Here are a few tips to improve your chance of securing funding from a venture capitalist (VC):
1. Do your homework on the VC or fund. Before meeting a VC, research his/her interests. In what do they invest? In which areas do they have expertise? Do these align with your needs? Frame your pitch to showcase mutual priorities. You can also perform research to see if the VC’s fund is in a position to invest. A small-size fund may not write big checks, and a fund in its last cycle is more selective on investments.
2. Focus only on relevant information. In your first meeting, don’t bombard VCs with every possible detail about your company. Instead, introduce your company, define the problem you are solving, give details on the market size, and end with a request. Highlight your most important metrics near the beginning, and keep slides short. Too much information too early may be overwhelming. Give VCs just enough information to make them interested and want more.
3. Sell your team. Investors invest not only in companies but in teams. Companies may pivot many times in their life cycle, but founding teams often stay intact. In your pitch, talk about your team and explain what makes it special. Mention the diversity of your skill sets and how this improves your chance of success.
