Most technology entrepreneurs should talk to VCs, even if they aren’t planning on raising money in the near term, or possibly ever. Why? Well, there are lots of reasons why. Let’s take a look at a few:
- Developing rapport with VCs now helps in the event you do decide to raise money in the future as the fundraising process can’t be rushed, and typically takes twice as long as expected
- VCs regularly encounter hundreds of businesses, thereby offering a sounding board, insight into trends, what’s working, and what’s not working
- VCs are generally well connected, offering introductions to prospects, partners, etc. which can be invaluable
- VCs ask the tough questions, forcing you to more critically analyze your business, and better understand key metrics
My recommendation is to reach out to VCs and start developing relationships, even if you don’t have current fundraising plans.
David Cummings on Startups 