# 240523 ###### pg 1 - "tools to...." is too long. what is your _x for y_? ###### pg 2 - when investors receive decks (prior to pitch) they usually read the top 1 line of each deck and decide on whether they want to take a call or not. what you have now "Problem: SMBs don't have..." is too wordy and doesn't stick. with your deck, you are writing a 9 sentence summary of your pitch. right now you are describing the problem. please tell me an interesting 9 sentence story. your problem statement should create tension. i find "the near $1 trillion" very ineffective. it's about mkt size and doesn't add to the seriousness or interestingness of the problem. - what's underneath the one sentence could also be worked on but is less serious of a problem than the one line ###### pg 3 - your one sentence for the solution slide is a description right now. "mobile based expert SLM" sounds like the description of the tech and less like a product ie GPT as opposed to ChatGPT. - could you take "that provides... transaction data" and condense it with what comes after "business will be able to:..." ###### pg 5 - is there a way to speak about traction where it sheds more light on your sales effort? i look at the numbers and i find myself automatically multiplying 10 SMBs by $5 per report. ###### pg 6 - let's take out the $20 price. it leaves more for the imagination. - could you defend a $500 revenue per month? why that number? - how does coupon creation and customer discovery lead to fastagger making money? im struggling to understand intuitively can't understand it intuitively. ###### pg 7 - im confused between the $1t versus the $9.6b mkt here because of the difference in orders of magnitude. please clarify your pitch. - you don't have to include "bottom-up calculation" - the assumption that you'll take the whole SOM seems naive. ###### pg 9 - at this stage dont worry about stating your grow tgt in 18 months on the slide --- # 240423 if this is how you've pitched, i would be very hard pressed to be excited about funding fastagger. below i've given feedback slide by slide and provided resources that you can consume to reflect back on what you can change. this assumes that you have something hidden in the midst of your unclear and jumbled pitch worth investing in. you've already committed to this journey. there's no turning back. have faith. #### overall feedback - read through this whole document first before clicking any link and jumping down a rabbit hole. once you read it some questions will seem more important to you then others and you should jump down that rabbit hole first. - stick to nailing a [basic deck](https://www.ycombinator.com/library/2u-how-to-build-your-seed-round-pitch-deck) first before changing orders around. imo leading with slides 1 & 2 which are weaker points of your deck do not make sense to me. here is [another link](https://www.ycombinator.com/library/8d-how-to-build-a-great-series-a-pitch-and-deck) if you want more details (the link is about series A deck's which require a couple more pages). - please [pitch to investors not customers](https://www.ycombinator.com/library/7u-how-pitching-investors-is-different-than-pitching-customers) 1. 0:00 mkt analysis isnt attractive. mkt is small. what happens if 100m SME analyzes data? how big does it become? if this isn't your strong suit, why are you leading with this slide? 3. 1:10 "social commerce" conjures up various products and services across industries depending on mkt, where some are small and some are large. what do you mean exactly? 4. 1:43 mobile money is not ubiquitous across the continent neither is it sophisticated compared to fintech in certain parts of the world. "like what it is being done in crypto" is a very loaded phrase. what do you mean? 5. 1:47 problem-solution slides are weak. (a) problem isnt [clearly and concisely identified and communicated](https://www.ycombinator.com/library/4T-how-to-design-a-better-pitch-deck) in the previous slides. you give an overview and [do not identify the exact problem(s)](https://www.ycombinator.com/library/DT-dalton-michael-simple-products-that-became-big-companies). (b) this slide is a a product slide, not a solution slide, to a problem. it is too much information to process in one go, and i lose you. a solution slide should be "x for y" and conjure the most basic image of a solution in investor's head. (c) you start to explain all these current or future features. if im hearing your pitch for the first time, i lose you. 6. 2:43 you must NAIL the solution slide. (a) not clear how this solution is connected to the unidentified problem from the previous slides. (b) blockchain vs crypto. how do discount tokens make money? the solution and or the business model slide should answer this question if you are to raise. (c) "customers will be able to access a mobile wallet, which is also an app"—are there cases where mobile wallets are not apps? 7. team slide should answer how you can build and sell. great credentials but how do your team's experiences answer the question of "can you build to make money"? 8. 3:59 (a) the way you pitch yourself as "x for y" places you in a category that investors already have in their mind. ie if you say you are "mobile wallet for SMEs" then the competitive analysis is done against other mobile wallets such as metamask, trust wallet etc. in this chart you compare yourself to jambo (a hardware mobile company) and mara (a crypto exchange). not only is it confusing, by comparing yourself to notable african crypto companies (this is my summary of the chart) you give me the impression that your thinking is sloppy. (b) i want to know your unique value prop, secret (as according to zero to one), or competitive edge explicitly. what is your unique perspective about the mkt that no one else has? if im a betting man what is the one thing where you are heads and shoulders above others where i should bet on fastagger? 9. 4:30 traction slide is confusing because im not sure what your business model is and how these numbers connect to it. you said you are a social commerce mobile app but SMEs signed up is too small. im not sure how the transaction data points are related to your revenue. why is the ML data labling revenue there? as a company you seem unfocused. you dont have to tell investors everything every slide and every pitch. think a striptease—tell them enough to keep them interested for the next slide and the next meeting. revenue can be shared either in the appendix for them to read in their own time or in deeper conversations. also the organizations you work with must answer the question of "how will you make money!" here's a [video](https://www.youtube.com/watch?v=80mygN3BRSY) that ties tractions investors look for depending on business model. 10. 5:30 if you've pitched problem-solution-product correctly then a clean business model slide will tingle my imagination on how you can become a billion dollar business. (a) a MRR of $500k is too small. (b) your calculations for BM on coupon creation, customer discovery, and loan is too simple and optimistic. the investor has to use a lot of their brain power to imagine up to a $1b company and is left with too many what-ifs after the slide. 11. 6:39 you say 100m SME but the slide has 100k. that's sloppy. why those number in particular? what traction are you making in terms of partnerships? what is stoppping you? what's the breakdown for talent & ops? what kind of hires are you looking for to solve what problems for your company? same question goes for product and marketing. - if you are looking for SV venture funding, read as much as you can on [yc startup library](https://www.ycombinator.com/library/search) as well as [paul graham's essays](https://paulgraham.com/articles.html). i recommend reading a given number everyday and thinking of it as working out. i.e. - https://paulgraham.com/fr.html - https://paulgraham.com/convince.html