VC Minute – quick advice to help startup founders fundraise better
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Allyson Plosko:
Over several episodes this week, we’ve provided different recommendations of topics to include in the pitch deck. We aren’t the first ones to do this, and we certainly won’t be the last, but as we wrap up this week, we wanted to call something out: every single one of these is a suggestion. The proffered advice is just that—advice. It’s designed to help guide you toward a story and shouldn’t be considered prescriptive.
The reason there isn’t a formulaic outline is because, ultimately, an early-stage pitch is the founder’s story. If we’ve said it once, we’ve said it a million times. So much of an early-stage investor’s decision comes down to an investor’s belief in the team. The pitch should showcase who the founders are as people, their strengths, and how they think about the business. Investors want to see the heart and soul of who is at the helm.
Sure, there are specific things that should absolutely be included, such as the problem being solved and the revenue model, but the founder is responsible for tying all of the pieces together and telling a broader story. What works for one founder might not for another. Like episode 106 highlights, you have to be you. The word authenticity gets thrown around a lot, but I think it’s critical to fundraising success. If a founder isn’t telling a story that feels genuine to them, investors can see through that. Just like great chefs add their own flare to dishes to make it their own, so too should founders.”
Rich Maloy:
Well said, Allyson. Thanks for sharing all of your insights this week. And if you want to read more of Alison’s insights, she does a great job of putting together the newsletter on VCminute.substack.com. Go check that out.
For our part, we’ve already started the process of crafting the SpringTime story as we think about what a third fund will look like for us. Though our fundraising timelines run on a much longer cycle, we’re only halfway through this fund; after all, we have to start planning for it now. I’m sure I’ll have updates for you as we dive into that.
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