Setup for Startup Fundraising

In this tutorial we’ll be covering how to set up LeadLoft for startup fundraising. 

This is a one time setup. You’ll be ready to begin investor outreach as soon as we’ve completed this tutorial. ‍

How long should this take?

You should be up and running in the next 15 minutes.

What will we be covering?

1. Segments
2. Deal Stages (Pipeline)
3. Outreach Settings
4. Quick Views & Workflow
5. Playbooks

Let’s dive in! 

1) Segments

You can edit them here.

For this setup, we recommend the below Segments:

1. VCs - Seed
2. Main VCs

2) Deal Stages (Pipeline)

You can edit them here.

For this setup, we recommend the below Deal Stages:

1. New (Active)
2. Warm Intro (Active)
3. Responded (Active)
4. Interested (Active)
5. Investor (Won)
6. Keep Updated (Active)
7. Next Raise (Lost)
8. No Response (Lost)
9. Not Interested (Lost)
10. Bad Fit (Lost)

3) Outreach Settings

You really can't go wrong with LeadLoft default outreach settings. Just in case you'd like to customize them, here is what we recommend.

• Timezone: Select Your Timezone
• Email Limit: 80-120
• LinkedIn Connect Limit: 15-20
• LinkedIn Message Limit: 15-30

Here are the low and high ends of what we recommend for each outreach limit.

4) Quick Views

Go to your pipeline and use the quick views below it to manage your workflow.

Many of these Quick View will already be setup but here's what we recommend:

New

• Status: New
• Stage: New
• Owner: Me

Request Intro

• Status: New
• Stage: Warm Intro
• Owner: Me

Follow Up

• Status: Follow Up, Task Due
• Owner: Me

Keep Updated

• Status: Follow Up
• Stage: Keep Updated
• Owner: Me

Today's Conversations

• Owner: Me
• Last Communication: Today

5) Playbooks

Next, we’ll be covering how to automate outreach. In this set up, we recommend having 2 Playbooks built out to start. If you need help writing the copy, we recommend downloading our templates here. 

You can create and edit your Playbooks here.

Playbook #1: Investor Outreach

Use: Used to engage cold investor where you have no previous relationship with them. 

1. Automated Email: Book a Meeting
2. After 7 days - Automated Email: Book a Meeting
3. After 7 days - Automated Email: Send Pitch Deck
4. After 7 days - Automated LinkedIn Connect
5. After 7 days - Automated LinkedIn Message: Initial Pitch & Ask
6. After 7 days - Automated LinkedIn Message: Light Reminder

Playbook #2: Follow Up

Use: Used to follow up with investors immediately after a meeting with them.

1. Automated Email: Check In
2. After 7 days - Automated Email: Check In
3. After 14 days - Automated Email: Check In - Share a New Feature or Case Study
4. After 30 days - Automated Email: Check In - Update on Traction

Playbook #3: Monthly Update

Use: Used to add companies who need to be followed up with.

1. Automated Email: Send Update

Wrapping Up

This is our recommended fundraising process. If you want to run a tight fundraising process, this is as close as you can get. 

We understand that this can be daunting if you’ve never run sales but jump in and give it a go. Within a week, we guarantee you’ll be an expert and better yet, you’ll know how to run an effective sales process when it’s time to scale revenue. If you’d like our help setting this process up, simply sign up for LeadLoft here, and our team will be in touch within 24 hours to help you out.

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