Raise Millions by Hustle Fund VC Page 87 were from returning customers, or what it cost to convert a visitor into a paying customer. Spoiler alert: we didn't invest in this founder. But the reason we didn't invest had nothing to do with what his actual numbers were. It came down to the fact that this founder didn't understand what was happening in his business. If the founder had a firm grip on his metrics – even if the numbers were low – it would have shown us two important things: 1. He has thought critically about his funnel 2. He knows what's happening in the business and can iterate quickly. I'll say it again: the actual numbers meant far less to us than the founder's understanding of those numbers. Because without that knowledge, how can the founder know where to focus his time and resources? How will he know what's driving the business, and what changes should be made to improve it? Prepare as much as you can to answer these questions. Respond gracefully and honestly. You’ll be on the right path. hustlefund.vc / @hustlefundvc