What’s the best process for Series A fundraising?

This two-phase approach works for many founders

Phase 1. A few weeks or a month before the roadshow, qualify interest in stage and category only. "We’re working on ___ for ____ to do ____. If this interests you, we'd love to share our progress when we fundraise later this year". That's enough. Don't share progress yet. Don't pitch yet. Don't brag yet. Just get 30 people to confirm interest in your stage and category. How many should you reach out to?  Most successful companies need to research 100+ investors, and reach out to 60+, in order to get 30 to confirm interest.

Phase 2. As your kickoff date approaches, reach back out to share progress and confirm interest in meeting. Share just a a couple of your best numbers.  If they're not biting then just stop, because it means your numbers aren't good enough yet.  Schedule all first meetings in a compressed 1-2 week period based on limited information. This should be 15+ meetings. Do all follow-ups the next week with slightly more information. This should be with several potential lead investors only. Your goal is to get 2-3 term sheets.