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- ♞ Why is an active story important?
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Why is an active story important?
One of the biggest pieces of advice that I have for founders is to use an active tone and always have an active story when pitching. This means that you aren’t pitching yourself as starting from zero and needing funds to get going but instead taking time in your pitch to explain what you have accomplished so far.
Many founders disagree with this advice, as they believe that what they will accomplish with the money, along with their long-term vision and goals, seems more impressive than anything they have done in the past.
It also puts founders at a disadvantage if they haven’t done much in the past. The reality is that there are numerous reasons that an active story is important. The most important one from a pitching perspective is that investors like to jump on a moving train not be responsible for getting it going. It’s a lot easier for them to see where you are going if they see where you are coming from.
But there is another reason that I don’t tend to talk about but I do want to address today.
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Most winners are winners from the start. This is a hard truth about startups that nobody likes to admit.
We always hear stories about companies that pivot or founders who take a unique approach to building something and struggle through hard times before their efforts pay off. We hear those stories so often that we might think they are the status quo.
The reality is that most successful companies are successful from the moment they launch. From Instagram to Snapchat, Facebook, Uber, Microsoft, Google, etc, these companies were winners from Day 1.
An active story is important because investors often want to see that you’ve been winning and will continue winning. This is the hard truth that nobody likes to hear, but if you have been struggling and haven’t seen the market adoption you hoped for, you are facing a massive uphill battle,, and your chances of success are significantly lower than those of someone who found product-market fit immediately.
Did you find product/market fit within a few months of launching? |
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Onwards and Upwards,
