Running a startup naturally revolves around key milestones, such as launching a product, securing a first customer, and various rounds of financing. We often come into contact with deep tech founders as they start preparing for one of these business landmarks, for example as they start reaching out to venture capital firms, perhaps for only the first or second time.
The keys to this preparation are simple: do it early, be clear and decisive, and be thorough.
Start yesterday
The most frequent ‘head-in-hands’ moment we get is when a founder comes to us for help, but needs everything done by the next week. If you have closed your round and it’s important to announce it as soon as possible, you have left it too late to adequately prepare your communications.
Sending out a press release is the easy bit. But communications isn’t a last-minute thriller to be packed in the night before. If you want your comms to add real, strategic impact to your business, it should be a long-lead instrument that builds reputation, conveys expertise and outlines opportunity.
Raising money is partly an exercise in storytelling and partly an exercise in credibility - both key metrics in a communications playbook, and both take time to establish and get right.
Get your story straight
Investors buy conviction as much as they buy code. They are looking for the belief that you, the founder, and your leadership team can convince customers to buy your product or service.
Your pitch deck is as much an exercise in narrative as it is in the numbers - both are vitally important. No investor is going to invest if the numbers don’t add up; obviously, you need a viable business in a market that has realistic scale. But without the story, investors won’t feel the spark, and they will find it hard to imagine potential customers getting that spark either.
Your technology might be complex, but your message shouldn’t be.
Pay attention to the details
Small details matter. Whether it’s spelling errors or visual cues, investors notice the small things, and will often attribute them to operational competence. Without stereotyping too broadly, we’ve seen this be a real challenge for the more scientific deep tech founders, for whom the technology is everything.
But clear and concise operational information makes it easier for investors to say yes. Clear and visually impressive slides make it easier for investors to stay engaged and focus on the important things; if you’re delivering your most important facts and figures, but your audience is distracted by the colour scheme or the font choice, you lose the impact of your most important asset.
The challenge for deep tech founders
Entrepreneurial life naturally entails jumping from one thing to the next, and it can often feel like a bit of a spin cycle. Preparing in advance can feel like a luxury, but it’s one that makes a huge difference.
The deep tech startups that we work with in advance of a funding round raise an average of 150% of their original target. Effective and properly planned communications means more money in the bank, more growth and more success.
If you’re looking to raise money in the next 6-12 months, get in touch, and see how we can help: info@commplicated.com
