Five methods for perfecting the art of VC speed dating

Five methods for perfecting the art of VC speed dating

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Recently I had the chance to go to VC within the OC during the Hyatt Regency in Huntington Beach. This {one-day occasion showcased|event tha mixture of panels and keynote speakers, culminating with a fascinating concept that is gathering popularity in the startup community: VC Speed Dating.

The style is pretty self-explanatory. a quantity of endeavor capitalists in attendance rest at tables lining the available space, as the entrepreneurs fall into line behind the VC they’d like to talk to. Each entrepreneur had less than three minutes to pitch the VC and answer any quick questions before moving on to the next person at this particular event.

VC Speed Dating offers a great possibility to get some face time with numerous possible investors in a short span of time. Its fun, but can be stressful, so check out suggestions to assist you to optimize your experience:

Research your options

The seminar will almost certainly offer a list of the VCs going to the session. Prior to the session, make the right time and energy to research each firm additionally the VC representing it. Make certain you fit their investment criteria. If a company just invests in health care and you’re a media that are digital, don’t waste their time.

Review their portfolio for businesses in your sector. That they have invested in a company where there could be synergy with your starup, bring it up if you find. You may compare you to ultimately an organization in that the firm possessed a great exit, but ensure you usually do not compare you to ultimately a business that crashed and burned — and never state you will be the following Instagram for your industry (you will be astonished at how frequently this occurs).

Finally, try to find typical ground between your VC and yourself which will help move you to unforgettable. Review their LinkedIn along with other online pages to see where they went along to university or graduate college, and view how many other organizations they will have caused. Read their tweets and their web log to learn a common recreations group, a present travel location, or other area for which you might be able to connect.

Nail your elevator pitch

If you’re happy enough to possess two and a half mins, like I became, be ready to lay away all of the most essential areas of your endeavor in the 1st moment. VCs need to know the difficulty you’re solving for the consumer, your competitive benefit, the way you generate income, any traction you’re looking for (resources, capital, etc.), among other things that you’ve gained in the marketplace and what. Make sure to offer sufficient information to make them really want to hear more.

Be prepared for questions

The target along with your elevator pitch would be to make the VC intrigued sufficient to wish to find out more. They are going to probably ask you concerns after and during your pitch, that you’re prepared so it’s imperative. Prior to the pitch session, show up with a summary of concerns that you’d expect a VC to inquire about and figure your answers out. You will be able to lead the VC into asking questions about key points you touched upon if you present your pitch right.

Some topics that are popular are more likely to appear are barriers to entry, prototypes, burn price and competition available in the market.

Browse the competition

While waiting lined up, listen to the pitches prior to you, assess the facial responses of this VC, and analyze the chance that the business owner before you decide to is presenting. Make use of your findings to bolster your pitch, avoid mistakes, and appeal towards the VC’s passions.

Constantly follow through

When the session has ended, politely require a company card and then leave yours regarding the dining table too. Take note of any particular records in the VC’s company card, that you simply should be able to touch upon in a email that is later telephone call. If you have a networking or cocktail reception after the session, remain for a little, as there might be a chance to produce a contact that is second.

Make sure to follow through with a contact 24 hours later, whether or not your venture had beenn’t a fit — you never understand just what ventures you may possibly have later on. In your e-mail, remind the VC who you really are and what your startup is, thank them for his or her some time attach any information they could have required. They truly are certain to be overwhelmed with email messages after the occasion, so don’t expect a prompt response. When you have perhaps not gotten an answer following a days that are few politely follow through with another e-mail.

Never ever be rude or pushy, given that VC community is a tiny one — a single review that is bad one VC may harm your odds of dealing with other people.

Kevin Tighe II currently resides in Los Angeles where he functions as the principle advertising Officer at Verifico, the marketplace that is leading customers to firmly link and conduct deals with verified separate economic specialists. He could be additionally the co-founder of Inflite and is dedicated to many other startups that are tech/entertainment-related.

The Young Entrepreneur Council (YEC) is definitely an invite-only nonprofit company composed of the world’s most promising young entrepreneurs. The YEC recently published #FixYoungAmerica: how exactly to reconstruct Our Economy and Put younger Us americans back into Work (for Good), a book of 30+ solutions that are proven help end youth jobless.

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