Fundraising Is a Process, Not a Sprint
Raising money is one of the hardest things a founder will ever do. It’s emotional, unpredictable, and full of conflicting advice.
According to Jorian Hoover, founder of Jorian Hoover Startup Fundraising, most founders fail not because they have a bad product, but because they run a bad process. He explains that “the founders who raise successfully aren’t always the ones with the flashiest product — they’re the ones who run the best process.”
Over the past several years, Jorian has coached hundreds of founders through every stage of fundraising. His approach is rooted in structure and discipline — doing the hard prep before you start raising and managing momentum once you’re in the market.
Here’s his framework for running a clean, efficient process from start to finish.
1. Start Before You Need the Money
The biggest mistake founders make, Jorian says, is waiting until cash is low. “If you wait until the runway is short, the power dynamic flips — and investors can sense it.”
He recommends starting four to six months before you actually need capital. Use that time to clarify what you’re raising, how you’ll use it, and which investors make sense for your story. He calls this “defining the contours of the raise,” which means getting crystal clear on:
- How much are we raising?
- What will we use it for?
- Who is the right type of investor?
- What valuation range makes sense?
Once those answers are set, founders should run two tracks in parallel:
- Build your materials — deck, story, and data room.
- Build your investor list.
And start warming relationships early. As Jorian puts it, “If you’ve never spoken to a VC and suddenly you need capital, that’s hard. Reach out months in advance, send product updates, and get on their radar before you’re officially raising.”
2. Build the Story Before the Deck
Many founders start by designing slides, but Jorian argues the order should be reversed. “Until your story’s locked in, it’s hard to unlock everything else,” he says. “The deck is just the packaging of your story.”
A good deck answers three questions quickly:
- Why this market, and why now?
- Why you — what’s your unique edge?
- Why this team will win?
Clarity beats complexity every time. “Most investor meetings aren’t presentations,” Jorian notes. “They’re conversations. The story needs to live in your head, not just your slides.”
For founders building in technical or complex industries, he recommends adding a short memo alongside the deck — a place for investors to explore details. “You can’t fit everything into twelve slides,” he says. “The memo gives investors a way to dig deeper on their own time.”
3. Get Organized: Data Room, Docs, and Digital Presence
Before launching your raise, organize your materials and make sure every touchpoint tells a consistent story. Jorian often sees founders underestimate how much a clean data room helps. (P.S.one pro tip — use Foundersuite’s Data Room). “It doesn’t need to be fancy,” he says, “but it should be easy to navigate.”
He suggests a simple structure with 10–11 folders, such as:
- Corporate formation and legal documents
- Pitch materials
- Financials
- Product demo or roadmap
- Market and competition research
- Customer data
- Team bios and advisors
“Even if you’ve got a lot of files, label them clearly,” Jorian says. “Investors appreciate a thoughtful setup.”
He also reminds founders to tidy up their online footprint. “Investors will Google you,” he notes. “Your LinkedIn and website don’t need to be perfect, but they should align with your story.”
Finally, he advises creating a short core blurb — 100–150 words that summarize your company and round. “You’ll send it hundreds of times,” he laughs. “Having a tight blurb keeps your story consistent and saves time.”
4. Anticipate Questions Before They Come
Founders spend weeks polishing their deck but rarely prepare for investor Q&A. “Most meetings are 90% questions,” Jorian points out, “and how you handle them builds or breaks credibility.”
His advice: build what he calls a “thorny Q&A list.” Go slide by slide and jot down:
- What question do I not want to get?
- What’s likely to come up here?
- How can I answer clearly and confidently?
He encourages founders to create a list of 20–30 of these tough questions and practice their answers out loud. “You don’t want to sound scripted,” he says, “but you do want to avoid getting caught flat-footed.”
This exercise sharpens your story and boosts confidence before you walk into investor meetings.
5. Run a Tight, Momentum-Driven Process
Momentum is what turns polite interest into term sheets. Jorian advises founders to treat their raise like a campaign, not an open-ended journey. “You want your fundraise to feel like a moving train that investors need to jump on,” he says.
Instead of spreading meetings over months, compress them into a focused two-week period. “Pick a short window and schedule as many first meetings as you can — ideally 30 or 40,” he says.
Start with Tier 2 investors to practice, then move to Tier 1 once your pitch feels sharp. “Get a few reps in before the big ones,” he adds. “You’ll be more confident when it matters.”
To maintain momentum:
- Follow up every 7–10 days.
- Share short updates — new customers, hires, or milestones.
- Keep communication warm but brief.
“Momentum dies in silence,” Jorian says. “Even a two-line update keeps you top of mind.”
6. Track Everything and Follow Up
Many founders let conversations slip because they don’t track them properly. “They forget who they’ve talked to or what stage a conversation is in,” Jorian says. “That’s how opportunities get lost.”
He recommends using a CRM or even a spreadsheet to log every investor, meeting, and next step. “A simple system beats no system,” he says. Tools like Foundersuite, which pioneered the concept of an Investor CRM, can help.
After each meeting, send a short follow-up email. Thank the investor for their time, share one relevant update, and clarify next steps. “Investors are busy,” Jorian explains. “A friendly, well-timed nudge can reopen a conversation.”
Consistent follow-up shows organization and persistence — two qualities investors value.
7. Don’t Forget the Human Side
Fundraising can be draining, but Jorian urges founders not to lose sight of the human side. “You’re meeting fascinating people,” he says. “Investors, founders, potential partners — some conversations lead to funding, others lead to friendships.”
He also recommends meeting potential lead investors in person whenever possible. “If someone might lead your round, go see them,” he says. “You’re entering a long-term relationship — it’s worth building it face-to-face.”
And most importantly, he reminds founders to keep perspective. “Fundraising can feel all-consuming,” he says, “but it’s one chapter in a much bigger story. Keep building, keep moving forward.”
Final Tip
Jorian sums up his philosophy simply: “You’re not just raising money — you’re running a process that helps the right people say yes.”
Preparation, structure, and follow-through matter far more than charm or luck. Start early, stay organized, and remember — fundraising isn’t about convincing everyone. It’s about finding your believers.
