Startup Turkey had an interesting panel of investors who gave us insight about what investors look for, how they invest in Turkey and other developing markets, the opportunities they see and the common mistakes of startups. You can read here what they look for in a team of entrepreneurs and some advice on how to match better those criteria. If you are interested in learning more about what goes on in the mind of an investor you can watch the video of the full session at the end of this article.
As we all know team and traction are usual factors that will get the investors interested in what you are doing. But maybe you don’t realise how much the motivation of the team makes a difference. An extremely motivated team not only focused on the profits they can make but rather on what they are doing has a better chance to get the investors’ attention. The team members should know the investors they are pitching to and know what they are looking for to adapt their pitch. The founders have to be genuine and have this tendency to get things done. They need to absorb information fast. For the investors, the execution risk will depend on the team so keep in mind that a good team – bad product combination is always more likely to succeed than a bad team with a good product because there always can be a plan B if they have the will to make it work.
To end this post here is some of the advice the investors gave about pitching:
The quality of the pitches is getting better and better because of all the information available online but there is still a lack of formats. Startups should take better advantage of the frameworks and know exactly what they are selling. Announcing your valuation is not a good idea. And if you are at a seed stage don’t only ask for money but also the investors’ networks and other valuable non-financial advantages they can bring to your business.[embed]https://vimeo.com/158634675[/embed]]]>