Pitching is an important part of business growth for any company in its early stages, but the process can be incredibly frustrating. Getting investment is crucial to the success of your project, but how do you get the attention of a venture capitalist (VC).
It can be extremely difficult to get a meeting with a VC, especially if you want to speak with a top-tier investor. However, there are some ways that you can increase the likelihood of them meeting with you, and eventually investing in your business.
Identify the right people
It's unlikely that you'll get a response from an email directly to a VC. Your request for a meeting will just get lost amongst the thousands of other people who are doing the exact same thing. You need to find people that can recommend a VC to you.
CEOs are in a fantastic position to do this. They are brilliant connectors and to have got to their position, they will have met with and convinced a lot of VCs. This experience is invaluable and makes CEOs a contact you need.
However, you may find it difficult to persuade someone in this position to let you into their lucrative network, especially if you're in the same industry as them. So you need to meet with them before they become a success. Networking events are a fantastic way to start these relationships that can benefit you down the road.
Avoid the wrong ones
A lot of startups will fail so it's important to be able to identify the CEOs that stand the strongest chance of succeeding, and putting your efforts into nurturing these relationships.
You should also avoid investors that aren't willing to put money into your business. Even if they are willing to recommend you to one of their associates, the first question the VC will ask is why your contact isn't investing in your venture.
Secure the pitch
Once you get the VC meeting, you need to make sure that your pitch is going to deliver. You'll need to do your research and ensure that you know exactly what you can offer the investor.
The more you prepare yourself, the more likely you will be to secure investment from them. You need to present a business case that reassures them that parting with a large sum of money will work in their favor so be sure to do your research and provide specific benefits that they’ll be interested in.