Investors passed on our pitch until we got external input

We were very successful in our seed rounds and raised over $200K. We had convertible notes and were convinced we had the pitch right for additional investors. We were meeting our operational and strategic benchmarks. We lined up a number of investors for our Series A round.

We prepared the pitch deck and sent it out. We did not get any external input about the deck because we had been so successful with the seed round. We met the first investor who was not overwhelmed by the business idea or our presentation. He did not see how the business could scale even though our presentation explained that. He did not think the addressable market was big enough even though we showed it was one of the largest markets in our country. We went away and decided that the investor was not that smart. 

We gave the same presentation again to another set of investors and their reaction was pretty much the same. A third investors gave the same feedback. Finally we decided that it might be our investment deck and pitch that was our fault. We asked trusted friends and advisors to review them - apparently things that were obvious to us were not so clear in the presentation. We incorporated this feedback and redid the deck and pitch. We rehearsed in front of them and improved our message and focus. The next investor decided to invest in us.