In the end, most founders have to remove venture capital investments to earn capital. Tiffany Luck, a partner NeaYour step at Techcrunch’s All Stage event in Boston to answer how to make perfect.
“I like to think of the VC tune height as the original way of assessing the fitness of the founder investor,” he told the public before diving into the performance. One of the most important slides in the field is “what”, “he said,” “what” you build “. This is followed by “why” you are the right person to work and why you have a unique solution. But there is another reason: ” Why ‘is now the perfect time to do it. “
Then there is “who” He continued: “Who Have you recruited to do this crazy thing? “And finally,” how “.
“How Are you going to get there? How do you get there today? How do you get there over time? “He said.
Then, of course, he added “some number”, saying that some depends on which state the company is trying to collect seeds, series A and so on. “These are only intended as thorough grounds.”
Placement
As Onni explained, “what” sets the step and tells the investor what a problem is, how it affects people who are followed by solutions today and where there is room for interference.
Presentation of the product presentation “What” is a good idea, he said, and that many investors love productors. “If you think the picture is worth 100 words, I think the demo is 1000 hours,” he said. “When you see the product you get it really fast.”
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Happiness said that every founder should deal with two different “what”. First of all, it is deeper why, where the founder goes to their origin story and explains their unique perspective to the solution.
He said that obsession was key, and added that investors want to see and understand that the founder is consuming completely a problem and a solution. This passion keeps everyone motivated to continue construction, he said.
After that, there is “why now”, which means the shift in market dynamics and readiness.
“It tells the story why the market is ready for what you have or what you build,” he said.
Why now a “Who” where the founder is expected to talk about the team he has assembled, how everyone’s skills complement each other and why everyone is obsessed with the task of the product.
“A shared conviction is really important,” Luck said. “It’s” How do you all imagine the future together? “
“How” is where the founder is meant to talk about “milestones”.
Here he said that investors want to know what is the minimum product (MVP)? Who are early users? And what feedback do you get from them so far?
“And explain again where are you today. Where are you going? What have you learned?” He asked and listed the questions.
Talking about turning when needed is also good here.
Onni stated that he often speaks to the founders who turned early or at some point in his journey. It helps investors learn more about the early stages of the company, “where to go without going, and it will help during the rest of the trip,” he said.
For the love of numbers
Finally, he weighed the significance of the numbers.
“Investors love numbers,” he said. “I think most important numbers are also related to storytelling.” Here investors want to know about the size of the market and all products. “Why do customers love this product? Why do you imagine it not only grows, but grows sustainably in a way that has a great storage?”
He wants to see the company talk about how much money it burns and what the runway looks like. However, the most important thing is ask: How much does the founder want to raise this round and what they do with money.
All together who, what, how, and (two) whys act as a starting point, helping the founders as they go on an entrepreneurial trip.
“Starting a business is like an extreme sports,” he said by comparing it especially with Everest climbing. “You’re going on milestones, different camps. Points of challenges, weather storms, and you finally know that you will eventually try to get to the top, the summit.”
