How to Pitch Your Startup to Investors
You are, of course, the first entrepreneur to ever pitch to a venture investor.
This makes things simple: no bar has been set, so your pitch won't need to stand out.
First, when pitching to investors, never, ever open by introducing yourself, or humblebragging your accomplishments.
By the way, I almost forgot, my name is Dave Balter.
I've founded and run eight companies, raised nearly $100M, exited a few, served on billion-dollar executive teams, currently run an AI business, and am a venture partner at True Ventures.
This I'm bragging to you, humbly.
You're probably wondering if you should use AI to make your presentation - and whether this presentation was made with AI.
A better question is whether we're in a simulation, and whether the simulation offers AI presentation software.
The answer is obvious: Stop asking stupid questions.
For heaven's sake, you should never, ever get this far into a pitch without explaining your BIG IDEA.
That would be insane.
Your BIG IDEA should be both logical and weird.
It should be something someone can understand, but also something they can't possibly.
It should feel edgy, but totally normal, but never too balanced.
A BIG IDEA needs to polarize.
When an investor says, "I have absolutely no idea what you're talking about," you are winning, you just don't know it yet
(they don't know it either, but that's just effective gaslighting).
In a pitch, remember the importance of numbers because, it is very hard to raise by pitching letters.
I swear, I've tried it, believe me. Don't bother.
Unless...
Wait...
what if...
Your BIG IDEA is to turn numbers into letters?
BIG IDEA: Using nano-particlization, we have made a teleportation factory which turns 9s into Bs.
That's right, if every 9 became a B, no one would need 9s anymore.
(At this point, investors will already be doing the math on optimizing the dwindling 9 supply chain, which is where the real money is.)
(They'll also be hoping you eventually pivot.)
Is this idea polarizing to you?
Ok good, will you give me money for it?
(see how this works?)
Thank you for staring at your phones during this presentation, because this is the portion we call leading by example.
This is also immersive learning because the investor you're pitching may be taking two pitches at the exact same time.
Now that I have your partial attention, let's get down to business,
The only thing that matters in pitching is: hacking momentum.
It's not the size of the pitch, but the ability for investors to feel 'late' that matters.
Let's practice:
You: (opening your pitch)
Hi, my name is...
(How are we doing so far?)
Investor: (mutes other pitch):
Wow, I've always hated 9s and avoid them at all costs. How much money are you raising?
You:
We're over-expecting to be oversubscribed.
Investor:
Really? (leans in)
You:
Yes, I have an unconfirmed call later today about a term sheet no one has offered.
Let's make a list, because this helps the audience know how much longer this presentation might go on.
Here are the 80 obvious rules for pitching to an investor:
1. Manage your clock.
Your pitch must be under twenty minutes without interruption.
2. Raising is theatre.
Imagine your entire fundraise as a short run on Broadway.
Every investor gets the story in a two-week sprint.
Pace can matter almost as much as the concept.
3. Beware of the S.H.I.T.S.: Sound Highly Interested Then Stall.
Investors are good at asking questions, don't confuse them with interest.
After a pitch, silence is usually a no - and that's ok.
4. Yes, use AI to make your pitch excellent.
You gain nothing by being a human purist.
But read everything and goddamn it, give it your voice.
5. YOU are everything.
Investors like ideas, but they invest in protagonists - and in the people who vouch for them, introduce them, and surround them.
Ok, only 75 more to go.
You ready?
Actually, let's save those for the follow-up.
Call me when you're interested in 9s, and maybe 8s once we franchise.
Which is the exact point: always leave them wanting something more than they actually got.
Questions?
