Thu, 1 July 2021
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
In pitching your startup for funding, you’ll find many opportunities to engage investors.
Not all opportunities will provide substantial time and attention to investors.
Develop an elevator pitch for those times when you have only a few moments to capture the investors’ interest.
Here are some key points to consider:
Start with the problem you are tackling and how big and costly it is.
Make it easy for the investor to grasp what you are doing.
Say what you do in just one sentence.
Investors need context and will find it difficult to follow until they know what you do.
Avoid telling a story in your elevator pitch, as there’s not enough time.
Instead, just give them the conclusion.
Some founders believe the investor can’t understand the startup unless they know the technology or science behind it.
Avoid going into the details of how the product works. Instead, focus in short order on the benefits of it. There will be time later to discuss how it works.
Founders often suffer from the curse of knowledge.
They know everything about their work and implicitly assume the investor knows more than they actually do.
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