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When and how did you start pitching?

When did you start pitching your business idea? Did you already have a proof of concept? Traction?

Did you have a deck? Something else?

Were you looking for investment? Or just feedback?

Who did you pitch to? Friends? Colleagues? Investors?
Did you join pitching 'open mics' or groups?

I'd love to hear people's experience around here :) I'd like to start pitching my idea in the open but I'm only seeing businesses that are already trading, have found tractions and are looking for investment to grow

on April 16, 2023
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    I think it depends on how you view startups and funding.

    Some just want to raise, so they'll polish everything and juice their numbers so that they can raise. If this is you, then I think you'll have to perfect your pitch. Think of it like standup comedy – the only way to get better is to just do it.

    Some raise because they have something working and they need money to accelerate growth. If this is you, then your numbers will speak for itself and you don't need as good of a pitch. For example, if you're growing MRR 10% every month for the last 2 years and have high NPS.

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      That makes a lot of sense, thank you!

      I'd love to see more of the former type of pitches and get a sense for how much BS is standard. Numbers can't possibly be right at that stage

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        This is just what I hear from friends that have tried to raise:

        • If you don't have good numbers you instead highlight the large opportunity and try give investors FOMO.
        • However, if investors do due diligence then they'll obviously catch your bad numbers and things will fall apart.
        • There is an acceptable level of BS. For example, you can show a growth in signups because that graph looks good. If investors are smart they'd ask for your cohort retention numbers.
        • Keep in mind that some investors will invest in a team, which means you can get away with more bad numbers.