Before you sit down at the table, ask yourself.

1. Unit economics

   01Unit economics

   Do you know what it costs to acquire a customer and what that customer earns you?

   Rule of thumb: an LTV/CAC ratio of roughly 3 or more and a CAC payback under 12-18 months are generally considered healthy.

   I have not calculated it, or I go by estimates.I know CAC, but not clearly what a customer earns.I calculate both; the ratio or payback is outside the thresholds.I measure both regularly and I am within the thresholds.
2. Runway and burn discipline

   02Runway and burn discipline

   Do you know how many months your cash lasts and where monthly burn goes?

   Rule of thumb: closing a round often takes months; starting a raise with roughly 12-18 months of runway gives you room.

   I have no clear runway figure.I know roughly, but have not built scenarios.I track runway monthly and know the burn lines.Runway and burn have scenarios, and spend is tied to growth.
3. Retention evidence

   03Retention evidence

   Do customers stay, and can you show it with cohort data?

   The first place an investor often looks is the cohort curve: does it flatten somewhere?

   I have no retention data or have not looked.I know an overall churn rate, no cohorts.I look by cohort; the curve has not settled yet.Cohort curves flatten, or expansion revenue covers the loss.
4. Metric hygiene

   04Metric hygiene

   Do you have a single source of truth and a defined North Star metric?

   If the same metric has three values across three teams, an investor will notice too.

   Each team keeps its own sheet.There is a shared dashboard, but definitions are not written down.Metrics are defined in writing; one source has largely settled.One source, written definitions and a clear North Star; the team uses it.
5. Growth model clarity

   05Growth model clarity

   Can you say which channel or loop carries your growth?

   If the answer is "everywhere", measurement is usually missing. Investors look for one or two main engines and the funnel data behind them.

   I cannot say clearly what works.I have a hunch but have not backed it with data.I know the main channel and the funnel ratios.I know the growth loop, per-channel conversion and the scale limit.
6. Revenue quality

   06Revenue quality

   How recurring and how diversified is your revenue?

   Recurring revenue with low dependence on a single customer is generally valued more highly.

   Revenue is mostly one-off or tied to a few customers.Partly recurring; heavy reliance on large customers.Mostly recurring; some concentration, but monitored.Mainly recurring revenue and a diversified customer base.
7. Real growth reporting

   07Real growth reporting

   Do you report growth adjusted for inflation?

   In a high-inflation setting, nominal growth may not be real growth.

   I only talk in nominal figures.I mention the inflation effect verbally.I calculate real growth but do not put it in reports.I report nominal and real growth together; price and volume are separated.
8. Team and ownership

   08Team and ownership

   Who owns growth, and are the goals measurable?

   A metric without an owner is usually nobody's job. Investors ask who is accountable for each number.

   Growth has no clear owner.There is an owner, but goals are vague.There is an owner and goals; no regular review.Clear owner, measurable goals and a regular review rhythm.
9. Data room readiness

   09Data room readiness

   If an investor asks for the numbers, can you hand over an organized package within days?

   A typical package: financials, customer and cohort data, contracts, cap table, key metrics. Burn multiple is an efficiency measure investors often ask about.

   Documents are scattered; gathering them takes weeks.Most exist, but not in one place.Collected in one folder; not kept current.An organized, current, access-controlled data room is ready.
10. Story

    10Story

    Can you explain the problem, the market and "why now" in two minutes?

    Numbers carry the story; the story gives the numbers context. The two must match.

    My story is unclear, or changes every time.I explain the problem; the market and timing are loose.Problem, market and timing are there; the link to numbers is weak.Problem, market, why now and evidence in one flow.

Answer all questions to see your result.