Why execution creates more urgency than pitch decks

Founders spend weeks polishing pitch decks, refining narratives, and perfecting slides, then wonder why investor conversations still move slowly.

The truth is that urgency doesn’t come from storytelling alone. It comes from momentum.

Investors move quickly when progress is visible, credible, and compounding. Strong execution creates pressure to act. Weak or static progress invites delay, no matter how polished the story sounds.

This article breaks down what actually triggers investor urgency, how to time outreach around real progress, and how to demonstrate momentum during a live raise, without hype or theatrics.

Investors don’t rush because the story is good. They want to see a business which is growing.  

“Investors are paid to say no. Momentum is what turns no into now” - Mark Suster, Managing Partner of Upfront Ventures.

Why great decks rarely create urgency on their own

A strong pitch deck is table stakes. It helps investors understand the business, the market, and the ambition, but it rarely changes when they decide.

That’s because urgency isn’t emotional, it’s risk-based.

From an investor’s perspective, the question isn’t whether this a good story, but instead: 

• Is this company becoming more valuable without me?
• Will waiting make this deal worse?
• Am I at risk of missing access?

When the answer to those questions is unclear, investors default to delay.

As venture capitalist Bill Gurley has written, investors optimise for optionality until momentum forces a decision. 

A pitch deck explains why a company might win. Momentum shows that it is winning.

The traction milestones that actually trigger action

Not all progress creates urgency. Investors are looking for inflexion points, not incremental improvements.

Common milestones that reliably change investor behaviour include:

• Revenue inflexion. First meaningful revenue, a step-change in MRR, or a clear acceleration in growth rate.

• Customer proof. Landing a recognisable customer, expanding usage across teams, or evidence of repeatable demand.

• Product breakthroughs. Shipping a long-awaited feature, solving a core adoption blocker, or moving from pilot to production use.

• Distribution traction. A channel starting to work predictably through repeatable acquisition.

Paul Graham has consistently argued that growth is the most reliable signal of startup health, precisely because it’s hard to fake. 

“The only essential thing is growth. Everything else we associate with startups follows from growth” - Paul Graham.

What matters is the direction and pace of change. Investors react to inflexion points, not steady-state progress.

Timing outreach around real progress 

One of the most common fundraising mistakes is starting outreach based on runway alone.

• Founders think: We have six months of cash, it’s time to raise.
• Investors think: What’s changed since the last update?

Urgency increases when outreach is anchored to a specific, recent win, such as reaching key monthly revenue milestones or reaching a certain number of customers. 

That doesn’t mean waiting for perfection. It means avoiding the trap of raising during a flat period.

Y Combinator has repeatedly advised founders to raise when momentum is visible, even if the company still feels early internally. 

Why momentum matters more than stage

Founders often use we’re still early as a hedge. It feels humble, signals upside and keeps expectations flexible.

But to investors, it often translates as:

• Unclear proof points
• Unvalidated assumptions
• Optional, not urgent

Early-stage investing is about risk. A company with fast-moving execution can feel urgent even at pre-seed. A company with slow progress can feel early forever.

Positioning sets expectations before details are evaluated, and the same applies to fundraising signals. 

If everything is framed as tentative, investors behave tentatively.

How to show momentum during a raise

Momentum isn’t something you should be able to demonstrate continuously. Practical ways to do this during a raise include:

• Structured investor updates. Short, consistent updates showing progress since last contact, with wins, learning, and movement.

• Visible cadence. Shipping, hiring, revenue, partnerships. Show that something changes every few weeks.

• Narrating progress, not promises. Focus updates on what happened, not what might happen.

• Parallel conversations. Investors move faster when they know others are paying attention. 

Visible progress reduces perceived risk. According to First Round Capital, regular updates significantly increase investor engagement and follow-on interest.

“The best founders don’t tell investors what they’re going to do, they show them what they’ve already done.” - Paul Arnold

Momentum vs hype

Urgency is not the same as pressure tactics. Common missteps include:

• Artificial deadlines with no real demand behind them
• Overstated pipelines that don’t convert
• Inflated metrics without context

These backfire because experienced investors can distinguish momentum from noise.

Real momentum is boringly consistent. It shows up in metrics, behaviour, and follow-through.

FOMO only works when it’s grounded in reality, otherwise, it erodes trust. Real momentum builds credibility. 

Summary

Pitch decks still matter. They just don’t do the heavy lifting. If you want investors to move faster:

• Focus on execution first
• Time outreach around real change
• Make progress visible throughout the raise

The best fundraising strategy isn’t a better story. It’s a business that’s clearly going somewhere, with or without new capital.

Identify the next inflexion point in your business, and plan investor outreach after you hit it, not before.

Clear ownership supports better decisions. Vestd helps growing companies align people, incentives, and long-term value. Book a call with Vestd to explore how share schemes can support your async-first culture.