Investors don’t care about your product. not really.
Investors think very well When thinking about investing, talk about many things: How big is the market? How good is the founder-market fit? Is it venture-sized?
It’s natural for founders to huff and puff about their customers and their product, but the dirty little secret of fundraising is that your investors are more likely to care about your product. And they have a few legitimate reasons for being so.
Too often I’ve seen product-focused founders spend too much time thinking about the solution they’re building. This makes sense. In the context of building a great product, founders are creating an investment flow that reflects their daily lives. They spend a lot of time on their product: talking to customers, working with engineering, and trying to slice the marketing pie in a meaningful way.
So when a founder talks to their investors, the investors should be careful about the product, right?