“I actually did vote for the $87 billion, before I voted against it.” John Kerry
Fund raising can take some time. Several months can go by while you are closing a round.
Once investors have committed to you, it is critical that you don’t change your pitch. Or your strategy. Or your senior team. Or where you are located. Or anything else that is important to your business. Really anything at all.
Anything that you change has the potential to make people incredibly nervous. They might change their mind. Your consortium might fall apart. Really, you can only make matters worse. Not better.
What investors want to hear during the closing process is GOOD NEWS. More sales. More effective marketing. That new awesome person who has just joined. You know. Stuff like that. Not bad news. Missed sales targets. Fired employees. Delayed product updates.
If you really want to change things significantly, wait until you have the money in the bank. Close the deal, then you can change stuff. Keep in mind that you don’t want to breach your warranties…some things you will have to disclose. But overall, don’t change your pitch. Not a good idea.