012. Sales Process

Text your thoughts directly to Rich.

You need to treat your fundraise like a sales process. The difference is that with fundraising, you need to close everyone all at once.

About SpringTime Ventures
SpringTime Ventures seeds high-growth startups in healthcare, fintech, logistics, and marketplace businesses. We look for founders with domain expertise, forging a path with a truly transformative technology. We only invest in software-based businesses in the USA. We bring a people-focused approach, work quickly, and reach conviction independently. Our initial check size is $400k to $600k. You can learn more about us and our approach.   

About Rich Maloy
Rich's mission is to rebuild the American dream through entrepreneurship. He works with early stage startups transforming the world, giving all people the opportunity to grow, learn and earn. With prior careers in finance and sales, he's now focused on startups investing through SpringTime Ventures where he is a Managing Partner. He's a father of two young children and loves sci-fi, skiing, and video games.  

Episode Transcript

Rich (00:01):
You need to treat your fundraiser like a sales process.
At its core, selling andfundraising are very similar.
In both cases, you're exchangingmoney for something of value.
In both cases, you're competingfor a limited pool of money from
people with a limited amount oftime that have a wide selection
of choices available to them.

(00:22):
The difference is that withfundraising, you need to close
everyone all at once.
Hence, Pool Party.
Treating your fundraise like asales process doesn't mean that
you need to be a sales person.
It means that you should beorganized because organization
gives you focus.
When you know how many investorsyou have at a particular stage,

(00:42):
say for example, First Meeting,then you know where your
bottlenecks are.
And you know who you need to goback to, to edge them closer and
closer to the pool.
But more importantly, you knowhow much potential investment
you have at each stage.
When you aggregate all of thosepotential checks together that

(01:03):
number becomes powerful.
That number starts to show howcool your pool party is.
It shows how many other peopleare around the edge of the pool.
This is critical and if you'renot tracking it, you can't
report back on it.
You can't communicate it back toinvestors.
I'm going to reiterate this.
You need to know how muchpotential capital you have at

(01:25):
each stage.
And here's why.