Wie überzeugt man Investoren?

🤝Optimize for Investor-startup fit Don’t get discouraged by too many “No”s. The reality is that 90% of investors will either reject after seeing your slides or fall off eventually. Some are already “exposed” to your market through earlier investments. Most are simply not a good fit for you product, business model, or vision. Learn to identify the characteristics of investors who fit your founding team and your business, and zero in on them. This is especially true in the early pre-seed and seed rounds.

1. Keep your pitch clear and short to grab their attention. 2. Share unique insights that match their interests. 3. By showing that you understand their perspective, your pitch will resonate better with them.

Investors meet with thousands of startup founders each year, So here are my tips to Prepare to Pitch Investors. 1) Understand What Different Investors Need 2) Pitch your business, not your product 2) Show your financial projections

Need to prove that your idea is superior, much better than currently available alternatives. Get users input on what features, aspects of your idea are important.

First, understand how venture capital works! One of the biggest rejection factors I see is that founders think (or present themselves) too small. Venture capital is driven by the power law, meaning that a small number of investments in a VC portfolio will generate the vast majority of returns. Your company has to have the potential to return the VC's fund. This could mean you have to be able to become a unicorn. Assuming a 10x revenue multiple, you have to be able to make $100k in yearly revenue - in the timeframe of the VC's fund (often around 10 years). Does your business opportunity (and your market and financials slide in your pitch deck) reflect this? Can you grow your business fast enough? Tailor your story accordingly.

This matters to different extents depending on where you are in the journey. If you are very early, more weight will be placed on your vision, your approach and execution traction- ie how much progress you've made on getting things moving as a founder. If you are later in the journey, for example for "Series A" after you've had a growing product in market with customers - growth traction becomes key.

Traction is not just about revenue; it goes beyond that. It includes valuable partnerships, a growing user base, and even potential talks for future collaborations. Even if these elements are not generating immediate revenue, they play a significant role in the long-term success of a business. These factors demonstrate the potential for future growth and sustainability, making them essential indicators of a promising venture. So, be bold and create a slide called traction and list it all; it's crucial to show and explain traction beyond immediate revenue and acknowledge the broader impact of these partnerships, users, and potential opportunities in the future.

As stated before, traction becomes more important the bigger and later stage your funding round gets. In 2023, I see more and more investors demand first revenues before making an investment. Accordingly, you might have to consider how you can generate first revenues without funding. One way to get there is by doing things that don't scale (e.g., consulting projects). This can also be a great strategy to validate customer needs. But be aware that proving that you can sell yourself as a consultant doesn't prove that you can sell your SaaS solution. And selling your solution with 70% discount doesn't prove that you can sell it later at the originally planned price point. Make sure your traction proves what it's supposed to.

Do you know your numbers? Here are the 5 numbers that matter: 1. Customer Acquisition Cost 2. Conversion Rate 3. Monthly Recurring Revenue 4. Churn Rate 5. Burn Know these numbers But remember this: Investors buy into people, not just numbers. Make sure you're also able to paint an image of the future. So, use the numbers as a compass, but don't forget the people on the journey.

The earlier you are in your journey, the more the bet is probably on you as a founder and market problem you're solving, and less on the idea.

In startups, having a founder with a personal connection to the problem they're solving is crucial. The more personal the story, the more passionate the pitch becomes. When someone has firsthand experience, their passion never fades, even in tough times. This personal touch makes the pitch authentic and powerful, attracting investors and driving the startup to success. Your story will guide you.

When pitching investors, tell them your story. Show them your experience. Speak to your track record. - Make them feel it. - Get them excited. - Be confident. You’re not selling a business, you’re selling a dream. Your job is to make them believe in it. And that’s how you’ll make them invest.

I agree with this completely! For example: If you are selling a new technological product, for instance, you may mention that you studied engineering or computer science in school. You may also discuss your prior employment in the technology sector. Additionally, you might discuss any market or consumer knowledge you may have regarding the need your solution is solving.

I've seen cases where startup founders first had a social media channel (e.g., Youtube) before building a scalable product to sell. If you plan on building a startup, chances are you invested a lot of time understanding your customer base and their pain points better than most people out there. If that's the case, why not share your insights with the world on platforms your customers care about? Worst case, you improved your personal brand and learned some communication skills. Best case, your thought leadership and followership become major reasons why an investor funds you.

Many generalist investors will have myriad of objections as they have very little experience with the issue you are solving. Take them on board, integrate them if they're valid, and move on. Don't get hung up on any particular investor's issues, but if you start to see a pattern then you know there's something you need to adjust.

Your pitch deck will not be able to cover all possible objections. But if you get the chance to engage in a longer, in-depth (Q&A) session, have backup slides prepared for the most common questions. It shows that you are prepared and not making up answers on the spot. If a question gets asked every time, consider preempting it in the main pitch.

Yes be thankful for people's time and interest. But all passionate investors are also deeply grateful to have the opportunity to meet you and have the chance to invest in your dream. It's not a one way street so don't set up the tone to make it feel like that. Be confident and clear.

Investors are famous for being very slow to give a "no". This is frustrating but it's because they always want to keep their options open. However, your job as a founder is to get a clear "no" as fast as possible so you can move on.

After delivering the pitch, regardless of the outcome, always express gratitude and politely request a swift decision. Valuable investors understand the importance of time, and their interest will prompt them to act promptly, not wanting to miss out on a promising opportunity.

If you go for a very structured fundraising approach, consider setting deadlines both for yourself and the investors. E.g., "we want to close the round by X," "we accept term sheets until Y" - there are some risks involved. But if you are confident that you'll get a term sheet, this can help shorten the timeline.

If you want to get investors for your startup, don't just ask for cash. Ask for advice. Don't go into a pitch meeting with a proposal that says: "I need $X for my startup." Instead, go in with a problem, a challenge, or a roadblock and ask for help with it. This accomplishes two things: 1. You'll get the feedback you need on how to overcome obstacles. 2. You'll build a better relationship with the investor. Now, in the future, they'll be more likely to say "yes" when you actually do ask for money. So, next time you're pitching to an investor, don't ask for money. Ask for advice. It'll be more valuable in the long run.

Fundraising isn't a zero sum game. Founders should look to build a long term relationship that goes beyond a cheque. Maintain a mailing list of every potential investor you meet and pitch. Share regular updates (once a month) with them. Simple format below; - The Good - The Bad - The Ugly For each of the three points, include three sub points. You can use a service like MailChimp to automate and maintain your mailing list. This helps you be on top of mind. Even if an investor pass on the deal, he/she is more likely to recommend you to someone in their network simply because you've built transparency.

Starting a startup is exciting. It's essential to focus on solving the low-hanging fruit of the big puzzle first, as this initial success will pave the way for brand recognition, product-market fit, and, eventually, funding. Use the land-and-grab strategy when building the company, seizing opportunities as they come and making realistic plans for expansion in the future. By demonstrating immediate success and addressing current market needs, you will present yourself as a serious entrepreneur, attracting potential investors and partners who share your vision.

It is also important to show that what this investment will enable you to do, and where each penny will go. Investors want to ensure that their money goes towards the growth of the company and that you are not using their money just to pay off other obligations.

Winning over investors is as important as their winning over you. It's a match game where you're looking for investors that fit your ideal funder criteria (silent or advisory, amount, connections, endorsement) and you fit their ideal investment (stage, industry, technology, amount). Like every other business relationship, the degree to which you've shared values will determine how productive your collaboration. The best long-term relationships are a full-on values fit, with other aspects negotiable in compatibility. Be specific and be discerning. A short-term funding win, if incompatible in key ways, could create long-term strife.