Most entrepreneurs and managers of companies seeking outside capital vastly underestimate how long it will take them to successfully complete a financing. Here's the reality check: in our experience, we've seen that, on average, a company and a management team seeking financing should budget between 500 and 1000 work-hours to the capital-raising process, spread out over a 6 month time period.
Read the full article here [1].
Links:
[1] http://www.growthink.com/businessplan/help-center/raising-capital-your-business-how-long-does-it-take