Interview with a seeder: “All I need to know before considering an introductory meeting”
I had an opportunity to sit down with one of the industry’s most respected seed and acceleration capital providers.His message was amazingly simple….
Investors are inherently lazy and we are overwhelmed.
“There is no need to overcomplicate the message and definitely no need to send over piles of information. Long emails actually scare me.”
Dispelling the myth of the cold, emotionless seeder….
He and his team meet with about a quarter of all of the emerging managers that come through their pipe. When you include second and third meetings, this ends up being an enormous number of conversations.
They obviously care to get it right and despite generally held beliefs, do want to hear what managers have to say.
His take was that it does not require all that much for a manager to distinguish himself. It comes down to just being smart in terms of how they deliver their message.
The four questions
So, what are the first things he wants to know prior to considering a meeting?
1). Who are you?
A great pedigree almost always “earns” a conversation
2). What do you do?
Give me your edge in clear and concise language – again, no need to get fancy
3). What exactly is the opportunity?
Demonstrate there is something unique here – and that it can scale
4). Why now?
Why should I make this a priority?
Far too many people “do it backwards”. They first ask for the money and then build their company.
Demonstrating that you are at least in process of forming your company, have office space and have taken the time to build a professional looking website and a well-presented, thoughtful marketing deck all adds to your credibility.
“If you don’t see the value in investing in yourself, why would I? It makes the entire opportunity less compelling.”
By JD David