Ever wondered what it’s like on the other side of the table? Eyal Malinger is responsible for Countrywide’s growth and venture investments and has seen his fair share of pitches from start-up teams. After last week’s PropertyTech dinner, we wanted to share Eyal’s insights. Read these seven things Eyal notices before you meet your next VC!
- Team dynamic. I am a keen observer of how people work together.
- Knowledge. Whether you know your facts about the industry. Be it property, security or food, the VC will know it! Know your competitors.
- Preposterous assumptions. Your assumptions have to be robust and your projections should be realistic. However, don’t be too conservative – if you’re pitching something, it must have the potential to be big.
- Follow-ups and responses. Whether it went well or bad, email them after. Keep an Excel spreadsheet of your contacts, and keep in touch with your contacts via updates. Don’t nag them but send them a ping. Keep people posted, even if you don’t know them, it’s a network that you have to keep alive.
- Not leaving your job! Are you serious about this if you’re still working on something else?
- What is your IT strategy? I want to know if you’re outsourcing your IT.
- Pitch in 20 seconds very clearly. Make sure your business idea is easy to communicate.
For more inspiring tips from investors, keep in the loop with our fundraising dinners.