If the Shoe Fits: Pitching Familiarity Blindness
by Miki SaxonA Friday series exploring Startups and the people who make them go. Read all If the Shoe Fits posts here
Yesterday we looked at content problems associated with over-familiarity with your products/services and that same over-familiarity can weaken your investor pitch.
Investors are similar to customers in terms of what they want to know—the difference is viewpoint.
- Where customers want to know what your product/service will do to solve their problem, investors want to know how many have the problem, in other words, how large is the market.
- Customers don’t care about your technology/IP; neither do investors other than to be sure that it is unique and protected, i.e., patented or, at least, patent pending.
- Customers love it when you save them something—money, time, effort—investors love it when you make them something— money.
These days investors are far more focused on “how will you make money,” as opposed to “how will you acquire users.”
This is especially true if you are pitching a web service.
Bottom line; talk tech to the people you hang with, talk money and market to your investors.
Image credit: HikingArtist