The first thing founders should do when they think they're ready to fundraise is lock down the narrative of their startup.
I specifically start with the narrative and not a pitch deck because investors invest in (and employees join, and journalists write about) compelling stories.
The best tip I ever got on narratives was from @spakhm that every major story in human history follows this same arc:
- The world is a certain way
- Something changes
- The world is now different
May seem obvious but that’s what makes it effective - and memorable.
- The world is a certain way
- Something changes
- The world is now different
May seem obvious but that’s what makes it effective - and memorable.
Your narrative should follow this same story arc.
- The world is a certain way (problem).
- Something changes (solution).
- The world is now different (traction).
Anything that doesn’t support one of these three points I would leave out.
- The world is a certain way (problem).
- Something changes (solution).
- The world is now different (traction).
Anything that doesn’t support one of these three points I would leave out.
With a powerful narrative, you should be able to have a conversation with someone who knows nothing about your industry and convince them that your company is the next big thing.
Remember: VCs are trying to find the next multi-billion dollar company. Frame your narrative within the biggest vision that you actually believe in. bit.ly/2s3CABv
