Being a first-time founder comes with incredible challenges. You have to work extra hard to convince investors and unlock opportunities that easily fall into the laps of others who are better networked. Here are some tricks for convincing others-from shareholders to retail partners, even friends and family-that you have what it takes.
Own it
Frame your fresh perspective as a competitive advantage
- Sell to customers you understand
- Tell your story about what led you to founding the business and why it’s meaningful to you
- Be yourself, and allow your personality to sell what you’re building
- Show your relentless and die-hard dedication to the business
Be transparent
Be open about challenges you see for your business
- Show confidence in your ability to face obstacles head-on
- Admit what you don’t know
- Understand your own restraints
- Have a plan for how you’ll learn and the strategic hires you need to make
Prove your expertise
Let your product do the talking
- Talk about the work and research you’ve done to validate your idea
- Show a deep understanding of the category and other players in the space
- Acknowledge the competition you’re inspired by and examples of founders you think are doing it right
