Patreon's Founder On How To Structure Your Pitch To Investors | Forbes

Summary

In this engaging discussion, the speaker reflects on their initial struggles with pitching for funding as a YouTube creator. Initially, they attempted to present themselves as a traditional business leader, leading to several unsuccessful pitches. However, by embracing authenticity and sharing their personal story—highlighting a specific music video project—they resonated emotionally with investors. This approach transformed their pitches by emphasizing the real challenges faced by content creators. The speaker emphasizes the importance of starting with the 'why' behind a venture, as a strong emotional foundation is crucial for persevering through the inevitable challenges of building a company.

Takeaways

• 😀 Embrace Authenticity: Present yourself genuinely rather than conforming to expectations or trying to fit a corporate mold.
• 💡 Overcome Imposter Syndrome: Recognize and address feelings of inadequacy, especially when stepping into unfamiliar roles.
• 🎤 Lead with Passion: Start pitches by sharing your personal story and the motivation behind your project.
• 📊 Metrics Matter, but Don't Lead with Them: While data and business strategy are important, they shouldn't overshadow the personal connection to the problem you're solving.
• 🤖 Share Your Work: Demonstrating your projects, like creative videos or products, helps to engage and resonate with your audience.
• 🔍 Highlight Real Problems: Focus on the genuine challenges that your target audience faces to foster understanding and empathy.
• ❤️ Build Emotional Resonance: Establish a strong emotional connection with investors by articulating why the problem matters.
• ⏱ Invest Time in the 'Why': Spend a significant portion of your pitch discussing the mission and purpose behind your company.
• 🚀 Stay Resilient: Recognize that building a company is hard, and a strong 'why' will help you navigate challenges.
• 💪 Commitment is Key: Investors want to see that you are passionate and dedicated to solving the problems you identify.

Q & A

What was the speaker's initial approach to pitching?

The speaker initially tried to lead their pitches with metrics and business strategies, which felt inauthentic and did not resonate with investors.

What emotional struggle did the speaker face during their seed round?

The speaker experienced significant imposter syndrome, feeling unqualified as a YouTube creator attempting to build a company.

How did the speaker change their pitching strategy?

They shifted their strategy by sharing a personal story related to their work as a YouTube creator, including visuals and the emotional context of their project.

What specific project did the speaker use in their pitches?

The speaker showcased a music video they created, which featured a replica of the Millennium Falcon cockpit, along with details about the effort and creativity involved.

What key element of their pitch helped secure funding?

By starting with a personal narrative that highlighted a real problem faced by creators, they established an emotional connection that resonated with investors.

Why is the 'why' behind a mission important in pitching?

The 'why' serves as an anchor and foundation for enduring challenges in building a company, helping to maintain motivation and focus.

What lesson did the speaker learn from their initial pitching failures?

The speaker learned the importance of authenticity and emotional resonance in effectively communicating their vision and passion.

What specific results did the speaker achieve after changing their pitch?

After adapting their pitch to be more personal and authentic, they successfully closed their funding round.

How does the speaker recommend structuring a pitch?

The speaker recommends spending a significant portion of the beginning of the pitch on the emotional 'why' behind the mission to set the stage for the rest of the presentation.

What overarching theme does the speaker emphasize regarding pitching and entrepreneurship?

The speaker emphasizes that building a company is incredibly tough, and having a strong emotional reason behind the mission is crucial for perseverance through challenges.