Got an interesting question recently from a founder who had their first VC pitch coming up—no deck, just verbal, and they were concerned about how to present themselves if they aren't currently raising Here’s the thing: when you’re in a situation like this, where you’re pitching one VC or a small group, you need to shift your mindset. You’re not in a position where you’re trying to convince them to invest. You should be approaching it like, “Hey, I’m not fundraising yet. I’m happy to share what we’re doing, but I’m not in a rush to raise money right now.” You want to make it feel like you’re the one evaluating them as much as they’re evaluating you. Especially with angel groups or smaller investors - you can’t come across as desperate. Go in with confidence, knowing you’ve got something valuable, and that you’re better than needing to impress them. The founder’s other concern was what if they don’t have a solid CAC number yet? My take: It’s okay not to have every metric locked down. You can still give a thoughtful answer. The key is to own your numbers, even if they aren’t final. Something like: “We don’t have 100% solid numbers yet, but here’s what we know so far. We’ve done X, and we’re modeling CAC based on this. Our initial tests show this, and even if we double the CAC, we still see this being a strong business.” You’re giving them context, showing you’ve thought through it and that you’re on top of the business even if the specifics are still evolving. One more tip: if you’re pitching to a group especially over Zoom with a bunch of people throwing questions at you - don’t get rattled. Multiple people are going to be thinking of different angles, asking questions left and right. You won’t have every single answer off the top of your head, and that’s fine. What matters is that you can talk about the topic with confidence and guide them through your thought process. At the end of the day, it’s less about having the perfect answer and more about showing that you know your business inside and out.
Jason Yeh Great insights! I'd add that building a strong narrative around your vision and market opportunity can be incredibly powerful. Even if you don't have all the metrics nailed down, articulating a clear and compelling vision can help VCs see the potential and align with your long-term goals. Also, showcasing your team's unique strengths and past successes can instill confidence that you have the right people to navigate challenges and execute the plan. Remember, VCs invest in people as much as they do in ideas.
Great advice! TY
Relationships are everything in fundraising! It doesn’t just start with the pitch!
So good! So much of fundraising is connecting and nurturing relationships, so that when you're ready to raise, investors are excited and will pay attention.
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3moThe trick to any presentation is to remember you know more about your subject (your startup) than anyone in your audience. Wait until you’ve nailed your pitch narrative before pitching in front of an audience and then pitch with confidence knowing you're well prepared. And accept that not everyone will like your pitch and shrug it off when it happens - unless they provide feedback that makes complete sense, in which case use it to refine your pitch.