Startup Funding Espresso – Mistakes in Synthesizing Answers

Mistakes in Synthesizing Answers

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In providing synthesized answers to the investor, here’s a list of key mistakes to avoid.

The most common mistake is summarizing instead of synthesizing.

Summarizing is not synthesis.

In this case, one recounts what was said but doesn’t create any new information.

The second most common mistake is citing facts, telling stories, and recounting general information without any particular point.

Synthesis creates a new concept from the facts and contextual stories that was not known before.

The third most common mistake is reciting the history of the startup rather than giving a synthesized answer.

The founder mistakenly believes that telling the backstory provides enough information to let the listener draw what conclusions they want.

Stories take a great deal of time and don’t answer the questions directly.

In a fundraise the main point is to show the company solves a significant problem with a meaningful solution and the founder has built a fundable company to deliver it. 

Instead of summarizing, focus on the main point and show the support for it.

Instead of citing facts, combine them into a coherent case that supports the main point. 

Investors look for short and to the point answers to their questions.

Finally, avoid using the story form for most answers.

 

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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