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Last check in. Building the FOMO.
Whether you are raising a fund, fundraising for your startup, or pitching another type of opportunity, everyone always likes to be the last check in. FOMO and scarcity is what sells. Everyone wants to see what others are doing. Who else is involved? Once the momentum picks up, the excitment builds until people start getting upset if they didn’t get in.
Fundraising in general is tough. Good economy or bad, there is always something that can throw a fundraising effort off course. Persistence is key, but more importantly, you have to create a reason for people to move fast.
I have seen this a lot lately, and when things are about to close or are on their final days, it always seems like demand hits its highest level.
Fall is the time that founders are out trying to get fundraises done. It’s the sprint before the holidays. Get everyone in, review the data rooms, and hope to close it all out before Thanksgiving and if necessary before the December holidays. The time between holidays and New Years is quiet and its always busy when the new year starts. So for those fundraising now, good luck!
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