Most investors don’t close right away. In fact, it typically takes 4 updates before an investor commits. Many startups simply fail to send updates and therefore don’t close deals.
For all the investors in your pipeline, be sure to follow up every 3 to 4 weeks with the following progress report:
SALES – What sales have you closed in the past month? What’s in the pipeline for next month?
TEAM – What great things have your team members accomplished in the past month? Highlight their skill sets.
PRODUCT – What progress have you made on the product? How did your customers influence your choices? And what’s the plan for next month?
INVESTMENT – What investor traction do you have: Interested investors, committed investors, and capital raised this past month?
