logging feature that will enable you to log any email activity that occurs outside of Visible within your pipeline. As your fundraising process moves along, be sure to update the stage of each investor so you have an accurate view where you are with each potential investor.
We have seen that most founders need 5+ months to raise a round of capital.
With this in mind, we have found that a good tactic is to send out a monthly update to any potential investors. Our Updates feature will enable you to send email updates to a contact list or contacts in a specific stage of your fundraising pipeline. These updates will provide information to investors and give them more data points for their investment decision. Often times after a meeting or email update, it is important to follow-up with an investor directly. To help with this, we enable you to set email reminders for fundraising follow ups. Open the investor you would like to follow up in your pipeline and enter a date into the Next follow up field. You (and any team members) will receive an email notification on that date to follow up with that investor.
Another important thing to stay organized with is your pitch deck. A pitch deck is a resource you share with potential investors. A deck will go through multiple iterations over the course of your fundraising process. Our Decks feature will help you to make sure all investors are viewing the most up to date version of your pitch deck. Within Visible, you can upload a new version of your deck and any investor you have shared the link with will see the most recent version. Once shared, you can monitor who is viewing your deck and how much time they spent viewing it.
We also support Data rooms to help you stay organized with your pertinent fundraising documents. Your data room would be shared with your investors towards the end of your fundraising process as a part of due diligence processes. It is very important to have the most up-to-date versions of your documents in your Data room. Often times the level of organization in your data room will reflect how organized you are in your business.
See a list of support articles below that should help you to stay organized with your fundraising process:
- Customizing your columns in your fundraising pipeline
- Customizing the stages in your fundraising pipeline
- How to use our bcc email logging feature
- How to send an update to contacts within a specific stage of your fundraising pipeline
- How to set email reminders for fundraising follow-ups
- How to upload a new version of your deck
- How to view the analytics of your deck interactions
- How to create a Data room in Visible