Mon, 28 December 2020
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
There are three stories every startup should be able to tell to investors.
The first is your origin story which tells why you started the business to begin with and how you got to where you are today.
This story answers the question, “Why are you doing this?” which usually comes from the storyline, “I had a problem. I couldn’t find a solution, so I created my own.”
The second story is that of your customer and the problem they have.
This story starts with a “day in the life of a customer” and describes what they do, how they work, and what problems they face. The customer has this problem - it costs them this much each year and they are motivated to find a solution. You then drop your product in as the ideal solution.
The third story is the “We can make the world a better place”.
In this story, you paint a big vision of a bold future where everything is better.
It follows the “imagine if we had this problem solved and how much better everyone would be.” You then show how your solution gives everyone that better world.
Write out your version for each of these three stories and practice it before talking with an investor.
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Category:general -- posted at: 7:00am CDT