Last week, I wrote a thread about generating momentum for startups.
Today's thread is on how emerging fund managers can generate momentum for their fund.
Whatever you do, momentum is so impt to get ppl onboard -- for hiring, for sales, for fundraising.
Read on >>
1) First, why does momentum matter?
Think about it from the "buyer's perspective" -- it is almost ALWAYS better to wait and get more information if you can get the same deal. Right?
More info on a potential investment. More info on a new product. Etc.
2) There are few situations where it's impt to be a first mover.
If you're a product buyer, it could be you have a dire situation at your company that alternatives can't handle.
But if you have a decent alternative (alternative product or alt investment), it's better to wait.
3) That means it's YOUR JOB to create momentum. Whether for fundraising, sales, or hiring.
So with that in mind, how do you generate momentum for fund fundraising?
4) In a prior tweet about generating momentum for startup fundraising, essentially I said to limit your supply (the amnt you are raising) in tranches AND to increase demand by packing in mtgs.
Unfort this doesn't quite work well for funds.