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Don’t Bother Pitching Investors Unless …

I’ve seen a lot of pitches and heard a lot of investors evaluate them either during the pitch or privately after the fact. Here are 6 ducks you’ll want to have in a row.

1. You have something to pitch.
Make some sort of traction first. Don’t pitch a dream or fairy tale. Why would someone help you move your business forward if you haven’t already started moving it forward yourself?

2. You know your market, product, and technology inside and out.
My friends at 1517 Fund call this hyperfluency. You can assume that any professional investor already knows a fair amount about your market before you meet them.

3. That includes knowing your competitors.
I’ll never forget watching an investor googling during an impromptu pitch and interrupting the founder to ask about some close competitors the founder didn’t even know existed. Oops.

4. You know your unit economics.
It is all about making a return, after all. Facts talk. Wishes walk.

5. You have a clear bottom-up view of a market size large enough to provide that investor a return.
Their investment is about their economics, not yours. An investment of any size will require a large potential return, which in turn will require a large enough market to achieve that return.

6. You have a team lined up to accomplish what you say you will.
“We can hire somebody for that later on.” isn’t a good answer. Be real. Even if you haven’t hired them yet, know the experienced people who are willing to join you. Don’t ask investors to bet on a wing and a prayer.

Yeah, I know there are many more basics or essentials that others of you will have seen or experienced. But these 6 as a quick starter will get you far.

For more ways to help your startup be successful, grab my ebook Be Your Own Startup Coach today.