Seth Goldstein Michael Simpson – The Secret of Raising Money
You can raise money easily…
You just have to know the rules..
I opened the email and my heart rate skyrocketed. The message read:
“Hey Seth and Michael – I’m in for $200,000. I will sign and wire by Friday. Excited to be on board.” [investor name redacted]
Friday came… and Friday went. But no money showed up in our account…
Days later, the investor who sent the email told us he had to withdraw.
I was stunned. Seth was not…
See, I had assumed that when investors commit in writing, it means you will receive money. Not so. Thus began my education about how fundraising really works, and when I learned for the first time (of many) that “It’s not over until the money’s in the bank…”
My name is Michael Simpson. I’m a co-founder of DJZ and the co-author of The Secret of Raising Money, which I wrote with Seth Goldstein…
Seth has raised $100m over the last twenty years, has sold two companies, co-founded Turntable.fm and was Fred Wilson’s first EIR. So I was lucky to learn fundraising at the heels of the world’s best.
“Seth Goldstein: the master fundraiser”
“Seth Goldstein has been a master fundraiser since I met him in the mid 90s. He has finally gotten around to sharing his secrets with the rest of us”
FRED WILSON, Co-Founder of Union Square Ventures
But we don’t all have the good fortune of working with someone like Seth… Instead, we rely on blogs to help us understand what fundraising is like. But here’s the thing:
Tech Bloggers Create The Illusion That Fundraising Is Easy…
“Payments Startup Clinkle Raises $25 Million Seed Round…”
“Music platform Splice nets $2.75 million…”
When you read the tech press, it seems like everyone is raising millions of dollars all the time. That there is too much money to go round. That all startups are literally swimming in cash…
Reality is very different. The odds of you raising money from any given VC fund are around 0.5%…
For 3 years, Andy Dunn, CEO Of Bonobos, was 30 days away from being unable to pay his rent and 90 days from his company running out of money. He managed to stay afloat by raising tiny angel checks from 100+ angels.
The AirBnb founders famously sold cereal boxes in order to stay afloat.
Despite what the media will have you believe, raising money is a complex game with a specific set of unwritten rules. These rules can be broken, but if you walk into the process unaware of what they are, you stand very little chance of being successful..
I’m based in San Francisco, and many of my friends are entrepreneurs. Any time one of them goes out to raise money, I watch as the fundraising process takes over their life. Product development grinds to a halt.
The big questions they struggle with are always the same –
“What should go into a pitch deck?”
“How much I raise?”
“When is the right time to raise?”
“How do I meet investors?”
“Should I use equity or debt?”
“Should I use AngelList?”
And most importantly: “How do I turn conversations with investors into what I need the most: money in the bank?”
Even after all those questions are answered, I hear this: “But I’m not well known! No VCs have even heard of me.”
I learned the answers to all these questions from Seth as I worked alongside him.and that’s why we decided to write The Secret of Raising Money..
You Don’t Have to Be Well-Known to Raise Money
I wasn’t well-known either when I started worked with Seth on fundraising at DJZ. In fact – I didn’t even know the first thing about fundraising. But after he taught me the ropes I raised hundreds of thousands from VC’s and angels within a few weeks.
And I started teaching friends how to do it too.
Now, Seth and I have decided to teach even more startup founders. That’s why we’ve written The Secret of Raising Money…
“Crucial Strategies”“The strategies I learned from Michael were crucial to kickstarting my angel round at Crowdsporting. If you want to master fundraising, buy The Secret of Raising Money”
Eric Martin, Founder of Crowdsporting
You could reduce the time you are spending on fundraising by 45% or more?
You knew how to get meetings with top investors quickly, and you knew exactly what to say to them to get them interested?
You had access to the collective knowledge of the best minds in Silicon Valley?
Presenting: “The Secret of Raising Money”
The Easiest Way to Go From Bootstrapped To Funded.
You’ll get culmination of 20 years of fundraising and literally 1000s of hours of effort that condenses the best wisdom on how to get funded into a single book…
You’ll ALSO get a pitchdeck template library, financial model templates, cap table, budget, exclusive new video interview footage, and much much more.
Learn all of the following:
The networking mistakes you are making today
The techniques you need to get investors whipped up into a frenzy over your company
Why your financial model is meaningless
A formula for choosing the right investor for you
Why your pitch sucks and how to fix it
“A Comprehensive Guide.”
“As an entrepreneur, you’ll likely raise money for any startup only a handful of times which is part of what makes it a tedious process. Seth and Michael have put together a comprehensive guide to the process so you’ll be set up for success.”
Hiten Shah, Co-Founder of Kissmetrics and Crazy Egg
Get insider information from the world’s best VC’s..
You will get access to interviews from some of the finest minds on fundraising on the planet. For example:
Co-Founder of Union Square Ventures
Partner, Upfront Ventures
Partner, Index Ventures
Co-Founder, First Round Capital
Co-Founder, Foundry Group
Co-Founder, True Ventures
Here’s what’s inside the book
Chapter 1: Set the course
Funding sources (e.g. Angel, VC, crowdfunding etc.), and the pros and cons of each
How to choose equity or debt
How to make your debt sexy
Timing: Learn when to raise your round
Overview of funding rounds (Seed, Series A etc.)
Co-ordination and emotional investment – how to prepare for the rollercoaster
Chapter 2: Prepare the materials
Learn how to craft your 1 sentence, 30 second and 30 minute pitch
How to craft an e-mail summary
Build the perfect pitch deck – slide by slide instructions. Includes information on market sizing
Learn how much you should raise
What to put in your financial model
Why “business plans” are irrelevant
Chapter 3: Meet investors
How to pick the right targets
The no.1 technique you should use to meet investors
The cold e-mail
Meeting investors via blogs
How to use AngelList
Chapter 4: Sell your story
The three key components of investor psychology
The three criteria investors use to evaluate you
The three key pillars of entrepreneur psychology
Preparing for the pitch
How to pitch
What to do after the pitch
Chapter 5: Close
What to expect from legal due diligence
What to expect from business due diligence
The clauses of the term sheet, and the market standard for each
The clauses of a convertible note and the market standard for each
and much, much more…
“A must read for young, budding entrepreneurs”
“Given Seth’s wealth of knowledge on this topic, I think that this book will become a must read for young, budding entrepreneurs”
Danny Rimer, Partner at Index Ventures