It’s easy to get lost in the quagmire of presentation details when you meet venture capitalists- slick slide deck, nice outfit, rehearsed speech, and other finicky details. All that is good preparation.
What they most want to hear is your personal story as an entrepreneur.
“What is the problem you are trying to solve?”
Frame it around “Here’s why I’m spending countless hours of my week to solve this problem.” Part of your story is explaining why the problem you set out to solve is a worthwhile cause. Isn’t that what entrepreneurship is all about? To solve a problem or do it significantly better than your competitors. For early stage companies, investors care about the problem and the opportunity most of all. If the problem does not pass the litmus test, everything else bites the dust.
If you are going to entice people into your dream, you better have a very good reason for doing it. That is where your story comes in, to convince people to join your journey.
“Why do you want money?”
Have a well thought of plan for how to use the capital you are asking for.
There is no hard and fast rule for how much money you need to raise. It is prudent to not underestimate the capital you need for your company to blossom. Many entrepreneurs wish they had more accurately estimated their need for capital, having had to shut down shop for lack of funds. Raising to much too quickly can also be a mistake, as you may spend more than you need or give up too much control over your company.
“Who are your team members?”
You need to convince investors that your people have the right set of skills to solve the problem at hand and will leave no stone unturned in their attempt to succeed. It is often said that the team is more important than the idea.
Tell them your story and tell it darn well.
TiEcon’s VC Connect program for startups is an opportunity to get direct feedback and sage advice from veteran Silicon Valley venture capitalists.
If interested, click here to submit an application by April 30th, 2021. All sessions are on Thurs, May 6, 2021 from 9:00 am – 11:00 am and 1:00 pm – 3:00 pm. Only one founder per startup is allowed per roundtable.
All VC Connect applicants can sign up for a free conference pass using promo code DELL. You will then need to apply for the VC Connect session.
Please refer to our website for the full list of VC participants
Early Stage Funding