How to get prepared for a VC picth

I just read this very interesting post “How to improve your pitch process with entrepreneurs” in Venturebeat i recommand to any VC or entrepreneur on how a VC should help entrepreneurs for preparing/improving their pitch. It mentions VCs should set expectations/ say no and know how to do it / keep in touch

I can tell you the approach to pitch meetings by VC’s vary greatly. There’s a reason companies like Sequoia and Benchmark get so many great deals, and it’s not just because of whom they’ve backed – it’s also because of how they approach the pitch process.

Fortunately it doesn’t take much to improve your pitch process. It’s really just a simple reminder of a few basic principles of managing entrepreneurs and the process at large

I have met hundreds of companies so far and have pitched VC in the past. There is indeed a vacuum on how meetings should be prepared and what is expected. Because VC meet so many companies they can’t have a real one to one approach on this one and all they can really do i believe is providing very general (to be honest also common sense) guidelines.

But i am asking if providing a global guideline (at least for first meeting after it is become more “personnal”) is really helpful?

The first meeting is about presenting yourself, the idea, the business context and selling the potential of your idea. Personnally i don’t have a preferred format and prefer to leave the choice to the entrepreneur. If he wants to user powerpoint so be it, if not, fine. I don’ really care also about the order and format, how long as it gets to the point.

I have seen many good pitches in all kinds of formats and structures and contexts. The entrepreneur if he’s good will find his own way to present. At least i want to believe so (of course i’d be happy to give global guidance if asked). If i feel there is a potential i am even willing to work with the entrepreneurs in reworking their pitch and preparing for further meetings. I have done it many times. Even if eventually it will benefit to other VCs.

If the company passes the first stage meeting it is indeed the responsibility of a VC to set very clear expectations on the process and items to be presented. We try to do so. Transparently. this one is not easy. Especially for a starter like me.

I agree with the writer about saying “No” honestly which is for me the toughest part of the job. Saying “No” the right way can help the entrepreneur improving, and raising eventually. I see companies i have said “no” in the past and that have improved their approach, my own view has evolved also on the idea since. I am very often tempted to give suggestions too although it reached the limit of what a VC should do in my view since i am not the entpreneur. but i want to believe that it may help. or not. I think it is more about good will.

I also agree with the idea of keeping in touch. An idea can evolve and improve with time. It is also for me VC a way to learn how “wrong” i may have been in saying “no”. This one is very important in my view.

I believe running a pitch is an interatice learning curve. I am still at the beginning of it. Hopefully will do better soon. With the help of entrepreneurs

In a word read this post.

Comments

[Gil]

Ouriel, I agree with your approach not to create a formal format. It might be less "efficient" but I believe you can learn more about the team.