A lie from a startup founder? For investor Tatiana Ondrejkova of Pelikan.sk, it’s the immediate end of negotiations

A successful startup needs more than just a good idea and ambition. It needs trust – and trust is hard to build, but easy to lose. Tatiana Ondrejková, who is behind the success of many successful projects, knows this from her own experience and she revealed some insights in an interview.

As an experienced angel investor, she has seen hundreds of pitch decks and met many founders who dreamed of their project being the next unicorn. But not all dreams turn into reality.

What is the biggest ‘red flag’ when investing in a startup?

“When we catch a founder in a lie, it’s a clear signal for us to leave,” says Tatiana matter-of-factly. And it’s not just about outright lies. The problem also arises when founders are unable to have a constructive dialogue about sensitive topics. In the startup world, where every decision is crucial, investors can’t afford to work with someone who obfuscates the facts or avoids uncomfortable discussions.

But it’s not just about the character of the founders.

Where do startups make the biggest mistakes?

Tatiana points out that many startups fail even before they reach their first investors. They often come unprepared – they can’t discuss numbers, they don’t know their competition and, perhaps most surprisingly, they remain trapped in a Slovak bubble. “They think very little or not at all about expanding into large foreign markets,” he notes.

What makes a good startup interesting?

When we look at successful pitch decks, the first thing that should catch our eye is not the endless spreadsheets and complex analysis. According to Tatiana, the first two pages are key. “If they can’t clearly explain what problem they’re solving on them, it’s very likely that the clients won’t get it either.” Equally important is who is behind the project – what experience the founders have and whether they can actually implement their plans.

What to look for before investing in venture capital?

For investors, timing is everything. “Venture capital investing is really about timing and what opportunities I have,” explains Tatiana. Even the most successful investors don’t put everything on one card – they constantly monitor the market and look for projects with real growth potential. If you want to know more about how to succeed in attracting investment or how to avoid the most common mistakes, now is your unique opportunity. Tatiana Ondrejková will be one of the keynote speakers at the largest Slovak conference on selling and investing in companies, which will take place on 13 March 2025 in Bratislava.

For business owners and potential investors, this is the “must have” event of the season. Don’t miss the opportunity to be where the most important people in the business meet.