I love the advice on Venture Hacks about confining the time you're out pitching to set amount (e.g., six weeks). Basically, kick it off and then run as fast as you can with as many people as possible for a short amount of time (full details here: http://venturehacks.com/articles/adam-smith ). My question is, what should you prepare prior to doing this?
It seems like you'll need the following for sure:
-Pitch deck with a clear ask for a certain amount of money
-Individuals lined up for possible reference checks
-Stats available to give to VCs (e.g., Analytics Dashboard, etc.)
What about financial projections? How detailed do these need to be at the early stages to get a term sheet?
What else might you need? We're planning to go out soon and want to get all our ducks in a row to make it as quick of a process as possible.
A few tips:
For me, a pitch should have the following sections:
Total number of slides should be like 12-14 (not including backups).
As a branding and marketing guy, I have met with many startups during my career. I have either pitched them prior to funding or after they have secured their angel or first round.
I believe if you have a prototype of your product and if you have gone through a minimal (and the emphasis here is on minimal) amount of your branding exercise you will have a much better chance.
By branding exercise I mean developing: