fwiw
I have no idea how VC funding works
selling an investment is like selling anything else, ie know what you're selling and who you're selling it to and find the right "who" for the "what" you're selling
At the end of the day, a VC is going to want to see a business model though.
It depends on the business and the VC. At this "seed" stage though, good VC's know that all business models are theoretical and good VC's are usually only concerned about meta-things like the founding team's resourcefulness, vision, etc. They eventually expect you to produce a return but they expressly have a very long time horizon so it suffices to display a mind for how that might eventually happen.
IMHO it's a red flag if a founder stubbornly forecasts a business model before product-market-fit or if an investor expects such clairvoyance.
well said! đź‘Ź
also, I’ll add that I see a lot of people say things like “VCs all do/believe/behave like X”.
It’d be like saying “all python developers believe X”!
VC is just a capital/partnership structure. People organize those structures and deploy the tool of capital in vastly different ways with vastly different strategies. There are also different definitions of “success” based on what outcomes/timeframes are modeled for the specific risk/return goals. These are often closely coupled to fund size, but not exclusively.
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