Questions you should be able to answer about your business and your product before pitching investors:
- What is your external narrative or company story and mission? The more you practice your story, the more confidence you will have when someone asks. Practice in front of the mirror. The more you state your story, the more natural it will sound. Since you’re constantly changing and growing, take time to update this narrative every 3 months or so.
- What have you accomplished while building your business thus far?
- What has to be done to reach your next milestone?
- What would you do with capital if you had it to spend tomorrow? Investors want to know that you already have a plan to spend the money. Not sure where to begin? Start by breaking it down into key hires and salaries, research and development, sales and marketing. Then go deeper and break down salaries, cost to get to prototype, cost to get to full scale production, marketing spend to acquire a customer, and branding design.
- Make a list of your accomplishments in your personal life and about your company. Read them out loud in front of a mirror. Repeatedly. Next time you’re asked, you’ll be able to confidently offer a humble brag and clearly articulate what’s coming next.