May 26, 2023
Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.
The testing effect is defined by Wikipedia as the fact that you more easily remember information you have read by rewriting it instead of rereading it.
Investors remember what which they recall from memory better than just hearing the pitch again.
This comes from research showing that taking a test that requires one to write out a response improves retention better than just rereading the material.
This moves the information into long-term memory.
Founders can use the testing effect by asking investors questions about the pitch to exercise recall.
For example, ask the listener, ‘Remember the problem we are solving?’
Give them time to recall it.
If they don’t respond in a timely manner, then give the answer.
This avoids the awkward silence that can arise.
During the Q&A portion, engage the investor in a dialog that recalls key points such as the problem you solve, the solution you offer, and the traction you have.
This will help the investor remember your deal better.
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