It’s a weirdly hard question to answer, especially when pitching your company. This VC turned entrepreneur learned that the hard way.
When you’re a VC, your job is like drinking from a fire hose. You have a constant stream of business plans and pitches coming at you. There’s no way to get through all of them. So you start looking for shortcuts, quick little glimmers of magic that tell you this idea is worth paying attention to. Is it an amazing management team? Proprietary technology? Exclusive contracts? Is it the first mover in a totally new space?
The magic: That’s what a VC wants to see. And yet, entrepreneurs always want to tell you everything about their business. They are excited, passionate. They’re in love. I was an investor for 12 years, and during pitches I wanted to grab these people, shake them, and scream, “Just tell me the one thing that makes your business special! It’s not that hard!”
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