2010 July 07 | The Business Success Blog

What Venture Capital is Looking For in this Market

July 7, 2010 by Frank Goley, Business Consultant

If you think you require venture capital, then it pays to do your homework.

With the Recession, Venture Capital has shrunk 18% the first quarter of 2010, compared to 4^th quarter of ’09. Some say that is good, others say that is bad. Either way, you need to understand if you have a fundable business model for Venture Capital, what VC is looking for in an opportunity, how to find VC and what VC investments are hot now. So here is a Venture Capital checklist for you to help steer you through the competitive market of venture capital.

The Venture Capital Checklist

ü Is Venture Capital really appropriate for your business model? Will your company be fast Start Up, grow very big quickly, and have an Exit of a sale or IPO?

ü Understand only 1 in 20 serious deals get funded

ü Tap VC networks of professionals and advisors to get close to a viable VC firm.

ü Get close with a VC’s group of funds relationships

ü Up to 50% of VC inquiries can come from cold contacts but highly recommend you find a referral source

ü Find the VC inner networks. These people are trusted by VCs and are great referral sources. This includes previously funded entrepreneurs.

ü Find VC by researching online

ü Find VC by using your personal networks and the social networks

ü Use VC attorneys and accountants for an introduction

ü Research the companies a particular VC firm has invested in

ü Read very carefully what the VC principals say and write and make that personal, informed connection when contacting them via email. Make it a personalized email!

ü Keep the introduction email short: how much looking for, why you are a good fit to the fund, comment on the principal’s writings and speeches and make a personal connection. In other words, do your homework on the VC and keep your initial contact short and too the point but very personalized.

ü The lead Entrepreneur(s) is scrutinized for knowledge, credibility and experience around the business opportunity.

ü The entrepreneur has real Passion.

ü Entrepreneur has vision

ü The entrepreneur isn’t too optimistic about potential problems and threats

ü Company has a great Team in place.

ü The management team is more important than the business idea. A great team can be profitable with a mediocre idea. A great idea with a mediocre team fails.

ü A website that already has lots of Organic traffic

ü A Web Model that makes profit sense

ü Understand online marketing well

ü A Product or Service Solution that will change the market or create a new market.

ü Some Current Hot VC Areas: Wine, Food, Financial Services, Video Delivery, E-Business Infrastructure, Infrastructure around Cloud Computing, Media and Music. Solutions to save Consumers and Businesses money in this long Recession.

If you don’t qualify for Venture Capital, consider private investors. If you qualify for VC, use private investors to get you VC.

Resource: Here is a Video on How Venture Capital Works

Posted in Business Finance. Comment

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