Prioritize your list by Fit vs. Access
Last updated
Last updated
Prioritizing investors by Fit vs. Access will help you focus your efforts where they’re most likely to pay off. A semi-good fit with a warm intro can yield much better results in the early days of your fundraising than a perfect fit but with no intro and cold access.
When prioritizing your investor list, you can use the custom columns on your Fundraising Board - it will help with keeping things systematic.
This is your sweet spot. These are investors who are highly relevant to your startup and are within reach through your network.
Next Steps:
Direct Access: Start reaching out as soon as possible to get the first traction and first feedback.
Warm Access: Review who from your network marked which intros in the CRM and prepare template intro messages accordingly. Keep track of the intro preparation and progress with tasks and notes.
These investors may not be an ideal match for your startup, but they can still expand your reach to other relevant investors or share insights for your fundraising process.
Next Steps:
Identify their potential value beyond direct investment, such as introductions or feedback. Mark it in the investor profile notes.
If the majority of your list falls into this category, you should start preparing to go cold. Cold outreach doesn’t stop from successfully closing the round, even though it requires more preparation and persistence.
Next Steps:
Refine your pitch to stand out in cold outreach.
Research each investor thoroughly to personalize your messages.
Prepare for a systematic outreach process and follow-ups.
This segment is the lowest priority and should be treated as your fallback option. These investors are unlikely to engage unless you’ve already made significant progress in your fundraising, such as closing a major commitment or securing strong traction.
Next Steps:
Reserve these investors for later stages in your campaign.
Revisit this list once you have notable updates to share, such as hitting milestones or receiving high-profile backing.
Once you prioritize your list by Fit vs. Access, you will have a good understanding of what you should do next.
Do you have 20-30 investors in your Fit & Warm Access? -> Great, start reaching out to your direct connections and preparing warm intros. Your first steps of the outreach are defined.
Is the majority of your list in cold access? -> Start preparing to get cold and planning the best channels of reach for the investors.
