Fundraising Friction is Killing Your Round – Here’s How to Remove It

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Friction is killing your fundraise. Here’s how to remove it and close out your round, fast…

Take the example of an awesome founder I spoke with recently.

“An investor told me to require an e-mail address to see the deck,” he said. “What do you think?”

“Don’t require anything. Remove all friction,” I said. “Don’t give them any reason to click off your deck and ghost you.”

Common Friction Points to Remove From Your Fundraising Process

Every bit of friction in your fundraise is costing you money. Here are some common forms of friction to avoid:

Asking for an e-mail address to see a deck
E-mailing back and forth to schedule a meeting (just send a Calendly link)
Requiring anything more than an e-mail to book a Calendly appointment
Requiring passwords or 2FA to see a deck or book an appointment (yes, people do this)
Asking for NDA’s

Make it as easy as possible for investors to learn about your company, get excited, and book a meeting. Those meetings turn into checks.

Any Benefits from Tracking Aren’t Worth the Risks

Some founders think they should require an email address to see the deck so they can track who’s viewing it.

But you already know who you sent it to, right? What’s the point of tracking further?

Any possible benefit is hugely outweighed by the risk they get annoyed and move on to the next deal.

Wrap-Up

Fundraising is sales. If you want to sell more, make your product easy to buy.

Amazon makes it extremely easy to buy from them. You can get just about anything in 24 hours with a couple of clicks.

They’ve removed all friction. And who’s selling more than them?

Learn from Amazon. Make it easy for investors to see what makes your startup special.

What’s one piece of friction you’re removing this week?