Jingwei Zhang Ying: the first meeting how to seize the VCnot the first time we met have high expectations, led to the next meet is the best result Author: founding partner of Matrix Partners Zhang Ying First of all, very pleased to have the opportunity to 'Entrepreneur' magazine in 2010 the first phase for entrepreneurs to write something. I will start from this period, one after another to \u0026 ldquo; how to maximize the success rate financing entrepreneurs \u0026 rdquo; as the theme, in the form of columns to write some articles, the main contents of the article will focus on the various aspects of dealing with the VC, as far as possible on our point of view to the entrepreneurs to provide some operational comments and suggestions, hoping to improve their success rate financing help. It's something I always wanted to do but did not do that today there is such a platform, 'Entrepreneur' magazine, I think it is a good opportunity, because in essence we are providing services agency for entrepreneurs, and these articles also be regarded as a form of service it. This issue we first talk with VC entrepreneurs first met when the attention to something. Why write this content? Because I do VC for nearly 10 years, including the Nike Zoom Soldier VII United States two years, China 8 years, 10 years which have seen many entrepreneurs, invested a lot of companies, but more companies because of this reason, not investment. Do not invest a lot of reasons, some industry issues, some stages of the problem, some question of price, some team issues are not the same. But there is such a class of problems, I think that if the entrepreneur has enough experience, or are Nike Kobe 9 Shoes clearly told him before the VC, it can be avoided, thereby increasing the likelihood of financial success. Today article, it is necessary to talk about entrepreneurs, when first met with VC should know a few things. Now we assume that you are an entrepreneur, has submitted a business plan (some details about the business plan, I'll talk Nike Air Jordan XX8 to the article), VC showed preliminary interest in meeting, then below you what to do, pay attention to Nike Air Jordan 29 what ? In expand the following content before, we first talk about the purpose of the first meeting. I think the first meeting, the purpose is very simple, very simple, is to make VC to your project, you have a person or team of first impression, the best result is that there will be a second later, the first He met three times. In this case, the entrepreneur should not expect too much of the first meeting, if we make the VC said they would follow up on this project is the best result. I have seen many entrepreneurs, the first meeting talking about pricing (Valuation), this problem proportion of shares, board seats, etc., seemed more worried because the first meeting with the VC is not the time to discuss these things. This is the first point I want to say, do not have high expectations for the Nike Air Jordan 5 first time, led to the next meet is the best result. Secondly, about where to meet? There is no absolute answer to this question. My experience is that, since the VC schedule are scheduled to be relatively full, so most investors will be required to meet the VC office, general entrepreneur in this case it is best not expressed opposition. Because the first in the VC office will meet with investors generally have more time to talk to you, the second is also convenient to other members of the VC team to introduce to you, you also have the opportunity to a third of these investors have a home preliminary understanding (office but in fact in possession of a lot of information, such as decor, layout, reception of your process, what you drink beverages, etc.). Of course, if your project is rather special characteristics, such as you have in the suburbs of Beijing a private university, there Baosteel energy saving equipment, or your office a lot of character, able to show your entrepreneurial culture, it may be about in your office It is a good idea. Of course, we can also meet at cafes and other third-party sites, but the first formal meeting or in the office for the good of both sides. Again, what people participate? Supra Skytop IV There are two problems, the first is what you bring people to, and the second is what VC side participants. Answer the first question, you take Nike Air Max 2011 what people go? I personally think the first meeting best not to take a lot of people with our most important one? 2 people like. For example, you operate an Internet company, you are primarily responsible for the company's operations and marketing, the other partner in charge of your business products and technologies, so the two of you had better attend. Another example Nike Lebron 11 Kid your company is doing medical equipment, the company has been relatively mature, marketing, sales, research and development, finance, personnel, administration have staff for, you are in command of the overall situation, I think that in this case a person to like you a. I have seen some companies, the first meeting to the Nike Air Max 5? 6 people even more, talking all the time I have to take into account other people, but weakens the core founder of communication, Nike LeBron 11 it is not necessary, because or phrase if the first meeting is a preliminary communication, the most important thing is to communicate with the company's core founders. Let's look at the second question, VC is there anything people participate? First of all, this problem may not be able to free choice, because different each VC workflow, work assignments and so on. My advice is, if they can about the relatively high level of partner is good, because he's more right to speak inside; if only about the vice president or investment manager, I think it is no problem, because the future dealings with you more likely is that these people can not convince them is also critical. The following question is, with what information to, how do presentations? I think VC is a group of people like simple things, do not put things get complicated, so my advice is not much information, should be fine, a good business plan may be sufficient. I've seen some entrepreneurs, the first meeting with a lot of information, including business licenses, tax certificates, honorary certificates, government approvals and so on, but to be honest these materials and not suitable for the first meeting. If your company's products are special, innovative, with a product that is good to do presentations. About the demo, I am here for everyone to eat a reassurance, VC does not require that each entrepreneur will have a very exciting, very fancy presentation skills, just to make things clear enough, without PPT also no problem. On how to do a presentation, which is a big topic, my advice is simple to the complex, said things simple, the logic of mass information, more use of data. The meeting last? Actually, this is a problem. Inside our industry, there Nike Zoom Soldier VIII are a lot of rumors, some say the first meeting on Brief Encounter, talked for an overnight, some say 10 minutes to get, in fact, they are more exaggerated. My experience is that an hour or so is more appropriate, this time enough to talk about the things that make it clear if additional information is necessary, then we can continue to communicate after the meeting. I like the efficiency of a person, usually I will focus ask questions before the meeting of 45 minutes, and often relatively jumping thinking, too long in fact, if efficiency is reduced. My purpose of doing so is to see in the case of a certain pressure, the entrepreneur's idea is not sufficiently clear, there is no want to get something clear enough, the experience is not rich enough, with the tacit understanding between the teams is not enough. Of course, in Nike Air Jordan 4 this regard, I can Cheap Nike Free Outlet only represent the views of my own, because each VC's style is different, I am more familiar with the industry several partner is very good at listening to the entrepreneur's time will be relatively long. Of course, adequate communication itself takes time, I have to a deeper understanding of an entrepreneur and his program, and would make use of other occasions will continue after the communication, speaking here only for more formal first meeting. When you are done these things, then the end of the VC interest in how you judge it? On this issue, before my colleague Bo Shao wrote some articles, you can refer to. My personal opinion is that if the VC really interested in you, Nike Air Foamposite One or we will arrange the next steps on the spot, or we will contact you within three days, otherwise you will be well evaluated. Of course, some companies may be interested in VC, but there are some Air Jordan Outlet practical problems need to be resolved, such as the ownership structure issue, license problems, etc. In this case VC pace may be slowing, but we must also, together with you to keep quite heat. This topic actually there are many other issues, such as how to dress, how long to the early, late how to do so, in fact all technical issues, not so important. To sum up, VC is the simplicity and efficiency of the animals, so we must fight for the first meeting is simple, direct and efficient way to achieve the purpose, and this purpose is to contribute to the next meeting. (The author is a founding managing partner of Matrix Partners)