Why Founder Grit is a Fundraising Prerequisite
9 May 2019 · 1 min
0:48
Founders need grit to fundraise. Warm introductions matter more than cold emails, 90-95% of investors say no initially, and landing your first investor makes the rest easier.
Founders need grit to fundraise. Warm introductions matter more than cold emails, 90-95% of investors say no initially, and landing your first investor makes the rest easier.
at the Founder Institute, and in addition to that, I am also the local leader for tasks that an entrepreneur has to go through. It's not uncommon for 50 investors to close their round, and for every single one of those investors, you need essentially a warm intro. You can't basically cold email investors and expect that they're gonna write back. The reason the volume is so high is because 90 to 95 out of those 100 people that you spoken to are going to tell you no for whatever reason. And so you're going to have to be able to basically persevere through that until basically somebody says yes. And then once that happens, then it'll be much easier to come in for other investors to come in and follow that first person.
