How do I approach a VC?
Reaching out to a potential investor can be a time-consuming and painful process if you are not connected to the relevant players in your industry or ecosystem.
Based on this first premise, one would agree that a proper introduction by mutual connections should be the first key to press once we decide we are ready to approach a VC. One famous book detailed how a “tribute introduction” by a third party could make you earn trust from your target and successfully close a deal. Follow your peers and use them for your advantage. Establish relationships and build on them. For a VC it will be way easier to be receptive of someone who has already made a, even if quick, introduction rather than talking to someone out of the blue. Even if you are not actively looking for funding, start establishing personal connections as soon as your project starts kicking, therefor you will be using your time wisely in order to get some return. Invest in your network as much as you invest in your business.
Please consider though, approaching a VC without a solid plan can be a disaster and can be a waste of time for everyone. Refer to our first article to know if you are ready.