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Some thoughts on the mechanics of pitching from today's live pitch session. (Sign up on our newsletter at http://hustlefund.vc for info on the next one)
1) Feedback - you'll get feedback whiplash. Some investors will give you some advice. Others will give the opposite...
1) Feedback - you'll get feedback whiplash. Some investors will give you some advice. Others will give the opposite...
2) If you hear a piece of feedback multiple times, you may want to consider it.
If it's just once, feel free to ignore.
If it's just once, feel free to ignore.
3) You must BRAG. This will be easier for some ppl than others.
Other entrepreneurs who are pitching will also brag, so don't sell yourself short.
Other entrepreneurs who are pitching will also brag, so don't sell yourself short.
4) E.g. from today's pitch volunteers: if you are an award winning film maker or when to a name school or have some other amazing accomplishment, please tout it.
5) Come out "punching" with the best things about your business. It could be you as the right team. It could be your traction.
Figure out what that 1-2 things are and lead with that. That captures attention right away. Investors tend to lose interest.
Figure out what that 1-2 things are and lead with that. That captures attention right away. Investors tend to lose interest.
6) It's better to make your pitch a dialog. If you do have slides, make sure to be concise so that you can get feedback along the way. It's a two way street and you want to know what the other person is thinking.
7) The opposite to this is you use 55 minutes of a 60 min pitch just talking and you don't know what the other person is thinking...
This may "sound" like it went well, but you really have no idea.
This may "sound" like it went well, but you really have no idea.
8) An actual pitch in a VC's office is really nothing like a Demo Day pitch. It's a conversation. You don't stand in front of the room.
You can use a deck or not, but make sure it is a conversation. It's as much about you learning about the investor as them learning about you.
You can use a deck or not, but make sure it is a conversation. It's as much about you learning about the investor as them learning about you.
9) If you don't use a deck, it's easier to create a casual conversation, but it's critical that you remember your talking points.
YOU need to drive the conversation to hit all your points even if an investor makes it wander. That is YOUR job as a founder.
YOU need to drive the conversation to hit all your points even if an investor makes it wander. That is YOUR job as a founder.
10) A bad example of this if you don't get to talking about say customer acq and then later an investor emails you and says, "I've decided to pass because the cust acq seems too hard."
If you didn't get to talk about cust acq -- that's on YOU.
If you didn't get to talk about cust acq -- that's on YOU.
11) Time mgmt: if you only have 5 min, you should be able to work with that. 30s - work with that. 30 min - work with that.
Obv each is a slightly diff pitch with differing amnts of detail.
But that's impt to figure out. Use whatever time you have wisely.
Obv each is a slightly diff pitch with differing amnts of detail.
But that's impt to figure out. Use whatever time you have wisely.
12) Pitch the right investor.
VCs tend to look for ROI -- max ROI possible, not just positive ROI. & FAST growth.
Angels also want strong ROI but some ppl may be more mission oriented.
Find the right fit. A ding doesn't mean you have a bad biz. It means a bad investor-fit.
VCs tend to look for ROI -- max ROI possible, not just positive ROI. & FAST growth.
Angels also want strong ROI but some ppl may be more mission oriented.
Find the right fit. A ding doesn't mean you have a bad biz. It means a bad investor-fit.
13) Lastly, not discussed today -- don't get discouraged! Come in with full energy to each mtg!
It takes a while to fill the holes in your story. And to find the right investor.
It unfort just takes a LOT of mtgs.
It takes a while to fill the holes in your story. And to find the right investor.
It unfort just takes a LOT of mtgs.
