You can never be prepared enough for a meeting with investors. There’s always something you learn at each meeting. Some other question no one has asked before. All can become perfectly legitimate grounds for new ideas of your product’s development.
The question of entrepreneurs being prepared for a meeting with investors keeps surfing in various modes. As someone who was a journalist for many years, I always like to be prepared for meetings and realize it’s hard to be over prepared.
Which is why I smiled when I saw this question on Quora this week:
“What are the signs of an entrepreneur who is over-prepared for meetings with investors?”. I thought this could be posted by someone who watched too many of “The Mentalist” episodes…
David Rose, Managing Partner, Rose Tech Ventures, replied the top rated reply which I am happy to quote for the benefit of my fellow entrepreneurs:
“The sign of an over-prepared entrepreneur is…that he gets funded!
Seriously, it is impossible to be over-prepared when pitching to potential investors. You should know 110% of whatever there is to be known about your business, your market, and your competitors. You should be able to reel off the life histories of yourself and your team. You should be ready to give the investor specific details of every exit and acquisition in your space for the past five years. You should be able to do your full pitch in the dark, without slides, in three languages, both forwards and backwards.
And if you can accurately show how your venture relates to other companies in the investor’s portfolio, and how the investor can specifically help with your company’s future growth…you’ll be perceived as a smart, thorough entrepreneur who really did your homework.
Over-prepared? Nope, there’s no such thing!?”
At this point I need to stop writing my blog and go back to homework. There’s no such thing as over prepared.