If you’re looking to speed up your startup’s funding process A data room can serve as a powerful tool. It can contain confidential information about your business, like revenue projections and IP ownership documents. It can also include complete financial records. All of this information will assist investors in conducting due diligence and analyze your business, as well making informed investment decisions.
As a founder, you should always keep in mind your goal of making the life of investors as easy as you can. The longer investors spend looking for the information they require more likely they will give you the Term Sheet. This means making the data room user-friendly (which you can do by using many tools, including DocSend’s Chrome plug-in) and keeping it simple.
To make your data room simple for your customers to navigate, structure your folders clearly with an indexing system that makes it easy for buyers to navigate through the content. Additionally, you should share conventional analysis rather than atypical ones. Analyses that are not standard can confuse your customers and lead to confusion when trying to understand the data.
Include a complete manual and training sessions in your data room to ease the burden for your counterparties. These training materials can help users understand how to navigate and access your data more efficiently, decreasing the risk of data being mishandled or misinterpreted.
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