VC Minute – quick advice to help startup founders fundraise better
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Something I never want founders to forget is the importance of having a deck that can tell a story on its own. There are a lot of founders who think, “Oh, well, my deck is always going to have voiceover, or my deck is always going to be shared on my screen in my first meetings.” No, your deck is marketing material. Your deck is something that needs to be able to tell the story of your business just as well as you are able to. And sure, it’s not going to be as dynamic, it’s not going to be as exciting, but that deck is something that the partner that you’re working with within a fundraiser is going to share with the rest of the fund. Something that your existing investors are going to distribute to potential new investors. And so it’s got to do a lot of that workhorse effort of sharing the real meaning of the business before that first meeting.
Never neglect the importance of that deck being complete. And never miss the step of sending that deck to a lot of different stakeholders to get a ton of feedback on it so that you know that blind eyes coming into it understand what the business is and the opportunity is. And you know that people who are very familiar with the business think that you’re properly distilling the talking points that they would share about the business. And that your existing investors feel excited and empowered to send that deck. You need your existing investors to be ready to send that deck to everyone they know. And if they don’t feel excited about it, something’s missing. You want that deck to be really in tip-top shape.
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