Marco Bitran, an experienced entrepreneur, understands how stressful securing funding for a business venture can prove. To help budding entrepreneurs, Marco Bitran has listed some of the most helpful tips for working with venture capitalists below.
1. Build a strong business network; use this network to gain introductions to venture capitalists. An introduction from a notable lawyer or a successful startup CEO means more than a blind introduction.
2. Engineer a couple of pitches for your business idea. One of these pitches should last only a minute or two, to catch their attention, while the others should be more comprehensive, as they will be used during formal presentations.
3. Practice the ability to think on your feet. However comprehensive or persuasive you think your presentation will prove, venture capitalists will look for any potential hole in the plan, and you may need to defend your idea.
4. Read any agreements with venture capital firms closely and hire a legal representative to look over the papers before you sign them. Ensure that the deal will prove beneficial to both parties involved.
5. Always present an honest assessment of your business and its prospects. Everyone appreciates someone who can think about the difficulties honestly, and the strengths.
Marco Bitran Boston 