Investor Meeting Etiquette

8 ways to prepare for your investor meeting (and not blow it) The first investor meeting isn’t a formality. It's often the only chance you get. No one expects perfection. But investors and their advisors (I’m both) do expect preparation. If you’re not ready, you’ve wasted your best chance. Here’s what I look for when someone walks into the room: 1. Be fluent in your numbers If I ask about margins, burn rate or customer acquisition cost, you should answer calmly and confidently, without deferring to your co-founder or getting your head stuck in your notes. 2. Explain your product like you're talking to a smart relative at a wedding Not every investor will know your space. Can you explain what you do in one line, without jargon? If not, you may understand your product but not your business. 3. Know your market better than I do If I’m investing in your sector, I will have done my homework. You should still know more. The best founders sound like experts, not enthusiasts. 4. Bring one sharp proof point It could be a customer quote, a repeat order, or a surprisingly low churn rate. Just one killer stat that proves this isn’t all theoretical. 5. Anticipate the obvious questions If you’re surprised by the question “Why now?” or “Who else is doing this?”, you’ve come unprepared. You should have thought through the first 20 minutes of the conversation as carefully as your deck. 6. Don't perform, converse A pitch is not a one-actor play. Engage. Ask for reactions. The founders I remember are the ones who listen as well as talk. 7. Be precise about the ask Not “somewhere between £500k and £1 million depending on how things go”. Tell me how much you need, what you’ll spend it on, and what success looks like after 12 months. 8. Leave me with a reason to care Maybe it’s your grit, your insight, your unusual background. Whatever it is, I need to remember something about you, not just the deck. Still polishing your pitch? Keep this list close. And share it with a founder who needs a nudge before their next big meeting. PS Tomorrow’s post: the eight questions I ask myself after you leave the room. PPS Every morning this week I'm posting about pitching! Please follow me and if you think this is useful for others please tag them in the comments.

You’re about to get on a Zoom with an investor. On this call, there’s one thing you must not do: just show up and talk. Many founders “show up and throw up.” They come onto the call and give a long, unfocused monologue. They quickly lose their audience. And they don’t get a check. You’re making a presentation, and that presentation needs structure. Here’s how to do it right… *Know What’s Important* Long before the call, you have to know the most important things to cover. They’re not hard to remember — I call them the Big 3. The Big 3 are Vision, Team and Traction. What’s the vision for your startup? Who’s on the team, and why are they the perfect people to take on this problem? What traction do you have to show you’re addressing the problem successfully? There are 100 other things you could talk about that don’t matter. Advisors, complex market size models, etc. Don’t bother. We need to be tight and focused. *Rehearse Your Presentation* Practice your presentation over and over. Keep doing it until it’s smooth, natural and easy. Figure out how long the presentation takes. That’s important, because you want to leave lots of time for questions. Your co-founder is a great person to rehearse with. Have them play the role of the investor. *Deck and Demo* Using a deck will help you stay on track. Don’t read the slides to the investor. Just use them as a guide. Include a brief product demo. Focus on showing the value the product gives the customer. Dan Siroker, founder of Limitless, did a beautiful job of using a deck and demo together to raise money. He pulled in $12 million at a $350 million valuation with his pitch, which I'll link to below. *Leave Lots of Time for Questions* Your presentation should take up the first third of the meeting. Leave the rest for questions. When you’re done presenting, don’t ask, “Any questions?” It’s too easy for the investor to say “no.”. Instead, ask, “What questions do you have?” Make sure your responses are precise. If they ask for a number, give them a number, not a story. Avoid long, meandering responses. It should take you about as long to answer a question as it took the investor to ask it. Some investors, like me, prefer to skip the presentation altogether and just do Q&A. That’s fine too! You should also rehearse for Q&A. Have your co-founder play the role of the investor. The harder the questions, the better! *Wrap-Up* Fundraising is sales. In most early stage startups, the CEO is the chief fundraiser and chief salesman. The investor meeting is a great opportunity for me to evaluate the founders’ sales skills. If he gives a long, meandering presentation, I’m picturing sales meetings going badly. But if his presentation is crisp and focused, I’m gaining confidence by the minute. Fundraising is a skill and you can learn it. It just takes focused practice. Know what you need to cover. Rehearse over and over. This is the way to raise millions. #startups #venturecapital

There's no such thing as a casual investor meeting. Every coffee is a pitch. Every intro is an audition. The best founders make it so the VC doesn't even realize they're being pitched. I watched this play out last Friday. A founder met with a prominent VC for what was positioned as "just getting advice." No deck. No ask. Just conversation. But here's what actually happened: She dropped her metrics casually in conversation. Mentioned her customer wins as examples. Built urgency without asking for anything. By the end, the VC was asking her: "Are you raising? Can I invest?" That's the art. The Fatal Mistake: Too many founders show up unprepared because "it's just a friendly chat." They ramble. They complain. They ask basic questions. What they don't realize: VCs are always evaluating. Always. We're pattern matching in every interaction. Your energy, clarity, execution speed - it all counts. The Winning Playbook: • Know your numbers cold (but don't force them) • Have 2-3 compelling customer stories ready • Understand their portfolio and thesis • Create FOMO without being obvious • Leave them wanting more One of my best investments came from a "no agenda" coffee. The founder never asked for money. Just shared what he was building with infectious enthusiasm. VCs take lots of meetings a week. The founders who win? They make us feel like we discovered them. They turn every interaction into an opportunity without making it feel transactional. Because in venture, there are no casual meetings. Only missed opportunities. What's your best "non-pitch" that turned into funding? #Startups #VentureCapital #Fundraising #FounderAdvice #PitchPerfect

A founder asked me... "Nidhi, what questions should I prepare for in my first investor meeting?" I sent him 5 questions. He came back 20 minutes later... "Wait… these seem basic. I thought VCs would ask harder stuff." Here's what I told him... The questions ARE basic. But what they're testing? That's complex. When a VC asks, "Walk me through your journey" They're not asking for your LinkedIn bio. They're testing... → Can you tell a compelling story? → Is there a logical thread in your decisions? → Are you self-aware? Because if you can't sell them on YOU, how will you sell customers? When they ask "What problem are you solving?" They're not asking for a problem statement. They're testing: → Have you talked to real customers? → Do you understand the pain deeply enough? → Is this a billion-dollar problem? "We help businesses be more efficient" = INSTANT PASS. Vague problems don't raise capital. Specific pain does. And my favorite question that catches everyone off guard... "What's your biggest risk right now?" Most founders panic. They either say "no risks" (lie) or "execution" (cop-out). Wrong. This question tests your self-awareness. Real founders know their landmines... Regulatory changes Customer concentration Technical debt Co-founder equity issues You don't need to have all the answers. But you need to know the right questions. First investor meetings aren't about your pitch deck. They're about whether you're someone an investor wants to work with for the next 7-10 years. Every question is testing... ✓ Can we trust you? ✓ Can you execute? ✓ Is this company inevitable? Master the questions. But focus on the trust. Swipe through for all 5 questions and what they're REALLY testing → P.S. I run mock investor sessions where you face every tough question before the real meeting. Want one? DM me "PRACTICE."

I won't let an intro become a deck-exchange. Most founders hand a VC a slide deck and wait. Ninety-five times out of a hundred that ends in silence (my coaching data across 200+ fundraises). They mistake "yes, send deck" for momentum. It isn't. It's a polite stall. After helping founders raise $1.2B+ collectively, I've watched this exact mistake kill deals. A recent intro proved the rule. - Investor: "Please share a deck." - Founder followed my playbook instead: "Rather than sending over a full deck, it may be more helpful to walk you through a 1-minute overview and a very quick 2-minute demo. Would you be open to a 15-minute call next week?" - Investor booked the meeting. No deck. No associate gate. Just access. Here's the anatomy of a warm intro that converts. 5 moves, copy-paste ready: 1) Lead with scarcity "I can show you this in 90 seconds." Time = credibility. 2) Turn requests into an offer When asked for a deck: "I'd prefer a 3-minute pitch so you hear this from the product. When's your next 15-minute slot?" Exact script. 3) Block the associate funnel "I respect your process. Mine is to meet when decision-makers join. If they're unavailable, let's schedule when they are." One line, always. 4) Demo-first hook "1-minute overview, 2-minute demo, 12 minutes Q&A." Concrete timeline reduces friction. 5) Deck is a reward, not a lead After the meeting, send the deck as "the one-page summary you asked for." The deck is a reward for committing to further engage, not a door opener. The result? You get the decision-maker on the call, not an associate. Meetings move from "maybe" to "when" in 7-14 days. Here's what separates outcomes: ❌ Deck-first: 95% end in polite passes or silence. ✅ Demo-first: 20% convert into second partner meetings within 2 weeks. You set the terms. They decide whether they earn the meeting. Use the script. Control the process. Close the meeting. Read the full issue of my newsletter. ⬇️

I’ve had over 120 meetings with VCs since starting my company. If I were a first-time founder heading into my first VC meeting, here’s exactly how I’d run the call. Remember, your goal isn’t to get a check on the spot. Your ONLY goal is to earn a second meeting. BEFORE THE MEETING 1. Share your pitch deck with the investor as early as possible. 2. Read the fund’s website. Look for check size, stage, and past investments 3. Research the investor to find overlap: alma mater, mutual connections, hometown — something personal 4. Write down a 60-second version of your pitch that covers the problem, solution, market size, and your ask (how much you’re raising) 5. Go to ChatGPT and upload your pitch deck. Ask it to act as a seasoned VC with 20 years experience and draft a list of questions about your company 6. Copy that list of questions and write responses to each in a document 7. (Optional) Send the responses to ChatGPT for one round of follow-up questions to cover any gaps you might have missed 8. Join the call 2–3 minutes early and set up a split screen with your video on one side and the document from step 6 on the other DURING THE MEETING 1. Start with small talk (2–3 mins), and try to loop in anything you found in step 3 2. IMPORTANT: Ask the investor “I shared the deck ahead of this call; would you rather I go through the deck, or do you prefer just to ask questions?” This helps you: 1. know if the investor has read your deck ahead of the meeting (showing genuine interest), and 2. demonstrate confidence. 3. If they say deck, walk through it in under 10 minutes 4. If they say questions, start with your 60-second elevator pitch and then open the convo for their questions 5. During the conversation, refer to the document you made in step 6 if you need to 6. With 3-5 minutes left, ask the investor questions. Three simple questions to ask: - “Do you typically lead rounds?” - “What’s your check size and typical process?” - “What would you need to see to be excited about leading this?” 7. Confirm next steps before ending the call. Ask when you should follow up. AFTER THE MEETING 1. Send a follow-up email within 1 hour (ideally, you have this drafted already) that includes a thank you, data room link, and any additional details you said you would share 2. Update your investor CRM 3. Set a calendar reminder to follow up in 3–5 days if you haven’t heard back 4. Repeat at step 1 for the next meeting Congratulations! You just ran your first VC meeting like a pro. Only 60-100 more meetings to go 😅 - - - Most founders focus on *what* to say. The best founders focus on *how* they show up. That’s how you earn the next meeting. I detailed this whole process in my free CREAM eBook. It’s a 62-page guide that helps first-time founders close their first $1M. Download it by clicking the Visit my store button at the top of this post!

VC Meetings: What To, and NOT To Do, Before, During & After At my last startup, I met over 350 investors. Here are the best practices on how to approach meetings 1️⃣ Before the meeting : - Only take the call when you are ready to start your process. You should have 5 to 10 investor meetings stacked in 1 week. This maximizes your learning - Have talking points: Every slide in your deck should reflect one key point. So a 6-slide deck should reflect 6 key points ( ie, we are growing xx% per month). Having a case study is gold - Have one deck to present (short/simple) and one deck (long/thorough) after the meeting, which will give you an excuse to follow up - Email response to intro: keep it simple, show interest but not desperation. 3 sentence max. No need to write a novel about your startup in the email. Dont sound desperate, sound busy, which you are - Use Calendly to schedule your meeting 2️⃣ During the meeting: - Your slides = Main talking points: No matter what question the VC asks you, you need to bring it back to one of those 6 main talking points. For example, VC: "So how are customers thinking about this?" You: "We're growing xx% per month because we are solving a real problem" - Have unwavering conviction in every SINGLE thing you say. If not, don't say it - Ask questions and keep it conversational - Ask the investor to invest directly right there in the meeting - "We'd love to have you on board " - Don't leave without a clear next step - this is typically giving them access to the data and a second chance to discuss their questions 3️⃣ After the meeting: - Send a thx you email, cc a partner or whoever intro you, and add a link to your data room - Your data room should have a presentation, corp docs, 2 yr projections, customer testimonials, case studies, and a FAQ - Expect your email to get ignored. So schedule a follow-up email right after your first. Mixmax has a sequencing feature - Treat your pitch like software, so use the meeting like a customer interview and adjust your pitch accordingly #startups #venturecapital #founders #siliconvalley #technology #innovation ------- Like these stories? Follow me for more founder advice from the trenches✌️

Dear Founder, Are you asking the right questions, the ones that preserve your authority and foster mutual respect? You are the product. Investors are facilitators; we buy promises of future value. You are the one building something great now. It's easy to think that investors hold all the power because they control the capital. In this two-sided market, you are the hard side. You hold power, even when resources are tight. You are the valuable part of this equation. Remember your worth at every stage of the fundraising process. One way to do this is by asking smart, thoughtful questions. Good entrepreneurs understand the difference between "smart money" and "dumb money," and good investors are aware of this distinction too. Exceptional investors know they need to demonstrate the value they bring to the table—that's how the market should function. However, I urge you: don't directly ask an investor if they're smart or dumb money, or make statements like "We're being very selective," or "There's limited room left in the round." Such comments can inadvertently undermine your position. Instead, engage in a dialogue that empowers you and provides the insights you need: Ask what the investor brings to the table. What value can they add beyond capital? Inquire about their industry knowledge. How well do they understand your space? Explore their network. Can they introduce you to potential customers, partners, or key hires? Understand their decision-making process. Are they ready to act quickly? What does their timeline look like? If their timeline doesn’t match yours, tell them. Tell them where you are in the round. No need to state there’s limited room. There is. Or there isn’t. Show. Don’t tell. Your questions reveal a lot about you—how you think, how you approach challenges, and how you might be to work with. They demonstrate your professionalism and strategic thinking, qualities that are attractive to investors. By asking insightful questions, you maintain your power and show that you're not just seeking funds—you're seeking the right partnership. Also, always keep in mind, you can turn down investors. “No” is your superpower So, stay thoughtful and determined. Keep in mind that you are the reason investors exist. You are the innovator, the visionary, the one turning ideas into reality. Even when you feel powerless, hold onto the fact that you are the prize in this dynamic, not the capital. Thank you for who you are and for all that you do. Warm regards, Ethan ------ Founder Fridays are part of a series of letters I've written to entrepreneurs, inspired by my experiences working with startups around the world. Founders make the world better, and we need more of them. Let's level up together.