From time to time I get impressed by a startup and how they work during fundraising.
Fundraising is a process and anything the start-up can do that helps the VC move faster – both parties will greatly benefit.
First off – when a startup has a great data room things always go smoother.
Usually startups are using google drive or box or dropbox.
One nice hack we saw recently was using a google sheet to build the index to the data room with comments and links to the specific docs in the drive. Pure gold. Made it so much easier to work.
Another one that I am loving is the constantly evolving FAQ. The startup has taken all the questions they have been asked and put the question and answers in the doc. As we have been working on the deal they have added our questions with answers and we have seen new ones added as we go. Super helpful.
I know none of this is rocket science but sure makes it easier to get shit done.