When is the best time to raise money?

A common question asked by small business owners and startup entrepreneurs on 40Billion.com is “When is the right time of the day/week/year to raise money?” It helps to plan.

We have 5 rules of thumb to improve your chances of getting the attention of funders – whether they’re friends, family, or even strangers who are funding your business:

  1. Avoid holidays — People are on vacation.
  2. Avoid Mondays — People are too busy. Friday’s are best.
  3. Avoid late nights, early mornings — People are sleeping, and you should be too. 11:30am, 1:30pm, and 7:30pm are best.
  4. Avoid the end of the year — People are either on vacation or just too busy trying to hit end-of-year work goals.
  5. Weekends are okay for social networking sites, but not work email — If you’re contacting funders via social networking sites (e.g., Facebook), then you may get their attention on the weekend; however, don’t try emailing them at their work during the weekend because you’re not likely to receive any responses.