Entrepreneurs tend to explain to funders how they will use money. Most of the time by listing a bunch of expenses. Seems logical. But it sends the wrong message.
“Don’t tell me how much of my money you will burn. Tell me what amazing accomplishments my money will allow.”
BAD EXAMPLE: “This round of financing will be used primarily on working capital to keep us alive until we’re ready for the next stage.”
GOOD EXAMPLE: “This round of financing allows us to get a commercial grade prototype into the hands of key influencers in our target market.”