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VCs Agree to Meeting. Problem: They say no before you start

by Larry Chiang on April 12, 2012

by Larry Chiang

This is classic.
This is cliche.
When a VC says “No, def no” BEFORE YOU EVEN START you’ve now a slew of  choices.

-1- Up and bolt.

VCs really lack domain expertise. But they more than make it for it with street smarts and pattern recognition.

They have treated countless entrepreneurs the method and manner Lawrence Black and Nicholas Chavez cited. The best thing you can do with a pitch meeting is prematurely leave.

In continuing with Lawrence Black’s relationship metaphor. Someone breaks up with someone. Either the VC breaks off the meeting or you do. You pick

-2- Ok… I will stay and wither.

So choice two is stay.

When they say, “WE ARE NOT INVESTING”
You say, “Cool. thx for your next hour. I totally appreciate it.

I wanted to meet with you because your investing experience and board experience there at ____________, _________________ and ____________. not to mention ___________ and ___________. OH and _____________pure genius.

I read your preso / notes from Web 2.0 Summit. Its on my startups treasure map wall. We used it to get to $1mm in revenue. So I should say thank you. and pay you.

I brought my demo, but eff my demo. I had two specific questions that you can either answer now or email me later next week from your island / private plane with WIFI)
One, what do you think we should more specifically focus on? The consulting revenue that we bootstrapped up on OR the minimum viable product that we spoke at Columbus Ohio’s National Janitorial Credit Service Workers of American annual conference?

Two, I read that on slide 12 of your comment to the Mary Meeker state of the Internet, you said mobile apps that focus on VC fico scores didn’t and doesnt scale. Do you think we can augment that app to also serve the asian american new immigrant market. I mean you married an Asian woman so should we PIVOT.

I am sorry. I didn’t mean to say PIVOT. Are Eric Ries genius teachings coupled with Steven Blank’s customer dev and Mark McCormack’s sales teachings putting a dent in your deal flow?!

Anyway, Eric Ries is a mentor. So is Paul Graham. I will see you at the YC Demo day?!


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