Guest Blog: Gary Ritner Founder Puget Sound Venture Club, Seattle WA.
When you are pitching a pro like Gary you have to take into account their time. They are also using the few minutes you will have to sum up a few things about you… usually the meeting is over in 4 or 5 minutes unless you have some really amazing project. Don’t expect a big slideshow presentation. If you have one sheet of paper with a few bullets summarizing what you are doing that is enough. Web link at the bottom. Demo, only if he asks for it…
Here is a typical response when I asked Gary for some input on what guys like him are thinking…
Thanks for thinking of me but bad timing. I am involved in selling a small tech company and combining that with the PSVC, I am tooo busy. If you like, check back in a month. That said here are a couple quick thoughts:
- Historically if you surveyed some angels they would say the team is about 50% of the deal. From my experience it is all about team – say 90%
- One thing I look for in the CEO/team is do they listen.
- Do they know what they don’t know?
- Most start-ups under estimate competition.
- If the founders are techies, they need to get their head sales person on board early during product development.
- I suspect you have done this but, just in case, check the Angel Capital Association (http://www.angelcapitalassociation.org/) and related web sites.
Good luck with your class and hope you and your family are well.
Background: I have known Gary for 30 years. He has always been spot on, brief and immediate. You will always know where you stand with him and how he feels about your project. Great mentor and has helped literally thousands of people over the years.
Don’t just call or spam Gary find a connection on LinkedIn that knows both of you and ask them for an introduction…
Gary R Ritner
Owner, Ritner & Company and Venture Capital & Private Equity Consultant and Founder Puget Sound Venture Club.
Our site and Torrey Russell. This site is focused on helping people located in the Central Coast of California on the basics of starting and running a startup company. Torrey is offering a 10-week course on how to start a company at Cuesta College in San Luis Obispo, CA Starting February 17, 2015. For more on the course go here http://cuesta.edu/communityprograms/community-education/businessfinance/startup.html and for other resources go to http://12345679006.com
SLO Seed Ventures: http://www.sloseedventures.com/
Angel Capital Association (http://www.angelcapitalassociation.org/)