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A 7-step method for running effective pitch meetings – TechCrunch

Iddo valley has an infectious enthusiasm for fundraising. He believes that when startup founders know how to raise money, they can find the freedom to confidently approach investors and raise the capital they need to grow their business.

Tal developed his methods over the course of more than 20 years leading five startups. His biggest success story was invi Labs, a smart messaging app that was acquired by Google in 2018 and integrated the technology into Google Messages. When he stepped down as product manager in 2020, the platform had more than 600 million users worldwide.

This article is based on an episode of Foundersuite’s How I Raised It podcast, in which Tal shared his seven-step method for managing an investor meeting, including actionable tips for effectively following up on promising sales pitches.

“Would you enjoy being in a meeting day in and day out with people who are trying to hard sell you all the time?” Iddo Valley

When Tal first started canvassing investors in Silicon Valley, it took him some time to understand the dynamics going on at these meetings.

“Would you enjoy being in a meeting day in and day out with people who try to hard sell you all the time?” he asked.

He recalled trying to hard sell the room for the meeting hour and watched investors’ shoulders tense. “I’ve been trying to teach investors all the information I know about the market and the business, and it’s such an ineffective method,” he said.

Over time, he created a framework that changes the dynamic. It works so well, he said, that even if the investor isn’t a good match for your startup, they might just introduce you to their contacts.

1. Start with two to three minutes of small talk

Start the meeting with a few minutes of chit-chat to build rapport. Get investors talking about something that interests them, or look for a common interest.

If you join a Zoom call, take a look at the investor’s background — a diploma, a photo, a piece of jewelry — and ask them about it.

2. Determine what will happen during the meeting

Before you come to your pitch, set out what to expect from the meeting. This shows investors that you are organized and prepared and stops them from rambling.

Tal recommended that your framing should sound something like this:

hey, [investor], thank you for inviting me here. I think we have an hour, right? So how about if we do the following:

For five minutes, I’ll give you my pitch with the deck. After that, we take the largest part of the meeting – about 30 minutes – for your questions and answers. And then I’d like to spend 10 minutes asking you questions. In the last 10 minutes we define the next steps together. How does that sound?

A 7-step method for running effective pitch meetings – TechCrunch Source link A 7-step method for running effective pitch meetings – TechCrunch

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