Sysadmin 101: Troubleshooting

I typically keep this blog strictly technical, keeping observations, opinions
and the like to a minimum. But this, and the next few posts will be about
basics and fundamentals for starting out in system administration/SRE/system engineer/sysops/devops-ops
(whatever you want to call yourself) roles more generally.
Bear with me!

“My web site is slow”

I just picked the type of issue for this article at random, this can be
applied to pretty much any sysadmin related troubleshooting.
It’s not about showing off the cleverest oneliners to find the most
information. It’s also not an exhaustive, step-by-step “flowchart” with the
word “profit” in the last box.
It’s about general approach, by means of a few examples.
The example scenarios are solely for illustrative purposes. They sometimes
have a basis in assumptions that doesn’t apply to all cases all of the time, and I’m
positive many readers will go “oh, but I think you will find…” at some point.
But that would be missing the point.

Having worked in support, or within a support organization for over a decade,
there is one thing that strikes me time and time again and that made me write
this;
The instinctive reaction many techs have when facing a problem, is
to start throwing potential solutions at it.

“My website is slow”

  • I’m going to try upping MaxClients/MaxRequestWorkers/worker_connections
  • I’m going to try to increase innodb_buffer_pool_size/effective_cache_size
  • I’m going to try to enable mod_gzip (true story, sadly)

“I saw this issue once, and then it was because X. So I’m going to try to fix X
again, it might work”
.

This wastes a lot of time, and leads you down a wild goose chase. In the dark. Wearing greased mittens.
InnoDB’s buffer pool may well be at 100% utilization, but that’s just because
there are remnants of a large one-off report someone ran a while back in there.
If there are no evictions, you’ve just wasted time.

Quick side-bar before we start

At this point, I should mention that while it’s equally applicable to many
roles, I’m writing this from a general support system adminstrator’s point of
view. In a mature, in-house organization or when working with larger, fully managed or
“enterprise” customers, you’ll typically have everything instrumented,
measured, graphed, thresheld (not even word) and alerted on. Then your approach
will often be rather different. We’re going in blind here.

If you don’t have that sort of thing at your disposal;

Clarify and First look

Establish what the issue actually is. “Slow” can take many forms. Is it time to
first byte? That’s a whole different class of problem from poor Javascript
loading and pulling down 15 MB of static assets on each page load.
Is it slow, or just slower than it usually is? Two very different plans of
attack!

Make sure you know what the issue reported/experienced actually is before you
go off and do something. Finding the source of the problem is often difficult
enough, without also having to find the problem itself.
That is the sysadmin equivalent of bringing a knife to a gunfight.

Low hanging fruit / gimmies

You are allowed to look for a few usual suspects when you first log in to a
suspect server. In fact, you should! I tend to fire off a smattering of commands
whenever I log in to a server to just very quickly check a few things; Are we
swapping (free/vmstat), are the disks busy (top/iostat/iotop), are we dropping
packets (netstat/proc/net/dev), is there an undue amount of connections in an
undue state (netstat), is something hogging the CPUs (top), is someone else on
this server (w/who), any eye-catching messages in syslog and dmesg?

There’s little point to carrying on if you have 2000 messages from your RAID
controller about how unhappy it is with its write-through cache.

This doesn’t have to take more than half a minute.
If nothing catches your eye – continue.

Reproduce

If there indeed is a problem somewhere, and there’s no low hanging fruit to be
found;

Take all steps you can to try and reproduce the problem. When you can
reproduce, you can observe. When you can observe, you can solve.
Ask the person reporting the issue what exact steps to take to reproduce the
issue if it isn’t already obvious or covered by the first section.

Now, for issues caused by solar flares and clients running exclusively on
OS/2, it’s not always feasible to reproduce. But your first port of call
should be to at least try!
In the very beginning, all you know is “X thinks their website is slow”. For
all you know at that point, they could be tethered to their GPRS mobile phone and
applying Windows updates. Delving any deeper than we already have at that
point is, again, a waste of time.

Attempt to reproduce!

Check the log!

It saddens me that I felt the need to include this. But I’ve seen escalations
that ended mere minutes after someone ran tail /var/log/..
Most *NIX tools these days
are pretty good at logging. Anything blatantly wrong will manifest itself quite
prominently in most application logs. Check it.

Narrow down

If there are no obvious issues, but you can reproduce the reported problem,
great.
So, you know the website is slow.
Now you’ve narrowed things down to: Browser rendering/bug, application
code, DNS infrastructure, router, firewall, NICs (all eight+ involved),
ethernet cables, load balancer, database, caching layer, session storage, web
server software, application server, RAM, CPU, RAID card, disks.
Add a smattering of other potential culprits depending on the set-up. It could
be the SAN, too. And don’t forget about the hardware WAF! And.. you get my
point.

If the issue is time-to-first-byte you’ll of course start applying known fixes
to the webserver, that’s the one responding slowly and what you know the most
about, right? Wrong!
You go back to trying to reproduce the issue. Only this time, you try to
eliminate as many potential sources of issues as possible.

You can eliminate the vast majority of potential culprits very
easily:
Can you reproduce the issue locally from the server(s)?
Congratulations, you’ve
just saved yourself having to try your fixes for BGP routing.
If you can’t, try from another machine on the same network.
If you can – at least you can move the firewall down your list of suspects, (but do keep
a suspicious eye on that switch!)

Are all connections slow? Just because the
server is a web server, doesn’t mean you shouldn’t try to reproduce with another
type of service. netcat is very useful in these scenarios
(but chances are your SSH connection would have been lagging
this whole time, as a clue)! If that’s also slow, you at least know you’ve
most likely got a networking problem and can disregard the entire web
stack and all its components. Start from the top again with this knowledge
(do not collect $200).
Work your way from the inside-out!

Even if you can reproduce locally – there’s still a whole lot of “stuff”
left. Let’s remove a few more variables.
Can you reproduce it with a flat-file? If i_am_a_1kb_file.html is slow,
you know it’s not your DB, caching layer or anything beyond the OS and the webserver
itself.
Can you reproduce with an interpreted/executed
hello_world.(py|php|js|rb..) file?
If you can, you’ve narrowed things down considerably, and you can focus on
just a handful of things.
If hello_world is served instantly, you’ve still learned a lot! You know
there aren’t any blatant resource constraints, any full queues or stuck
IPC calls anywhere. So it’s something the application is doing or
something it’s communicating with.

Are all pages slow? Or just the ones loading the “Live scores feed” from a
third party?

What this boils down to is; What’s the smallest amount of “stuff” that you
can involve, and still reproduce the issue?

Our example is a slow web site, but this is equally applicable to almost
any issue. Mail delivery?
Can you deliver locally? To yourself? To <common provider here>? Test
with small, plaintext messages. Work your way up to the 2MB campaign
blast. STARTTLS and no STARTTLS.
Work your way from the inside-out.

Each one of these steps takes mere seconds each, far quicker than
implementing most “potential” fixes.

Observe / isolate

By now, you may already have stumbled across the problem by virtue of being unable to
reproduce when you removed a particular component.

But if you haven’t, or you still don’t know why;
Once you’ve found a way to reproduce the issue with the smallest amount of
“stuff” (technical term) between you and the issue, it’s time to start
isolating and observing.

Bear in mind that many services can be ran in the foreground, and/or have
debugging enabled. For certain classes of issues, it is often hugely helpful to do this.

Here’s also where your traditional armory comes into play. strace, lsof, netstat,
GDB, iotop, valgrind, language profilers (cProfile, xdebug, ruby-prof…).
Those types of tools.

Once you’ve come this far, you rarely end up having to break out profilers or
debugers though.

strace is often a very good place to start.
You might notice that the application is stuck on a particular read() call
on a socket file descriptor connected to port 3306 somewhere. You’ll know
what to do.
Move on to MySQL and start from the top again. Low hanging
fruit: “Waiting_for * lock”, deadlocks, max_connections.. Move on to: All
queries? Only writes? Only certain tables? Only certain storage
engines?…

You might notice that there’s a connect() to an external API resource that
takes five seconds to complete, or even times out. You’ll know what to do.

You might notice that there are 1000 calls to fstat() and open() on the
same couple of files as part of a circular dependency somewhere. You’ll
know what to do.

It might not be any of those particular things, but I promise you, you’ll
notice something.

If you’re only going to take one thing from this section, let it be; learn
to use strace! Really learn it, read the whole man page. Don’t even skip
the HISTORY section. man each syscall you don’t already know what it
does. 98% of troubleshooting sessions ends with strace.

via Planet MySQL
Sysadmin 101: Troubleshooting

Everything You Need to Know About Self-Employed Mortgages

Getting a mortgage these days is difficult enough, but for the self-employed it can seem impossible to get on the property ladder.

Lenders are reluctant to offer any form of credit to individuals who work for themselves due to the financial uncertainty which typically comes with it. However, there are some companies out there who specialise in self-employed mortgages so if you’ve been, or you’re worried about being turned down, there are lenders out there who can help.

Here we’ll look at everything you need to know about self-employed mortgages before you make an application.

What options are available?

In the past, the self-employed had one main option when it came to getting a mortgage and that was the self-certified variety. However, after lenders took advantage, these mortgages were scrapped. So, what options are available to you now? Well, the good news is self-employed people these days have access to much the same mortgages as anyone else. It’s what you need in order to be accepted which differs from standard mortgages.

All lenders are different, but the average lender offering self-employed mortgages will usually want to see a minimum of two years’ accounts. This is basically to prove your income and show you’ll be able to make the repayments on the mortgage. However, don’t despair if you don’t have two years’ worth of accounts to show. Some lenders, such as Saffron Building, accept just one year’s accounts, though they will require a few other things to prove you can afford the mortgage you’re applying for.

You’ll also potentially need to prove how much you’re expecting to earn over the next year. Of course, it also helps to have a great credit rating and a good deposit.

Tips to improve your chances

While each lender is different, there are a few general tips you can follow to improve your chances of getting accepted for a self-employed mortgage.

Firstly, if you have an accountant, part of their job is to try and save you as much taxable money as possible. However, this can seriously damage your chances of getting a mortgage if it turns out you’re paying a small level of tax. It shows you don’t have a huge income and that is a red flag to mortgage lenders. You’ll also want to make sure the accountant is chartered.

Ideally, you’re also going to want to be able to show that your profits are increasing and your business is growing at a healthy rate. Your accounts will also need to be fully up to date.

Overall, while it was incredibly difficult for self-employed to get a decent mortgage years ago, these days there are numerous options available. Choosing a lender which specialises in self-employed mortgages is a good first step that will improve your chances of being accepted.

 


via Business Opportunities Weblog
Everything You Need to Know About Self-Employed Mortgages

Resource: How to Tie Ropes and Cords for Function or Decoration

By learning some simple techniques to work rope or cord, you can use the stuff for everything from wrapping knife handles to dressing up exposed pipework to creating your own zipper pulls and tabs for softgoods. And survivalists have long known that it’s handy to have a length of paracord always on hand, bundled up into a space-saving package.

So where do you learn this stuff? Artist J.D. Lenzen has written over a half-dozen books on knot-tying techniques for those who’d like a permanent reference source; for those of you on a budget, he also founded a YouTube channel, TyingItAllTogether, where he’s got literally hundreds of videos showing you particular techniques for free.

Here’s an example of one of his videos, which are typically prefaced with a helpful explanation of what function that specific technique was developed for.

And finally, here’s a complete list of his videos.


via Core77
Resource: How to Tie Ropes and Cords for Function or Decoration

Free Fonts With Personality And Style






 



 


The sharing spirit in the design community is remarkable. Designers spend countless hours on side projects and without asking for anything in return, they share their creations freely with the community. Just to give something back, to inspire and to support fellow folks in their work.

30 Free Fonts With Personality And Style

When working on a project yourself, freebies like these can come to the rescue when you have to get along on a tight budget, but, more often that that, they simply are the missing piece that’ll make your design complete.

The post Free Fonts With Personality And Style appeared first on Smashing Magazine.

via Smashing Magazine
Free Fonts With Personality And Style

5 Reasons Why I Fell in Love with Swift

Swift, as many of you would know, is the programming language for iOS developed by Apple after Objective-C. Swift was launched approximately two years back and it was an instant hit among the iPhone app development services. With a few new releases and version updates, Swift has been able to swiftly and effortlessly replace its predecessor—the Objective-C. Due to the ease of use, it is the first choice made by professionals who offer iPhone app development services.

When I personally started using Swift, it took some time before I got accustomed to it. But then, the more I worked on it, the more I grew fond of it.

In this blog, I will focus on the top 5 reasons why I fell in love with Swift:

Multiple-Features

apple_swift

Swift has a lot of features that provide ease, flexibility, and liberty to be creative. In terms of ease and flexibility, Swift offers short and adept syntax and community support. In terms of liberty, Swift lets you create your own extensions and share them across the community for all associated members. Swift lets you learn by making use of the integrated playground that is your medium to experiment and create new things.

Easy to Learn

Another feature why I fell in love with Swift is its adaptability and easy-to-learn feature. Basic knowledge and working module can be learnt through online videos posted by advance developers.

These posted videos provide some specific ideas on how to go about Swift. The learning is also easy because of Apple’s stringent procedure of approving its product therefore the videos which are posted on Apple’s official eBook can be truly relied on. Swift users are also givers — givers in the sense that they provide details about their hard work and process. By sharing, they make life easier for amateur Swift users.

Futuristic

swift playground

The best part of Swift is that it is futuristic. This feature makes Swift the most used language by developers because it of its ability to solve any task. Swift is in-built with ARC (Automatic Reference Counting) which allows Swift to give proper results by guessing the searched words similar to Google’s auto-complete feature for word searches. It is perhaps the only language which can be used simultaneously with Objective-C.

Swift Development

Swift is really swift. It is perhaps the fastest among all the programming languages. However, it requires iOS 7 or macOS10.9 versions. With the use of Swift, you receive fast results which enable you to overcome any problem in the development stage. It is a huge time-saver.

Debugging

Many programming languages struggle in debugging during development. iPhone app development services providers take utmost precaution to overcome such instances. In contrast, Swift has the ability to debug in the process of development. With use of real eval print loop (REPL), it is easily to debug scripts. Swift is therefore considered to be ideal for quality system programming language.

Conclusion

With Swift, there are immense opportunities and a lot of those rely on your skills. If you are a Swift fan, share your knowledge and the reasons you prefer Swift as your programming language.

 

The post 5 Reasons Why I Fell in Love with Swift appeared first on Dumb Little Man.


via Dumb Little Man – Tips for Life
5 Reasons Why I Fell in Love with Swift

Ohio Woman Starts Furniture Company to Fill Concealed Carry Niche

secret-compartments_213-2

I love the atmosphere at the NRA’s Great American Outdoor Show for many reasons, but a big reason is that it gives smaller companies a chance to get in front of consumers and industry members.

One such company is Secret Compartments Furniture. Owner Jill Herro says when she took a concealed carry class eight years ago, she wanted a way to store her firearms around her home in a practical, safe and fashionable way.

“When I looked online for some way to store my gun around the home, there was just nothing,” Herro told me. “I mean, we’re talking 7-8 years ago, so there wasn’t anyone doing this sort of thing at that time.”

Herro says about six months later, she was laid off from her job in the pharmaceutical industry. That’s when she realized there was a huge opportunity for her to fill the concealed carry niche in home furniture.

“I just happen to live in an area with the largest Amish populations and realized that with the number of amazing Amish furniture builders here in Ohio, I had the opportunity to make a line of functional concealed carry furniture that would be second to none in quality.”

And that’s exactly what she did.

Secret Compartments Furniture is a premium concealed carry furniture company with an unlimited number of products, finishes and possibilities. “If it can be made out of wood, I can build it,” Herro said.

In addition to premium pieces like bookcases, tv stands, headboards and end tables, Herro said she’s also able to work with your home builder to create custom cabinetry for you kitchen and throughout your home.

“There’s really no limit to what we can do!”

A “tot lock” can also be added to most products to restrict access to firearms stored in the furniture as well, making the pieces both functional for parents and safe for children.

To learn more about Secret Compartment Furniture or to place your order, check out their website [HERE]

The post Ohio Woman Starts Furniture Company to Fill Concealed Carry Niche appeared first on Bearing Arms.

via Bearing Arms
Ohio Woman Starts Furniture Company to Fill Concealed Carry Niche

Neutralize a Workplace Bully By Asking Them to Slowdown and Explain

Bullies are notoriously hard to deal with because they don’t act rationally or with respect. However, in a workplace setting you can still take charge of the situation by asking them to explain what their issue is.

As advice site Barking Up the Wrong Tree explains, workplace bullies are a bit more nuanced than the ones you encountered as a school kid. Rather than using physical violence or calling someone names, workplace bullies are more likely to get into verbal confrontations to push you around. If things get heated, try asking them to slow down and help you understand:

Again, a totally reasonable and polite request. You’re the rational problem solver. And no accusations are being made…

If they keep yelling and you keep calm, who looks like the one in control? Who looks like the crazy person? Which of these people is leadership material? Exactly. You’re calm and in control. They have to stop yelling or risk looking like an insane person. You’ve done nothing to insult them or fan the flames.

In this case, asking them to explain is more for the benefit of those watching, rather than the bully. If you’re calmly asking them to explain what they’re upset about and try to understand their position, you look more in control. In some cases, they may even calm down if you sound like you’re listening to their side. Of course, that doesn’t mean you have to do what they ask, but hearing them out makes you look more like the calm, collected person that everyone else in the office wants to look up to. Check out the source article below for more tips to deal with workplace bullies.

This Is How To Overcome Bullies At Work: 7 Expert Secrets | Barking Up the Wrong Tree

Photo by Jerzy Kociatkiewicz.


via Lifehacker
Neutralize a Workplace Bully By Asking Them to Slowdown and Explain

Court Orders Small Ohio Speed Trap Town To Refund $3 Million In Unconstitutional Speeding Tickets

The state of Ohio has had its problems with speed cameras. Back in 2010, the city of New Garfield refunded $100,000 in fines collected in violation of its speed camera policy. The city told the public that drivers would only be ticketed for driving more than eleven mph over the speed limit [… which makes one question the purpose of its speed limits]. Plenty of drivers got dinged for exceeding the speed limit by less than the arbitrary cutoff, resulting in the mass refund.

Not that this will necessarily keep anyone from being ticketed, speeding or not. In the same year, an Ohio court ruled that an officer’s guesstimate of someone’s speed is just as reliable as radar or speed cameras when it comes to testimony. Given how many speed cameras have ticketed parked cars and brick walls, this is somewhat of a "close case" when it comes to testimonial accuracy.

The Newspaper — which stays on top of every speed/traffic cam-related development [note: they really HATE traffic cams in France…] — reports that New Miami, Ohio, is being forced to hand back every cent of its speed camera take as the result of a court decision.

New Miami, Ohio broke the law, it was caught, and now it will have to repay $3,066,523 worth of tickets. That was the judgment rendered Wednesday by Butler County Court of Common Pleas Judge Michael A. Oster Jr.

"If the government has created an unconstitutional law/ordinance that has taken people’s money without affording them the necessary due process protections, should not justice demand, and the law require, restitution of that money to the people?" Oster asked at the opening of his ruling. "Once the complexities of the law are analyzed, the answer is simple: Yes."

As the court sees it, the system set up by the town eliminates a crucial Constitutional right. It’s very likely the town knew its actions were unconstitutional, but it probably never assumed it would have to refund $3 million in ill-gotten revenue.

New Miami, Ohio, is more speed trap than town, as the court order [PDF] explains:

The Village of New Miami is in St. Clair Township located just north of the city of Hamilton. New Miami is less than one square mile in size (.95 square miles) and has a population of 2,249 people based on the 2010 United States Census Bureau. US. 127, a major north-south highway, runs through the Village and is the primary location where the speed cameras were located.

Despite its blink-and-you’ll-miss-it size, the village still issued an incredible amount of tickets, thanks in part to its freebie contract with camera provider Blue Line Solutions (BLS). The contract it signed required the cameras (of which there were at least two) to be in operation for a minimum of 100 hours a month. This isn’t unmanned time, as the camera system requires an officer to pull a trigger and capture an image of the speeding driver to send to the processing company that issues the tickets.

BLS gave the town the cameras for free, under the assumption the investment would pay off with operating times of 100 hours per month minimum per camera.

After review by a Village of New Miami police supervisor, the ticket is mailed to the registered owner and a fine of $95 is included.

The village and Blue Line Solutions, LLC split each $95 fine with one another. The village keeps 65 percent of the $95 fine while the private camera company keeps 35 percent.

The speed cameras as free for the village, provided to the village by the private contractor under the five year deal.

To ensure the revenue flow wasn’t disrupted by angry drivers and/or insurance companies, the town rewrote its statutes to cut both the criminal justice system and insurance companies out of the equation.

Village of New Miami records show the small Butler County village created its own speeding law in 1991, allowing the village to charge speeding violations under a civil ordinance instead of under the state’s uniform traffic statute.

Under the village ordinance, drivers caught speeding in New Miami would not be subjected to the state’s point system, which would suspend a driver who accrued 12 point violations in a two year period. As a result, insurance companies would not know the conduct of the drivers they cover.

None of that matters now that the court has found the village’s system unconstitutional and the town responsible for paying back members of this class action lawsuit. And this $3 million will all be coming from New Miami. The camera manufacturer has no liability if the cameras are deployed unlawfully. That’s all on the municipality, which will probably have to screw its own residents to issue refunds on the hundreds of bogus tickets as the money it’s unlawfully collected over the years hasn’t just been sitting around collecting interest.

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via Techdirt
Court Orders Small Ohio Speed Trap Town To Refund $3 Million In Unconstitutional Speeding Tickets

Power Sword Keys Pay Tribute to He-Man, Final Fantasy, Voltron & More

Power Sword Keys Pay Tribute to He-Man, Final Fantasy, Voltron & More

Unleash your inner He-Man and open the doors to Castle Grayskull with these tiny swords. The Key Armory has a new collection of sword-shaped blanks that can be taken to any locksmith and turned into fully-functional keys for opening your doors like a badass. They feature designs inspired by Final Fantasy 7, Xenoblade Chronicles, Voltron, Sword Art Online, and of course He-Man. By the power of Grayskull!

These keys are compatible with the Kwikset KW1 and Schlage SC1 key types, and once cut will work in 95 percent of the locks used in North America. You can get them through a Kickstarter campaign for $10(USD) each. They should ship in July.

via MightyMega
Power Sword Keys Pay Tribute to He-Man, Final Fantasy, Voltron & More

2017 is the year your startup gets funded

The turn of the calendar is cathartic for entrepreneurs — there’s something about starting a new year that inspires folks to launch a new startup, build a new product or raise capital.

If you’re starting to raise capital, this is your guide. Let’s get to it.

Step 1: Build your funnel

Fundraising is a numbers game, and unless you have Snapchat levels of growth or have previously taken two other companies public, you’re going to need to talk to a lot of investors.

A lot of investors.

Thus, the first step is to build a list of 150-200 names to feed into the top of your funnel.

Here’s why: A 5 percent “hit rate” — meaning the ratio of pitches to commitments — is pretty typical. Working backward from that metric, it means if you’re aiming to fill a seed round with 10 solid angels, you need 200 names on your initial list.

Free tools to build your list include AngelList and Foundersuite, where you can search by industry and location; Crunchbase, where you can search similar (but non-competitive) companies and see who invested in them; and Quora, where you can search by keywords and phrases (e.g. “Who are the top SaaS VCs/Angels?” and probably find an answer.

Paid databases include PitchBook, Mattermark, CB Insights and others, which offer a variety of search and filtering tools. Other sources of leads include TechCrunch, PE Hub, Term SheetInside Venture Capital and Venture Pulse, all of which are newsletters that report deals.

Step 2: Filter and qualify your leads

Fundraising is a sales process, and as any good salesperson will tell you, you want to be selective in who you spend your time pursuing.

This holds equally true (or more so) in fundraising. There’s nothing more frustrating than driving an hour and a half from San Francisco to Menlo Park only to find the “early-stage investor” you’re meeting with is looking for $200,000 MRR — or worse, they’re not currently doing new deals.

You’ve just wasted half a day, which is an eternity in startup time.

Thus, it will save you a huge amount of headache and angst if you diligently qualify and filter your initial list. Here are several criteria for removing someone from your funnel:

As a general rule of thumb, aim to cull around 25-30 percent of your original target list. Doing so will significantly improve your hit rate when you start the outreach process.

Step 3: Map your contact paths

In this step, your job is to figure out the best way to reach each qualified lead on your target list.

The optimal way to get a warm introduction is via a mutual connection (and indeed, an intro by someone who has made money for the investor in the past is the very best).

To map your contact path, simply plug the investor’s name into LinkedIn and see if you have any first- or second-degree connections.

If you don’t have a mutual connection, a “hack” is to look at the portfolio of the investor and cold-email one or two of the founders. Build a rapport first — ask what the investor has been like to work with, their value add, etc. — then ask for the intro.

As a very last resort, you can cold-email the investor. I’ve seen startups do this en masse, and it’s rare to get a response rate of more than 1 percent or so.

Step 4: Set up a tracking system and draft your pitch materials

Let’s recap: By now you’ve built a list, qualified that list and figured out your approach to each lead. Now it’s time to get organized for the actual raise.

I strongly suggest setting up a tracking system to manage your raise. With a large funnel of leads to pursue, the complexity of keeping track of all the names, deal stages, conversations, follow-ups and to-do items will grow exponentially.

Every investor meeting might generate 3-4 follow-up items to work on. Multiply that times the 100-150 investors on your list… you get the point.

Get a system in place to manage your investor funnel and the hundreds of conversations you’ll soon be having.

Many startups use Excel or Google Docs to keep track of their funding pipeline, though it tends to get messy and cluttered after about the first week.

A newer trend is the “kanban board” method, where each investor is represented as a “card” that you can move through the deal stages — from New to Pitched to Due Diligence and Committed (or “Said No”). Foundersuite, Pipedrive and Trello are kanban boards popular with startup founders.

Other founders repurpose their Salesforce or other sales-focused CRM tools for fundraising. Regardless of how you skin it, get a system in place to manage your investor funnel and the hundreds of conversations you’ll soon be having.

In addition, you should have a 10-20 slide pitch deck, a 1-2 page executive summary and a financial forecast tight and ready to go.

The pitch deck is the most important, as it is your “workhorse” during the deal; you will use it constantly. Here’s a guide to building a pitch deck if you need pointers, and here’s a collection of decks to get some inspiration.

Before moving to Step 5, present for feedback your entire pitch at least five times to friends, advisors, your attorney and any “friendly” investors in your Rolodex. Collecting and incorporating feedback is a good habit to ingrain now; you will tweak your pitch materials constantly throughout your raise.

Step 5: Start having conversations (in parallel)

With a qualified list and a tracking system in place, we are ready to start the money hunt in earnest.

It’s time to start reaching out, talking to money folks and generating momentum for your deal.

The best way to start is to email your connectors asking or confirming that they will make introductions. Send each connector an email like this:

Subject: Jeff, can you make a couple of investor intros? 

Body: Jeff, I’m starting to raise money for my startup. I see you’re connected to <X,Y,Z> on LinkedIn. Do you know them well enough to make a lightweight connection? 

Next, for each investor that Jeff responds in the affirmative, draft a new, clean email asking for the intro. Customize the fields in <brackets> with your info:

Subject line: Jeff, can you introduce me to <Aydin Senkut> at <Felicis Ventures>? <re: Acme Analytics seed round; growing 28% per month> 

Body: Jeff, I’m raising a <$1M> seed round for Acme. We make <analytics and payment software for commercial drones>.  We have <69 paid commercial accounts> and our revenue is growing <28%> month-over-month. 

I’d like to chat with <Aydin>: his approach and portfolio is really relevant <e.g. Flexport>. 

Here’s a link to our deck. Thanks in advance, Jennifer

Three sections describing what you do plus a key, exciting metric or other “teaser” and a brief reason why you specifically want to talk to that investor is all you need.

Now all Jeff has to do is click Forward and ask the investor if he wants to be connected (the “opt in” approach). In this way, you’re making it easy for Jeff; it takes very little time and he doesn’t need to spend valuable social capital.

Making it this easy for your connectors to do their job is extremely important, as there is a direct correlation between how busy someone is and how connected they are.

Repeat this process for all investors on your target list. If you’ve done your homework, and made a reasonably good match with what the investor is looking for and what your startup is pitching, your dance card will soon be full of investor meetings.

Step 6: Hustle, jive and drive it forward

Now your fundraise is in full swing. Your job is to generate momentum, and the best way to generate momentum is to have a lot of meetings. Every day. Every week. Until you’re funded.

Investors can sense when you’ve got some heat on your deal, and it also gives you an air of confidence, which adds to the allure. Conversely, if your fundraise is dragging out and not really catching fire — investors can detect this as well.

The format of these meetings will vary — coffee versus in-office versus Skype, etc. Most tend to be scheduled for 30 minutes to an hour. At the initial hello, be sure to reference the mutual connection and how you know him or her if the bond is strong.

Each pitch will have its own unique flow, but try to guide the discussion as best you can to cover key points.

After a minute or two of small talk, it’s time to get into the pitch. I like to ask the investor what format she prefers, e.g. “How do you like to do these? Do you want to go through the deck, or do a product demo, or just chat a bit?” Involve them in the process.

If you’re doing a call, be sure to have a screen-sharing system set up and ready — you don’t want to chew up 10 minutes downloading and updating your Webex software (this happens frequently).

Each pitch will have its own unique flow, but try to guide the discussion as best you can to cover key points. I also suggest you make the investor pitch you — ask how they tend to add value to their companies (general “value add”), as well as how they could help your specific startup, should you end up working together.

At the end of the meeting, conclude by asking, “What’s your interest level?” as well as, “What does your process look like — what are the next steps?”

(At this point, how grateful are you that you set up a tracking system in Step 4? You’re welcome.)

Step 7: Go for the close

After about 20 meetings, you should have a pretty good feel for whether your round is going to come together quickly (i.e. 2 months) or be a drawn-out slog (3-6 months); most tend to be the latter. That’s normal.

Hopefully your meetings are leading to progressively deeper dives on the part of the investors. This means they’re interested, and if they’re interested, the discussion should start to veer toward valuation and terms. Next, you will receive a term sheet (if it’s a priced round) or commitments if you’re raising a convertible note.

But even if you don’t have a term sheet after 15-20 meetings, don’t despair. Fundraising is a numbers game — remember our “hit rate” from Step 1? If you’re averaging a 5-10 percent ratio of pitches to commitments, you’re doing OK. This also means you’re getting rejected 90-95 percent of the time. Accept it as the way the game works, and don’t give up prematurely.

Weak founders give up too soon. Smart founders know when to quit. As a general rule of thumb, if you’ve talked to at least 50 investors and if you’re still not getting any meaningful interest, it may be time to regroup and try later when you have more traction.

Otherwise, follow up frequently with everyone who’s still in your pipeline. Send regular updates on your progress and new developments. Your goal is to get them to decide one way or another — if it’s a no, so be it — at least you can remove them from your deal pipeline. But with a little luck and perseverance, your pitch will start to click.

Once you get the first term sheet, use it as a catalyst and push the other funds (or angels) to put one down too. When you get a verbal yes, employ Paul Graham’s handshake deal protocol. The more commitments and/or terms sheets you get, the more leverage you have and the faster you can move the round to a close.

Conclusion

That’s it. Enjoy the “post-close glow” — raise a celebratory glass with your team and all the connectors who helped along the way — and get back to work. Your next round is likely only 12-14 months away.

Featured Image: Nomad_Soul/Shutterstock

via TechCrunch
2017 is the year your startup gets funded