What is the best way to follow up after pitching to investors?

In my journey as a CEO and founder of a company that specializes in providing top-notch virtual assistants, I've pitched to more investors than I can count. Each time, the follow-up process has been as crucial as the pitch itself. Here's the thing: investors are swamped with pitches. Standing out doesn't just mean having a great idea; it means being memorable even after you've left the room. The best follow-up, in my experience, strikes a balance between professionalism and personal touch. I always start with a thank-you email, sent within 24 hours of the meeting. This isn't just about good manners; it's about keeping the conversation going.

Don't delay sending the follow up! I've found it incredibly helpful just to have a quick appreciation email ready and sent to investors 1 minute after a pitch ends. The template is super simple: "Hey [Investor Name], thank you again for making time to chat with me! Let me help get back to you with [item 1, item 2, item 3, etc. discussed over the call] and I'm looking forward to [next meeting/next call/completing a key action item/etc.]. Best, [Signature]" Personalize the above for yourself, make it your own, and send it!

One thing found helpful: Sending a thank-you note after pitching to investors is crucial. It's a powerful gesture that conveys appreciation, professionalism, and enthusiasm. Actually, I disagree with: Including a call to action in the thank-you note is unnecessary, as investors might feel pressured. Example related to this: For instance, a personalized thank-you note expressing gratitude can stand on its own and doesn't need an additional request for feedback or meetings.

Extend your appreciation beyond the immediate pitch by spotlighting success stories of your current team members. Craft a brief section in your thank-you note that showcases the achievements of individuals within your organization.

Investors time is valuable and should appreciate the time they have shared with us. Whenever you get a chance, appreciate the same and say thank you. If you are sending a thank you note through email or message, you can also ask them for the further steps. It is also a good idea to ask them when can you expect to hear back from them.

After pitching to investors, the best way for me to follow up is with a concise and professional email. I express gratitude for their time and interest in my venture, reiterating key points from the pitch to reinforce the value of the opportunity. I include any requested or additional information they may need, such as financial projections or a detailed business plan. propose a specific next step, whether it's a follow-up meeting, a request for more questions, or a timeline for decision-making. This proactive and organized approach demonstrates my commitment and respect for their time, increasing the chances of a positive response. Always remember if a investor refuses to invest simply send a Thank you note for giving their time:)

A thank you note is a great way to keep the conversation going. Be sure to highlight the key points and metrics that interests the investors. It is also a good idea to have a follow-up cadence and check with the investors if they have any preferences for following up - timeline / mode / format…etc. While some investors may not want to invest right away, there are instances where they reconsider investing when you showcase significant progress in your business. Long story short - plan, build and verify the cadence with the investor.

Sending a thank you with a follow up as you may have agreed during your pitch. For any reason if you didn’t had the chance to agree on follow up, still do that after 10 working days. In those 2 weeks you would have spoken to other investors and may have come across different questions. From personal experience, I post updates on LinkedIn to keep my investors pipeline updated on progress.

Send a personalized thank you email to all the investors who attended your pitch. Express your gratitude for their time and interest in your venture. Make sure to reference specific points from your presentation to show you were attentive to their feedback and seek feedback If investors requested additional materials or information during your pitch, make sure to promptly provide those details. This demonstrates your responsiveness and eagerness to meet their needs.

Sending a thank-you note might sound like a simple gesture, but it's actually a powerful way to follow up after pitching to investors. Think about it – investors meet with numerous entrepreneurs every day. What sets you apart? A thoughtful, personalized thank-you note does the trick. In your note, express your gratitude for their time and attention during the pitch. Highlight specific points from the meeting that resonated with them.

The best way to follow up after an investor pitch is send an email showing how 1) the business has momentum and 2) the round is filling up. To do this effectively, you will have to wait until you have some positive markers (hopefully only a few days) A few examples of business momentum: key hire agreed to join, new customer closed, new product feature shipped, customer waitlist increased. This type of business momentum will have a huge impact on an investor who does not have conviction to invest yet but is leaning in. Similarly, as you gain commitments in your round, feed that back to the investor to show that the round is moving with or without his / her investment. It's human nature not to want to miss out on a great opportunity!

Don’t just reach out when you need funding. Engage in genuine relationship-building activities. This takes time, but I guarantee it takes less time than cold pitching all day long. Be a human, be friendly, ask for advice etc. People are much more likely to respond this way, and you're opening doors that will potentially stay open far longer than if you just cold pitch. Getting funded takes time, patience and persistence, but in a healthy blend.

In my follow-up routine post-pitch, I prioritize providing updates and milestones. I keep investors informed about any significant developments, showcasing progress and achievements aligned with the discussed proposal. This not only reinforces the potential of the investment but also demonstrates a proactive and transparent approach. I attach concrete data and achievements, emphasizing how their support would contribute to future milestones. By keeping the conversation forward-looking and results-oriented, I aim to maintain investor interest and confidence in the proposed venture.

Beyond retrospective updates, introduce forward-looking indicators that offer investors a glimpse into your anticipated future successes. Whether it's projected user acquisition, upcoming product developments, or forecasted market share increases, these metrics provide a proactive narrative of your journey. Align these predictions with the initial pitch, demonstrating a strategic alignment between your planned milestones and the goals outlined during your presentation.

One thing found helpful: Regular updates to investors have proven highly beneficial. They demonstrate progress, build trust, and validate assumptions. Actually, I disagree with: Sending updates monthly or quarterly may be too frequent; investors might prefer less frequent, more substantial reports. Example related to this: A startup sent monthly updates, but investors found them overwhelming. The company switched to quarterly reports, which were better received and still showcased significant progress.

In your follow-up email: Share the presentation deck. Answer any remaining questions. Send additional requested materials. But here's the twist: Along with facts and figures, tell compelling stories. Facts are essential, but narratives make the real impact. Also, keep some exciting details in your pocket; you don't have to reveal everything upfront. After a week or two, use these details to reconnect. It's a way to stay on their radar without overwhelming them. Share recent achievements and milestones. Reignite their interest and remind them of your business's potential.

This is probably the most underutilized helpful follow-up type. While I see it happening more, there is really no reason not to do this with target investors you’re very interested in partnering with. Investing is not like dating where you can’t stop thinking about those you’re really interested in. There are plenty of startups that receive investment where the initial pitch wasn’t the reason the investors were ultimately convinced. Remember, lines are more powerful than dots.

If you have been into discussion but even if you haven't raised the funds yet, "Stay in Touch". And the best way to Stay in Touch with Potential Investors is to share the lil updates, milestones and progress with them. Examples - Ask for feedback about a new feature that you're building, ask if the decision you are taking is ok?

Updates are the best way to share information related to: 1. Significant partnerships you have secured. 2. Revenue or user targets you have achieved. 3. Acquisition channels you have successfully tapped into.

I don't believe that you should ask any investor that you are pitching for introductions to other investors until they have already committed to invest. If I get sent a deal from an investor who could invest, but did not, this is a negative signal and not helpful to the founder. Much better to get intros to investors from other founders, mentors, existing investors and others that believe in you and your business.

Propose the idea of a collaborative investor roundtable during your follow-up communication. This initiative involves bringing together a select group of investors to discuss industry trends, challenges, and potential opportunities. Position yourself as the facilitator and expert, creating a platform for knowledge exchange.

One thing found helpful: Asking for referrals and introductions after pitching to investors is an effective way to expand your network and access potential investors, demonstrating proactivity and confidence. Actually, I disagree with: I disagree with the notion that you should only rely on warm introductions and not also engage in cold outreach to potential investors. Example related to this: For instance, while warm introductions are valuable, reaching out to investors directly through a well-crafted email or message can also yield positive results, as it allows you to cast a wider net and showcase your initiative.

Putting investment is a very calculated decision and it can take some time for the investors to make that decision. But all the investors are very well connected in the ecosystem. If you are looking forwards to get introduced to any particular person or organisation and you feel that the investor has those connections, make a polite request with appropriate reason and you might get a warm introduction.

A way to show you are both paying attention and know your stuff as a founder is to follow-up with more detail on a key question from the discussion. If an investor was particularly curious about the market or the product for example you could follow-up with key market insights or product designs and/or analytics from product usage. Ideally this is something you have "at the ready" vs. spending a ton of time building but sometimes it helps to do a bit of work to showcase your understanding of the broader business.

One thing found helpful is the practice of handling objections and rejections after pitching to investors. It's a valuable opportunity to learn, adapt, and demonstrate resilience. Actually, I disagree with the notion of thanking investors who reject you and asking if they'd reconsider. For example, suppose an investor cites concerns about market competition. In response, you refine your business strategy to address these concerns and present a more competitive pitch in future meetings.

You’re trying to sell, influence and persuade them to invest. Reiterate what you heard that was negative as well as positive. Get them to confirm each item in each category. Demonstrate you’re a great listener. Solicit advice as how to improve each variable. Prove you’re willing to learn, change, and summarize their POV. Thank them profusely for their guidance. Let them know you hope they’ll be proud of the fabulous company you’re creating based on their input. Also, you won’t be visiting with them again until Series C. Folks want to be in any deal they can’t get in. You’ve told them there’s now great deal but they can’t get in. Wait to see what (if anything) happens. Minimum you’ll have some fun. Best case you get an investment.

Rejection from investors is a common part of the startup landscape, but it's crucial not to take it personally. Understand that it's often more about the fit with their specific criteria than a judgment of your worth. Rather than feeling disheartened, use each rejection as a motivator to improve. Seek feedback from those who pass on your pitch; their insights can be invaluable. Remember, persistence is key; keep pitching, because every "no" brings you closer to that sought-after "yes." Rejection is just a stepping stone on your entrepreneurial journey.

One thing found helpful: Setting deadlines and creating a sense of urgency in investor follow-ups can be highly effective in creating momentum and excitement, showcasing your commitment, and increasing the chances of closing the deal. Actually, I disagree with: I disagree with the notion that leveraging social proof, like other investors' interest, is always necessary to create urgency. Example related to this: For instance, a well-crafted follow-up email with a clear deadline and a compelling incentive can create ample urgency even without external social proof, as investors are driven by the opportunity itself.

I feel you should only follow up with sense of urgency when it's actually urgent. Investors are smart and experienced enough to understand the real situation. Don't bluff, be Real.

Indeed, creating a sense of urgency in your follow-up strategy is a powerful tool in the startup world. Investors are more likely to engage when they see a serious and committed entrepreneur. By setting clear deadlines and offering incentives, you not only demonstrate your readiness to close the deal but also build excitement around your venture. Sharing your progress and showcasing other investors' interest or commitments can trigger a fear of missing out (FOMO).

One thing found helpful: Following up with a sense of etiquette is incredibly beneficial. It demonstrates respect, gratitude, and professionalism, creating a positive impression on investors. It also ensures a smoother and more respectful communication process. Actually, I disagree with: I disagree with the idea of "avoiding spamming or nagging them." While being respectful is important, occasional follow-ups can be necessary to maintain momentum and keep investors informed. Example related to this: For instance, if an investor has expressed interest but hasn't responded, sending a polite follow-up email after a reasonable interval can be a useful reminder without being intrusive.

Patience is essential in the fundraising process. Investors often take time to make decisions, and it's common to face multiple rejections before finding the right investor.By maintaining a professional and persistent approach, you increase your chances of attracting the investors who align with your vision and goals.

Personalize your follow-ups by addressing specific investor interests and demonstrating how their support aligns with your startup's vision. Keep them informed but avoid overwhelming them with frequent updates.

Following up is a key skill that every entrepreneur needs to develop. Whether it is follow-up with sales opportunities or with investors. How often you follow-up and how you make it interesting and worth the time for the receiver is something you need to determine. While a newsletter is a good "broad" approach, more personalized approaches are better in some situations.

Keep sending them the progress report every month or any special activity or achievement in between. Find out where your potential VC is hanging out and see if you can be part of those conferences or events or Meetups. Be visible without being obvious.

From "The Art of Startup Fundraising" by Alejandro Cremades, the best follow-up after a pitch is a timely, personalized message reiterating key points and next steps, akin to a master archer sending a second arrow to precisely hit the target's bullseye.