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October 26, 2005
Smart Little Things (Part II: Updating on Your Successes)
Yesterday, I posted about a smart little thing that I’ve seen entrepreneurs do when they pitch to us here at Masthead – asking if there is anyone who s/he should talk to that might be helpful. Today I wanted to highlight another one. As with all VCs, we are in the position of having to say “no” to 99% of all opportunities. There are many reasons why we wouldn’t do a deal, and a significant one of them comes down to timing. Perhaps it is too early for us to get involved without having that key channel partner, a demonstrated customer usage pattern, or other external validation. However, it doesn’t necessarily mean that we aren’t interested at all.
A few smart entrepreneurs that we’ve met with have periodically kept in touch with us via e-mail, updating us on new customer wins and other successes. With some of these people we’ve reengaged with to re-explore a potential investment. Others we’ve ended up introducing to potential partners and other valuable people that we’ve met since the initial pitch. A timely periodic, short, e-mail is a great way to keep VCs you’ve talked to updated on your company’s accomplishments. If it’s done a way that isn’t overly frequent or overly intrusive, I think only good things could come of it.
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Comments (2)
Thanks for that David!
You've inspired me.
I've been in a position where I've been waiting for some mystical "right" time to go out an engage the local vc community.
Now, I'm just gonna do it- like tommorow- and start the dialogue.
Damn straight.
Posted by Daniel Nerezov | October 26, 2005 2:30 PM
Posted on October 26, 2005 14:30
Hi David,
Jeremy Zavodnoy linked you few weeks ago and now I am here addicted to your site. There is a lot of interesting stuff to read and after every post I feel new enthusiasm.
I remember the time when our CEO went around the US, meeting VC’s and mostly he was disappointed how little interest they show in our technology. Then we got good leads to people from our branch. There is whole story about trying to espionage our technology, steal idea etc. Once, when he have found good link, those VCs already had appetite to do the thing we daring to do, so we were funded. Now everything looks so natural and perfect, like that this way had to be. I wonder how many people failed on their way?
Next time in few years I plan to start my own startup. That is the way to go, with minimal investment, ready to break the wall with own head, brave and invincible… those are people that push this industry forward. Your advices are my free school for incoming days.
Thanks.
Posted by Dev #2 | October 30, 2005 5:00 AM
Posted on October 30, 2005 05:00