The following post is from a well respected entrepreneur in Seattle with a GREAT business.
"My least favorite VC behavior lately has been this process:
- I get an email from an investor saying they want to chat
- I tell them it's only worth my time if they're incredibly serious about the company and have partners who are interested in an actual funding event
- They ask for some data/metrics, which I send
- We have a call
- They express lots of interest and want to meet immediately
- I fly to location X and sit down with them
- I never hear back
Did you really need to waste my time with that plane flight (granted, I usually have several other meetings/business in those locations)? What excited you on paper and over the phone that didn't in person?
Maybe it's just part of the game, but ugh. I'm respectful of your time, which you clearly treat as sacred. Please show me the same courtesy. I think the new bar is - you come fly up to Seattle and show me you're really interested or it's not happening."