What Happens in the Meeting
- Meetings with venture capitalists are also referred to as "the dog & pony show." It provides the first opportunity for investors to meet the management of your company face to face and assess the people behind the business. You could have a brilliant business plan backed by poor management. This will only become apparent to the venture capitalist in the meeting.
- There is an old British banking expression that asks: "Is someone the horse for the course?" In other words, do you have the right management team for the task at hand. It then follows that different horses are needed for different courses.
- The point of this initial meeting is to test the management face to face. The venture capitalist wants to build confidence with the management team.
- The intermediary�s prime role is to get a "dog & pony show" together with a number of venture capitalists.
- The venture capitalist may question your business plan to test you. Make sure to have someone with you who understands the finances and who knows the product or technology.
- The meeting will usually start off with a 5 minute update as to what has happened since you submitted your business plan. The rest of the meeting will be a question and answer session.
- People like to do business with people who they have an affinity for. The development of trust between yourself and the investor is paramount. They must get a feeling that they can work with you and that there is positive chemistry.
- As an example, an entrepreneur who walks into a meeting dripping in gold, diamonds and flamboyant suits will have a hard time raising capital because the venture capitalists will not feel comfortable with this person.
- There is an old British banking expression that asks: "Is someone the horse for the course?" In other words, do you have the right management team for the task at hand. It then follows that different horses are needed for different courses.
- The point of this initial meeting is to test the management face to face. The venture capitalist wants to build confidence with the management team.
- The intermediary�s prime role is to get a "dog & pony show" together with a number of venture capitalists.
- The venture capitalist may question your business plan to test you. Make sure to have someone with you who understands the finances and who knows the product or technology.
- The meeting will usually start off with a 5 minute update as to what has happened since you submitted your business plan. The rest of the meeting will be a question and answer session.
- People like to do business with people who they have an affinity for. The development of trust between yourself and the investor is paramount. They must get a feeling that they can work with you and that there is positive chemistry.
- As an example, an entrepreneur who walks into a meeting dripping in gold, diamonds and flamboyant suits will have a hard time raising capital because the venture capitalists will not feel comfortable with this person.
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For more information, visit www.EvanCarmichael.com. |
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