Thu, 11 March 2021
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
Storytelling is a key skill for any startup raising funding.
In the early days of a startup, the product and team aren’t fully developed and customers are typically not fully engaged.
The investors look to the founders to understand the potential of the business.
The founder who can articulate a clear vision of the company and fill in the gaps can win over the investor.
Such a skill demonstrates to investors the ability to win over potential employees, future customers, and critical partners to make the business successful.
If you can’t convince an investor of your story, how will you convince a customer to buy from you?
When talking to investors, the story comes into play when you are defining the problem you are solving. After that, the pitch goes to the specifics of the company - product, team, market - where the story form is less relevant.
Overuse of the storytelling technique throughout the pitch can drag out the process. When an investor asks how many people are on the team, it’s best to give a straight-up number rather than a story that explains the history of hiring each team member.
If the investor is interested to learn more, then they will ask.
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Category:general -- posted at: 6:00am CST