I wrote a screenplay, that no one read, but it helped me in fundraising
When I was at Wharton, I took a screenwriting class and wrote a screenplay. It wasn't great, no one read it ☹️ but I learned lots of things that I later applied to VC fundraising. Here it is…
Everyone loves a good story
Almost no one: “I really want to read your PowerPoint”
Almost everyone says, “I really want to hear a story.”
Stories are universal. Before the printing press, stories were a way of passing on knowledge from generation to generation. Humans are wired to remember and retell stories because, with that, comes wisdom from lessons. So, before you start writing your next pitch, think about what story you are going to tell.
All great stories follow the same format
What do Luke Skywalker and Jesus Christ have in common? Their stories follow the same format. Joseph Campbell called it “the hero's journey”: 1) the departure (hero gets a call to action and leaves the familiar world); 2) the conflict (the hero struggles and learns to navigate the unfamiliar world), 3) the return (the hero is transformed and returns to the familiar world). As a founder, the “conflict” is the problem you experienced, and the return is the “solution” you came up with.
Give people a reason to root for you
“Save the Cat” is a story technique for writers. It is named after a moment commonly found in stories where the protagonist does something heroic — like saving a cat — to endear themselves to the audience. As a founder, you need to give the VC a reason to root for you. This can be a personal story of a struggle you overcame or how your startup is going to change the world. You need to tap into people’s emotions if they’re going to write you a check.