Whoa, there, founder. Don’t pitch until you’re ready.
Most founders can’t wait to tell the world about what they’ve built. But there’s an art to pitching and there’s a time for every pitch.
When it comes to pitching, the rule of thumb is that you have to have something the funder or the journalist can try and use. You can’t pitch an idea, especially to a journalist, and you can’t pitch a canned demo or deck, especially to a VC.
Journalists want to write about things that can help their readers immediately. Never pitch a half-finished product or even expect interest in something that doesn’t work. This may be frustrating – a real chicken and egg problem – but ultimately having something people can use and sign up for is far superior to offering a pitch deck.
With VCs, it’s even harder. VCs invest in businesses. While they may claim to support innovation, most of them support cold cash. This means when you pitch a VC you are pitching a business that they can buy a part of, not an idea that they can help germinate.
None of these are hard and fast rules, but they are generally what we recommend when it comes to talking to the media or investors: always have a product.
Need more with your pitch? Check out our Pitch Pack including pitch deck edit, 45 minutes of pitch coaching, and pitch strategy. Contact us to schedule.