Yoann Berno

How many VCs co-invested alongside you? Keep a sheet with their names, the deals they joined and WHY they declined on others. Keep their scope close to you and make sure you continuously share them SPOT ON deals. If you do a mistake twice, they mentally add you to the exclusion list.

Pareto's principle. What are the 20% of your story that will convey 80% of the message across. It's actually even more skewed than that. What is the 1min elevator pitch that will plant the right seed in the minds of your investors. Focus 90% of your work to get this hook right. Once you get their full attention, the rest will unfold.

Let's face it, the best investors are the ones that have been in the founders shoes before. Why? Because they relate how soul-crushing entrepreneurship can be, the crazy roller-coaster, the grind, the financial stress, firing your friends, and borrowing money to your family.... Nobody prepares you for this. And only founders that have gone through this can fully relate. If you mention some of your battle scars to founders, they generally open up and feel understood. Thereafter it becomes much less transactional and much more human. A healthier foundation to develop a long term relationship.

VC funds have one obsession, finding that super-returner (call it unicorn). Amongst 20-30 investments, they need to hit that Unicorn returner. If they don't, their fund performance will be subpar, and they will grind to convince their LPs to continue backing them. You have to demonstrate WHY you will turn into that Unicorn. Period. To do so, you need to convince the investors that: -Your market is enormous -Your team has that unfair advantage to tackle that market (market insights, network, customer access,...etc) -Your product is sufficiently differentiated and can offer 10x more or better than what already exists -Your vision is so crisp, you're telling them about the future. -You just need money to make it a reality

-Understand the Syndicate Dynamics: Know who leads and who follows. Tailor your pitch to address the interests and concerns of key players in the syndicate. -Common Goal, Individual Interests: While they're united in wanting your success, each VC might have unique interests or expertise. Highlight how your venture aligns with their individual goals. -Clear, Cohesive Message: Ensure your pitch is consistent yet adaptable. Be ready to tweak it slightly for different members while keeping the core message solid. -Leverage Lead Investor Influence: If you've got a lead investor on board, use their support to build credibility and attract other syndicate members.

-Dividends and Liquidation Priority: Preferred stock often comes with dividend rights and gets paid out first in a liquidation event. This is crucial for investors looking for security and potential upside. -Voting Rights: Common stock usually carries voting rights, crucial for those wanting a say in company decisions. Remember, with preferred stock, voting rights might be limited. -Conversion Features: Preferred stock can often be converted to common stock, offering flexibility for changing investment strategies or capitalizing on company growth.