Dave Bain Profile picture
Jan 31 7 tweets 2 min read
There’s a lot of strong opinions about VC’s from fellow #startups .

I don’t contribute much as my business is very young.

But here are some recent learnings that have really help me with #vcs

1) It’s competitive for VC’s

They are all looking for great #startups

We look for VC’s in predictable places, but they have to scour the world looking everywhere for us

A VC from another continent used a data scientist to find me this year. What?! 🔎
2) Understand what you need

Is it capital, networking or domain specific skills?

If it’s anything other than capital to scale, have a hard think about your team.

VC’s don’t build businesses, they invest in them.

We’re the experts of our businesses. 💪
3) Don’t be shy

VC’s are used to asking pointy qns about a business to assess it.

Are you able to do the same with theirs?

Their feedback wont be in writing (liabilities) but definitely verbal. So ask.

How do you know if you’re a good fit otherwise…?
4) Engaging with a VC is like any B2B sales campaign

People buy from people - get to know them 🤗

No one buys on the first date, so never ask.

Understand their buying metrics and come prepared with answers.

Ask about their timing.
5) Would you invest in you?

Remove emotional bias and see if you’d be happy to write yourself a cheque for $200k+

Chances are you might find it’s not a resounding yes. So work on the risks that make you uncomfortable.

Most likely a VC feels the same.
6) Be patient and enjoy the ride

Success is the destination, but journey is the story everyone will remember 🥳

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