- Get the meeting: Identify who wants what you have: sector/stage/geography/you. Never go in cold. Get introductions from law firms, accounting firms – build and use your network.
- Get the story out of your mouth: Articulate and package the business model. Provide use cases. Use the “eyebrow” test – try to raise the eyebrows, get them intrigued.
- Tell me about the business of the business: Include the go to market plan, how you will build the business. Lay out the functional skills you will need to hire – as soon as you get funded. Stress your unique advantages.
- Know your Financials (cold): Gross margin, capital needs of the business, estimated valuation, be a careful curator of other people’s money. Get the smartest outsourced financial person possible to show you the way, bring them to the meeting.
- Follow up – and negotiate – appropriately: Business wins, key hires, fund raising, if they hear some other investors are coming in they will follow.
Original Blog Post by PM+CO