Loading ...This morning, I was surprised to see two separate VC posts on the same topic - the entrepreneur’s initial pitch to a VC. Both agree in parts and disagree in others. If this sound interesting, check out this and this.
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Hi Anand,
It was interesting to read the two posts but I thought that the two disagree at a very basic level - Who controls the meeting! While I understand the importance of the entrepreneur to be well prepared, I’m going to have to go with Ed’s view of allowing the VC to direct the flow of the meeting. What would your take on this be?
Thanks.
Ananth
I am a strong proponent of being flexible with one’s agenda, both when pitching to a VC and otherwise. The objective is to get the key messages across by the end of the discussion, rather than to follow a fixed sequence of slides/topics. I see it less as who controls the meeting and more as making sure a decent conversation happens.
I liked the Alpha version comment from one of the posts… The piece I liked is quoted below.
The Demo: First, if you have any web-based business, I would hope that you have the wherewithal to have an alpha version running. As we all know it is cheap to start a company, and if you have not taken the first steps to get a product/service up and running, I am going to wonder whether you have the technical know-how to make it happen or the passion and risk-seeking behavior to be an entrepreneur. I love it when entrepreneurs have sunk some of their own money into their business or substantial amounts of time to turn their dream into reality. This shows me a real level of commitment.
The key in meeting a VC is to get your story across and also to guage whether you want this VC to be married to your startup. This is NOT a game of who controls the meeting. It’s a game of the entrepreneurs being succinct enough in showing a deep understanding of the opportunity they are targeting. Communicate why YOU the entrepreneur are taking a gamble on this opportunity by forgoing your great corporate offers.
One HUGE mistake with slide presentations: the slides are there as a framework for the discussion. Don’t be a robot and forcibly plough through each slide. You should be able to to discuss your business plan with zero slides.
Remember, impressions about people are formed in the first few minutes of the meeting. Focus on the key objective for the meeting (with VC or for that matter with a potential customer, potential star hire, etc).