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A solid lift step can mean the difference between a successful startup launch or a lost opportunity. Even if this is not the ideal solution, it would be good to have your perfect tone in case you meet one day a potential investor.
To make the most of each opportunity, I have created a detailed guide to perfect your presentation:
Attract their attention
What is your role in your startup? Are you the founder? COO? Venture capitalists want to talk to people who have the power to make decisions. Tell them your place in the start-up to tell them that you are a decision maker.
Get them on the hook
You have to find a good sound for your pitch. What does your business do and what is it for? Whether for consumers (B2C) or for businesses (B2B), he must solve a problem. You must indicate the problem and the solution of your company at this stage.
Reel in
You have attracted their attention and they know what activity your problem will solve, it's time to "hit hard". You must specify now how the company intends to make money. Ultimately, venture capitalists will not consider making an investment if the company does not have a clear way to make money. Give them an idea of how the company will generate profits and you will have done your part.
Request a sit-down
Do not forget that you are not asking for a specific dollar amount at this point. You need time to explain the business in more detail. The VC will not write a check on the spot anyway. Whether you're asking for coffee or dinner, it's important to make a report and let them think about your idea before forcing them to invest.
Trust me, they know what you want and it's their job to find new investments, they'll think about it. So ask for their business card and leave from there.
Here are some things to keep in mind:
- Do not give them an appraisal or ask them directly for money at this stage. This is not Shark Tank. If you did your presentation correctly, the VC did not have a chance to speak. If you start giving them percentages and dollar amounts, you lose it. Let them think about it briefly.
- If they say no, do not be insulted. Every venture capital company is different. In fact, the co-founder of Airbnb Brian Chesky released seven rejection emails He received venture capitalists while trying to raise $ 150,000 for a 10% stake in Airbnb.
- It's not life or death. Great opportunities come and go when you are an entrepreneur. If you are desperate, the resume may think that something is wrong. Stay confident and move on to the next one.
- Keep it about 60 seconds. You will not always be in an elevator when you come across a VC, but you should pretend to be. Be brief and conciliatory so as not to feel lost. It will be easier to hold their attention if you can use your pitch effectively.
Elevator locations are intimidating. If you treat your startup as if you were a baby, there are so many things you will want to say about it. However, you have every interest in remaining collected and only providing the most important outlets. With a little practice, you can just get by and get the funding you and your team need to grow to astronomical levels.
Posted on March 17, 2019 – 19:30 UTC
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