∞Direct answer
Direct answer
Use a first talk to make the firm clear. Say what you do and who you serve. Show your best facts. Name what is not known. End with a clear ask. YC lists what you do, market, progress, insight, model, team, and ask. [1] A talk can lead to a next step. It does not promise funds.
Set one goal before the meeting
Do not try to tell the whole firm story. Pick one goal. It may be a next talk, a product check, or a clear pass.
Send a short deck only when it helps. Keep a longer fact pack ready. The first call is not a due diligence process. Do not claim that it is.
Write two simple lines about the firm. Ask a smart person to say them back. YC uses this test to find words that need work. [1]
- Meeting goal and one clear ask.
- Company name, buyer, and plain description.
- One proof point and one open risk.
- A short deck or note, if the investor asked for it.
Open with the buyer and the problem
Start with what the firm does. Name the buyer or user. Then name the costly problem and how they cope now.
Show the product in plain words. A short user path can be clearer than a list of features. Do not hide the point behind a broad word such as platform. [1]
Say why the problem matters now. Then explain the insight that led you to this approach. Sequoia also asks founders to explain the problem, solution, why now, and alternatives. [4]
- What we do: one plain sentence.
- Who has the problem.
- What they do now and why it falls short.
- Why this approach can work now.
Spend the middle on proof and limits
Choose facts that fit your stage. A young company may show a working product, customer talks, pilots, use, or revenue. Give dates and context.
Keep facts separate from plans. Say what took place, what you learned, and what you will test next. Do not turn a small sample into a market claim.
The SBA says market checks can cover demand, size, place, other choices, and price. It lists polls, group talks, and deep talks as direct checks. [3]
- Customer group and evidence source.
- Progress to date, with a time period.
- One learning that changed the plan.
- One risk that still needs a test.
Cover the business, team, and money
Say how the firm may make money. If key facts are not known, say so. A short answer beats a long guess.
Say what each founder can do now. Give roles, time, and key past work. Do not list weak links.
State the funds you seek and the work they will pay for. YC asks founders to say how much they need and what it gets them. [2]
- Business model or current pricing view.
- Founder roles and relevant skill.
- Cash position and key use of funds, when appropriate.
- The next milestone the work aims to test.
Close with a useful next step
Leave time for questions. Listen for what the investor needs to understand. A hard question can show a gap that needs a better answer or more proof.
Make one specific ask. You might ask for a follow-up, product feedback, a view on a market question, or permission to send a named record. Do not end with only, what do you think? YC advises founders to make the ask clear. [1]
Send a short follow-up soon. Restate the agreed next step. Attach only the material discussed. Keep sensitive records for a suitable process and audience.
- Question asked and answer promised.
- Material to send, if agreed.
- Named owner and date for the next step.
- A clear note if there is no next step.
FAQ
Frequently asked questions
How long should a first backer talk be?
Use the time you get. Keep the start short. Leave room for questions. The aim is a clear view and fair next step, not a set script.
Should I show a full deck?
Bring a clear deck or note if it helps. Start with the story, not each slide. YC says seed decks should be clear and short. [2]
What proof can I share before sales?
Share facts that fit your stage. This may include a product, buyer work, trials, or use. Give the source, date, and limit. Do not call early signs proof of broad demand.
What is a good last ask?
Ask for one act the backer can take. Name the act and time. It may be a next talk, a product check, or a way to send a file. An ask is not a promise of funds.
REF
Sources
- 1
Y Combinator
How to Pitch Your Company ↗ - 2
Y Combinator
How to build your seed round pitch deck ↗ - 3
U.S. Small Business Administration
Market research and competitive analysis ↗ - 4
Sequoia Capital
Writing a Business Plan ↗