ITR #011: Why You Should Treat Fundraising like a "Project"

Welcome to the latest edition of “Into the Ring” - my biweekly newsletter on how to successfully plan & execute on your startup fundraise. As a reminder, I’m Jorian Hoover and I’m a Startup Fundraising Sparring Partner. I guide Pre-Seed thru Series A founders through their fundraising process, and you can check out how to work with me here.

The last few weeks have been incredibly exciting. I got the chance to lead two webinars with partners, each with 100+ founders attending. The first one was for SeedLegals (they’ve productized the priced round, and recently expanded from the UK to the US), where I had an awesome conversation with their CEO, Anthony Rose, on how European founders should think about fundraising from the US. And the second one was for Beta University (an awesome pre-accelerator based in the Bay Area), where I led a workshop on top principles for running a great fundraise.

And there’s more on tap, too. I have two workshops I’m leading with the Harvard community in the coming months, and I’m giving my classic presentation on fundraising principles to Massachusetts Innovation Network. I’ve also had the pleasure of starting work with five new founders in the past month, and am grateful for the opportunity to serve them.

Without further ado, now on to today’s newsletter topic: why you should treat your fundraise like a project.

Treat Your Fundraise Like a Project

I had an “aha” moment recently while speaking with a founder who’s gearing up to raise capital.

We were walking through my fundraising prep process—the one I recommend founders follow over 2 to 3 months before they speak with investors. I explained that I suggest founders carve out this time to intentionally prepare for the raise, not just jump in. That includes:

• Defining the fundraise contours: How much you want to raise, your target valuation range, what instrument you’re raising on, and getting your legal docs in order.

• Nailing your story: Identifying your 3–5 fundraising “vertebrae,” getting clear on your achilles heel, and figuring out how to frame both.

• Building strong materials: A compelling and clean pitch deck, a financial model, appendix slides, data room, intro blurbs—the works.

• Practicing for live meetings: Developing a crisp, confident pitch, preparing for thorny Q&A, and running a few “sneak peek” conversations.

• Building a robust investor list: Researching 125+ potential investors, tiering them, finding warm intro paths, and setting up your network.

All of this work, I explained, leads to a tight, well-run fundraising sprint—ideally a 1-2 week period where you meet with dozens of investors, build momentum, and create leverage.

That’s when the founder said something that stopped me in my tracks: “Oh… so you see fundraising like a project.”

Yes. Exactly.

That moment clarified something I’ve felt for a long time: the best fundraises happen when they’re treated like defined, time-boxed projects.

Too often, I see the opposite. Fundraising becomes something founders “kind of” do—like they’re always kind of fundraising, just like they’re always doing product or always doing marketing. It turns into this background process, which drags on and drains energy. That approach makes things harder, not easier.

Here’s why treating your fundraise like a project is so powerful:

1. You Avoid Overlooking Critical Prep Work

When fundraising is approached haphazardly, it’s easy to skip or forget something important. I’ve spoken with founders about to kick off investor conversations only to realize they’re missing backup investors, their data room isn’t ready, or their pitch hasn’t been pressure-tested. These aren’t minor details—they’re things that can stall momentum or cost you the round.

2. You Prevent Your Fundraise from Dragging On

When you don’t treat it like a project, fundraising can stretch out endlessly. While I genuinely enjoy helping founders navigate fundraising, I don’t wish a drawn-out raise on anyone. A prolonged process consumes mental bandwidth and can become a massive distraction. By treating fundraising as a project, you can define your inputs, set a timeline, and move with intention—even if the outcomes (like who invests) aren’t fully in your control.

3. You Present as a Clear, Organized Leader

Investors are pattern-matchers. If your fundraising process feels disorganized, they assume you might run your company the same way. That’s not the impression you want to give. When you show up with a tight deck, a well-articulated story, and a clear plan, you send a subtle but powerful message: “This founder knows how to lead.”

If you’re planning a raise, I strongly encourage you to give yourself 2–3 months to prepare, and treat that prep period like a project. Use the categories I listed above (or build your own), create a timeline, and hold yourself accountable. Ask trusted founder friends or advisors to gut-check your prep list and make sure you’re not missing anything.

And if you're wondering, “What if I miss my timeline—does that screw things up?” Here’s the beauty of it: No one needs to know. Whether your prep takes one month, two months, or four, it doesn’t matter. Life happens. Everyone’s running a business. The point is that you’re being intentional.

Some of my favorite conversations are with founders who are looking ahead—six or even twelve months out—and starting to prepare well in advance. These founders have time to improve their business, refine their story, and build a network that will pay dividends during the raise.

So if you’re getting ready to fundraise—or even just starting to think about it—remember this: treat it like a defined project.

It’ll help you fundraise in a way you’re proud of—and more importantly, it’ll help you get back to what matters most: building the business.

👉Want a sparring partner to help you define your fundraising plan? I would love to help.

Thanks for stepping Into the Ring 🙏

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👉 I’ve helped 30+ founders raise over $130M. Curious to work with me? You can learn more about what that looks like on my website.

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