In this episode, Volchek, who has been both an entrepreneur and an investor, shares his insights and recommendations on how to approach investors for a startup.
As with enterprise B2B sales, it’s always a good idea to use connections to get in touch with investors. It can be a great idea to ask one of your angel investors, if you already had a “friends and family” round, to introduce you to VCs they trust. But don’t fret: the good news is that VCs do read all of your emails. So, even without connections, with the right product and a strong presentation, you’re likely to draw their attention to what you have to offer.
Among other important recommendations on how to approach investors for funding, Volchek emphasizes that founders need to be very upfront about the stage they are in since VCs make decisions on where to move based on this information.
At Las Olas, they focus on early-stage startups. But it can mean different things. Thus, they had experience with investing in a startup both before and after they started monetization. The key is in presenting the pain your product is solving and explaining what makes you believe you have found your perfect product-market fit and your go-to-market strategy.