I love sharing this chart with the founders in @mediatech Ventures' incubators because founders, generally all, want to show me their product, get fixated on traction, and feel it necessary to explain how it works.

I can't count how many times I met someone at SXSW who then wanted to turn what should be a 3-minute conversation into a 15-minute chat so they could demo their product (and I often felt bad being busy and saying, "I don't need to see it, just tell me your pitch" because of the look of disappointment on founders' faces at hearing they can't show it off). Think about it... how will seeing your product, and how it works, change any opinion about funding you? You demo for people buying it, not for people taking a risk in whether or not you can build a company.

1. Is there actually a problem (and opportunity)?

2. How is your solution a value proposition? Not just a solution, how does it create value? If it doesn't or can't, you're not yet fundraising.

3. What are the business models that apply, and which will give you a competitive advantage? Note: business model doesn't = how we'll make money; the business model is both revenue and costs.

4. Competition. Shame on you for showing us you're best and woe be you who says there isn't any. I feel bad for founders who don't put marketing first and actually started, or worse, built something, without doing this above all else.

5. Can you and your team accomplish this?? If not, you're not fundraising, you're still team building.

6. Now, what kind of capital do you need, how will that create much greater value and not merely deliver or fulfill what you need to do now, and why do you actually need it? What will that mean for the investors?

SIX SLIDES

And notice, ABSOLUTELY NOTHING to show how it works.

If those 6 slides are nailed, traction is evident, confidence is established, and opportunity is communicated.

Next frequently valuable to add?

1. Market Validation. Not CUSTOMER validation! MARKET validation. -- If you don't know the difference, call me.

2. Market Size. But really, come on, it's more than billions isn't it? What's your Attainable Market (and how)?

3. Marketing Plan / Go To Market

(seeing a recurring theme yet? #marketing)

4. Traction / Milestones - you need this if the above fails to convince. Otherwise, you don't need it

5. Use of Funds. Frankly, this should be in there.