Startup Funding Espresso -- Backfire Effect
Backfire Effect Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing. The backfire effect is a bias defined by Wikipedia as the reaction to disconfirming evidence by strengthening one's previous beliefs. Investors can reject a startup\u2019s pitch if they doubt the premise even if confronted with the facts.\xa0 Providing more facts will only make the investor dig in further.\xa0 To overcome the backfire effect, avoid the topic if at all possible and steer away from it. Don\u2019t confront it head-on as it will distract from the pitch. Coming on strong will only make the investor dig into their original beliefs. Keep emotions out of it. Step back and take a look at it from the big-picture perspective. Identify the core reason the investor does not like your deal and focus on that. Acknowledge how the investor's belief was true at one time but that times have changed and things are moving in a different direction. \xa0 Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding. Let\u2019s go startup something today. _______________________________________________________ For more episodes from Investor Connect, please visit the site at: \xa0 Check out our other podcasts here: \xa0 For Investors check out: \xa0 For Startups check out: \xa0 For eGuides check out: \xa0 For upcoming Events, check out \xa0\xa0 For Feedback please contact info@tencapital.group\xa0\xa0\xa0 Please , share, and leave a review. Music courtesy of .