How to Prepare for a Reg CF Campaign
The work that happens before launch is what decides most raises. Here’s how to get ready.
Short answer
The best-prepared Reg CF campaigns start before launch. Build an audience you can activate, get your pitch, raise page, financials, and Form C ready, set clear terms, line up your transfer agent and cap table, and plan a launch that creates early momentum. Companies that raise successfully almost always bring their own crowd.
Build your audience first
The single biggest predictor of a successful raise is an audience you can activate on day one: customers, an email list, a social following, a waitlist. Most raises that hit their target open strong because the founders brought their own crowd. If you don’t have one yet, start building it before you launch, not after.
Get your materials ready
Prepare your materials before you go live: a clear pitch and story, a short video, a raise page that presents the opportunity well, your financial statements, and your Form C. Investors decide quickly, so the first impression matters.
Set your terms
Line up your back office
Set up the parts that run behind the scenes: an SEC-registered transfer agent (a condition of the 12(g) exemption once you have many investors), your cap table, and whether you’ll use an SPV. Handling these early keeps closing smooth. On Highlander, they’re built into the raise.
Plan your launch
You can gauge interest before filing by testing the waters, build a pre-launch list, and open with enough committed interest to create early momentum, which tends to attract more investors. A raise that looks active draws a crowd; one that looks empty struggles.
Give yourself time
Preparation, filing, and the live campaign typically span a couple of months or more. Rushing the prep is the most common avoidable mistake.
Frequently asked questions
How long does a Reg CF campaign take to prepare?
Usually a couple of months or more across prep, filing, and the live campaign. Rushing prep is the most common mistake.
What do I need before I launch?
An activatable audience, a clear pitch and video, a strong raise page, financial statements, your Form C, and clear terms.
How important is my existing audience?
It’s the biggest predictor of success. Most raises that hit target open strong because founders brought their own crowd.
Can I gauge interest before filing?
Yes, by testing the waters, which lets you measure demand before you formally file.
Do I need a transfer agent set up before I launch?
Not necessarily. Whether you need one depends on how many investors you expect: once your holder count passes the thresholds, an SEC-registered transfer agent is one of the conditions of the 12(g) exemption. Either way, having one in place makes managing your cap table and investor records considerably easier, so it is worth deciding before launch.
Key takeaways
Bring your own crowd; it’s the top success factor.
Prep materials, terms, and your Form C before launch.
Set clear, reasonable terms.
Line up the transfer agent and cap table early.
Open with momentum, and allow a couple of months.
Keep reading
You've finished Founder's Guide to Raising. Next: Product guides
- 01Building Your Raise Page With the Page Builder
- 02Custom Raise Pages: Bring Your Own Design
- 03Connect Google Tag Manager to Your Raise
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Investors can explore live raises today. Founders can bring their own community onto the cap table.