How to Charm a VC Into Mentoring You #startups

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So it's not enough to have a bright and powerful innovation. You shall also charm a VC. Ok, I didn't knew that, then I never had entered into the game ;)

A post from from GigaOM by Larry Chiang has the whole story. Here is just the beginning:

Thank youVCs are good for much more than just their money. I have never gotten VC funding, but I have had many VCs help me.
VCs might get criticized for their lack of domain knowledge, but they have great general business knowledge, and a VC’s BlackBerry can be a distribution channel in itself. The tricky part is charming them into helping you. These steps will help you navigate your way into new worlds and go from outsider to VIP. Think of this as life-hacking and accelerated networking.

1. Set Aside Your Need for Short-Term Investment

You’re not going to get venture money right away, so set aside your short-term cash needs. Clarify this position verbally with the VC. Once you make it clear that you don’t need short-term venture, you then have a shot at getting mentorship because the relationship is mutually beneficial.
The VC benefits because they get to know you without the awkwardness of you selling them on you. Plus, they get to see you outside of your qualifications as a good Computer Science major: Can you execute your way out of a wet paper bag? Can you take mentorship to improve your fledgling startup? You benefit because you are getting free consulting and are building shareholder equity.
Money comes out of a VC when their greed for your startup stock outweighs their fear of investing. Get more of the former and less of the latter by setting aside your need for their cash.

2. Get a Foot in the Door

So how do you get started and wedge your foot in their door for a meeting? I get a foot in the door by not even stepping into their office. My opinion: The cardinal sin of entrepreneurship is asking a VC for coffee. Be a pro and ask for phone time. To you, coffee takes only 20 minutes, but to a VC, it’s different. The VC sees it as over an hour of time. It takes 30+ minutes door-to-door from Sand Hill Road to the University Ave. Peets Coffee in downtown Palo Alto.

3. Follow Up in a Methodical and Diabolical Fashion

VCs ignore you. This isn’t a plot spoiler, because everyone knows it already. They do want to talk to you, but they are going to test you first. I recommend following up in a stalker-ish manner. It’s what they don’t teach you in school. Diabolically set up an email contact schedule after first contact.
For example, you first come into contact with Jim Breyer at the Accel-hosted CEO Summit at Stanford’s Arrillaga Alumni Center. He hands you a card, fully knowing that as the legendary Jim Breyer, you will only have a 15 percent likelihood of contacting him. It’s because people do not follow up. So let’s say that you are part of the 15 percent that do email. Most email once.
VCs like Mr. Breyer need to be put on an email contact schedule. Email him at strategic times:
  • first thing in the morning at 7:20 a.m.
  • sometimes on a Saturday
  • maybe during late evening
It’s an impressive skill to email and re-email in such a way that each email is a stand-alone, first-time communication that is slightly new and different. You never ever refer to the other (unanswered) emails. Each email is a new email.
After about 20 emails, he’ll know that you are serious, and he will answer. But know that those 19 emails leading up to the one that does get answered were not in vain.

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