How to Run an Awesome 1st Investor Meeting
Investor meetings are notoriously hard especially THE 1ST MEETING.
Here is how Founders can prepare for and run an AWESOME 1ST INVESTOR MEETING.
1. KNOW YOUR GOAL
First, the obvious.
You only have 1 goal in the first meeting. One goal only!
GET TO THE SECOND MEETING.
This is it.
Of course, if you totally dislike the investor then it doesn't matter, but otherwise you only have 1 goal - MOVE FORWARD TO THE NEXT MEETING!
2. PREPARE, PREPARE, PREPARE
You know where I stand - chance favors prepared minds.
Always start by researching the investor -- please read this thread if you haven't yet.
3. FIRST, MEMORIZE YOUR PITCH
You should be on a script and know your pitch COLD.
Do not improvise. Memorize!
By memorizing your pitch you will ensure consistency and will be able to analyze your performance and improve over time.
4. Three 🔑 POINTS
Pick 3 key points you want investors to remember
WHY YOU
TRACTION
UNIQUE INSIGHT
UNFAIR TECHNOLOGY ADVANTAGE
OTHER
Whatever it is that is REALLY UNIQUE, make sure you mention it!
5. OFFER TO RUN THROUGH THE DECK BUT BE PREPARED TO DITCH IT
You can't always count on walking through the deck!! Some investors want it, but some like me, do not.
Be ready to be FLEXIBLE.
Let investors choose, but make sure to deliver your 3 key points regardless! This is WHY it is SO IMPORTANT to MEMORIZE YOUR PITCH and be FLUENT.
You will likely need to go out of order! Be ready to speak to any piece of the pitch at any time.
6. SAMPLE MEETING OUTLINE
30 mins total time
5-10 mins pitch
10-15 mins investor Q&A
5 mins founder Q&A / wrap up
Likely you will only have 30 mins this is why it is so important to be prepared and ....
7. BE SUCCINCT AND CLEAR
Be nice, but don't waste time on small talk - weather, children, how are you -- all is fine for 1-2 mins but DO NOT WASTE TIME
DO NOT RAMBLE. You ramble you are out.
Practice being both inspirational but short and clear in your answers and…
8. DO NOT JUST PITCH
OMG, please please please please please ....
Don't just pitch.
If you do, this will be 100% pass.
Engage. Inspire. Listen. Involve investors in your story!
9. READ THE ROOM, I MEAN READ THE ZOOM!
Be highly attuned to HOW an investor is reacting and WHAT is interesting to them.
If you just pitch, you are not engaging the investor.
Read their body language. Listen carefully to their questions.
Tell your story in a way that they want to hear it!
Think about it. Thats what you'd want too!
10. BE READY TO BE INTERRUPTED
Some investors, including me, like to interrupt & jump around.
It is not because they are rude. They are trying to get as much information as possible. RECOGNIZE and SUPPORT this.
Investors just need specific data to make a decision.
Help them get the data they need!
11. NEVER INSULT INVESTORS
Lets face it - so many investors have no clue and aren't very good.
Investors ask stupid questions all the time.
Let them.
Don't ever insult investors.
Just take it in. Let it be.
You will be better off for it.
12. NEVER SAY “AS I TOLD YOU…”
Small things matter. Again, just be patient, be respectful.
Some investors push you hard during the first meeting on purpose - to TEST YOU.
Don't take the bait. Stay cool.
13. WATCH THE CLOCK
It is your job to watch the clock.
Make sure you get your 3 key points across
Most importantly make sure you have time for investor feedback and
Wrap up
14. WRAP UP
Always ask two things:
What concerns do you have about the business?
What is the rest of the process from here?
Not what the next step is, but what is the REST OF THE PROCESS.
You should ask that at the end of every meeting.
SUMMARY
To run a great investor meeting:
Research them first
Memorize your pitch
Be flexible
Say 3 🔑 points
Stay cool
Watch the clock
Be sure to wrap up
