
Episode #116
What Investors Learn When They Watch You Talk To Customers
Selling your pitch to an investor is one thing. Showing that you understand how to sell your product to customers is another. Amy Cheetham, partner at Costanoa Ventures, sometimes watches founders talk to prospective customers as part of her diligence. Those conversations can reveal how well they understand the problem they’re solving, whether they can absorb feedback and how effectively they communicate with the people they hope will buy what they’re building. In this episode, Amy explains what she looks for in those conversations, why learning to sell matters for founders, and how distribution can become a moat for AI startups. We also discuss what makes a strong early-stage narrative, how founders without an existing VC network can start building investor relationships, and a simple seven-day experiment for testing an idea with prospective customers. Watch on YouTube: https://youtu.be/GkTaPQ02NG8 RUNTIME 46:20 EPISODE BREAKDOWN (1:41) Costanoa "will invest really as early as you can imagine." (5:33) ”It's not just fundraising as a skill. We're understanding how founders sell to customers.” (21:38) If you can't explain it, you can't sell it (29:58) In the application layer, distribution is the moat (34:50) "My founder archetype has always been domain experts." (38:30) Start cultivating relationships with investors before you raise (44:07) Validate your startup's right to exist with this 7-day experiment LINKS Amy Cheetham Costanoa Ventures How to Run Efficient and Effective Early Stage Board Meetings , TechCrunch Ivo Marble Health Are you building something that’s hard to explain? If you’re building something that’s hard to explain, that’s often a sign you’re working on something interesting, but it raises the risk that you’re missing out on fundraising, sales, hiring, and media opportunities. I help early-stage founders sharpen the narrative : what matters, why now, who needs to care, and why they’re the right team to make it happen. If you’re preparing for a raise, launch, important customer meeting, panel, or hiring push, I can help you pressure-test the story before the stakes get higher. Visit the Fund/Build/Scale website to learn more, or email fundbuildscale@gmaii.com Learn more SUBSCRIBE Get the Fund/Build/Scale newsletter on Beehiiv: https://fundbuildscale.beehiiv.com/ ↔️Follow FBS on LinkedIn: https://www.linkedin.com/newsletters/7249143254363856897/ Watch FBS on YouTube: https://www.youtube.com/channel/UCFFH4cs2B1BKatPGs8SFRJw






