What if they ask you a question you cannot answer? And what if they don’t “get” your business?
The good news, however, is that most of the work for a pitch can be done in advance. As the saying (almost) goes, proper planning and preparation prevents poor performance.
So what are the five questions you should ask yourself before you get into the “Dragons’ Den” of a venture capital pitch?
(1) Are you talking to the right people?
It seems like such a simple question – after all, you need funding and venture capital investors want to fund interesting businesses. But it’s actually not that straightforward, and this seemingly easy question means many entrepreneurs are wrong-footed before they even get to the pitch.
The reason is this: different funds operate in different markets, at different stages of a business’ development, with different approaches to investing. So do your research in advance – which funds play in your space and back businesses like yours? This will save you – and your potential investors – a great deal of time in the long run.
Read more on the next page for the other questions you should prepare for.
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