How to talk to VC (Dos and Donts)

Some sample questions a mentor can ask:

• If I give you 1 crore how will u invest that in a day
• Best ans: 30 lakh for myself and my family future and comforts, rest 70 lakh for business. May be I will hire 4-5 best brains to work for me, etc etc. Or how u plan to grow your current business
• Mentor wants to judge how much are you concerned for your personal comfort, do u have a vision to invest money in your business
• Most exciting thing you did in college or life
• It can be academics but also something non academic. How passionate you are to achieve what you want. Something you really wanted to do and you went out of way, went crazy to do it
• Winning some trophy, Getting gf, some adv trek
• How ur friends describe you?
• Friends can judge you best. Some answers can be:
• visionary, Reliable, strong temperament, enthusiastic, etc
• Family background
• Mentor wants to figure out if you have future personal commitment. Most of entrepreneurs drop because of family reasons
• Why do you want to open a startup - THIS IS IMPORTANT
• Don’t say lame reasons here. It will haunt you back :)
• Something like: you know you company earns 50 lakh from you and gives you only 10 lakh of it. You think you deserve better with you skill set and ideas and want to make a place for yourself. Please note the assumption that if your company make a profit of 100 crores with 100 employees, it entitles you to get 1 crore, IS FLAWED. Company doesn’t make 100 crores only from employees but also from the idea, its brand value, etc. But then you also have a great idea WHICH ADDS VALUE to current market and hence you want to follow up your dreams.