A lot has changed in our journey to raise a seed round:
We have a few investors who wired money
We have a bunch of interested investors that may or may not wire money
And, boy, oy boy, I kissed too many frogs in search of our prince or princess (not literally, so don't be worried)
And, I've learned a few things about kissing frogs. I write these rules of frog-kissing mostly for myself because I still have more to do, and I'm really tired of kissing. So, I'm putting some boundaries around the process to make it easier:
Since I'm not a famous founder (aka second-time founder or those with a pedigree in startup land), I still need to kiss more frogs. Honestly, I thought I would close the round by now, but the reality is that we have some money. We may or may not get more, so I need to keep bringing more frogs to the mix. Accept that you have no choice.
Stop poking the uninterested frogs. I have this bad/good habit that I don't give up. When it comes to frogs that don't answer, just let them go. If they liked you on the first email/meeting, they would call you.
Give frogs the benefits of the doubt, but not too much:
One email, if it turned into a meeting, great!
Reminder meeting in 24 hours, if no answer, not interested.
After the first email, one follow-up.
And one update with a major milestone update. Suppose it turned out into a meeting, great.
And be done.
Kiss more frogs.
What other things can you do to get frogs lining up? Some of my founder friends tell me to create an event to get people talking about your company. This is definitely a good point. It changes the context of the frog kissing competition for you. I started the rules by saying, "since I'm not a famous founder ...". You can change that context. Some of my founder friends say this can be changed quickly by creating an event or a post that gets people talking about you. For me, this didn't work. But, if you can change the context and turn you or your company into a hot thing, make it happen.