As an entrepreneur, you are eventually going to ask yourself how to approach investor meetings and the best way to go about it.
Investor meetings are highly important to startup founders. Each one has the potential to get that all-important check or land the lead investor that will make this venture or its next chapter possible.
As such, investor meetings can be a source of substantial anxiety and excitement. Most notoriously don’t work out as entrepreneurs hope. Here’s how to tilt that in your favor, optimize your time and effort for results, and never have a bad investor meeting again.
Be Sure You’ve Screened Them In Advance
It’s essential to screen potential investors and investment firms before even heading out the door, onto a plane, or logging into a Zoom call for an investor meeting.
You not only want to make sure you are dealing with reputable investors who aren’t just trying to get your information but ensuring this is a good fit for both sides. Not just forever, but especially for this round and at this stage. It is essential for avoiding wasting their time and yours.
Your fundraising process will be far more efficient and rewarding if you begin with a tight shortlist of the best fitting and most targeted investors.
Is this the size of check they typically write? Is this the stage they want to invest at? Are they interested in funding your type of venture and product, in this industry, in this location?
Know Your Investor & Partner
When you are looking into how to approach investor meetings you need to be drilling even deeper, make sure you know your investment firm and the individual person you’ll be meeting with before you venture out to that investor meeting.
There is so much information available online today that there is really no excuse for you not to do. Except complete laziness, and who is going to want to invest in a startup with a lazy founder?
This is vital for presenting the right slides in your pitch deck, the words you use in your presentation, and being in a position of knowledge and power in negotiations.
What are their personal preferences and pain points? Aspirations? What about the firms’ pains and goals? What are their limitations or struggles internally with their own investors and timelines? How can you help them move away from pain to more pleasure?
Have Your Pitch Deck Polished
Equipped with the information above there is a good chance you’ll want to update your pitch deck to match. Be sure you have tailored it to fit them the best, and bring out the most relevant points for this specific investor and firm. Know what’s important and appealing for them, and serve it up.
Remember that you need to master the story which is what raising money is all about. This is being able to capture the essence of the business in 15 to 20 slides. For a winning deck, take a look at the template created by Silicon Valley legend, Peter Thiel (see it here) that I recently covered. Thiel was the first angel investor in Facebook with a $500K check that turned into more than $1 billion in cash.
See How I Can Help You With Your Fundraising Efforts
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