the (vc) game
DESCRIPTION
Raising money for your company is easy.. if you have VC game! :) Loosely based on the pickup bestseller The Game, Nicolas put together some fundraising advice. Please don't take it too seriously. :)TRANSCRIPT
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How to Raise Money in 9 Easy Steps
VC
Nicolas WittenbornPoint Nine Capital
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About me
I blog (too little) at heyni.co and tweet (too much) @ncsh
Associate at Berlin based early-stage VC Point Nine
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Get familiar with potential investors
Make sure they are investing in your area
And that it’s the right stage
Step 1: Select a target
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Make sure there is a fit!
Not every VC invests in everything
Step 1: Select a target
(Not the typical VCs)
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Find some context
Make subject line & intro count
Have all material at hand
Step 2: Approach & Open
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Don’t ‘shotgun’ your pitch
Your potential investor wants to feel special ;)
Step 2: Approach & Open
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Precise Deck
Financial Plan
First Traction
Step 3: Demonstrate Value
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Don’t overcomplicate it
The material should be concise and easy to understand
Step 3: Demonstrate Value
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BUT don’t make it too simple either
Step 3: Demonstrate Value
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Be Ambitious
But not overconfident
Or unrealistic
Step 4: Manage Expectations
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Step 4: Manage Expectations
Looks good but won’t happen
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Ask for a ‘coffee meeting’
Book a nice hotel, buy flowers & champagne
Step 5: Extract to a seduction location
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Ask for a ‘coffee meeting’
Book nice hotel, buy flowers & champagne
Step 5: Extract to a seduction location
Wait, this was for the ‘other’ Game… … let’s move on to the next step
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Step 6: Make a physical connection
Bring your co-founders
Be on time & prepared for a discussion
Have some slides as backup
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Step 6: Make a physical connectionDon’t be a ‘ballhog’
Let your team chime in
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Identify last question marks
Provide missing data (incl. sources)
Set up reference calls
Step 7: Disarm the obstacles
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Step 7: Disarm the obstacles
Don’t go on vacation during fundraising
Why would you do that?
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Solicit a decision deadline
Communicate that there are other options on the table
Update on major developments (numbers, deals, hires)
Step 8: Pump Buying Temperature
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Don’t name drop (or worse, lie)
Avoid an ‘investor cartel’ forming behind your back
Step 8: Pump Buying Temperature
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Get lead investor to sign a term sheet
Let potential co-investors and/or lemmings know
Close the round & get back to business
Step 9: Blast Last-Minute Resistance
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Step 9: Blast Last-Minute Resistance
A handshake is not a contract (unfortunately)
Keep all options open until the deal is signed
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Ready to make it rain?!
Send your pitch to [email protected] (pls don’t try #5)
Or snapchat your Executive Summary to nc5h(just kidding, but I would be impressed)
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