How to Raise an FFA Round

in 10 Steps Using Fundable.com


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Private Fundraise

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Introduction: How to Use Fundable to Raise an FFA Round for Your Startup

In 10 Easy Steps!

"FFA" stands for Friends, Family, and Associates. This guide will show you how to set up and validate an FFA funding campaign for your startup.

This service is part of your $199 Startups.com advisory membership.

Step 1: Finish your pitch deck with these slides (at least):

  • Problem
  • Solution
  • Market Size
  • How it Works
  • Business Model
  • Go-to-Market
  • Competition
  • Team
  • Traction
  • Ask

We will advise you if you need any other slides.

You will also complete your company details, such as how much you seek to raise and how. Again, we will help you with all of this.

Important: Don't design your pitch deck until it's been validated.

Start with simple black-and-white text (like what you see here). You will get feedback, and then when you're ready, you can invest in some design. This is the simplest and fastest way to ensure you have the best pitch deck.

Here is an example of a problem slide:

Problem: Workers toggle between various tools and services 1,200 times daily, increasing the mental energy, time, and cost required to complete tasks by up to 40%*

*American Psychological Association (APA)

Here is what it might look like after design:

Option: You may want to test your idea validation deck first (elevator pitch) that has these slides:

  • Problem
  • Solution
  • Market Size
  • How it Works (Competitive Advantage)
  • Team

Step 2: Build your “FFA-ABC” list of:

  • Friends
  • Family
  • Associates

Then rank them by:

  • A: Close Personal Contacts
  • B: Professional Contacts
  • C: Contacts that you’re A/B’s refer.

BUILD A CRM! (A simple spreadsheet will do.)

Don’t contact VC investors yet. You will later.

Step 3: Contact you’re A-list.

  • Send the link to your Fundable.
  • Ask them to give you feedback on your campaign.
  • Don’t ask them to invest (they will assume they can).
  • Ask who else you think you should speak with.
  • Ask them to introduce you if they can.
  • Referrals go into the C-list.
  • Ask to keep them updated.

Keep refining your pitch until it's perfect—you’ll know when. This is when you should start adding design and graphics to your pitch deck.

Step 4: Draft an outreach email or DM to the B-list that is SHORT with:

  • Compelling subject line.
  • Reason for the contact.
  • Your UVP in one sentence.
  • Team sentence.
  • Traction sentence.
  • Ask sentence.
  • Link to your Fundable listing.

We will help you with this!

Step 5: Work your B-list now that your campaign is validated.

  • Contact them.
  • Follow up.
  • Ask for feedback.
  • Ask to keep them updated.
  • Do NOT ask for referrals (they will offer).

Step 6: Now, move to your C-list.

  • Contact them.
  • Follow up.
  • Ask for feedback.
  • Ask to keep them updated.
  • Do NOT ask for referrals (they will offer).

Should you use your Fundable link? That depends on the contact and type of investor. You may want to upload your deck and send out a link to it.

Step 7: When you’re ready, use our investor directory.

Use the proper search filters.

Do NOT send out Fundable links—upload your pitch deck and send that link instead. Institutional investors like VCs prefer decks directly.

Step 8: Get your data room ready.

Everything an investor will need to see during due diligence, including but not limited to:

  • Executive Summary
  • Pitch Deck
  • Business Plan
  • Financial Statements
  • Cap Table
  • Product Documentation
  • Market Research
  • Legal Documents
  • Team Bios
  • Customer & Sales Data
  • NDAs are usually signed first.

You can include some of this on your listing page. We'll work with you on what and how to do this.

Step 9: Keep working on TRACTION!

  • Use inflection points to update potential investors.
  • Update your campaign listing with news.
  • The more traction, the easier the raise!

Get into an accountability program with us! We will coach you.

Step 10: Manage your time and your expectations.

  • 50% of your time working on traction.
  • 25% talking to customers.
  • 25% talking to investors.
  • Update your listing with news.
  • Send regular updates to your list.

Some legal stuff you should be aware of:

  • Because of securities regulations, some of your slides, like financials and the ask, will have to go into the "Business Plan" section.
  • Make sure you're filing the proper exemptions when you raise capital. Learn more about Regulation D (Reg D) Fundraising here >
  • You must file Form D within 15 days after the first sale of securities, even if you use a SAFE. Even though a SAFE doesn’t immediately provide equity, it's still classified as a security, and the regulatory requirements apply.
  • We are not lawyers and cannot provide financial or legal advice, but we can refer you if needed.

Ready to get started? Grab your Fundable.com code.

Click here to get your code >

If you need more help than the DIY package, we have a DWY (Do it With You) membership available. Ask your dedicated Startups.com advisor.

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Fundable is a software as a service funding platform. Fundable is not a registered broker-dealer and does not offer investment advice or advise on the raising of capital through securities offerings. Fundable does not recommend or otherwise suggest that any investor make an investment in a particular company, or that any company offer securities to a particular investor. Fundable takes no part in the negotiation or execution of transactions for the purchase or sale of securities, and at no time has possession of funds or securities. No securities transactions are executed or negotiated on or through the Fundable platform. Fundable receives no compensation in connection with the purchase or sale of securities.