𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝘃𝘀 𝗨𝗦 𝘀𝘁𝗼𝗿𝘆𝘁𝗲𝗹𝗹𝗶𝗻𝗴

We get together twice a year face-to-face to encourage peer-to-peer learning (disclosure: I am a member of the board – Council in their lingo).

Much of the discussion in Riga was on equity narrative. On that front, European entrepreneurs can be shy compared to their US cousins who are famed for their "fake it until you can make it" motto. Well, things are changing. European entrepreneurs now have the right level of ambition (the unicorn imagery has clearly changed the psyche) and know how to shout. Or do they?

Four words of caution:

→ 𝗥𝗮𝗶𝘀𝗲 𝗮𝗯𝗼𝘂𝘁 𝘁𝗵𝗲 𝗻𝗼𝗶𝘀𝗲 𝗹𝗲𝘃𝗲𝗹 - Investors are literally assaulted by companies vying for attention. So, make sure you sure you differentiate yourselves. Hitting the headlines in the mainstream press (e.g. Financial Times, The Wall Street Journal, The Economist etc.) or more focused tech media which matter (e.g. Sifted, TechCrunch, VentureBeat etc.) is a sure win. Joining EIC Scaling Club can be another way. Whatever makes you stand out.

→ 𝗕𝗿𝗶𝗻𝗴 𝗰𝗹𝗮𝗿𝗶𝘁𝘆 𝗮𝗻𝗱 𝗰𝗼𝗻𝘀𝗶𝘀𝘁𝗲𝗻𝗰𝘆 𝘁𝗼 𝘆𝗼𝘂𝗿 𝘀𝘁𝗼𝗿𝘆 - If you get the mouthpiece, you better make sure you have something to say which investors understand. This is the famous "elevator pitch" exercise: how to convey concisely in 5 mins what you do, why it matters, and why you are ahead of the game. Make sure you use the same words all the time, in the same order (that’s the basis for good branding). Use them as a rallying call for your troops so that all talk about your company outside in same way, with the same words.

→ 𝗕𝗼𝗿𝗿𝗼𝘄 (𝗮𝗻𝗱 𝘂𝘀𝗲!) 𝗯𝗿𝗮𝗻𝗱 𝗲𝗾𝘂𝗶𝘁𝘆 - You need to strike a balance between what you claim and what is believable. That’s why it is so important to have third parties vouching for you. So, when choosing investors, premium to brand names; carefully vet Non-Executive Directors with awesome track records; and go for great Advisory Board members. In the medtech world, they are referred to as “Key Opinion Leaders (hashtag#KOL)”. That should be very much part of your equity narrative.

→ 𝗢𝗯𝘀𝗲𝘀𝘀 𝗮𝗯𝗼𝘂𝘁 𝗲𝘅𝗲𝗰𝘂𝘁𝗶𝗼𝗻 – Vision is cheap (it is difficult to copyright), it is all about execution. A good equity story will get you the attention, but investors will follow you over months to check progress. So, a great narrative doesn’t replace partners, prospects, clients, revenues and, in due course, profits.

📎 Source:
https://eicscalingclub.eu/news/more-than-1.2-billion-raised-by-eic-scaling-club-members

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