Stop spending a lot time in your product when pitching to traders
Investors do not care about your product. Not actually.
Investors suppose an incredible deal about a large number of issues when contemplating an funding: How large is the market? How good is the founder-market match? Is it venture-scale?
It’s pure for founders to dwell and breathe for his or her clients and product, however the soiled little secret of fundraising is that your traders are terribly unlikely to care about your product. And they’ve a couple of authentic causes for being that approach.
I usually see product-focused founders spending quite a lot of time speaking concerning the resolution they’re constructing. That is smart. In the context of constructing an incredible product, founders are creating an funding pitch that displays their day-to-day life. They will spend quite a lot of time on their product: They’ll speak to clients, work with engineering and try to slice the advertising and marketing pie in a approach that is smart.
So when a founder is speaking to their traders, clearly the traders ought to care simply as a lot as concerning the product, proper?