The more you say, the more fodder there is for doubt, so be clear and concise with your pitch and your answers.
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- Investors generally want to put money behind people just as much as their ideas. They often look for a confident, strategic leader who knows exactly what they’re aiming to accomplish and what they need to do to make it happen. Nail down the specifics of the market for your product or service, how far the business can feasibly go (be optimistic), the steps you’ll take to get it there and why you and your team are the best people to make it happen.
- Avoid over-explaining or over-answering questions. The more you say, the more fodder there is for doubt, so be clear and concise with your pitch and your answers.
- Sit down with your company’s financial statements and projections and have someone clarify every section you don’t understand — until you can confidently explain it all. You need to be able to clearly lay out how investors’ money will be used, the approximate returns and which financial levers you’ll need to pull in order to grow your company.
For more tips, check out Entrepreneur‘s article on women entrepreneurs and VC funding.