5 tips for your first VC meeting

I’ve compiled 5 tips that could help entrepreneurs at their first VC meeting. Well, heck, this might apply to all founders too. Take these 5 points as the pre-requisites to meet investors and you’re almost good to go!

1. Do your homework

Know who you are speaking to. Research on the VC firm, the partners, or the associates that you’ll be speaking to. Understand what verticals and which portfolio companies they have invested in. Show that you’re interested to see how you guys can fit well, instead of only wanting their cash. Show them that you are sincere in wanting to know them well, so they will like you as a person!

2. Don’t lie

Be honest, real, and be yourself.

VCs talk to hundreds of startups per month, and go through so many pitching sessions that they can know when you’re telling the truth. Do yourself and your VCs a favour, tell them the truth. There’s no need to inflate numbers, because they will find out someday anyway.

3. How important is my slide deck?

It sure is! Keep your slides to 15-20 slides. Once it goes past 20 slides, the VCs will start thinking when they can end this meeting, instead of thinking of goof questions to ask you. Do not fill your slide decks with words. If research numbers and additional words are necessary, include them in the annex instead. Google ‘best slide decks’ and you should find some good ones for reference.

4. Practise, practise, practise

Even if you have a perfect idea and awesome team, if you do not deliver your speech well, the deal is gone. If your investors cannot even understand your vision, what you plan to do, or is distracted by your bad presentation, he won’t be confident in you and your team as a shareholder. Practise in front of the mirror. Prepare some FAQs that investors might ask (questions are always the same), so you will not fumble.

5. First impression really counts

Don’t be late. Don’t dress shabbily. Yes, startups are supposed to bootstrap. But there’s a difference between bootstrapping and being lazy to dress up. Look presentable, and no shorts or flip-flops!

Also be humble, asking for NDAs before you pitch is a big no-no! The key here is making your VC like you as a person. Even if he does not want to invest in you, if he likes you as a person, he might give you lots of good advice to help you, or even recommend other potential investors and business partners to work with!

Got other tips for pitching to VCs? Share them in the comments below!