Our media columnist Eric Peckham talked to a variety of successful founders on how they generate FOMO (i.e. fear of missing out) among VCs during their fundraises. While having a great deck and story is key to startup success, clearly there is also a bit of the dark arts required to go from intro email to term sheet.
We focused on a two-week period and set all the meetings for Thursday and Friday. From 7am into the evening, back-to-back pitches at all the firms in one area then the next area. That’s because partner meetings are on Mondays, so the Thursday and Friday conversations would lead to pitching the whole partnership the following Monday. We had a 24-hour rule: if we didn’t hear back from a fund in 24 hours, we crossed them off the list.
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According to this CEO, Sequoia and Benchmark are the best at throwing entrepreneurs off their process in order to get ahead of the competition. Sequoia will typically arrange meetings for the morning so they can invite you back for a second meeting with more partners that same afternoon; Benchmark’s partners are quick to travel to wherever you are in the world and sell you on working together (with a term sheet at the ready).
Our editor Jordan Crook did a great interview with J Crowley of Airbnb Lux and formerly of Foursquare, and the two of them discussed the opportunities and challenges of being a PM, how to deal with failure, and how to be a leader on a product team.
