I will have my first call soon and I'm a little bit nervous. What to expect? What is the list of common questions to startup on this kind of meeting?
What is your exit strategy?
Thanks, reasonable question. Better to prepare the answer on it for me :)
What kind of company are you building?
Who is the ideal customer?
What is the real pain point of customers?
What your business model?
What geography you will tackle first?
Will it be direct sales or via channels?
How will the product look and feel?
Will it be a pure SaaS play or will it also include professional services?
Will it be a vertical SaaS or horizontal Saas?
What is your anfair advantage?
Who is your main competitor?
Thank you a lot!
Current investor and former accelerator operator here.
I'd recommend highlighting what makes your team special, the problem you're solving and how you managed to find more people who have the same problem.
You can find out more useful techniques on https://ventureslist.com/
Thank you a lot for the info from your experience!
Do you have traction?
Do you have revenue?
Are you full time?
So far, in my limited conversations, if you can't answer yes to all three, then the conversation usually stops there for now.
Wow, it sounds quite serious. Who was an initiator of a conversation in general? Did you have the same required list of questions of any fund or accelerator wrote you first?
As a bootstrapper, understandably, it seems that most funding opportunities are looking to de-risk their investment. Seems like those three questions are the litmus test to get into the club.
I've reached out to a few - and I have had a few discover my startup and reach out to me. I am sure there are exceptions but, in general, these seem to be the main boxes to check before they'll consider the next phase of the conversation.
As for accelerators - full time seems like the prominent requirement.
-How will you make money?
-Where do you see yourself and the company in 5 years time?
-What pain point are you solving? Has this been done before? Why not?
-How do you know people/businesses want to buy your product?
Thank you! I will try my best :)
Saw this on Product Hunt a few days ago - https://www.producthunt.com/posts/investor-pitch-training
It has a good collection of questions investors ask during a pitch.
Thanks! I'll learn this.
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