Mercer Advisors - TFP - 7/31

Your Startup’s Growing Fast. Is Your Financial Plan Keeping Up?

Cap tables, burn rate, maybe an exit on the horizon… you’ve got enough on your plate. Mercer Advisors helps founders like you stay ahead of the financial curve.

Think of them as your financial OS: a nationwide team of financial planners, tax professionals, investment specialists, and estate strategists, led by an advisor who gets startup life.

For 40 years they’ve helped founders simplify complexity and build lasting wealth through advising on:

• Equity comp & stock options

• Liquidity event & tax planning

• Asset protection & estate strategy

• Business + personal financial alignment

Whether you’re pre-seed or post-Series C, Mercer Advisors tailors strategies to your stage and your goals.

Book a call with us to learn more.

Mercer Global Advisors, Inc. (“Mercer Advisors”) is a SEC registered investment adviser. The firm only transacts business in States where they are properly registered or excluded or exempted from registration requirements. Mercer Advisors is not a law firm and does not provide legal advice to clients.

*This is sponsored. Mercer Advisors is not affiliated with Hustle Fund. Mercer Advisors does not promote or offer investment in the Hustle Funds or any of Hustle Fund’s underlying portfolio companies or other start up opportunities introduced through Hustle Fund.

📆 Toronto, you’re up! 

Not gonna lie… our team loves Canada. We hosted a founder event in Montreal a couple of weeks ago, and it was insanely fun.

Next up: Toronto! We’re bringing Batter Up (a pitch event) to one of our favorite startup hubs in the world.

Happening August 22, this event will feature a handful of founders pitching a panel of investors in exchange for real-time feedback. Think Shark Tank, but nicer.

Click here to RSVP, and/or submit your deck (optional)

Wanna be part of the team producing this event? Fill out this form.

📰 Today's Edition: What to do when a VC leaves you hanging.

Waiting for a response from someone you’re dying to hear from is excruciating.

This is true for first dates that (you think) went well. It’s true for job or college applications. And it’s especially true for VCs who have been "reviewing" your deck for three weeks.

At some point, you start to wonder if they've forgotten you exist.

The good news is that VCs aren't trying to torture you (well, most of them). But they're not known for giving quick, clear answers.

So let's talk about how to nudge a VC toward a decision without coming across as pushy. Or worse – desperate.

Why VCs Take Forever

Each VC has their own process.

Some funds have partner meetings, investment committees, and approval chains. Even if one partner loves you, they might need to convince three others who've never met you that you deserve an investment.

Another reason: FOMO.

VCs worry a LOT about passing on a future unicorn. So they keep you warm just in case, even if they're not that excited.

Also: social proof. VCs often want to see who else is interested before they commit. If other investors are circling, suddenly you become more attractive.

The result is that founders often get stuck in fundraising purgatory while VCs "think about it."

Are You Being Strung Along?

Let’s talk about how to tell if you're genuinely in their process or getting jerked around.

👍 Good signs:

• They ask specific follow-up questions

• They want to meet your team or customers

• They mention timelines or next steps

• They respond within a reasonable time (1-3 days)

👎 Bad signs:

• Generic responses that could apply to anyone

• Weeks of silence followed by "still reviewing"

• Avoiding direct questions about process

• Asking for more information without moving forward

If you're seeing red flags, it's time to (politely) push for clarity.

The Art of Gentle Nudging

Here's how to create urgency without being aggressive:

1. Frame Your Timeline

Instead of asking "What's your timeline?", share yours:

"We're aiming to close our round in the next two weeks. Would that work with your process?"

This gives them a clear deadline while sounding collaborative, not demanding.

2. Create Soft Urgency

You don't need to threaten or give ultimatums. Try this:

"We'd love to know if you see a path forward so we can plan accordingly."

"As we move toward closing, it would be helpful to understand where we stand."

3. Ask About Next Steps

Be direct but not confrontational:

"What are the next steps on your end?"

"What would you need to see to move forward?"

4. Use External Pressure

If you have it, mention other interested parties:

"We're getting interest from a few other funds. We'd love to keep you in the loop on timing."

Big fat piece of advice, though: Don't lie about this. VCs talk to each other more than you think.

These Tactics Will Probably Backfire:

Being too passive.

If you never follow up, they'll assume you're not serious or have other options.

Being too aggressive.

"We need an answer by Friday or we're walking" rarely works unless you've already got multiple term sheets.

Taking it personally.

A slow response usually isn't about you. They're just managing their own process. Having an aggressively emotional response to the delay will raise questions about your ability to lead a team.

Burning bridges.

Even if they pass, you want them to remember you positively. Relationships often come back to haunt us, in good ways and in bad ways. So stay respectful.

A Founder's Experience

One of our portfolio companies was in talks with a well-known VC who kept saying they were "very interested" but needed more time. After six weeks of back-and-forth, the founder sent this message:

"Hi [Partner], I really appreciate the time you've spent on our deal. We're planning to close next week with our current investors. If there's still interest on your end, it would be great to know by Thursday so we can include you. If not, no worries at all – we'd love to keep you posted on our progress."

The VC responded within hours with a clear "no". Then (plot twist) actually referred them to another fund that ended up leading the round.

Sometimes the best outcome is just getting clarity.

What We Tell Our Portfolio Founders

At Hustle Fund, we tell our founders to follow the "2-week rule": if you haven't heard back in two weeks, it's fair game to follow up.

And if you're not getting clear answers after multiple follow-ups, it's time to move on.

We also remind them that fundraising is a numbers game. For every VC that strings you along, there's another one who will give you a quick yes or no.

Your job is to find those VCs and spend your energy there.

Just keep nudging,

Audrey from Hustle Fund

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