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If you hear an angel/VC saying they're interested in investing in you but they haven't done so within a couple of meetings, politely walk away. When you're in

by aagha 11y ago

If you hear an angel/VC saying they're interested in investing in you but they haven't done so within a couple of meetings, politely walk away. When you're in the seed stage, angels are investing in you and the idea. Some will want to know about traction MRR (walk away)and others will want to do deep-dives of your concept (again, walk away).

josh_carterPDX 11y ago
It's funny. I read this and thought about a meeting with a VC a friend of mine had where the VC Partner was on his phone the whole time. My friend suddenly stopped talking and sat there for a good minute before the VC realized he had stopped. When he asked why he stopped, my friend said that he took the meeting to get his full attention. After a while the VC did it again. My friend closed his laptop and walked out of the building without saying a word. Weeks later they closed their seed round without that firm and now they're growing like crazy. I'm sure that VC Partner is kicking himself for being so inconsiderate.
- jacquesm 11y ago
  That's super rude and your friend is incredibly patient for even giving the guy another chance. I'd have walked out on the first time.
- AndrewKemendo 11y ago
  I've seen this so many times and did the same thing. Actually turned out about the same for us, so I'm glad other people aren't taking any guff.
jacquesm 11y ago
You are 100% spot on. I've been part of 3 seed rounds, and one of those had a bunch of savvy investors jerking the founders around waiting to see how desperate they would become before investing (better terms I guess). I didn't want any part of it, called a meeting with all the wanna-be investors and the two founders and committed on the spot. Then those that would have eventually invested all followed afraid to miss out on the deal as it was set at that moment (which was a pretty sweet one for the founders). So if you are in a situation like this force their hand, the ones that are in will still be in and the ones that were just dicking you around will bow out right away. The company is still around, they're doing fine. They will never be a 'homerun' but I don't care, they're good people and they work hard, it's just that their pivot turned out to be less of a money maker than the project they envisioned starting out (it was either pivot or die, I give them great respect for staying alive and generating a ton of work during the last 8 years), and I'll always have their back, no matter what.

by aagha 11y ago

josh_carterPDX 11y ago

It's funny. I read this and thought about a meeting with a VC a friend of mine had where the VC Partner was on his phone the whole time. My friend suddenly stopped talking and sat there for a good minute before the VC realized he had stopped. When he asked why he stopped, my friend said that he took the meeting to get his full attention. After a while the VC did it again. My friend closed his laptop and walked out of the building without saying a word. Weeks later they closed their seed round without that firm and now they're growing like crazy. I'm sure that VC Partner is kicking himself for being so inconsiderate.

jacquesm 11y ago
That's super rude and your friend is incredibly patient for even giving the guy another chance. I'd have walked out on the first time.
AndrewKemendo 11y ago
I've seen this so many times and did the same thing. Actually turned out about the same for us, so I'm glad other people aren't taking any guff.

jacquesm 11y ago

You are 100% spot on. I've been part of 3 seed rounds, and one of those had a bunch of savvy investors jerking the founders around waiting to see how desperate they would become before investing (better terms I guess). I didn't want any part of it, called a meeting with all the wanna-be investors and the two founders and committed on the spot. Then those that would have eventually invested all followed afraid to miss out on the deal as it was set at that moment (which was a pretty sweet one for the founders). So if you are in a situation like this force their hand, the ones that are in will still be in and the ones that were just dicking you around will bow out right away. The company is still around, they're doing fine. They will never be a 'homerun' but I don't care, they're good people and they work hard, it's just that their pivot turned out to be less of a money maker than the project they envisioned starting out (it was either pivot or die, I give them great respect for staying alive and generating a ton of work during the last 8 years), and I'll always have their back, no matter what.