All the confidence in the world won't convince a VC these statements are true. Here's why these 10 fibs hurt you -- and what to say instead.
Serial entrepreneur and VC Guy Kawasaki recently wrote a post listing the 10 lies entrepreneurs tell investors. These are classic lines that he hears in virtually every company pitch he sits through. I've added my own analysis below as to how they translate to investors' ears:
Such lies, whether intended to be or not, are proof that you're unrealistic and may not have the experience to succeed. When you're trying to sell an investor on your start-up, assume that they've heard anything you could say a thousand times before.
Kawasaki's advice is to at least tell investors new lies. You could say that he's jaded, but that reaction is indicative of how thoroughly and often entrepreneurs fool themselves.
You don't need to make up new lies. Try these 10 alternatives that will make you stand apart and appear competent and business-like:
There's no guarantee that this approach will win over every investor, but it will make you stand out from the crowd. Plus, pulling together the information will make you think your business over in a new way, and that's always a positive experience.
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