My startup has made good traction in the past in the six months and I’d like to start having preliminary chats with investors to gather their feedback and forge some relationships. Thankfully, through the good graces of a team I met in my coworking space, I have a few intros already lined up. This is actually my third startup, and definitely the most promising. Long story short I made a lot of rookie mistakes with the first one and never really had the cash or manpower support I needed to make #2 happen. But I’m fully invested in this one both in terms of personnel and tech. Just need the right investors. I just worry that investors are looking for geniuses with ironclad backgrounds. Clearly that’s not me. Should I avoid mentioning my past failures?
Any investor will of course perform their due diligence on the startup. During which they will examine the startup in it's entirety including it's product, business and revenue model, initial metrics and will be focusing particularly on the founding team.
Certainly mention that you have a background in entrepreneurship, a founder without one is far more likely to fail than one who has already felt the "trough of sorrow" and will have the balls to ride it out, the acumen to pivot or the wisdom to shut things down if after multiple pivots traction and product market fit have not been achieved.
NB. At Creatella we’ve worked with 20+ startups to test, validate and craft their ideas into MVPs, bring them to market and achieve traction. With extensive experience in entrepreneurship, tech development and growth hacking we’re experts in launching startups. We’ve built a network of successful partners and while building the product is our main focus, it's our pleasure to further assist our partners by connecting them with mentors, offering business assistance and even helping them to secure funding.
In my opinion, yes.
Stop making excuses. Get out there and sell your idea. You'll do great! Failure only makes you stronger.