Noa MatzIn the past three years, I’ve been working closely with VCs, helping them better know and understand the entrepreneurs they are about to put their fortune on. By taking part in hundreds of investment-oriented encounters, I’ve managed to create a vast reservoir of knowledge on this specific topic.
I’m bringing it here to you, formulated into the eight dos and don’ts of meeting an investor for the first time.
1. 3 is the golden number
Most of the investors I’ve spoken to will feel more comfortable giving their money to a three-founder startup team. Why is that?
Four is too much. Think multiplicity of opinions, difficulty in making decisions, and reaching a consensus. A team of two is too small to handle the workload. Having a solo founder makes the investors suspect you have an issue with teamwork, delegating, and sharing the glory.
2. Long-term relationships and former acquaintances
Investors won’t be thrilled to hear you met your co-founder in a meetup the previous evening (true story). Taking the decision of walking this path with a person you barely know shows a great deal about your judgment.
Aside from this, the investor has no guarantee you’ll make a strong team and manage to create a solid working relationship.
Take a mutual trial period before making any commitments or signing contracts with a potential co-founder. Share this with the investor. It’s a good tip whether you’re raising capital or not.
3. Confidence (not arrogance) and enthusiasm
See your potential investor as your biggest customer. Will you show up sleepy, moody, or bored to a potential customer? Obviously not.
Enthusiasm, confidence, and excitement are infectious. Apart from proving to the investor that you can bring amazing energy to the sales pitch, you have the opportunity to convey your passion for your product.
But make sure to bring authentic energy, and don’t overdo it.
4. Resilience
Identifying the existence (or absence) of mental resilience is not an easy task for investors. In order to carry out an investment, they would want to see a vast capacity to cope and recover quickly from failures, adapt to changing environments, and maintain toughness over time and circumstances.
In the first few minutes of the conversation, the investor will usually ask you to present yourself and your personal and professional history. This will be a good time to integrate a short and sweet case study in which your resilience was particularly evident—a story that proves you don’t quit easily and that you try again and again while using diverse techniques to achieve your goals.
