Ask HN: Have you gotten anywhere cold messaging investors? As an unknown/nobody with a startup and a pitch, have you personally gotten anywhere cold messaging investors? Emailing them, messaging on LinkedIn, filling out website applications, etc. What were the results, and how many did you have to contact before you got anywhere? |
If you've been out in the world for a while and accomplished things, then you can absolutely reach out cold. Warm is better, but cold will work. If you've accomplished big things you'll have no problem getting to partners directly, otherwise you still might need to aim a little lower, depending on the firm and partner. (Accomplishing things could be building a business or doing significant research; accomplishing big things could be building multiple nine-figure businesses or being one of the co-authors on "Attention Is All You Need". You can do these things while still being relatively "nobody".)
This is general advice, of course, so take it modulo the space you're in. When the world's going nuts for $TREND and you're dealing $TREND, anything can happen.
I would argue that starting a startup at that age is a bad idea for most. it was a different time 20 years ago. plus most of those success stories are people who were already well connected.
Tech has mostly matured and there are processes in place for good releases. you're better off working for other startups and learning what a good work culture looks like. worst case, you learn what to look out for from bad work culture. more importantly, you make mistakes on someone else's dime or better yet, you have a mentor who helps you avoid the bad decisions in the first place.
Plus its not like being older makes you age out of starting a startup. I recently turned 40 and the startup I cofounded 4 years ago is profitable. I wouldn't have succeeded with what I knew 20 years ago.
My email was concise, under five sentences, and straight to the point, highlighting the market problem, its size, and our traction. Feel free to ask any questions!
X > Email > LinkedIn. LinkedIn is a cesspool!
Conversion rate likely higher in US and depends obvs on you, your idea, your pitch, timing etc
I should also add my format: Keep to a maximum of 2 sentences and try to customize it where possible. e.g. "I read your blog on..."
I don't think you're gonna get useful answers here. I would imagine it really depends on who you're pitching to, and how you're pitching. Lets say in aggregate 1% of people get an investment from cold calling. That doesn't imply you have 1% chance. Your pitch could suck so your chances are 0%, or you could be Elon Musk and you have a 100% chance. But the fact of the matter is that you don't know what your chances are. So the only way to find out is to try and see how it goes.
(I don't remember where this idea came from, but it was either from a PG essay or something put out by YC.)
Another thing is that one founder's route to success looks very different based on the strengths and weaknesses of that founder. You can't follow the lead of another founder. You have to play to your own strengths. If you think its a good idea, do it.
Point is, just do it. Start calling people. You'll learn way more than asking other people about it.
Several factors worked in our favor:
- We had an MVP and paying clients.
- In 2017, AI and machine vision were gaining traction and generating a lot of buzz.
- Plus, my academic background likely helped as well.
Most funders and programmes disregard me due to age and gender (f), that’s their loss. These stereotypes aren’t helpful, but they won’t change anytime soon and no point complaining - I’ll just keep killing it.
‘I don’t want to be a product of my environment, I want my environment to be a product of me’ - this quote from the Departed aligns with my view ;)