After we closed our round of financing, a lot of people asked me how we did it. Out of all the questions we get asked, this is by far the most common.
If I had to summarize one word which helped us get the money, it would be confidence.
Don’t get me wrong, you have to have a great story, traction, product, team and market as well – but if you can’t convey this with confidence, no one calls you back.
Let’s do a role reversal. You have $500,000 in your bank account and you are only allowed to invest it into one startup. Two are presented to you. Company 1 has a story/product/team and traction that is 30% better than Company 2. Company 2 however presents much more confidently. More often, it is Company 2 that you would put your money into (I know I would).
Why is that?
Because confidence is a key indicator of tenacity.