The testing effect is defined by Wikipedia as the fact that you more easily remember information you have read by rewriting it instead of rereading it.
Investors remember what they recall from memory better than just hearing the pitch again.
This comes from research showing that taking a test that requires one to write out a response improves retention better than just rereading the material.
This moves the information into long-term memory.
Founders can use the testing effect by asking investors questions about the pitch to exercise recall.
For example, ask the listener, ‘Remember the problem we are solving?’
Give them time to recall it.
If they don’t respond in a timely manner, then give the answer.
This avoids the awkward silence that can arise.
During the Q&A portion, engage the investor in a dialog that recalls key points such as the problem you solve, the solution you offer, and the traction you have.
This will help the investor remember your deal better.
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Hall T Martin is the director of Investor Connect, which is a 501(c)(3) nonprofit dedicated to the education of investors for early-stage funding. All opinions expressed by Hall and podcast guests are solely their own opinions and do not reflect the opinion of Investor Connect. This podcast is for informational purposes only and should not be relied upon for the basis of investment decisions.