Telling stories is an art is as old as civilization, but it is seldom taught anywhere despite the fact that the ability to tell a good story is essential to success in many fields.
Fundraising is one area where good news can be a table, but few founders are able to communicate clearly and unambiguously how their vision solves a problem.
The founder of Snorkel.AI, along with the CEO, Alex Ratner, honored his songs for storytelling at the Stanford lab, and that ability, he said, in a recent episode of Referus Live, was key to helping him raise $ 135.3 million in four rounds from the company in four rounds. was established. was established in 2019.
“I was a pitch deck player even before I gave the actual pitch deck,” Ratner said. “I focused on the academic side, that communication is everything. You may have a better, more efficient approach. Still, it does not matter if you are unable to communicate in a way that leads to real problems and how they interact with other solutions. ”
Ratner was joined by Referus Live by Saam Motamedi, a Greylock partner and leading $ 3.3 million Snorkel.AI seed investor.
Listen to the episode, and it is clear that Alex Ratner is able to tell the story of his company. Enthusiasm and ingenuity emerge easily, though he is stressed, he admits that he has given this talk many times – and that was the broader theme of this episode. Of course, it takes practice to throw well.
This episode should be watched by anyone preparing the song. Ratner and Motamedi have drawn a straight line from place to place to raise money early, and the beginning is a clear message.
“I think anyone can learn to be a special reporter,” said Motamedi, adding, “Alex has been an amazing reporter since I met him. But, as mentioned, I think his ability to tell the story has greatly improved in the last few years.”
Motamedi points to the voice of Snorkel.AI as an excellent example for entrepreneurs trying to improve their storytelling skills. It is an important act of balancing between introducing a 30,000 ft market idea and the problem the company is solving that adds value to the customer.
He said, “To be honest, getting started requires fixing this.” It can lead directly to seed investment or to Series A, as well as convince the investor that the company has the right team in place. “These are the two things we look for in seeds and in Series A.”