Venture capitalists are most likely going to say “no” to you. Perhaps one out of every 100 entrepreneurs who scores a proper meeting with a VC will convince them to say “yes.”
Christian Hernandez of White Star Capital knows that while those odds aren’t great, there are a lot of things you can do to increase them. The entrepreneur who doesn’t do his homework? His actual odds are one in a thousand—at best. The entrepreneur who does his homework? Much, much higher. That magical “yes” isn’t the roll of a 100-sided die; it’s the reward for a great idea, brilliant talent, and a smart vision.
Ask yourself these five critical questions, then read Hernandez’s Medium post for details on how to get a VC to say yes.
1. Is the deal at an appropriate stage for the fund?
2. Is the deal in the geographies where we are active?
3. Does your idea have scale?
4. Can your team pull it off?
5. Is the VC firm’s portfolio constructed in a way that gives you a shot?
The last one, as Hernandez dutifully explains, is largely out of your control—but hey, that’s just part of the fun of being a startup entrepreneur, right?