1. A sharp customer and wedge
Broad markets are fine later. Early investors want a beachhead: a specific buyer with a painful problem and a reason to choose you first.
2. Credible economics
They look for pricing logic, contribution margin, payback intuition, and whether growth requires unsustainable spend. Fancy charts do not replace simple unit math.
3. Go-to-market realism
“We will go viral” is not a channel. Name the first acquisition motions, expected conversion, and what you will learn in the next 90 days.
4. Team that matches the risk
Investors ask whether this team can win this market. Highlight relevant experience, not generic adjectives.
5. Clear use of funds
Capital should buy milestones: product, distribution, hiring, or runway to the next proof point. Vague “growth” budgets weaken confidence.
6. Honest risks
Plans that admit risks look more adult than plans that pretend there are none. Name the top risks and what you will do if they show up.