Advice for Meeting with VC next week

New
jgWX61

New

jgWX61
Nov 6, 2019 8 Comments

Hey Blind-ers,

I'm currently working full-time at a media company and have a side hustle that is doing pretty well. It's a subscription-based service that is pretty high-end and high-touch. One of our members works at a VC and reached out to our community manager about getting in touch with me about investing. We set up a coffee. What should be my objective out of the coffee? Should I bring a pitch deck? So far I've bootstrapped it so I haven't built a deck for investors. We've only so far considered doing an accelerator. I would be looking to do a 500k raise here as a seed round based on our plans.

My background: Founded a marketing startup out of college, 3 YOE as a seller TC: 280k

I'd make less salary as a CEO of the startup but believe in the business and would quit my job immediately if we get the investment.

Would love any input!

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  • New
    Lee G

    New

    Lee G
    I don't know you, your company, the VC, or your situation, so I will just speak from my own experience. If you are meeting for coffee, they probably just want to get to know you. To decide if there is anything worth pursuing. If you don't seem capable of driving your early stage venture to a point that will get them a healthy return, it doesn't matter how good your business model is. That said, I would use this opportunity to get to know them as well. Ask questions about what THEY are looking for, what other companies are in THEIR portfolio that might be able to assist your company, etc. If it is a good coffee meeting you can ask them if they want you to send along a deck. If it is a great meeting they will ask you to send a deck without you having to ask ๐Ÿ˜‰

    Feel free to message me directly if you have any questions. Best of luck to you.
    Nov 7, 2019 2
    • Uber
      fijdejbwbe

      Go to company page Uber

      fijdejbwbe
      I think this is the best advice
      Nov 7, 2019
    • New
      jgWX61

      New

      jgWX61
      OP
      Thanks for this! Yeah I figured a big part of it is them wanting to feel confident in my leadership and ability as an entrepreneur. Those are also some good things to ask.
      Nov 7, 2019
  • NVIDIA
    fmnlaclb

    Go to company page NVIDIA

    fmnlaclb
    What would be the TC expectation for a startup CEO?
    Nov 6, 2019 2
    • Boeing
      ttahee

      Go to company page Boeing

      ttahee
      Its area dependent and company dependent but you usually wanna keep it low. Around 100k. You wanna run a lean business so as to increase the value of your equity rather than your salary.
      Nov 6, 2019

    • Flagged by the community.

  • Read venture deals, ask them what their check range is and if theyโ€™re comfortable being first money in. IMO venture debut or RBF is worth looking at if youโ€™re cash flow positive or have positive ROI for marketing and know what your churn looks like.
    Nov 6, 2019 0
  • Uber
    fijdejbwbe

    Go to company page Uber

    fijdejbwbe
    Don't take other people's advice. Having said that, I think there is far more capital than passionate entrepreneurs. Always keep that in your mind when you are meeting investors. Also, you are much more knowledgeable about this space than anyone else. Be confident, and instead of trying to sell, just tell them a story.
    Nov 6, 2019 0