In step 1, you identified a laundry list of investors. In step 2, you whittled down your list of venture capitalists, angel investors, corporations, etc to a list of firms or groups who might be relevant to your business based on a variety of factors.
With your executive summary in hand, an amazing pitch email, a shiny well-polished elevator pitch and people in your network ready to introduce you to your chosen list of investors, what is next in your reverse due diligence process?
Now your attention turns to figuring out which individuals at the firm you should pitch and doing due diligence on them. If you’re building an internet business, you don’t want to try and get in front of the partner at a venture firm whose focus is semiconductors. Of course, if you happen to meet that partner, go ahead and give them your pitch but the goal is to target the right individuals at the firm.