Why I don’t reply to all LinkedIn messages?
MANDAR JOSHI
Angel Investor | Independent Director | Fund Manager | Media Producer | Theatre Actor | A Very Lucky Guy
Startup Introduction: Why I do not reply to all of your messages?
Startups, entrepreneurship, innovation and investment has been my life… my passion for over a decade now. I have invested in startups in my personal capacity and managed funds for other investors.
I receive approximately 3 pitch decks every day just on my LinkedIn personal messages. That’s 100 per month. Cold emails or casual introductions by startup founders are not counted in these 100.
?It is humanly impossible to review all pitch decks received for me and my team.
Through my relationships with incubators, accelerators and funds in India, in GCC countries and in Europe, I have access to 1,000+ new pitch decks every month. And it is not just me. This is probably a fact with all other top angel investors across the globe.
Only if you have a well-crafted introduction, you would end up securing meetings with potential investors. A powerful introduction has a direct impact in sparking interest in the investment leads. The introduction must be clear yet concise.
Understanding the Startup Introduction:
A brief startup introduction encapsulates fundamental aspects of your venture: the problem addressed, your solution, traction achieved, team composition, and pertinent details about your funding stage. Only the information necessary to review as an initial introduction. Nothing more, nothing less.
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Purpose of the Introduction:
Answer following questions each in one word or one line. Structure the introduction of your startup in maximum 7 sentences while sending written communication to prospective investors:
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1. What is the nature of your product or service?
2. Who constitutes your target demographic?
3. Is there a demonstrable market demand for your offering?
4. Who are the individuals spearheading this initiative?
5. What is the current status of your funding endeavors?
6. Mention names of maximum 3 most prominent investors in your startup, if you have investors already and only if you are proud of their names. Do not mention unknown names which do not have any value for the prospective investor.
7. Mention names of maximum 3 top customers of your product or service, if you are post-revenue startup and only if you are proud of those names. Do not mention small customers. Mentioning small customers creates a wrong perception about your vision.
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Rules You Must Follow:
?Rule #1: Be Short
Given the inundation of investment opportunities, conciseness is crucial. No busy angel investor including me looks at or can look at lengthy messages.
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Rule #2: Be Clear
Use simple, easy to understand language. Do not sound like a puzzle. Do not try to show off by using too many industry-specific jargons. Do not use AI for the standard marketing sentences. I can smell the use of AI.
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Structure of Startup Introduction:
?a. Elevator Pitch:
?Condense your venture's essence into a single, short-sentence.
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b. Traction:
?Highlight your most noteworthy achievements. Use numbers, values, percentages. Do not use too many adjectives like… very high, too many, a lot of… they do not mean anything. Only numbers matter.
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c. Team Overview:
?Highlight brands, universities, companies the founding team has been through, if you are proud of those names. Accentuate the relevant expertise of your team members.I place considerable emphasis on the collective proficiency driving the venture.
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d. Funding Specifics:
?Provide a concise overview of your current funding round and any preceding rounds if applicable. Emphasize the momentum behind your fundraising endeavors.
?And the last tip for my Indian startup founder friends. If you are pitching to a non-Indian investor, please use all numbers and values in Million / Billion USD. Do not mention lakhs and crores of rupees. They do not mean anything to a foreign investor.
?The introduction can make or break a relationship with prospective investor. You can never count the number of opportunities missed.
?Be Short. Be Clear.
Helping Startups Scale Hiring | Cut Costs 60% & Hire 50% Faster | Free Audit ??
8 个月MANDAR JOSHI, your emphasis on clarity and brevity in pitch decks is spot-on. How do you think founders can better highlight their team's unique strengths and experiences to stand out in such a competitive landscape? Any examples that stood out to you?
ADN-Vantage for Pharma Professionals | CEO-AdametNext | Ex-Novartis | Ex-GSK | Ex-Bayer
9 个月You need a good and efficient assistant MANDAR JOSHI ??
Forming fund in Stealth Mode | Founding Partner @ Unnati Ventures India | Angel Investor | Strategic Investor I Seasoned Investor I Capital Raise | Entrepreneurial Specialist I IIM Lucknow | (HBS)
10 个月Thank you, Sir, MANDAR JOSHI for crafting such an insightful guide on approaching investors for startup founders. Every word within your message is enlightening and will surely benefit many aspiring entrepreneurs.
Angel Investor, VC , PE and Private Funding
10 个月The worse thing is to send an email with generic subject lines like 'Funding Required" . They do not even mention their startup name in the subject line.
Strategy Expert I Start-up Investor
10 个月You are already so very active on LinkedIn. I don't think any other angel investor posts so much knowledge and replies to all the comments of his / her followers. Very nicely written article. Straight-forward and direct. The startups founders and all the people approaching you should understand that they are not the only one who approach you. Thank you for spreading the knowledge MANDAR JOSHI