From odd questions like "can you be a cockroach?" to the standard "what's your weakness?", these are the answers you should have prepared when you pitch to an investor
“What I really want to see is how well founders react under pressure,” says Tak Lo.
As the founder of Newtype—an early-stage accelerator focused on backing founders in AI, blockchain and robotics—Lo has spent hundreds of hours listening to entrepreneurs pitch.
As a result, he’s built up a bank of questions that are, more often that not, overlooked due to their perceived "run-of-the-mill" nature. In actuality, Lo says, it’s these very questions that give him the information he needs to know about the founders, their team and their company.
“I want to gauge their intellectual capacity and their group dynamics,” he says. “I deal with more early-stage entrepreneurs, so I'm actually more concerned about the team and the founder and who they are, rather than the pitch itself.”
A common theme in Lo’s line of questioning is getting entrepreneurs out of their comfort zones to see how they react. “Entrepreneurs need to be able to face up to awkward situations with the same level of tenacity, passion and discipline as normal situations,” he says.
“Sometimes I’ll say [to the founder], ‘Hey, jump with me!’ and then start walking and we’ll do their pitch session while they’re walking—so you’re taking them out of their normal situation and making them run with it.”
Here are five questions Lo says every founder needs to have a good answer for.
What's Something You Don’t Like About The Other Person?
When the founder walks in to deliver their pitch, what’s the first thing Lo does? Make them uncomfortable.
“If I see a teammate, I’ll pick one person and say, 'Hey, what is something that you don't like about the other person?' I basically want to see how they react to an awkward question.”
Lo says he usually asks the CTO about the CEO. “The CTO is usually the quiet one who is observing everything, so it’s interesting to see the CEO from a different angle.”
“I also do it to see how the group dynamics are—are they comfortable enough to talk about that or are they trying to hide something? Sometimes you determine that they don’t actually know each other well enough either.”
See also: Pitching Your Startup? Here Are 5 Red Flags VCs Look Out For
I want to know if they have suffered. Can they survive? Can they be cockroaches?