26 min
DT2. Fueling your Startup with Great Investors. 2023-03-10 Paul, Deon & Tong
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- Tech News
Well in these incredibly turbulent times, what's the best way to deal with venture capitalists and other investors particularly if you are early stage? In places like Europe there is a real zone between $50K and $1M that is hard to cross, so should you spray and pray or be more targeted? Well, who knows what the right answer is, but there are probably too.
Answer the basic questions in your presentations and you can use the Sequoia template as an example. See https://perfectpitchdeck.com/2018/01/30/sequoia-capital-pitch-deck-template
But the harder part is realizing that you are not trying to sell an investor but asking, "What does the customer want to buy?" In that way, this is no different than any marketing exercise. I can't find the exact quote anymore, but Peter Drucker the father of modern marketing did say, Markeint does not ask, "what do want to sell?" It asks, "what does the customers want to buy". So when you are meeting an investor that's the key question.
The good news is that the investor unlike almost any other customer is completely activated, they want to buy your product, and you just have to find out what's in the way. The easiest way to do it is just to ask them. So for instance, if you have a construction tech company, just ask, "so what do you think about construction tech, is it a good category?" And you will be amazed at what they will tell you. Don't ignore it, make their points the crux of your pitch. There will be lots of objections and the mark of a good plan is that you've thought the same things, so what are you doing about it?
Show notes at https://tongfamily.com/2023/03/10/dt2-fueling-your-startup-with-great-investors/
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Send in a voice message: https://podcasters.spotify.com/pod/show/richt/message
Well in these incredibly turbulent times, what's the best way to deal with venture capitalists and other investors particularly if you are early stage? In places like Europe there is a real zone between $50K and $1M that is hard to cross, so should you spray and pray or be more targeted? Well, who knows what the right answer is, but there are probably too.
Answer the basic questions in your presentations and you can use the Sequoia template as an example. See https://perfectpitchdeck.com/2018/01/30/sequoia-capital-pitch-deck-template
But the harder part is realizing that you are not trying to sell an investor but asking, "What does the customer want to buy?" In that way, this is no different than any marketing exercise. I can't find the exact quote anymore, but Peter Drucker the father of modern marketing did say, Markeint does not ask, "what do want to sell?" It asks, "what does the customers want to buy". So when you are meeting an investor that's the key question.
The good news is that the investor unlike almost any other customer is completely activated, they want to buy your product, and you just have to find out what's in the way. The easiest way to do it is just to ask them. So for instance, if you have a construction tech company, just ask, "so what do you think about construction tech, is it a good category?" And you will be amazed at what they will tell you. Don't ignore it, make their points the crux of your pitch. There will be lots of objections and the mark of a good plan is that you've thought the same things, so what are you doing about it?
Show notes at https://tongfamily.com/2023/03/10/dt2-fueling-your-startup-with-great-investors/
---
Send in a voice message: https://podcasters.spotify.com/pod/show/richt/message
26 min