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- ♞ Importance of Team Pre-Series A
Why is your team so important to investors?
For many pre-seed/seed-stage companies, pitching their business with the active tone I promote, telling a captivating story about how your company is the hero in an epic against a horrible villainous problem destroying humanity is difficult to do because you honestly haven’t accomplished anything.
No matter the story you tell, if you have no traction, no results, nothing to evidence what you are saying, investors will come crashing down to earth, and you’ll likely fail to raise.
This is where your team comes in.
If pitched correctly, building your team (like assembling the Avengers) can be the first step toward success for your business. Being able to present your team in this manner when you have no traditional traction can be the key to raising.
Here are some tips on how to do that:
Focus on your team’s real-life successes - Many founders fill their team slide with university degrees from no-name schools and jobs from unrecognizable companies. Instead of having your team side read like a resume, focus on why this team is the right fit for the job. Focus on the business success they had had (have they exited a company before? raised funds?), focus on relevant education (are they an MD for your biotech startup?) and finally, showcase their skills. It is much more valuable for an investor to know that your CMO ran marketing campaigns with a 200% ROI for the last 3 years than to know their last job title.
Recruit - Don’t fill your team with applicants, fill them with recruits. The best people from the job likely already have other opportunities. You want to find these people and aggressively pursue them. If you can show investors that you have convinced talented people to dedicate their lives to your cause investors are more likely to dedicate their money.
Do you have a strong team? |
Are you looking to grow your business? Here is how I can help:
📱 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,
