The Path to Series B Funding

You’ve achieved Series A funding, and the excitement of that seems like a distant memory as you grind through the relational and document gymnastics in your pursuit of closing Series B. Your team is stressed and everyone is trying to hold it together as they wait for the additional funding that will allow them to staff to the growth of the company.

It’s easy during periods of high growth, high transition, and high-stress, for teams to lose cohesion, yet staying in alignment is exactly what will help you maximize those additional funds when they arrive.

3 Suggestions to Maintain Unity as You Close the Series B Round

1. Overcommunicate…about everything. When we are stressed out and moving fast, we often forget to pass on information. In start-ups, the intended recipient is also stressed out and more likely to take the lapse personally. Overcommunication diminishes the potential for misunderstandings and misalignments. Thus, your energy can be directed toward closing the round rather than being frustrated with each other.

2. Embrace the Debate. If there are multiple founders, allow diverse opinions to be your safety net. High achievers usually have high competence and strong opinions….and this is good, except that you will also likely argue with each other about the best decisions in high stakes situations, such as Series B funding. It can be tempting to pursue consensus to speed up the process, but right now, your differences of opinion will help you assess decision-making about the investors, size of the round, and other elements that will affect your company.

3. Maintain Perspective. Remind the team that stress is the result of success. Growth creates stress. You are only pursuing Series B because you have the data to substantiate further investment. When you remind each other of how far you’ve come, it’s easier to maintain a dynamic of “us against the problem” rather than turning on each other.