A list of the common sentences you will hear after a pitch. It meant to give you a heads up to detect the BS when it’s coming your way.
Common nonsense from Entrepreneurs
- We have a dream team of ninja hackers – It’s always the same story of a dream team. “Our CTO is the Michael Jordan of the coding world”.
- No one else can do what we’re doing – (In most cases) That’s just show you didn’t do your research.
- Our product will go viral – Later, you ask them – How? The answer is something like: “We have a social strategy of buying Ads”.
- Our projections are conservative – But in the same breath, projecting exit in 3 years of 50x on the investment.
- The large companies in our market are too slow to compete with us.
- Y Fortune 500 companies are set to do X with us.
- We filed patents so our intellectual property is protected – You are not.
And from Investors (might be angels or VCs depends on the day)
- Show us some traction, and we will invest.
- This is a plain, vanilla term sheet.
- We love to co-invest with other firms.
- I liked your company, but my partners didn’t.
- We have lots of time to dedicate to your company.
- We are patient investors who want to help you build a great company.
As an entrepreneur who wish to start a new life project and choose to do it in a form of a new company.
You might want to remember what Warren Buffett said: “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently”.
The most important assets you have are: your integrity and your passion.
Watch them and keep growing.