With investors, a prototype or demo is worth 1000 words – other than customers and revenue, nothing makes a stronger initial impression. People are very visual, so a prototype helps your audience immediately grasp your business. This is a huge advantage, because investors are notoriously impatient with entrepreneurs, especially when they’re pitching.
However, the demo advantage goes much deeper than conveying an idea. It says things that you can’t easily say. Through a demo, your audience will get a sense of your approach and your vision. The more impressive it is, the more points you’ll get on your credibility in product development and user experience.
Most importantly, a demo or prototype establishes that you’re a doer, not a dreamer. It proves that you get things done. When you’re unknown to a prospective investor, the main thing he’s trying to figure out is whether you’ve got what it takes to build the business. A demo of your prototype is a big step in the right direction.
Besides, with prototypes being so easy to build these days, why wouldn’t you?
