Earlier than a single slide seems, earlier than your neatly rehearsed opening line, a call is already forming within the investor’s thoughts.
Over the previous few years, I’ve labored intently with a number of early-stage startups as they ready for investor conversations, together with one which efficiently closed a €50 million Collection B spherical. I’ve additionally helped different groups get by way of their first correct due diligence course of, the type the place the questions transcend the pitch and deep into what’s not within the deck.
What I realized: Most buyers make their preliminary judgment lengthy earlier than you get to the graphs and roadmap. They’re not simply scanning your numbers. They’re assessing your grip. Listed here are 5 issues skilled buyers clock nearly immediately, usually earlier than you even realise you’re being evaluated:
1. Are you grounded or simply shiny?
It’s apparent when a founder’s confidence stems from real engagement with their product, crew, and timeline, versus somebody presenting one of the best model of the story.
Polish is okay. But when your tone feels too pre-packaged, too rehearsed, or too defensive when challenged, that may elevate refined alarms. And if you make it to Collection B, you’re not promoting a dream. You’re proving what it takes to outlive actuality.
2. Do you perceive your operational fragilities?
In a single MedTech firm I supported, we had strong progress and genuinely compelling tech. However in the course of the funding course of, a pointy investor homed in on one element we’d already been monitoring internally: our post-market compliance timelines. They weren’t essentially flawed, however they had been tight. That single query sparked a wider dialog about crew bandwidth, operational realism, and whether or not our regulatory roadmap had sufficient respiration room.
In sectors like FoodTech and MedTech, the place market entry is intently tied to compliance, these sorts of assumptions can quietly undermine your credibility. investor doesn’t thoughts threat, however they hate surprises. Present them you’ve already mapped your stress factors and that you simply’ve began constructing round them early.
3. Are you aware who your product is basically for and the way they purchase?
At early levels, founders usually pitch to customers who need their product. By Collection B, the query is whether or not you perceive the client, the procurement pathway, and the timeline to income.
In regulated industries, this implies realizing not simply your finish consumer but in addition your gatekeepers: well being insurers, scientific champions, retail chains, and regulators. In case you can’t clarify your go-to-market mechanics, you’re signalling a shallow understanding of your individual subject.
4. Is your deck aligned along with your decision-making?
It’s widespread to current a deck that paints a clean arc from MVP to scale. But when, beneath questioning, your solutions betray hesitation or reveal choices that contradict the roadmap, buyers will discover.
One founder I labored with acquired caught out after they couldn’t clarify why their timeline had shifted internally. It wasn’t the delay that killed confidence. It was the disconnect between the pitch and the fact of their course of.
Keep in mind: Consistency builds credibility.
5. Are you able to admit what you don’t know?
It’s counterintuitive, however true: assured founders can say “I don’t know” when mandatory. They don’t flinch when requested a tough query. They present they’re nonetheless studying, they usually’ve constructed a crew that enhances their gaps.
Traders aren’t in search of perfection. They’re in search of individuals who can deal with stress, adapt quick, and keep trustworthy. In case you’re overly sure about every thing, it suggests you haven’t gone far sufficient to uncover the unknowns.
Last thought: The invisible pitch is the true one.
Your slide deck issues. Your story issues. However lengthy earlier than that, you’re already being evaluated on the way you suppose, the way you deal with ambiguity, and the way effectively you’ve pressure-tested your individual assumptions.
For founders in high-stakes sectors like FoodTech and MedTech, the place the regulatory burden is actual and timelines are unforgiving, this consciousness isn’t simply useful. It’s basic.
So earlier than you excellent the pitch, ask your self: What would I clock in me if I had been on the opposite facet of the desk?
