As the Christmas holiday break rapidly approaches we are still receiving plenty of applications for funding from startup founders eager to close before the New Year. It is going to be a challenge to close these rounds in time due to investor availability. However, it is a great time to prepare for a quick start in January.
The period between January and April will be a frenzy for funding, because many high net worth individuals aka. angels are looking to invest to take advantage of the EIS/SEIS tax breaks. So we suggest using this quieter period to get ready:
1 Nurture your contacts – Christmas is a good time to get your startup out there. Spread the word at xmas parties and events. Be sure to network with the right people. Send a nice Xmas card to your existing or a lead investors, either online or by post. Share your updates and plans for next year with potential investors.
2 Don’t lose momentum – This is the perfect time for social media. Your tweets will still be noticed during the quiet holiday days. Think what could be fun and interesting, and try to keep it relevant to help your network notice your startup
3 Prepare – Use this time to fix any software bugs and clean up the UX. Brush up investment materials and maintain updates and progress on the market. Refine your strategies and prepare lists of investors and identify new contacts who could help you with investment.
4 Organise for next year – Plan for quick start. Brainstorm ideas and prepare for your funding campaign; plan and organise any events early and send out the invites. Find pitching events to attend and get your applications in.
5 Last, but not least – Go on holiday or at least, take a well earned break! As a quiet period it is a good time to recharge your batteries and and spend quality time with your loved ones. Next year will be manic, so you will need a lot of energy.
We wish all our startup friends and investors a great Christmas and look forward to a vibrant and bubble-free New Year!
Blog by Marina Atarova, Co-Founder of Dreamstake the world’s first tech startup platform that allows entrepreneurs and investors to monitor startup progress and inject capital and support when most needed. Startup founders can create profiles on the platform and get direct introductions to investors.