BONUS 217: 6 Answers You Need Before Meeting a Venture Capitalist
The 10 Minute Entrepreneur
Sean Castrina
4.8 • 308 Ratings
🗓️ 3 November 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
Today we are addressing venture capitalists! These are the six things you better have an answer for when you meet with a venture capitalist.
Transcript
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| 0:00.0 | Welcome to the 10 Minute Entrepreneur podcast intended to equip and encourage business owners |
| 0:09.0 | and aspiring entrepreneurs taught by active business owner, best selling author and |
| 0:14.5 | teacher Sean Castrina. |
| 0:18.2 | Alright this is one of our teaching lessons and I'm excited about this one, yes I'm excited |
| 0:23.3 | about everyone of them but what I want to talk about is what do venture capitalists |
| 0:28.6 | look for in what they want to invest in and you've seen Shark Tank but I want to take |
| 0:33.6 | you through six things that are absolutely critical if you're seeking an investment |
| 0:39.3 | dollar because I get asked this all the time you know how do I get people to invest in |
| 0:43.6 | my startup well let me just take you through what typically a venture capital company is |
| 0:49.6 | looking for. |
| 0:50.9 | First and really foremost you need to be an extraordinary entrepreneur okay let me |
| 0:58.5 | just say that they invest in you. |
| 1:01.2 | They want to know that the entrepreneur that they're investing in, their investing in has |
| 1:06.3 | just tremendous drive, energy, passion they're committed they're all in on this idea and |
| 1:13.8 | starting this company there's just no wavering okay. |
| 1:19.3 | This is so critical because you're never going to attract a great team under you if you |
| 1:24.1 | as the entrepreneur the founder of the company do not have the qualities of a great entrepreneur. |
| 1:31.3 | So you know again do you have passion do you have drive are you committed to it next |
| 1:38.1 | do you have an expertise a great understanding of this you know company this industry you're |
| 1:45.8 | moving into they want to know that you've got again tremendous knowledge, tremendous understanding |
| 1:53.4 | tremendous insight they're investing in you they don't want to run the company for you |
| 1:58.2 | they're not going to be the expert. |
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