Five methods for learning the creative art of VC speed dating

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Not long ago I had the chance to go to VC within the OC in the Hyatt Regency in Huntington Beach. This {one-day occasion showcased|event tha mix of panels and keynote speakers, culminating with an appealing concept this is certainly gathering popularity in the startup community: VC Speed Dating.

The idea is pretty self-explanatory. a wide range of endeavor capitalists in attendance to use tables lining the room, although the entrepreneurs fall into line behind the VC they’d like to speak with. 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 chance to get some face time with numerous possible investors in a brief period of the time. It’s fun, but could be stressful, therefore check out ideas to assist you to optimize your experience:

Do your research

The conference shall almost certainly offer a range of the VCs going to the session. Ahead of the session, simply take the right time for you to research each firm as well as the VC representing it. Ensure you fit their investment requirements. 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 also compare you to ultimately an organization where the firm possessed a exit that is great but ensure you never compare you to ultimately a business that crashed and burned — and never state you might be the following Instagram for your industry (you could be surprised 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 as well as other online pages to see where they decided to go to university or school that is graduate to discover the other organizations they usually have caused. Read their tweets and their web log to discover a common activities group, a travel that is recent, or just about any other area for which you could possibly connect.

Nail your elevator pitch

If you’re happy enough to possess two . 5 moments, like I happened to be, anticipate to lay down most of the most critical elements of your endeavor in the 1st moment. VCs need to know the issue you’re solving for the consumer, your competitive benefit, the method that you generate income, any traction which you’ve gained available on the market and just what you’re in search of (resources, capital, etc.), among other activities. Make sure to provide adequate information to make all of them want to listen to more.

Be equipped for questions

The target together with your elevator pitch is always to result in the VC intrigued adequate to wish to get the full story. They are going to likely ask you questions after and during your pitch, that you’re prepared so it’s imperative. Ahead of the pitch session, show up with a summary of concerns that you’d expect a VC to inquire about and figure your answers out. If you provide your pitch right, you’ll be able to to guide the VC into asking questions regarding tips you touched on.

Some topics that are popular are expected to show up are barriers to entry, prototypes, burn price and competition available in the market.

Take a look at competition

While waiting lined up, tune in to the pitches prior to you, assess the facial responses regarding the 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 errors, and appeal towards the VC’s passions.

Constantly follow through

After the session has ended, politely require a company card and leave yours in the dining table also. Jot down any particular records regarding the VC’s company card, that you simply should be able to touch upon in a email that is later telephone call. When there is a networking or cocktail reception after the session, stay for a little, as there might be a way to create a contact that is second.

Make sure to follow through with a contact the following day, whether or not your venture had beenn’t a fit — you will never know exactly what ventures you have as time goes by. In your e-mail, remind the VC who you really are and exactly what your startup is, thank them due to their some time connect any given information they might have required. They have been certain to be overwhelmed with email messages after the occasion, so don’t anticipate a prompt answer. For those who have perhaps not gotten an answer after a day or two, politely followup with another e-mail.

Not be rude or pushy, once the VC community is a tiny one — a single review that is bad one VC may harm your odds of working together with other people.

Kevin Tighe II presently resides in Los Angeles where he functions as the principle Marketing Officer at Verifico, the leading market for customers to firmly connect and conduct deals with verified separate economic experts. He’s additionally the co-founder of Inflite and it is committed to many other tech/entertainment-related startups.

The Young Entrepreneur Council (YEC) is definitely an invite-only nonprofit organization composed of the world’s many promising young business owners. The YEC recently published #FixYoungAmerica: just how to reconstruct Our Economy and Put younger People in the us back into Work (for Good), a novel of 30+ proven solutions to help end youth jobless.