5/17/2021 Tip: 4 Steps to Contacting a VC

Today’s Quote

“If everything seems under control, you’re just not going fast enough.”
~ Mario Andretti

 

Today’s Tip

Once you feel you’re ready to approach venture capitalists (VCs), there are 4 things you need to do first: 

  1. Develop a list of VC firms.
    Start by creating a list of venture capital firms. There are many VC directories online you can use.
  1. Narrow your list.
    Each venture capital firm invests based on particular characteristics (e.g., some only invest in software firms, some in late-stage companies, etc.), so you need to make sure your list only includes VCs that are interested in your type of venture.
  1. Make sure the VC is active.
    Many VC firms that have websites aren’t active. That is, they aren’t making new investments. You don’t want to waste your time contacting and talking with these firms.Look at their websites and make sure they’ve made at least one new investment in the past 6 months.
  1. Find the appropriate person to contact.
    This is critical. Venture capital firms are comprised of individual partners and associates. If you contact the wrong one, you’ll be dead in the water. Find the one that you think will have the most interest in your company (based on their past investments/experience) and most interest in you (perhaps they like a similar sport or went to the same university as you).

 

Today’s Resource

Forget Old School!

The “old-school” way of raising venture capital is DEAD! 

And that’s why I created this page for you… to show you how to do it right.

See the right way to raise venture capital <– 

There’s a common mistake almost every entrepreneur makes… and if you approach venture capitalists like most entrepreneurs, you’ll NEVER get funded. 

Here’s how to do it right <—

 

Trivia

Today’s Question: Who is the only entrepreneur in history to build three fortune 500 companies?

Previous Question: Since the 1960s, what advertising objects come in three models called GZ-19, GZ-20 and GZ-22?

Answer: Goodyear blimps.

The GZ stands for Goodyear-Zeppelin, stemming from the partnership Goodyear had with the German company when both were building airships together. 

Who could you partner with that excels at what you want to accomplish? Think about how you could leverage other companies’ strengths instead of reinventing the wheel on your own.

Join our Tip of the Day

To get Growthink’s Tip of the Day delivered to your email inbox, enter your information below:

[for="inf_misc_Pleasegiveusabriefoverviewofyourbusinessandorcurrentchallenges"]
[for="inf_misc_Pleasegiveusabriefoverviewofyourbusinessandorcurrentchallenges"]
[for="inf_misc_Pleasegiveusabriefoverviewofyourbusinessandorcurrentchallenges"]
[for="inf_misc_Pleasegiveusabriefoverviewofyourbusinessandorcurrentchallenges"]
[for="inf_misc_Pleasegiveusabriefoverviewofyourbusinessandorcurrentchallenges"]
[for="inf_misc_Pleasegiveusabriefoverviewofyourbusinessandorcurrentchallenges"]