As a BIPOC female founder who did not have previous experience working at tech giants like Google or PayPal, the traditional warm introduction process in venture capital circles was not accessible. In search of a faster and more effective method to secure VC meetings, organic press coverage, and customer connections, a new approach to inbound lead generation was adopted. This process involves building without waiting for VC funding, leveraging organic PR to get noticed, becoming a thought leader in the industry, and building in public.
The first step in the inbound lead generation process is building your product without waiting for validation or funding from VCs. Taking inspiration from successful bootstrapped startups like Shopify, who built a profitable niche with organic growth before receiving any significant investment, focusing on product development and creative launch strategies is crucial. By prioritizing building and launching your product creatively while keeping marketing spend at a minimum, you can establish proof points and attract customers organically.
In the next step, making potential investors hear about you through organic PR involves researching competitors, identifying relevant publications, and reaching out to writers and editors with personalized cold emails. Providing value in your pitch by explaining why the publication may be interested in your company, sharing links to your website and demo, and creating a press kit can generate interest from journalists. By showcasing a differentiated product that has already launched, you increase your chances of securing media coverage without spending money on PR agencies.
Becoming a thought leader in the industry is essential for attracting interest from VCs and potential customers. By writing insightful articles and submitting them to leading industry publications, as well as securing speaking engagements at relevant conferences, you can establish yourself as an authority in your field. Contrarian articles that offer original insights and thoughtful analysis supported by research are more likely to grab attention and demonstrate your ability to think smartly and differently, attracting interest from investors, press, and other industry stakeholders.
Building in public involves sharing the journey of building your company’s products or services with the goal of engaging with like-minded individuals and attracting investors. By publicly sharing your progress, lessons learned, and steps taken along the way, you can generate buzz around your company and build engagement within the community. Publishing a manifesto that outlines your company’s goals and vision can also help showcase your strengths and attract interest from investors and other stakeholders looking for innovative founders.
In conclusion, for underdog founders who may not have access to established networks for warm introductions, leveraging their strengths and personalizing their launch and fundraising strategies is crucial. By focusing on building and launching their products creatively, securing organic press coverage, becoming thought leaders in their industry, and sharing their journey publicly, innovative founders can attract interest from press, investors, and customers alike. By showcasing their abilities and unique vision, underdog founders can navigate the fundraising process on their own terms and secure valuable connections in the venture capital world.
