I've looked at 30k+ pitches, and when ppl have asked me in the past which one stood out the most, I've never had a great answer.

But today I do. A short thread >>
1) But first -- to be clear, you do NOT need a super creative / unusual incredible pitch to get funding.

A simple deck that is clear and concise will do!

More on that here: elizabethyin.com/2016/07/10/wha…
2) So what was the pitch that really stood out?

It was a new book publishing product called Tales:
taleswriter.com

They created a story for me on what they did in a fun & easy way to read. And personalized it.
3) This is what they sent me:
4) In the story, they talked about what Tales was trying to achieve w their mission & business.

You could double click into subplots around aspects of their business -- from the business model to the product etc. (Pretty meta to learn about the product within the product)
5) The story also showed they had done their homework on @HustleFundVC & what we believe in & how they tie into that.

They talked about removing gatekeepers in publishing and increasing access to more aspiring writers.

And, the "bad guy" in the story was a stodgy VC!
6) Lastly, like a "typical pitch", they talked about key pts that are interesting about the business in the story.

Traction / notable partners they have brought in to date. Experiments they've done w/ unit economics and initial set of users. Etc...
7) It was a great all-around blend of pitching the business in the product. It was informative & creative. It was unique & clever.

If your product / company doesn't have natural ties to a pitch, don't worry about it.

But if you do, a bit of creativity can make you stand out.
8) And yes! I did offer to invest :)

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More from @dunkhippo33

19 Apr
This is a good question -- what goes into a good go-to-market strategy?

Especially at pre-seed when there's nothing there?

Read on >>
1) Even though you may not have any / much traction at pre-seed, your go-to-market strategy has to be solid when you pitch. But nevermind investors -- even just for your own plan, it should be solid.

There are 2 components:
-qualitative
-quantitative
2) Qualitatively, you must do the legwork to understand your customer persona.

Who is your target demographic? What is your target customer's specific problem? Why? What does a day-in-a-life look like for this person? How does this person currently solve this problem today?
Read 14 tweets
8 Apr
Today's tweet thread is about how LPs (fund investors) make money (or don't) by investing into funds.

When do they send the money to the fund? When do they get money back? What are the fees ppl should be aware of?

thx @zsilvs303 for the topic!

Read on >>
1) First off - what is an LP? A limited partner is an investor in a fund.

@HustleFundVC for example, we have raised money from individuals, families, companies, and fund-of-funds. This is the money we use to invest in startups.

They are our LPs.
2) Next, what is the process to becoming an LP in a fund?

Today almost all US funds (if not all) require LPs to be at least accredited investors in order to invest. ($1m+ in assets or $200k/yr in salary)

A VC fund $10m+ can have 99 LPs max. Under that, 250 LPs is the limit.
Read 26 tweets
8 Apr
Today's tweet storm is on the strategy for testing customer acquisition channels.

Should you try a lot of channels? Should you try to make them all work? Which ones do you double down on? What happens if they stop working?

Read on >>
1) Yesterday I referenced a conversation w a portfolio co that is seeing great results w 1 cust acq channel.

Today I had a call w them about this strategy as well as what to do about their other cust acq channels.

2) At a high level, the most *ideal* situation is that you have just 1 customer acquisition method & channel. 1 playbook. People specialize & focus on the same thing day in & out.

That's the ideal. It doesn't work out that way, but that's what you hope will happen.

Why?
Read 24 tweets
7 Apr
PSA: If you are looking for your first shot of the Moderna COVID-19 vaccine, here's one way to get it

Note: no restrictions on pre-existing conditions or age brackets or citizenship

Read on >>
1) Some counties in Texas have a TON of extra doses but not enough people to vaccinate.

If you're willing to go to Lumberton (population 11k) which is < 2 hours drive from Houston is taking walk-ins for 18+ yrs old
2) At the Journey Community Church

1534 Highway 96 South
Lumberton, Texas

1:00PM – 4:00PM, on Wednesday, April 7 thru Friday, April 9.

Only a certain # of ppl can be inside the clinic at a time, so if too many arrive at one time, they may have to wait outside
Read 7 tweets
7 Apr
Today I was talking with a @HustleFundVC portfolio founder about how aggressive they should be with customer acquisition spend.

What customer acquisition cost (CAC) should they aim for? Payback period?

A thread on this topic >>
1) First off, I think a lot of founders think about what number they should aim for for their CAC.

I think this is the WRONG way to think about it. There's no holy grail number. But there are good and bad ways to think about CAC.
2) At a high level, your CAC must ALWAYS be less than your lifetime value (LTV) at scale - in order to have a real business!

The problem for startups is that you often don't know what that lifetime value is, so it's a moving target of what your best guess is. Refine as you go.
Read 14 tweets
4 Apr
Sometimes it’s fun to look back at what I wrote about the fundraising landscape of just a couple yrs ago and see what has changed.

A reflection on the fundraising landscape in the past 3 yrs >>
1) I wrote about ICOs, SAFEs, and crowdfunding in 2018 and my hopes for how it would evolve and change:

elizabethyin.com/2018/01/24/wha…
2) At the time ICOs were hot! Super easy for companies to raise.

I think today’s “regular SAFE” fundraising is like the ICO market of early 2018.
Read 14 tweets

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