Answer these 7 questions before your first call with VC

By Elena M. , partner at F1V 

I had about 150 first calls with startup founders in 2024. I’d always ask them these questions.

1/ What’s the origin story behind your company?

I'm a big fan of storytelling, and for pre-seed and seed startups, it's crucial. Founders should be able to clearly articulate their startup's origin — it’s part of their sales pitch.

Write your story down, rehearse. You can reinforce it with key metrics like CAC, LTV, as well as engagement, conversion, and retention rates. But keep it short.

2/ How did you meet your co-founders/first employees?

Early hires define a startup's DNA. They also show whether founders can convince great people to join them. Great teams don’t come together by accident. If a founder hired someone just because they were available, that's a red flag.

Tell the investor how your idea and your persona can bring superstars to the team.

3/ How did you get your first customers?

Selling is one of the most important skills for an entrepreneur. Understanding how founders sell their product or service reveals a lot about the future of their business.

Prove that you’re good at selling with paying customers, revenue or growth metrics, and partnerships made.

4/ Who is responsible for what in the team?

Unclear roles mean a lack of structure and bad decisions. If multiple people own the same process, no one owns it. 

Explain who does what in the team and how you delegate responsibilities.

5/ What expertise are you lacking right now?

Self-awareness is a vital skill in life and business. Admitting gaps isn't a weakness — it shows a founder is ready to build a strong team.

Describe who you plan to hire in the next few months, and how these people will help grow the business.

6/ What can go wrong in the next 6-12 months?

If a founder says their biggest risk is "competition," they're not looking deep enough. What’s the real bottleneck? Hiring? Scaling? Churn? 

Demonstrate that you can identify what could break and take action before it does.

7/ What help do you need from VCs?

Investors aren't ATMs, they are partners. So think beyond cash: What intros, expertise, or advice could change the game for you? 

Ask for that.

If you are an early-stage startup founder building a company that aligns with our investment thesis and seeking to raise funds, you can send your pitch to F1V: Use our Typeform. Hope we can work together.

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