Thread by @epaley

I recently tweeted that when pitching:

“Launch right into the biggest statement you can make about your company's impact in the future.”

https://twitter.com/epaley/status/1104100920307208196

A few more thoughts on pitching the big idea:

1/13

Three masons on a job site were asked about what they were doing.
Each answered differently:

🧱 One said “I'm laying brick”

🏗️ The next “I'm putting up a wall”

⛪️ The last “I'm building a cathedral”

This parable about perspective is instructive to startups.

Because:

2/13

The telling of your story will have a massive impact on whether you can inspire people. It will influence everything from the valuation you command to the caliber of talent you can recruit.

3/13

But storytelling is hard.

When pitching, talk too much about plans to change the world, and investors might dismiss you as, “a dreamer who won’t build anything substantial.”

But, if you veer too far to the practical, investors will say, “I don’t see a big opportunity.”

4/13

Surprisingly, many solid founders struggle to tell the big story.

As they grow, startups often lack the time to sit back and imagine the biggest potential end state for their company. They have a general sense about how to scale, but often don’t have a crisp narrative.

5/13

They’re so focused on landing the next customer or scaling the team that they lose the plot. Immediate tactical concerns subsume the raison d'être. understandably, they are more focused on how to execute the next year than the next ten.

6/13

This isn’t just an aesthetic failing.

A mediocre story can cost a startup tens of millions in valuation or even sales.

Stronger stories lead to more generous valuations, quicker customer closes, better press, easier recruiting, & a treasure trove of intangible benefits.

7/13

So how do you make your tech startup feel transcendent? How do you make SaaS software sublime?

8/13

❓Ask Why. Again. And again.

Why do you believe so deeply? Why will it matter in a big way? Why can't you be the biggest company in your space? Ask until you have convincing answers. “The Five Whys” is good for break through mental blocks. en.wikipedia.org/wiki/5_Whys

9/13

🔗 Use proxies

If you struggle to brainstorm a story, borrow one. Avoid cliché comparisons like, “We’re Uber for X,” but if there’s a company you hold up as an exemplar, share it. Comparisons make it easier for audiences to dream.

10/13

⚰️ Think of your (startup’s) death

If your company died prematurely and someone was trying to put the most generous gloss on why it’s a tragedy, what could they say about its unfulfilled potential?

11/13

One word of warning — don’t exaggerate for investors. It's tempting to tell a big story that VCs want to hear, but the story is also a promise to which you’ll be held. You need to be audacious, but can’t be inauthentic. It’s easy to get carried away and lose credibility.

12/13

So what’s what’s the big(gest) idea animating your startup?

It’s the narrative that energizes founders, inspires investors, lures recruits, gets you ink, closes customers, and propels startups — build a cathedral ⛪️ !

13/13 #CollectiveWisdom