First off, I bootstrapped my company from nothing into a very successful company without one penny of outside investment. My wife and I sold our house, used the money to get our company going and we had to forgo any payment to ourselves for a year.
That’s how the real world works for most true entrepreneurs. They grind it out.
Now…. over the years as we’ve built our company to a profitable, successful national company, I started to get the calls. Yes, I mean calls. Tons. Junior associates at VC and equity firms wanting to talk. Eventually over time we had the partners of these firms coming to meet us at our office.
So, my experience comes from already having built a successful business. Not going out with just an idea and pitching….. but from my perspective having done over 100 of these “Pitches” it’s all the same.
VC’s and investors want concise and to the point decks that get to the meat of your idea, the market for it, who you are and how you are going to make money.
They don’t care about all of your app’s bells and whistles, all the widgets and things you might think is cool. They want to know the solution you have works and does what you say. Don’t get me wrong but if you do a deep dive into all the tech talk, their eyes will glaze over.
They see so many pitches they want to know in just a few minutes if your idea makes sense. It’s about being to the point, what is your path to making money and gaining market share.
Just remember to be yourself as investors invest in people first. Bring energy, passion and a great story with a path to success and you will be on your way to doing well. Don’t over think it.
That’s my two cents.
Taking part in Pitch Competitions is always really fun. Even if you don't do too well, you still learn a lot by watching how others pitch themselves. Great practice for the real thing!
One of the best pieces of advice I've heard: Know your numbers. If you don't know your numbers, you don't know your business.