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!
@maxnuss congrats and thanks for your book!
Is there any chance to get EPUB and MOBI for Kindle?
@gogola we’ve gotten a fair amount of requests for this, so yes! We’ll be working on this next!
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.
@aaron_cohn Thanks so much Aaron!
We also go into detail about how to create a sense of urgency for investors – something that is crucial to running an efficient fundraise that a lot of founders have trouble with. In writing the book, it was really great to compare our own experiences with the dozens of founders and investors in order to solidify actionable advice on creating urgency.
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.
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.
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.
@maxnuss @nazlidanis Thanks so much!
This looks like an interesting read!
Will there be an ebook format in the future so people can read it on their e-readers?
@curiousigor yup! We’ll be working on that next!
Downloaded! Will let you know when I've read it :)
@latifbaluch1 sounds good!
Thanks for creating and sharing this gem.
My last read on this topic was a collection of articles by Naval Ravikant called the Venture Hacks. Excited to read this one too. :)
Dana Jeanne Marie
Our team found this book to be helpful and comprehensive. I was particularly delighted to see a section on raising investment through the use of convertible notes, which we are currently in the process of doing. The roster of seed stage investors set us on a track we feel confident about, and we were inspired to call up a decade-old VC contact out of the blue, and have a meeting next week! Thanks for the thorough work.
@danabrain This is great to hear that you've already found it actionable! Thanks so much for taking the time to share this :)