Welcome back, deep divers.
Today we're doing something a little different.
Oh, I like different.
Let's hear it.
You ready to unpack some serious startup knowledge?
Always.
What do we got?
So you know how you're always sending me
these fascinating articles and podcasts?
Yeah, can't help myself.
There's so much good stuff out there.
Well, today we're diving deep into one you shared.
It's called Chasing the Top.
Oh, yeah, that one's packed with insights.
What specifically caught your eye?
Well, it really got me thinking about how we approach
getting that startup funding.
For sure, it's a make or break stage for so many companies.
And this podcast had a really interesting take.
They're saying that a perfect pitch
might be the worst thing you can do.
Whoa, OK, hold on.
That sounds a little counterintuitive.
Wouldn't investors want to see a polished,
well-rehearsed presentation?
Data?
Projections?
You'd think, right?
Yeah.
But they actually argue that investors are craving
something much more real.
More human, maybe.
Exactly.
They even told this story about.
Wait, before you get to the story,
could you unpack that a bit?
What do you mean by real?
OK, so think about it.
We're all human, right?
And humans connect with stories.
We connect with emotions.
Right, the stories that stick with us,
they're the ones that make us feel something.
Exactly.
And investors are no different.
They want to see that fire in your eyes,
that genuine passion, not just a bunch of numbers on a screen.
So it's about the founder's passion,
their commitment to solving a problem, and not just chasing
trends or profits.
Exactly.
OK, so we've established we're not robots.
But what are investors really looking for beyond just passion?
How do you prove that you're not just another dreamer?
Well, that's where proof of concept comes in, right?
Ah, yeah.
Like that story about Uber's early days.
They weren't this global giant from day one.
Exactly.
They started small, just a handful of cars in one city,
proving the idea actually worked.
Classic proof of concept.
It's not about having all the answers right away,
but showing you can figure it out as you go.
And you know what that shows an investor?
It shows that the founders got that grit, that ability
to adapt and learn.
That's gold to an investor.
It's way more valuable than a flawless pitch deck.
So we've got the passion, the proof,
but now you need the actual money, right?
And this podcast really emphasized
finding the right investors.
Right, not just anyone with a checkbook.
You want people who really get T your vision.
Like they used OpenAI as an example.
They knew their mission was complex,
potentially world changing.
Exactly.
They needed someone who understood the long game,
not just a quick profit.
It makes you think, how do you actually find
those perfectly aligned investors?
It's not like there's a matchmaking service
for startups and VCs.
Well, there might not be an app yet.
Yeah.
But there are ways to be strategic about it.
Absolutely.
Research is key.
Look at their portfolios, their past investments.
Understand what they're drawn to.
So it's like, are they all about those quick returns?
Or are they backing companies that are trying
to make a real difference?
Exactly.
And networking, good old fashioned networking.
Get out there, build relationships.
You never know who might connect you
with the perfect investor.
Okay, now here's where it gets a little mind bending.
The podcast talks about thinking both big and small
at the same time.
Yeah, that caught my attention too.
How can you do both?
It's like balancing that grand vision
with the nitty gritty step by step plan.
That's where storytelling comes in.
Ooh, tell me more about the storytelling angle.
How do you make investors feel both the ambition
and D, see the practical steps?
Well, that's exactly what we'll be diving into next time.
Can't wait.
It's getting good.
It's funny.
We always think about pitching as this super rational thing.
Yeah, like all about the numbers, the projections.
But this podcast, it really highlights the emotional side.
Yeah, they keep saying investors are looking
for that real stuff, like the story behind the story.
And that's where I think vulnerability comes in.
Ooh, interesting.
Tell me more.
Well, think about it.
Are you more likely to invest in someone
who's like everything's perfect, trust me?
No way.
You wanna see they've learned from their mistakes.
Exactly.
Being willing to share those challenges,
the doubts, even the failures.
Which is scary.
You're putting yourself out there.
It takes courage for sure.
But it also builds trust, don't you think?
Totally.
Right.
Now, if they can overcome that,
imagine what they can do with the right support.
It's counterintuitive, but showing those struggles
can actually make you stronger.
And for an investor, that resilience is huge, E.
Shows you're not gonna crumble when things get tough,
which they inevitably will.
Okay, so it's not about pretending everything's perfect.
It's about being real, being authentic.
And that goes for how you present your vision, too.
Okay, yeah.
Not just the what, but the why.
Exactly.
This podcast talked about the importance of articulating
your impact on the world.
Because investors, they wanna be part of something bigger,
right?
At the end of the day, yeah.
They wanna feel like their money is making a difference.
So if you can tap into that, that's shared sense of purpose.
It creates a much stronger connection,
a more compelling case for investment.
They even had this advice about tailoring your pitch
to each specific investor.
Oh yeah, like do your research.
Understand what they care about.
Show them why they're the perfect partner for you.
It's like finding your tribe.
Those people who just get it.
And that shared belief, that's where the magic happens.
When your investors are as passionate
about the mission as you are,
that's when you can really achieve incredible things.
So to recap, we've talked about authenticity,
vulnerability, finding those aligned investors.
And now the question is,
how do we actually put all this into practice?
Ooh, good question.
Luckily, this podcast dies into some specific tactics.
Tactics for crafting a killer pitch,
navigating the world of funding.
Which is perfect,
because that's exactly where we're headed next.
All right, deep divers, we're back,
ready for the final part of our startup funding journey.
Let's do it.
I'm ready to put all this knowledge into action.
We've talked about the importance of authenticity,
vulnerability, finding those investors
who really align with your vision.
Great, but how do we actually package all of that
into a pitch that's gonna blow them away?
Exactly, and luckily,
chasing the top gave us some really concrete tips,
like they talked a lot about storytelling.
Ah, yes.
A good pitch is like a good story, right?
It needs to grab you from the start.
Totally, they actually called it the hook.
What makes an investor set up and take notice right away?
Well, it doesn't have to be some crazy stunt.
Sometimes the simplest things are the most effective.
Give me some examples.
What kind of hooks really work?
It could be a personal story, a shocking statistic,
even a question that gets them thinking.
So it's about making them care, peeking their curiosity.
Right, but remember, you're not just pitching an idea,
you're pitching a solution, a way to make a real impact.
And once you've got their attention,
you've gotta lay the foundation.
Yeah, you have to explain the problem you're solving,
and not just like, this is a problem.
You've gotta make them feel it, right?
The agency, the importance.
Exactly, and then you come in with your solution.
What makes your startup unique?
How are you different from everyone else?
This is where that passion really shines through.
For sure, but you also have to be clear
about the business side of things.
How are you gonna make money?
Right, no one wants to be bombarded
with technical jargon, they don't understand.
Keep it simple, relatable, and yeah,
always tell a good story.
Oh, and data, don't forget the data.
Absolutely, numbers matter.
Show them you're not just talking the talk,
you're walking the walk.
User growth, revenue, anything that proves
you're on the right track.
Because those quantifiable results,
they build credibility.
Right, shows investors you're actually delivering,
not just making promises.
And finally, don't forget the call to action.
Yeah, what do you want the investor to do
after hearing your pitch?
Don't be afraid to ask.
So to recap, it's all about that hook.
Laying out the problem and your unique solution,
showing them the data.
And ending with a clear call to action,
but beyond all the tactics,
I think the most important thing is.
What's that?
Belief.
You have to truly believe in what you're doing.
Yeah, that passion is contagious.
If you believe it, they'll believe it too.
So as we wrap up this deep dive,
here's a thought for all of you out there.
Think about a company you admire.
What's their story?
And what kind of investor do you think
was the perfect fit for them early on?
That's a great question.
It really highlights how important alignment is
between a company and their investors.
Thanks for joining us.
We hope you enjoyed this exploration
into the world of startup funding.
Until next time, keep learning, keep exploring,
and keep diving deep.