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Should you have a conversation or a pitch?
Personally, when I am raising funds or “pitching” anyone, I prefer to have a conversation instead of a formal pitch. This is because I know that I am good at responding and adapting in the moment to the investor/listener and making my case dynamically.
Despite my personal preference, the reality is that whether you should pitch or have a conversation comes down to your ability more than anything else.
Today I am going to go through the pros and cons of having a conversation vs pitching so that you can choose the path that is best for you.
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Why have a conversation?
Removes the power dynamic - A big reason why pitching can be so difficult is that it immediately establishes a power dynamic. Like a kid presenting before the teacher, you are giving a presentation for the listener to judge. No matter how hard we try, that reality won’t change.
Connection - During a conversation you can connect with the other person. You can allow them to talk, see what interests them and dive deeper into that part of the conversation. It gives you a chance to build a genuine connection and to “show off” your knowledge if they have an interest in your industry without being confined by the pitch or limited in the feedback you receive from the investors.
Why have a pitch?
Staying on track - It is very easy to lose your story in a conversation. You spend months preparing a story that will get investors interested. As soon as you jump into a conversation, if you don’t know how to deliver and maintain your perspective framer then your whole story will go out the door and you will be forced to invest a pitch on the fly. Keeping to a formal pitch allows you to keep those guardrails and prevents you from going off track.
If you are going to be going the route of a conversation, a few small tips:
Ask the investor about themselves (their background, how they got into venture, their interests, etc.). Take advantage of the format and learn more about them.
Understand where the VC sits in the firm and what their role is. Can they make a decision? Does it have to go to someone above them? Is there a committee they need to pitch?
Discuss past deals the investor has made. This will give them a chance to share the deals they are most proud of and give you a chance to listen closely and draw comparisons between those deals and your company.
Do you prefer a pitch or conversation? |
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📱 Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)
Onwards and Upwards,
