Focus on explaining the problem. Investor has to recognize it is a problem worth solving. Explain with an analogy/anecdote. Understand at what level the person you are talking to understands your space. Solution is less important. “Communicate clearly and adjust depending on the situation”
Investors love to hear about your background and how you evolved to become a founder. They look for the chemistry between founders.
Create a process – who to speak to, when, why, etc. Dedicate yourself to it. Create a spreadsheet with schedule and probability of success. Track conversations/results. Find balance between a hyper-critical investor and an all-is-well investor.
Raising too much too fast will hurt the company. Identify the milestones and the runway you need to meet them and go from there.
Find what GREAT is and means. Investors love to see you rub shoulders with other successful founders/investors/leaders. Personal connections and network matters. Find a sparring partner and not a best friend who doesn’t challenge you enough.
Avoid investors who are too involved and those that are not involved at all. Do not take office space in your investor’s building. You need room to grow and not someone overseeing you.
Can you take a big hairy problem and break it down into simple smaller problems? Condensing is a skill.
Tip 1: Lead Investor
Investors care more about who else is investing than the business plan and team. So, don’t go broad until you have a lead investor lined up.
Tip 2: Set a deadline
Deadline keeps the momentum going and keeps you running towards closing the fund raise.