Re-Post: Bee Partners’ Garrett Goldberg shares his tips on getting the most out of unstructured time with a VC on RocketSpace’s blog. Many a more experienced venture capitalist have written about how to prepare for a pitch or structured meeting with his or her firm. However often the most valuable time spent with VCs can come in a more unstructured setting – at open office hours, at an event, or around the bar at a cocktail party. This time has real value for both parties, often producing insightful and valuable dialogue that leads to a deeper and more meaningful relationship well into the future. Next week Bee Partners will hold its first Ground Support session at our beloved new home, RocketSpace. In addition to supporting the RocketSpace programming, our office hours serve to give back to the ecosystem that supports a seed fund such as ours. We intend to hold these monthly and welcome any company associated with RS at any stage to spend 30 minutes with Cynthia, Michael, or myself. To help you prepare, Bee Partners came up with 5 questions you should always be able to answer, in case that meeting at the bar happens serendipitously! Enjoy and I look forward to seeing you at office hours. -Garrett
Are you able to articulate your core offering and business in 5 minutes? In 1 minute?
Are you sure that what keeps you up at night is the critical path?
In what areas are you struggling the most? Can you articulate your critical deficiencies with respect to team, domain expertise, product-market fit, etc…?
Do you have a question that is broad about your industry or sector that can spark dialogue with the VC that could then lead to a discussion about your startup?
What are the 3 critical things you need to resolve for you to continue working on this company? How can you achieve those on the capital you think you need?