No VC is going to invest in something they don’t ’get’ on a really basic level.
TweetShareShare Ten minutes into the pitch, I was still scratching my head. “I just don’t get it,” I said. “I just don’t understand what this is.”
“Well, I get that you’re doing something with artificial intelligence and entertainment, but I don’t understand what specific problem you’re solving for your prospective customers,” I explained. “I don’t understand how you think they’re going to use it. And since you’re at too early a stage to have any real traction, I don’t think any VC is going to invest in something they don’t ’get’ on a really basic level.
There’s good news, though. As with many common problems founders face “in the room,” this is totally fixable. So, before you head into your next pitch, here are three of the most common ways founders go wrong with VCs in the meeting, and how you can fix them: The Fix: As you practice your pitch in front of friends and family, ask them this question: “Did I clearly explain what we do, who we do it for, and what they get out of it?”You forgot about you This one is also surprisingly common, especially among female founders. A lot of founders forget to inject themselves into the pitch. It’s simply not enough to outline why something is a tremendous business opportunity.
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