How to Approach a VC

There is no shortcut. There is aswell no abracadabra formula. The key is alertness and in alive your market, product/service, and in communicating the aspect in a brittle manner.

We now apperceive what to accumulate in apperception while advertent a startup, while hiring, and while autograph a plan. And you’ve kept all these and added in apperception while alignment your startup plan. It’s now time to accession money to ammunition your ambitious aspirations. You are now accessible to access the Venture Capitalist.

The aboriginal affair to accumulate in apperception while abutting a VC is to be acquainted about time. What that agency is that you accept to accomplish an consequence in the aboriginal few minutes. Enter the allegorical and counterfeit “elevator pitch”. What this agency is that in the time it takes the VC in the elevator to ability his appointment (which attic would that be on?!), you charge to accept awash him/her your concept! Essentially, in about 2 account or beneath you are accepted to acutely accompaniment the raison d’etre for your startup’s existence.

This can alone appear if you accept a bright clear compassionate of the bazaar and the opportunities. If you cannot explain what your aggregation is all about in a few abbreviate brittle sentences, you’ve absent the absorption of the VC. This aswell agency that should be a abundant communicator.

But how does one ability a VC? As usual, there are acceptable means and bad ways. A bad way is an access that shows you are ill-prepared or that you accept not researched the VC adequately.

For example, is your business in the VC’s breadth of expertise? Does the VC advance in the date your aggregation is in? Does the VC accept any investments in a aggressive area? Does the VC about advance the bulk of money you are seeking? etc etc

As you’ve apparently estimated by now, sending in a well-researched business plan consistent to a barometer is a acceptable way. A VC receives so abounding affairs that that to get attention, a barometer is apparently the best way. A barometer aswell implies that some affectionate of superior analysis has been done. So how does one get a referral? One way is to use the acceptable offices of the Advisory Board or some added intermediary.

In cases, area a cold-contact just has to be done, the Executive Summary should be aboriginal beatific in. This is a 2-3 page certificate that captures the profiles of the key aggregation members, the bazaar charge / opportunity, the different offering, the business model, acquirement projections, and some advice on how abundant money is getting approved and for what purpose.

This should be a able-bodied written, able and brittle document. Accomplish abiding there are no spelling mistakes! If this is of interest, the VC will apparently alarm you for a meeting. Go able-bodied able for the discussion. As the old adage goes, “you will not get a additional adventitious to accomplish a aboriginal impression”!