Investors are not interested in your product. Not really.
Investors think a great addresses many things when considering investments: How big is the market? How good is the founder-market fit? Is it risky scale?
It’s natural that founders live and breathe for their customers and products, but the little secret of fundraising is that your investors aren’t particularly interested in your product. And they have a few good reasons to do so.
I often see product-focused founders spend a lot of time talking about the solution they’re building. That makes sense. In the context of building a great product, the founders are creating an investment ploy that reflects their day-to-day lives. They’ll be spending a lot of time on their product: They’ll be talking to customers, working with engineering, and trying to slice the marketing pie in a way that makes sense.
So when a founder talks to their investors, obviously investors should care as much as about the product, right?