Seven: My First Encounter with a Venture Capitalist

Many years ago, I began researching about capital fundraising, Angel investing, and bootstrapping. I had several stereotypes in my head. Mainly, I thought Angel Investors were, Angelic …

And from what I read briefly about Venture Capitalists, this was my image:

And I confused a Bootstrapper with

A strapping young man.

Like I said, this was many years ago.

Now I know better. And last night, at the MassChallenge Texas meeting, I learned about what avenues to pursue after graduating from an accelerator bootcamp, including bootstrapping, venture capital, and other options.

It was a great discussion, and the panelists were very open and honest about what it took for each of them to succeed in their specific industry.

Once things wrapped up, I spoke briefly with the Venture Capital panelist. I did my best 30 second elevator pitch. She was nice and seemed interested in my idea.

When I left, I recalled my first encounter with a Venture Capitalist some time ago.

Here’s a photo and GIF representation of what happened:

I was nervous as I waited in line to give my elevator pitch.
He seemed interested in my idea. He then said something I mistook for a joke.
I thought it was funny.
It didn’t end well for me.

This experience is what I would call a “Fast Fail”.

No, I didn’t meet a similar fate of Paul Allen’s character from American Psycho. That horrible first encounter with a VC was actually a blessing in disguise. I decided that I wouldn’t be so unprepared the next time I attended a networking event. I did flub many times in other meetings, but eventually, I got to the point where I could relax and enjoy my surroundings.

Hope you enjoyed my awkward, wistful memories. Let me know what you think!

Diary: Acceptance

(Photo by Pixabay on Pexels.com)

I was accepted into the Newchip accelerator bootcamp program!

For the next four weeks, I will study what it takes to succeed as a startup. Well, that’s the simple way to describe it.

What shocked me the most was not that I was accepted, but how little I currently know about fundraising. The Table of Contents was a wake up call.

For the past several years, it has been an uphill battle to figure out how to get clients. What I should have concentrated on is how to successfully raise funds for my business.

Here are just a few of the things I will learn:

  • Recruiting co-founders
  • Raising seed capital
  • Creating good Pitch Decks

So much to learn. Thank goodness I am a voracious reader!

Have a great rest of the week.