How to find the right investor for your business. Make the Goal 100 coffees.
Techstars' Digital 'Investors in Europe' Map - Techstars
Today we invite you to check out the digital version of our 'Investors in Europe' map, helping you find VCs who invest…
- Lock yourself in a room for 3 days and research based on:-
- Size of fund. Does the minimum exit they need for a good exit (rule of thumb = 10x the fund size) match your ambitions.
- Companies they’ve done before
- Stated thesis – do they invest in what you do?
2. Once you have your shortlist then go to each of the linkedins of the relevant people and find everyone you know that they know. Then hustle your way to an intro. Referrals are 100x more effective than cold emails.
3. If that doesn’t work then write a highly personal email (“I see you’ve invested in x, who share my worldview” or “I loved your view on x from your blog”).
4. Run the whole thing from there like a sales process – think of it like a funnel till you complete the deal.
One helpful tip is to give yourself a metric of 100 meetings, then the metric becomes the process. It is a helpful mental trick that stops you getting disheartened ie every day you can say “I’ve done 3 today, 4 more tomorrow”
Why 100? Think of the conversion funnel – if you convert 5%, then 100 is better than 10.
Not comprehensive by any means but most people don’t do the upfront research. That’s the most important thing here… ;)