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How to do this Growth Hack and what can it do for you?
Expected results of this Growth Hack
- Type of marketing tactic : High volume and low conversion level;
- Expected result : Increase in external funds and decrease in the founder's own funds;
Why do this Growth Hack?
There is no magic recipe to get there, it's incredibly difficult.
I strongly believe that you need to determine what your most profitable acquisition channels are before raising funds.
The further you go in finding your customers, your value proposition, and your channels, the easier it will be.
For hardware companies, it's a bit different, but there are crowdfunding sites out there to make it easier for you.
You may be saying to yourself, “I need money to start my business.” Well no, it is a mistake, you should not spend (or the minimum possible) money until you know if you have reached the Product Market Fit.
How do you do this Growth Hack?
- Create a flawless slideshow. The best slide structure is hither and the top 30 presentation decks— hither.
- Find investors that are relevant to your sector and contact them. One by one. There is no better place to find investors than Angel.co.
- Try to schedule a call and let them know. Provide monthly updates to your KPIs. Investors rarely say “no” and raising funds takes an average of 6 to 9 months.
- Prepare the pitch deck (it's not the same as a slide deck). Here is one of the best guides on what matters in the pitch deck, available on TechCrunch's site. hither.
- Good luck and remember: you only lose when you give up.
