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Common Questions and Answers
Pitching to capitalists for a venture capital funding for your startup can be challenging.
That’s because VCs can be selective of the business that they want to invest in. It is their money, after all!
However, it does not mean that they are stingy. Perhaps they do not agree to fund your business because you belong to a different industry. Another reason is that you are not sharing enough convincing information.
That said, we are here to share what you need to prepare before pitching about your startup to a Venture Capital.
The two essential documents that you need to prepare before meeting with investors are:
Your goal is to get funded. That’s why these documents should show investors why it is a great investment opportunity for them. Ideally, these documents should include the following:
Here are other things that you need to keep in mind so that you can prepare yourself and your company for Venture Capital Fundraising:
The most successful founders and visionaries know that what they’re building is something extraordinary. Still, even exceptional products and ideas should be backed with clear goals and objectives.
When it comes to defining your financing goals and objectives, you need to ask the following questions:
By setting realistic, and revenue-focused goals and objectives, you can stay organized as you focus on the bigger picture. This is something that venture capitalists look at.
It’s also vital that you choose co-founders with the same values as you and fill in your organization’s gaps.
Let’s say you’re the person that’s great on the creative aspect and vision. Then you might consider looking for someone who can be the chief operations officer. Your COO can help ensure day-to-day tasks are organized.
Similarly, you should also seek out people that are willing to serve an advisory role. Having well-recognized individuals on your board will advise you on critical functions.
Ideally, it would help if you look for an advisor who can advise where you need to look for your capital and effectively structure your pitch. They should also introduce you to their network of angel investors and VCs who might be interested in hearing your pitch.
However, when hiring an advisor, you shouldn’t be relying on them to do the heaving lifting. You still need to know the fundamentals of fundraising, how you can develop skills that are essential to prepare your pitch, and look confident and ready for any negotiations.
Come up with a target investor list by using the following criteria:
Research as much information as you need about your target investors. This includes their investment portfolio.
So, if you are starting a life science or biotech startup, you might want to check Michelle Dipp’s investments.
Before meeting with a prospective venture capitalist, you need to make sure that you’re adequately prepared.
You should also get online training and certifications to position yourself in your chosen niche. Doing so can also help you define your company’s business model, why it’s unique and worthy of their investment.
Make sure that you stick with the facts and make your pitch concise. Data shows that the average investor spends about 2 minutes and 44 seconds reviewing a pitch deck.
Your investor pitch should include the following:
If you’re relying on a new technology or a much more improved process, you need to file for a patent before looking for prospective investors.
Working with a patent attorney helps you know whether or not your idea is too close or similar to something that already exists. That way, you would know whether you are qualified for patent protection or you need to recalibrate your finances.
As a startup founder, you can boost your chances of closing a deal with VCs if you prepare with due diligence.
The final stage of VC funding is finding alignment within your internal teams, the VC firm, and your legal advisors.
This is a critical time to follow through with commitments you gate the investors. That way, they can rest assured that their money is put to good use.
Venture capital funding comes with a lot of risks and challenges. That’s why you must be knowledgeable about these things before you can ultimately decide. Good luck!
About the author
Juliette Anderson is an Outreach Community Specialist for an e-commerce fulfillment company. She works hand-in-hand with e-commerce stores to achieve optimal sales for four years already. Her specialty lies in social media marketing and paid promotions.