A How-To on approaching a VC you don’t know.

Recently, there has been a push in the Boston community and the Commonwealth of Massachusetts to make approaching the Venture Capital community easier. Even so, getting that meeting set up and speaking to the right one can be difficult for some people, especially if it’s your first time!
 
Initiatives such as Greenhorn Connect not only list these firms (check out the Resources section: VC category) but also make you aware of their office hours (check out the Calendar!), and this post will aid in your approach.
 
Let’s start with the Introduction. Obviously the best way to approach a VC is through a warm introduction since they highly value the team and in most cases make it their number one factor.
A few suggestions that can help you through this:

1.    Use your existing connections to see where they lead to. That point of contact could be your neighbor, teacher, friend, or classmate, classmate’s father, uncle, brother, etc… okay you get the point.

Once you find the link, make sure you don’t directly ask them as it can make them feel uncomfortable if they do not want to open that connection. Get them to understand your situation and what you’re trying to achieve and then suggest their input. They most likely will respond in a passive manner: “Yeah I think I can help, let me see if I can call an old friend that could help you out” (when you already know the person you’re trying to get to).

Make sure you follow up with both parties: the person making the introduction and the one you’re being introduced to, and do so in a timely manner. Anytime someone opens a door for you, always thank them or they might not do it again. Additionally, it might be a good idea to let the person introducing you how things went in your thank you letter. 

2.    Use social media outlets such as Facebook/LinkedIn/Twitter to get to know the firm or individual you want to approach. This does not mean to send them a direct message! DO NOT DO NOT DO NOT do this.

I have received LinkedIn messages updating me on something that my firm just did (Hercules Technology Growth Capital) and since we are a public traded firm it’s not hard to do. Then the sender always asks if I would be interested in hearing a few ‘interesting opportunities’ and that we should get together for lunch. NOPE, not happening.

What you can do is find out when and where they will be and approach them in a natural setting. Do your homework about the firm, person, and their blog/twitter account. This way you can suggest things such as a book that you know they will like. Once you build that connection, dig a little deeper and ask them questions about their work. Get their card and follow up with a brief but inviting message; suggesting that you would like to get their opinion on a topic and let them decide the venue.

3.    Get out there! We list a ton of events on our Calendar; make use of it. You won’t make that connection just sitting at home. Educate yourself on what’s going on and the people you want to get to know then go find them; the only thing stopping you is yourself.

Once you’re at the event, if you haven’t gone to a few, you might be a little intimidated by how to approaching your target(s). Check out Diane Darling’s “How to Work a Room”: a great visual on how to get around a room when you’re trying to network.
 
Click here for the PDF version

Click here for the online version
 
She is a friend of mine, so if you want that introduction; be sure to send me a message and use me as that lead!

These are just a few examples of things you can do now, if you have any suggestions post a comment or send me an email and I’ll be sure to update the post. 
 
Go get em,
Ashkan