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Nailing your Ask
The ask is the slide on your deck (generally the 2nd to last) where you ask investors for a specific amount of money.
Generally, I see founders doing this quite timidly. They aim to gloss over this slide because people naturally feel insecure when asking for money. This slide is where you will have the lowest social status. Nobody likes asking for money, and nobody likes being asked for money.
The reality is, however, that if you do this slide correctly, you can turn it from an awkward slide to a powerful one. Let’s look at how to nail this slide…
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Give a clear ask and valuation - Founders who don’t have a specific ask and valuation tend to struggle because it shows a lack of confidence, planning and understanding. If you control your business, you need to know exactly what your company needs and what it is worth. You might need to negotiate, but have a clear starting point on your slide.
Use of funds - You need to show precisely how the funds will be used. Knowing where the funds will go gives investors confidence that you have a strategy for spending their funds.
Clear Milestones - Tell investors precisely what they will get for the investments. Many founders pitch long-term or short-term visions but don’t tell investors exactly what they will get for their money. Tell them the milestones you will hit with this funding and what that will allow you to do (raise another round, go public, government grants, etc.)
Have you nailed your ask? |
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Onwards and Upwards,
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