Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In meeting with a prospective investor, come prepared to discuss the following:
- Sales -- ALWAYS have something to say about customer interactions. Even at the pre-revenue stage, talk about prospective customers and their reaction to your product idea. If you have existing customers, talk about the value those customers receive from your product.
- Team -- talk about your team and how they are closing sales, generating leads, building product, and in general, how great they are.
- Product -- talk about the ROI the customer is receiving from the product. Don’t talk about how the product works in minute detail. Stay at the benefits level.
- Fundraise -- talk about how other investors are interested and demonstrate your fundraise traction.
If you’re not ready to raise funding, then use the following:
“I’m not raising funding now, but in six months I will launch a fundraise. Here are my results so far. May I keep you informed of our progress?”
Also, ask questions of the investor such as:
What do they invest in?
What can they do for their investments beyond the check writing?
What advice do they have for you based on what they see so far?Who else do they recommend you talk to?
Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.
Let’s go startup something today.
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