Re:How Not to Pitch to a Startup
by jaspertheghost on Thursday February 19, 2009 @04:57PM
(#487928)
There's smart and then there's perspective. VCs are smart, but they're looking for perspective. They're cold calling you to understand your company and your space and try to possibly invest in you. In fundamental analysis, they call this the scuttlebutt approach. From our personal experience, we've even gotten partners who haven't done their research. The would immediately want to go into the demo during the pitch. When we meet the occasional partner and associate who actually knows the space and the product, we are more than impressed. In reality, if you only vaguely know the space and you're asking retarded questions about engagement and metrics, you're not really adding value. We judge VCs by their questions.
Fortunately, I've had a few "hero" associates who have dug down deep into my social network and found friends that we share, or read quite a few of my blog posts.
Either way, I've found that these associate calls are a complete waste of time. It can be hard enough getting taken seriously if you aren't brought in by the right partner, and getting funded off of an associate or analyst introduction is very unlikely, despite the fact that each and every one of them makes it sound like they are ready to cut a fat check on the spot.