List a business angel and former Google employee David king. Young entrepreneurs hundreds of times trying to “sell” me their ideas. I conducted dozens of presentations, when I was an entrepreneur.
Over time I have come to understand. When people can clearly articulate their vision of the future, where you agree to support it. However, sometimes entrepreneurs say such phrases which their presentation looks very weak.
No need to show off throughout the presentation, however, it is still important to show the investor that you believe in yourself. When you say “trying to attract”, it sounds as if you are not sure that this will happen.
It seems to me that the investor would have been nicer to hear something like. “We draw $X to our company (or product) could reach such indicators”. So, either do or dont do. The third is not given.
Now you are attracting seed investment, you need not to worry thinking about ecsite. I want to hear that you are willing to work for a company for many years that you want to focus on how to bring more benefit — so the discussion of your exit strategy not worth the time spent.
Of course, some companies exit takes place very quickly, and personally I am a big supporter of this development. But when an entrepreneur starts this speech in the beginning — I have strobes brake light. There is an idea that he thinks very narrowly and suffers from possibilities.
Be bolder. Individual functions within the product is not interesting. Im interested in the markets, the people, the products themselves.
When you start to go into details of the features, you forget that the devil is in the details. On the other hand, today, many products are created to solve one problem, and its value is determined by only one function. And to be honest, these products I like more.
I was faced with a large number of companies who have developed some really interesting technology. Surprisingly, they all began without their own technology. The only exception that I know is Google and the PageRank algorithm.
Technology helps to scale these factors and protect the companys position from competitors. Im not saying that you dont need an app to launch “the next Snapchat” — better make that app and not to dwell on it the attention of investors because it is unlikely that you managed to create a truly breakthrough technology, especially if you are attracted seed investment. May you step out in a new dynamic space where you can create something that will undermine the core business of Google, Facebook or Amazon.
But still, I am skeptical when entrepreneurs say this sentence. The reason is that if companies do manage to strike Google, Facebook or Amazon, then this happens unintentionally — the owners did not set a goal to compete with them.
Today Facebook is the main competitor of Google and for the users attention and advertising budgets. In fact, the largest players in the online advertising market.
But when Facebook only grew, he was not trying to create the worlds best search engine. He was just trying to be the best social network. Uber competes with Amazon in the local delivery market is an important market for both companies.
However, Uber began as a service to call a taxi and not as “killer of the Amazon”. It seems to me that this phrase is a reference to cargo cult from the world of startups. Companies that invent something new, should not copy foreign models.
This world needs a fix. What is the solution to this problem will offer you. Once you understand the problem and create a solution, it is not like Airbnb.
Uber appeared a year after Airbnb, but the company never positioned itself as “Airbnb for drivers”. I have nothing against stars, because they have already invested in the company that raised money from Hollywood celebrities. Overall its not bad, but why do this accent during a presentation.
The entrepreneur thinks that thus can make a good impression, but for me, this brake light. In addition, the participation of stars does not affect my decision to invest in the company or not.
And although I prefer to invest in teams that have enough knowledge to develop the technical part of the product itself, I admit that there are many talented entrepreneurs who can transfer the development to outsourcing. This is not surprising, but if the entrepreneur is not sufficiently versed in the technical side, then it needs to be a brilliant seller.
In any case, it is better not to focus investor. Usually seven nurses the child without an eye, though there are rare exceptions. For me a large number of founders is an alarming sign.
At least, I want to hear your explanation of why that is the uniqueness of the company that require so many co-founders. I know of only one example of a great company, which simultaneously ran two people. In any case, you need to decide who will be the main to break all the obstacles and move quickly.