Cracking the Code: Lessons I Learned About VCs, Pitch Decks, and Building a Product Mindset

When I started raising capital, I had this naive belief that venture capitalists (VCs) were guided purely by formulas and frameworks. As long as I hit the right metrics, the doors would open. What I learned through countless conversations, rejections, and some hard-won wins is that while frameworks exist, investor decisions are deeply subjective — and they change depending on where your startup stands in its journey.

\ This realisation reshaped both the way I approach investors and the way I think about building products, sizing markets, and telling my company’s story.

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Understanding VC Expectations

One of the first things I had to learn was that a “no” is not really a no. It’s more often a “not yet” or “not in this form.” At pre-seed, VCs are mostly betting on the founder — on your character, your resilience, and your ability to learn fast. Later, the focus shifts to strategy, revenue, and scalability.

\ This distinction seems obvious on paper, but it took me a lot of failed conversations to see it. Each rejection felt personal until I realised VCs aren’t rejecting me, they’re rejecting the stage, the timing, or the current version of the idea. That perspective gave me the resilience to keep going.

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Building a Product Mindset

Joining Barclays Eagle Labs’ product readiness programme was a turning point. Before that, my product thinking was scattered. I would rush to build features, skipping essential steps. They taught me to slow down: start with the framework, then build mockups, then create step-by-step roadmaps, and finally, develop the features themselves.

\ I didn’t realise it at the time, but most founders want to sprint to a finished product. In reality, building a product is about baby steps, carefully and deliberately. By November 2023, after three months in the accelerator, we began designing our platform. Those first initial designs were humble, but they laid the foundation for everything that followed.

\ The programme also taught me the importance of asking the right questions – 90% of the answers come from asking the right questions. One method in particular stuck: the “eight times why.” Borrowed from Japanese corporate practices at Toyota and Samsung, it forces you to dig deep. If someone requests a feature, you ask “why” repeatedly until you uncover the true need. Often, it’s not what they first asked for at all.

\ Another critical mindset shift? Embracing failure. The product you build today might end up in the scrap heap tomorrow. Learning to accept that quickly is liberating and crucial for every founder.

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London Investors: Pragmatic and Global

When I began pitching in London, I quickly noticed a huge contrast with Silicon Valley. Valley investors have a higher risk tolerance, but London investors? They are pragmatic to the core.

\ They want to see traction — real proof that people are already using and valuing your product. They want to see resilience, especially if you’re working in a regulated industry. And perhaps most importantly, they look beyond the UK. A London investor doesn’t get excited about a product that only fits Europe. They’re assessing global scalability from day one.

\ Understanding this pragmatism forced me to think differently. I had to position our company not just as a UK solution, but as a global proposition. We had to demonstrate that our platform could scale across borders, solve real problems in multiple markets, and maintain operational integrity under regulatory scrutiny. It was a humbling lesson in perspective: success in London demands a combination of diligence, proof, and vision that goes beyond flashy presentations or lofty promises.

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How My Pitch Deck Evolved

My first pitch deck was chaotic: too much focus on features, too little on the problem or market. Investors listened politely, but I could see them losing interest.

\ The breakthrough came when I learned to structure the deck around what truly matters:

• The problem, not just the product.

• Market size and go-to-market strategy.

• Founder-market fit – why I was the right person to solve this problem.

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I even wove in my personal story. As an immigrant navigating UK visas since 2010, I understood our clients’ journeys firsthand. From student visa to work visa, entrepreneur visa, ILR, and finally British citizenship – 13 years of personal experience became a compelling lens through which investors could see our purpose.

\ After attending YC Startup School in 2022, I caught the importance of market sizing. Understanding TAM (Total Addressable Market), SAM (Serviceable Addressable Market), and SOM (Serviceable Obtainable Market) gave investors a clear picture of global potential. Features matter less than scale: is it a billion-dollar opportunity?

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What a Pitch Deck Must Include

After countless revisions, I’ve simplified it to the key points:

• A clear problem
• A viable solution
• A market of at least $1 billion
• Founder and team story
• Business model
• Competitor comparison
• Go-to-market strategy
• Product roadmap
• Vision

Everything else is noise.

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Focus on Networking, Not Cold Outreach

One of the hardest lessons I learned is that mass investor databases are almost useless. Cold outreach drains time and money with little return.

\ Instead, I started focusing on networking. I pitched my idea at every chance I got, not to “close” an investor but simply to share what we were building. And that’s how the right investors found me.

\ One investor, for example, tracked my progress for months before reaching out. They weren’t convinced at first, but they stayed interested because they saw me refining the product, sharpening the strategy, and staying resilient.

\ This approach completely changed the game. Instead of me chasing investors, I created a situation where investors were chasing me.

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Investors as Partners

The final piece of the puzzle was learning that investors aren’t just a source of capital. They’re partners. Their expertise, values, and network can accelerate or hinder your growth.

\ The best relationships I’ve had were built on transparency. Experienced investors know startups are risky. They understand failure is common. They respect honesty far more than polished but unrealistic numbers.

\ One VC once told me that every real investor offers “a spoon of sugar of hope.” It stuck with me. Investors are sharp, but they’re also human — they want to believe in something bold, and it’s your job as a founder to give them that hope without losing your honesty.

\ BUT, another important thing is to understand that NOT all investors are right for your startup. I once encountered an angel whose profile and expertise were misaligned with our company culture and growth trajectory. I didn’t reject them outright but put them aside, understanding that early investors shape your startup’s DNA. Partnering with the wrong investor can complicate future fundraising and growth. The right investor should bring complementary knowledge, insights, and alignment — not just capital.

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Final Thoughts

Looking back, my journey has been less about memorising VC checklists and more about growing into a founder who can think like an investor, a product manager, and a storyteller all at once.

If you’re at the beginning of your journey, here’s what I’d say:

• Don’t fear the “no” — it’s rarely final.
• Build systematically, one baby step at a time.
• Learn to think like your investors: pragmatic, global, and focused on scale.
• Treat your pitch deck like a living story, not a static PDF.
• Network with authenticity — let investors come to you.
• Above all, remember that fundraising is about relationships, not transactions.

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