Oversubscribed

A free founder’s guide to seed fundraising 📚

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#5 Product of the DaySeptember 05, 2018

Oversubscribed: A Founder’s Guide to Seed Fundraising is a free, 97-page ebook with everything you need to know about early-stage fundraising. It's the book we wish we'd had when we were first raising money for our startups.

Reviews

  • 65228
    Mike TarulloCOO, Banza
    Pros: 

    A clear, one-stop shop for those considering raising seed money

    Cons: 

    Most applicable to the broader tech sector (eg less for cpg, biotech), but can be referenced for all industries.

    Instead of trying to aggregate 15 blog posts and add my own layer of color, it's way easier to direct people here. There's clear, actionable insight and no bs. You don't need to be independently wealthy or fantastically connected to raise seed $.

    Mike Tarullo has used this product for one week.
  • 11501
    Taylor DavidsonFounder, Foresight
    Pros: 

    Practical, accessible, grounded by founder experiences.

    Cons: 

    Targeted to tech businesses raising early-stage rounds

    Max and Mike offer a practical, accessible take on raising money learned from their own experiences in building their businesses. They are straightforward about their businesses, their goals, what they learned, and how it can apply to your own business. Everyone's advice is tempered by their own experiences, and rather than run from that, Max and Mike are upfront about what their businesses, their goals, their pitch decks, and their experiences, so you can judge how their advice fits with your own goals. I got to see the early stages of their businesses up close - and they reference my materials on financials - so I'm not an impartial observer, but that's enabled me to see how they processed their experiences, and I enjoyed reading their take on topic that's been covered widely, but rarely deeply. Instead of getting lost in the abundant advice available on the web about how to raise money, start with this.

    Taylor Davidson has used this product for one week.

Discussion

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35484
Max NussenbaumMaker@maxnuss · writer, designer, ex-founder
Hey PH, Oversubscribed is the book we wish we’d had when we were first raising money for our startups. It starts with the basics—should you even raise money at all?—and goes on to cover preparing your narrative, finding and engaging investors, and actually getting money in the bank. After raising a combined $4M for our seed rounds, Mike and I found ourselves answering the same questions for other founders over and over. While there are some good fundraising resources out there already (we link to many in the book), we realized that there wasn’t a good source for the kind of guidance we’d needed when we were first raising our companies’ rounds. For example, there are lots of great blog posts about setting terms and negotiating with investors. But when we were twenty-somethings outside of Silicon Valley with limited experience and connections, we needed help just figuring out how to even get in touch with angel investors in the first place. Oversubscribed is free through September. We’d love to hear what you think, and we’re here to answer questions about the book, our stories, fundraising in general, or anything else you’d like to ask!
20713
Ivo Dimitrov@gogola · Product Director at Modulbank
@maxnuss congrats and thanks for your book! Is there any chance to get EPUB and MOBI for Kindle?
4756
Mike WilnerMaker@mwil20 · former founder, current startup helper
@gogola we’ve gotten a fair amount of requests for this, so yes! We’ll be working on this next!
523896
Aaron Cohn@aaron_cohn · Partner, Quiet Ventures
Skimmed through -- love that it's by founders, for founders. That's rare actually, since most fundraising advice is given by VCs (which is fully backwards). The specific founder anecdotes were terrific.
4756
Mike WilnerMaker@mwil20 · former founder, current startup helper
@aaron_cohn Thanks so much Aaron!
682751
Mike Mayer@mike_mayer
I'm a first time founder working on several projects at the moment. I am realizing that if I ever want to give my ideas a shot, I need to raise money. I held out for a few months... but alas raising money is a necessity unless you're loaded or have friends/family willing to pay your rent, living costs, and initial business expenses for a while. I've never done this before and am not connected in the Silicon Valley scene. So, what do I do? This book is for people like me. It's approachable, filled with real advice from real founders, and easily digestible.
150991
Matt Fulton@mattwfulton
Having had the opportunity to read an early-access copy, I really wish we had a resource like this, the first time we raised funding. Trying to parse dozens of disparate blog posts and overly general advice as first time founders resulted in more mistakes than I care to count, and though we successfully raised funding, it took too long and left us needing to raise the next round too soon afterwards, rather than focusing on our business. Most resources give general advice like "create urgency" (how?), "set deadlines" (around...what?), etc, but that's not enough. Oversubscribed gives both the why and the how, so you have the exact tactics to execute your fundraise quickly, and the deep understanding to know what to do when the unexpected happens. If you are a first-time founder, or someone thinking about starting a venture-backed company, this is a must-read.
26839
Nazlı Danış@nazlidanis · cofounder at emile
Congrats @maxnuss + @mwil20! We've turned to Mike + Max countless times for startup wisdom, since they were also founders who were in our shoes not too long ago. They have consistently given us gold advice and helped us develop mental models for various high-level issues you should be thinking about as a founder from Day 1. Really looking forward to learning what they have to say about fundraising in more detail.
4756
Mike WilnerMaker@mwil20 · former founder, current startup helper
@maxnuss @nazlidanis Thanks so much!