8 Tips for Successful Venture Capitalist Meetings
May 23rd, 2011 | By | Category: Venture CapitalistWhen running successful meetings with venture capitalists there are a number of areas that must be addressed to help you succeed in securing investment. These are 8 tips in no particular order:Not Knowing – VC’s will expect you to knowing exactly what you’re doing! Give them the feeling of doubt and you can wave your money good bye! Typical VC’s invest in less than 1% of everything they see, so you will need to be 101% confident!Pitching – There’s a number of elements which a VC is looking for: personality, confidence, passion, knowledge, intelligence… I could go on… You should know your pitch inside out and back to front. Get ready for some interrogation when you finish too!Question time – This can get tricky, imagine you’re half way through your pitch, and a VC interrupts you with a question that sends you completely off track! You should be able to answer and move on without making is seem disjointed. In most cases you should know the possible questions that each slide is going to throw up.It’s who you know – being well connected can make your life a hell of a lot easier! A great introduction from a friend about your potential business idea should get the ball rolling. Network, network, NETWORK!Research – don’t go to a meeting without knowing the people you are meeting, do a Google Search, check Linkedin! You might find the investors know a lot more about your product than you do!No Braggers – Don’t be a know it all, or try to act smarter than everyone. If you are over confident it may actually turn your VC’s off!Low cost, maximum effort – VCs want to see you being efficient with cash. They will want to know how far you have currently got and with what cash you used.Potential Buyers – so in time, who is likely to buy you out? Do you know who will want to, or be able to afford to buy you out? VCs like acquisition so they can make their money. It’s worth developing a plan or already be starting a plan to attract potential buyers.