Quick guide: how to make investors avoid you at the conferences

As a venture investor, I get to attend a lot of conferences, and let me tell you, there's a recurring problem that never fails to make me roll my eyes. Too many startups show up without any preparation or understanding of what we do or invest in. And it's not just me – other investors I've talked to feel the same way.

But why, you may ask? Why do startups spend all this time and money coming to conferences only to squander their chance to pitch to investors? It's not because they're too busy, surprisingly. During a workshop I conducted in Tartu on fundraising during times of crisis, I found out that many startups simply lack knowledge about how investors operate.

So, to help startups up their game, I'm going to share with you the top five common mistakes that startup founders make when approaching investors at conferences:

1. Approaching every investor in the matchmaking app without doing their homework. I mean, come on, guys! VCs don't own the money they invest - they're managing someone else's money. And that means they have strict investment rules that are set in stone. So, if a VC says that their minimum investment is €500K, don't try to pitch them on a €200K raise. It's not "even better for the investor because we need less money." No, it just means you're not a good fit. Spend some time before the conference researching the investors that will be attending, and only approach those who are a good match. Trust me, it'll save everyone a lot of time and hassle.
2. Spamming all investors with the same message is a startup sin! Seriously, guys, sending out generic messages to all investors in the conference app is not going to get you anywhere. It's a waste of time, and it also annoys investors. Do you answer spam messages? I sure don't. But, if you take the time to personalize your message and highlight why your startup is a good fit for the investor's portfolio, you're much more likely to get a response.
3. Cold approaches rarely work in the startup world. You can't just walk up to investors and expect them to be interested in what you have to say. Instead, you need to leverage your network and ask for introductions to investors you want to meet. A warm introduction can go a long way in increasing your chances of securing a meeting and improving your credibility.
4. Investors are people too! They want to work with founders who are passionate about their startup and understand their vision. It's not just about the money. Startups should avoid approaching investors solely as a source of funding and aim to build relationships with them. And, let's be real, you're going to be spending a lot of time with these people over the next few years, so it's better to get along.
5. Don't spend all your time pitching during meetings with investors. Investors attend conferences to meet lots of founders in a short amount of time. So, if you want to stand out and make sure the investor remembers you, try to use the time to build a relationship and determine if there's a mutual fit. After all, nobody likes to be talked at for twenty minutes straight.

I won't mention some really ridiculous cases here, such as startups sneaking at the investors' event and pitching to everyone they see or startups hunting for the investors at the restroom (true story, btw). I hope those are exceptions :)