If you're fundraising, or thinking about it, there are a lot of places to turn. This blog post is a great place to begin for advice on an angel or Series A raise.
While many entrepreneurs are 'too busy to blog,' others take the time to share the knowledge they've amassed. I've created a "bundle" of the top RSS feeds of entrepreneurs who blog, as well as a "bundle" of the top RSS feeds for angels and VCs who blog. Subscribe to them both. Included are blogs from the likes of Chris Dixon, Brad Feld, VentureHacks (Nivi & Naval), Dave McClure, Marc Andreessen, Ben Horowitz and others -- basically all rock stars for geeks.
I've also written a series of blog posts about our experience raising $1MM for AppMakr. The raise took us 14 weeks, and my goal is to help other entrepreneurs do it more quickly and efficiently. You can read my "Fundraising Cribsheet Manifesto" here. Also useful might be the Founder Conference 2010 and Founder Conference 2011 videos I captured.
I'd also encourage you to ask me for the free VentureHacks bible material. More on that here.
But lastly, there's a great new book by Brad Feld and Jason Mendelson called Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist. It's a must read if you're thinking about fundraising or currently fundraising. You can see my full review of the book on the Amazon page. I generally encourage you to get all the free material you can (and even strike deals with folks like VentureHacks to bring you their normally not-free material for free) but in this case, the book's cost is minimal and will pay for itself many times over. I can't recommend this book highly enough. It'll make your fundraising process more successful, and it'll make you fluent in the language that VCs speak, giving you access to more deals and faster results. Like Bob Nelson, a great advisor of ours once said, "You're only as good as your second-best term sheet." This book will help you get into that position.
Take turns being the dealer. Do the raising and calling the same as you would with a regular dealer, you are just taking turns, and the dealer plays as well. It would be cool to have everyone cut the cards after the initial shuffling, or just have the person next to the "dealer" cut them once or twice. we play with just $10 a player, and then split up all the chips so that everyone begins with the same. whoever is last at the table wins it all. The amount each puts in is up to you, but you might not get so many players if you go too steep for the fee. You can play however you want, but that is how we do it, winner takes the pot at the end of the night. Have fun! (and good luck!)
Hey thanks, awesome emailer who shall remain anonymous! (Unless you want to reveal yourself)
Daniel - hope all is well - have to catch up again soon.
Thanks for the most recent post. I'm looking forward to reading Brad's book - sounds like lots of great lessons learned.
Also, a repeated note of encouragement and thanks to you, for taking the time to share such thoughtful posts. I often retweet and share them with our followers.
You have inspired me to refocus my own blog much more purposefully on a couple of really solid posts each week - on entrepreneurship, personal productivity and relationship development as key contributors to reaching one's goals and living a life of significance.
Thanks again for sharing!
All the best - continually wishing you well
LadLynn, awesome, so happy that it's helpful. If you would, please post your own review of the book here as well, I'd love to know what you think of it.
Brendan Baker, an MBA student at Oxford, created a phenomenal infographic (pdf) of our $1MM angel raise for AppMakr. Here's how to read it and what it means. Additionally, below is a 7 minute interview I did with Brendan going over the top points gleaned from the infographic.
Brendan followed our raise from before I even moved from DC to SF last summer. I made a few trips to SF as I began the raise process, and then moved to SF fulltime in July 2010. The raise was wrapped up by October 2010 (here's the party we had to celebrate!). The core of the raise happened over a 14 week period.
How to read the infographic:
I launched my August fundraising campaign a couple of weeks ago, and I am looking to raise $2,000 to either through donations or the sale of my art. All funds will go towards the production and promotion of my next album of music.
Here are all the details:
If I raise the full amount, I will film a low-budget video to a new dance song that I will record. This is something I've never done and always wanted to do. What better way to motivate me than with a huge glob of grattitude.