“Wake up, guys, it’s story time.”
If you’re a “read the first sentence, then back to Twitter” type, then read this: the Chinese investor is just like the western investor.
OK – there are differences: they’re more likely to smoke (heavily), and carry their smoking accoutrements in a designer clutch purse.
There are far more similarities than differences, is the point. And those similarities are what will decide whether you fly back from a road show with a few million in commitments, or a Folex watch and twenty thousand on your visa card.
Similarity One: Chinese Investors Love A Good Story
Blessed Mary, are blockchain startups stuck on themselves. We get it, you’re tech geeks-cum-driven business owners. And yes, the money is supposed to go into your project.
But that doesn’t mean you should be taking twenty minutes of stage time talking about your ideas, your tech, your token. At least, not without the context of a good story.
We have to coach most clients out of this mindset. One project we successfully de-hypnotized had a working UVP (unique value proposition) of, “We have great advisors.”
What’s in it for the rest of us, project owners? Your story lies where the project overlaps with your audiences’ self-interest.
So the tried-and-true “Problem à Solution” approach doesn’t do it during a pitch presentation, or anywhere else, on either side of the Pacific.
We took our client from “We know people,” to “We’re the platform for the next wave of crytpo-investors, the early adopters.” We told a story about how the majority of would-be crypto investors don’t want to spend all day on Telegram and forums, hunting and timing moon shots. That they want security, safety, and simplicity.
That project was a hit, and has a lot of investor follow-up directly from that One Top event.
Similarity Two: There’s no “i” in “Team”
Stop believing in the Vitalik anomaly. It’s like believing you can have the looks and acting ability of Bruce Willis and still be a movie star. The odds are astronomical.
They may not have gone to Wharton (although many have), but the Chinese investors you want to deal with think and opine just like any VC.
So you must come correct.
Bespoke suit and mirror-polish shoes? Not necessarily (although don’t tell our head book-builder that.) But you have to carry yourself and speak like a seasoned, savvy business owner.
That means you, or at least one person on your team, must be a seasoned, savvy business owner. And that owner must own the presentation.
No mumbling tech genius. No blockchain hippy trying to change the world. Those acts play well at Consensus, but investors are thinking about ROI. And if no one on the team is clearly committed to that, and demonstrates experience and knowledge of how to get it, your chances of funding vanish faster than a pan of crab legs at a Shanghai seafood buffet.