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Friday, 3 March 2017

March Pitchery

10 things we learnt/were reminded about pitching to angels this week

  1. there is no 'right' pitch style: some may be rammed with content but the founder talks too much and gives long answers to every question, while another leaves a lot out but keeps the proposition simple and leaves masses of time for Q&A AND gives quick answers, so lots of angels get to talk - which would get you best connected to the business, would you prefer, on which side?
  2. sometimes a widget is the main story; what's the IP story, can it be hacked, how long before the large customer/competitor copies what looks like a simple model, or will they just acquire rather than build (most do!)?
  3. why is the firm paying its founders so much this early and need so many full time employees? 
  4. is it too early for this firm to be looking at a Series A next time, or why are they back for a relatively small top-up at this point?
  5. the apparently weakest proposition (to this angel) may have the most stellar supporters and the highest valuation; do you go with your gut, or follow the money?
  6. how much time and value is that silicon valley trophy VC really bringing - are they cosmetic or materially adding value to the business?
  7. follow-ons sometimes seem to be losing momentum as they grow; how do you help them up to the next level?; is it just money, or is there something else missing; is that nagging doubt about the diversified focus or marketing to sales conversion rate going to trip them up ultimately?
  8. where are the marketer founders?
  9. dont sweat every question at the pitch session; get the main issues into the early stage due diligence instead, the story has a way to run before anyone sees even a first draft SHA..
  10. pitch sessions are fun, sociable and highly addictive!
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