How I got my first Venture Capitalist Pitch Meeting

I wanted to build a software company people loved. I wanted to help millions of people by building something they loved.

This time wouldn’t be like my previous failures. Software that no one else ever saw, let alone used.

This time was different. I have a working Minimum Viable Product, MVP, this time. Other people have seen what I’m doing. They think I’m crazy, but they just don’t get startups. Right?

Something was missing though. Users weren’t flocking to my app. I felt I just needed to raise money. That’s what I saw news stories about. Yeah! That would get me there. I just need to get a venture capitalist to write me a check. Then I’ll use their investment to build my product and increase the user base.

One problem…. I didn’t know any VCs. How would I meet with them?

I thought it was a David and Goliath story. Me being David and the VC being Goliath. I thought if I could just get them to understand the potential of what I was building we’d have a shot at building something used by millions around the globe.

I was completely wrong, however, I was successful in getting that meeting.

Today I’m going to tell you how got my first Venture Capital Pitch Meeting.

What was I building?

In 2011 I felt overwhelmed by email. I’d get up around 5AM, work on emails until about 7AM, go to work, work on emails throughout the day, get home, and after my 4-year-old son went to bed I’d pound out more emails.

It was too much!

I noticed managers missing emails.

I decided to do something about it. I decided to build software that would help reduce the time spent on email. I had grand ideas of analytics. I decided to start small something I could build in a couple of days and launch. I realized many emails shouldn’t be sent in the first place. I thought — hey if email recipients can say what they want to get, and it shows in the sender’s email client, then that could reduce the amount of email received!

Here’s a demo video I made to try and drive sign-ups.

EmailReducer Demo

Many people, myself included, felt overwhelmed by the amount of email they receive. Messages from clients, relatives, business opportunities, went unanswered for long periods of time. I thought the best way to help was to reduce the amount of email sent. I built an MVP in a couple of weeks. It was a Chrome extension that would allow the owner of an email address to let people who were about to send an email, what type of emails they would want to receive and what not to.

I told everyone!

I pitched the idea at Lansing Demo Camp.

I shared my project with my bosses and coworkers.

I told my friends about my idea.

I emailed founders of competitive companies to see if there were collaboration opportunities.

I showed the software at our company lunch and learns.

Basically, I told everyone who would listen about what I was working on.

In early 2012 I felt I was as ready as I’d ever be to pitch a VC for the first time. I wanted to raise money and turn this project into an impactful high-growth company.

Getting the VC Meeting

I’d found the best way to connect with people I didn’t know, was to meet them in person and make a specific ask.

I’d had some success with cold emails, cold phone calls, etc. but I’d also spent a lot of time there and had a LOT of failures.

I’ve had 100% success in having the person consider what I’m asking when I meet them in person.

In late 2011 I knew of one Michigan-based VC firm, Detroit Venture Partners.

I poured through their website learning who worked there and what they were looking for.

In a few weeks, on a Wednesday, I saw they were hosting a meetup! Perfectly enough it was to meet the firm. Perfect!

I decided to make the 90-minute drive there, meet their managing partner, and ask for a meeting.

This would be my shot. I felt it would be my chance to face someone who could turn my project into a startup bursting with happy customers.

That Wednesday I drove over to Detroit. I spotted their managing director. I introduced myself and told him I had a prototype I was working on and that I wanted his feedback. Our interaction was over almost as soon as it started. He gave me his business card and said call me.

It took me a week to get the courage up to call him. I’d built this up so much in my mind and told my friends about it. I didn’t want to hear a no and feel like a loser. I also didn’t want to let this slip. Finally, 7 days later, I swallowed my nervousness and dialed.

We had a quick phone call. I told him I wanted to show him what I was working on and get his advice. He told me to email him with some dates for the week of February 20th. I emailed him this cringe-worthy email the next day.

Amazingly, that email with a rambling first paragraph, that put the scheduling effort on him worked!

Why would such a horrible email work? I met him in person.

That’s my advice to you:

1. Build something, preferably a working prototype.
2. Meet angel investors and VCs in person
3. Get their contact details
4. Follow up with a meeting request to get their advice and feedback.
5. DON’T immediately pitch them! Ask for advice. Develop a relationship.

Give it a whirl and let me know how it works for you in the comments.

P.S. Thanks to Rick Mason for reading an early draft of this.