Getting venture-capital investors to grow or launch your business is a delicate process. Therefore, you are required to tread carefully. To get the best venture capitalists, avoid these common mistakes:
Don’t go for every VC
Blindly contacting every VCs with a generalized pitch cannot improve your chances of getting funds. Different investors are interested in different types of companies. Before you reach out to a VC, do some research, known the types of companies it invests in and at what company’s growth stage.
Avoid Long PowerPoint presentation
Lengthy PowerPoints presentations leave investors tired and with little time for questions and answers. For a one-hour meeting, it is recommended to have a maximum of 15 slides. 30 minutes should be left for questions.
Pay attention to questions that come up
If VCs interrupt you with questions, don’t hurry through them. Answer the question as complete as you can.
VCs don’t want to hear impractical pitches. Identify your potential competitors and discuss your competitive strategy. Don’t try to sound as if you are the next Google, Facebook or Twitter if you are not.