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Ask HN: Talking to an investor for the first time. Any advice?

1 points by throwwwww ↗ HN
Hi HN!

So I am working on a startup part-time this summer, alongside a small group of people (who could turn into cofounders). We don't have a prototype ready yet, so it seems a little early to talk to investors. However, last week an investor at a meetup heard about my idea and really liked it -- we exchanged emails and blocked out an hour to talk over the phone tomorrow.

I am feeling nervous about it because I am not sure what to expect. Except for what I read on HN, I don't have a firm understanding about how the finance end of things work.

Any advice?

2 comments

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coralreef
Convince your cofounders to build the prototype first. Talking to investors in a distraction. The result of your meeting will most likely be "okay lets keep in touch".
numinary1
Use the opportunity to learn: (1) What it is that attracted the potential investor to your idea; (2) What they would require of you in order to make an investment. Investors can be a distraction, but when the time comes to raise money you need to understand what investors are looking for. And yes, the most likely outcome of such a meeting will certainly be "let's keep in touch," but the very worst time to get to know investors is when you are desperate for money.