Today my partner and I went to see Nice, the fifth investor we’ve met, also the most likely one. Nice is a nice man (if not his name will be so funny), this is the second time we met, felt comfortable. Sometimes investors want to see our financial statement right away, it’s like when you’re having a blind date, and your date ask if you’re good in bed in the middle of the dinner. You would be never prepared.
The other day Alex Chen from EZTABLE (in Chinese) came back to appWorks to give a speech about this, I finally got it, VC can be your lovers, your friends, your business partners and many things. Here’s some notes about that speech.
1. Investors are emotional
Treat them like customers, friends, NOT rich people. Even if the investor likes you, doesn’t mean he will therefore invest you. You should treat them like a customer, promote your product and plan. To let them know how passionate you’re at your product.
2. Focus on the Mr. Right
Focus on the largest fish, the others will follow. As for which one is the largest, you have to observe and you’ll find it. Some VCs like to be a pioneer, some like to be a follower.
3. See the boss
Meeting with an investor is like a normal business meeting. Try your best to see the boss. The first time you see the investor, win his heart by being friendly without bluffing too much, make him want to talk you up in front of their boss.
4. Know your goal
Don’t be greedy & short-sighted. Make sure what’s the most important thing you need. Capital or resource? In the beginning it will be easier if you ask for more resource than the cash, because this will make you grow and bring more capital.
5. Keep in touch
After you meet a VC, whether if there’s a good result or not, keep in touch. Every time you achieve a goal, get to a milestone, launch a new feature, or have a small success, email them. Let them know your status. If you put them aside for a long time and suddenly want to talk to them, it will be a bit strange.
“Treat them like your Board, before they are on your Board. — Alex Chen)”
6. Be yourself
Let them know the real you, good and bad site. Because they will know it anyway. And if you don’t be yourself, you will mess things up all the time. Be honest.
7. Connect to the ecosystem
Learn to be lonely but still motivated, in the meantime, go to meetups, mixers and go networking with others. Share your status and get meeting with the teams you like. You should be able to be alone and social. Open your mind. This will sometimes make luck in a way that you would never think of.
Good points from Alex Chen. Thank you! We’ll meet the VC again soon and go into detail, will share more stories here.
PS. Sometimes I’m not sure about the wording, if you see any error about this please let me know.