Two main things come to mind.

• Revenue → how much are you earning?
• User retention + engagement → do customers want to keep using your product?

Here’s the problem: most early-stage startups don’t have customers. Or revenue.

If that’s you, we recommend having thoughtful answers to these two questions:

1. Who's your customer?

Acquiring new customers is the biggest obstacle for most companies. If they can't get customers, they won't survive.

Early stage investors want to see that you know who you're selling to. This way you can create a plan of where to find them and how to acquire them.

So, share details about your customer discovery process. How many people did you interview? How did you find them? What did you learn?

2. How will you find your first customers?

Investors want to understand how founders are thinking about marketing channels.

Even if those channels are non-scalable, your ideas demonstrate that you are resourceful and will be proactive in finding customers... not just reliant on word-of-mouth.

Show the thought process behind how you’ll find customers and you’ll be on your way.

Dive deeper into this topic here.