I have raised more than £60,000,000 for 150+ companies. My best advice? Own your own truth.
After reading thousands of pitch decks, my overwhelming advice to founders is to "own it". If an investor is reading your deck and you have decided to omit your revenue figures, they will likely not probe deeper. Investors look for reasons not to invest. It is best to present the fairest, clearest and non-misleading version of yourself.
Failure taught me this
Failure is the reason I have achieved so much. After my VC-funded business died in 2018, I hit rock bottom. I was ashamed and embarrassed. Not only did I lose the business I loved, I also lost investment from my family and friends. I worked in silence, rebuilding myself, until I felt comfortable owning my own truth.
Now this is my biggest USP when delivering consultancy. You can choose a founder who has raised VC funding, lost the business and dealt with everything that comes with that, or someone who has read funding theory from a book or, worse, from social media posts. Empathy and humility always win.
Create comfort around the awkward facts
- Is your revenue £0? If so, why? Create comfort around this.
- Are you part-time in the business? If so, why? Create comfort around this.
- Did you miss your marketing targets? If so, why? Create comfort around this.
Let's normalise being honest in business and making sure you represent your business accurately. You are not alone.