[Background: Developer with many years experience, many apps written, many existing customers, deep domain knowledge, and multiple exits.]
I rarely pitch, but when I do, some of the things I hear:
"No one will buy that." (They have and they will again.)
"They will use <x> instead." (When my customers have already begged me for an alternative to <x>.)
"You have 10 minutes to explain the technology." (After 2 minutes: "Who cares about that? Where's the business proposition?)
"You have 10 minutes to explain the business proposition. (After 2 minutes: "What difference does any of that make if you can't build it?")
When I've pitched with a co-founder: "We don't like your team. You don't have a enough of a track record."
When I've pitched as a single founder: "Where's your co-founder?"
When I've described the distinctive advantage: "OK, I get it. We can combine that with <x>," effectively negating the distinctive advantage.
"We want a home run." (But when you give them a potential home run, they get scared that they'll be in too deep before seeing returns.)
"We want to see early returns." Then: "But where's the big idea."
"We want a product." Then, when you demo a product, "But your customers will want a service."
"We want a product, not a feature." Then, "But where are the features that will grab your audience?"
"Give us financial projections." Then, "This is science fiction. How could you know?"
Or "Where are the financial projections?"
"What happens if you get hit by a bus?" (Too stupid to have any response.)
Face it, OP, for every stupid pitch you see, I see stupid money jumping over the dimes to get to the nickels. For every intelligent investor, there are dozens of heirs, government admins, enterprise idiots, lottery winners (from lucky exits, not lotteries), and angel posers. You're not the only one whose time is being wasted.
I don't really take this as a valid response to the original post. Yes, you'll run into stupid money, but that doesn't mean that all money is stupid.
As I'll respond to the original post, how are the people pitching being qualified, and I'd suggest you do the same with the investors you speak to. I've met with investors who ask these sorts of questions, as well as many who actually try to add value in the meeting rather than just seeing what I know.
You have the market, the business idea, the technology, the software, the team, and the beta users all in good shape but you didn't tell a good 'story'!!!!!!
You failed at 'story telling'!!
"Once upon a time, there was ... ". Now please send the check!
[Background: Developer with many years experience, many apps written, many existing customers, deep domain knowledge, and multiple exits.]
I rarely pitch, but when I do, some of the things I hear:
"No one will buy that." (They have and they will again.)
"They will use <x> instead." (When my customers have already begged me for an alternative to <x>.)
"You have 10 minutes to explain the technology." (After 2 minutes: "Who cares about that? Where's the business proposition?)
"You have 10 minutes to explain the business proposition. (After 2 minutes: "What difference does any of that make if you can't build it?")
When I've pitched with a co-founder: "We don't like your team. You don't have a enough of a track record."
When I've pitched as a single founder: "Where's your co-founder?"
When I've described the distinctive advantage: "OK, I get it. We can combine that with <x>," effectively negating the distinctive advantage.
"We want a home run." (But when you give them a potential home run, they get scared that they'll be in too deep before seeing returns.)
"We want to see early returns." Then: "But where's the big idea."
"We want a product." Then, when you demo a product, "But your customers will want a service."
"We want a product, not a feature." Then, "But where are the features that will grab your audience?"
"Give us financial projections." Then, "This is science fiction. How could you know?"
Or "Where are the financial projections?"
"What happens if you get hit by a bus?" (Too stupid to have any response.)
Face it, OP, for every stupid pitch you see, I see stupid money jumping over the dimes to get to the nickels. For every intelligent investor, there are dozens of heirs, government admins, enterprise idiots, lottery winners (from lucky exits, not lotteries), and angel posers. You're not the only one whose time is being wasted.