"I studied psychology but never knew how to apply it to this [until FWC]"
Company HQ: Singapore
Round Raised after FWC: Seed
Amount Raised: $4.3M
One is confidence, projecting confidence in your product, in what you are doing. The appearance makes a lot of difference. One of the other things I learned in his class was that you really can't seem desperate. Doesn't matter if you are or not, but as far as investors are concerned, you have to be very light touch.
I think that's a very, very important psychological factor because it's a turn off. Even if you are actually really good, you have traction, you have customers, but being too much or too pushy sounding like a salesperson, like a lot of entrepreneurs are, that's counterproductive and can turn off even the willing investors. You have to let them come to you. You have to get them interested, but not give them too much.
When we started FWC, we were connected to around 50 investors, but we were the ones who were reaching out. We didn't have any institutional investors. Two months after the class, we secured an investment from an institution that I never thought would invest, which came from completely not trying to pitch to him. I followed Jason's concept of being chased, not chasing.
I also realized the importance of investor psychology and making investors visualize the big, bright market, the horizon, the crazy impact your company will make in the future that can generate the huge returns they're looking for. Helping them visualize that is the prime thing you have to do as an entrepreneur. You have to show them how big this can get.
Project confidence. Don't look desperate. Show that you understand your field.