I have five minutes to present a web app in front of investors (well, actually they are contest judges, but they are still looking for an app that will take off), and then I get five minutes for questions. The judges are looking at both the quality of the app and the room for expansion. My business partner thinks we should spend a lot of time on expandability because it sets us apart from our competitors. I, however, am skeptical about the idea of presenting our least developed features. So how much time should we allot for expansion and future growth?
Don't be! If your base version is not something unique go through it quickly and focus on future development, which makes you different and potentialy interesting for investors.
Suppose you wanted to do facebook with some revoulutionary features. Would you spend time describing what facebook does, or would you say something like: hey we are doing social network which works pretty much like facebook, but has some extraordinary features which do that and that.
In my opinion you should definitely focus on expandabilty (4:1)
I'm an angel investor and lawyer.
I've been to fast pitch events and demo days.
go with a plan to spend half your time on the app quality and the other half on expansion?
You need to do both so you have to convince judges you are strong on both.
When you actually give your pitch to the judges, try to gauge the body language of the judges and adjust it based on their reaction when you're presenting.
This requires you to practice your pitches and practice pivoting to spending more or less time on app quality depending on the judges' non-verbal communication.
Your friend is right, investor is interested ONLY in future growth and expansion. Who cares about the over-optimistic ideas, they need pessimistic view of future instead.