Startups have a mission to fulfil in the world, but often lack the funds to do it themselves. This is why fundraising events are so important in the life cycle of each new company. Each startup has its tactic of encouraging investors to back their idea, but they all could gain from using the tools mentioned in our blog posts.
Here are our 5 must-have tools for startup fundraising.
1. Shareable app suite
Fundraising is a complex endeavour. It requires the fundraiser to reach out to people, write down notes, gather resources of where they could try to get funding from. All of these activities can be done from within a shareable app suite as Google offers with their Workspace plan.
This plan includes e-mail, shareable documents, personalized sites and many more tools that could make the life of the fundraisers much easier. Some of those tools might overlap with fundraising data room features, but a shareable app suit can also be integrated in that software solution.
2. Freelance portals
As bosses of a startup you might not have enough time for all the activities that surround a fundraising event or campaign. Design, marketing strategy, or even brochures can all be outsourced to freelance portals like Upwork or Fiverr.
Competent creators worldwide are available at the click of your mouse to help you create something great. With rankings and comments about the work of each individual, it is easy to make up your mind about whom you should choose. And later, if the freelancer proves themselves competent, they could become your new co-worker and business partner.
3. Competition research
To know how to appeal to potential backers, you might be tempted to check how your competitors have managed to get funding, and what their overall strategy looks like. Through sites like Crunchbase or AngelList, you can grasp what others are doing on the market. Those portals are not only great tools to make research but also a place where potential business deals could be made.
Knowing who is in the same market as you might give you the advantage that you need. And you are not forced to compete with them, because you can work alongside them. Startups need to support each other because together they could achieve so much more, than just working in seclusion.
4. Mass email
If you have taken care of finding the potential backers, researching the market, and putting all of those data points into a spreadsheet, you can start thinking about mass emailing your prospects. Many tools help you do that. One of the more popular ones is called MailChimp and is an all in one solution for all of your e-mailing needs.
Creating templates, scheduling campaigns, and even building small websites is possible from within the software solution. It would be a much more strenuous process if you were to send out hundreds of emails manually. Not only would it cost your precious time, but it could also lead to an overburdened email inbox later on.
5. Virtual data room
If the e-mailed prospects are interested in your startup project, you need to show them what your idea is about. Data room software allows you to do that in a secure environment, that is both accessible to you and safe from data leaks.
VDR software helps organize your most precious documents into categories, embed a Q&A module into them, and later share with the interested party. Virtual data rooms are already used in big M&A deals all over the world, and there is no reason why you shouldn’t use data room services for your startup ventures.
Getting funding for your own ideas is a difficult process, and with the help of the aforementioned tools, it should be much easier for you to get the resources that you need.
With a dedicated app suite you can organize your plan and schedule meetings, through freelance portals you can find help, and sites like Crunchbase or AngelList would help you get a feel for what kind of other startups are in the industry.
An email tool like MailChimp could get your message to the right people, and by using a virtual data room for fundraising, you would have a place where you could show what you care about.