Every VC and entrepreneur knows that rapid feedback loops, ideally in the form of daily or weekly metrics, are the key to success. Yet many VCs seem to lack feedback loops in their own businesses. Which makes Andreessen Horowitz interesting — it sends the following questions to entrepreneurs who have met with the firm:
– Thinking back to when we set up your meeting with the Deal Team, how satisfied were you with the time it took to get that first meeting?
– Were you treated with respect during the pitch meeting? In other words, did the Partner take time to understand your business and ask questions in a thoughtful manner?
– After you met with us, how did you receive a follow-up response?
– Did you get a follow-up response when it was promised?
– How would you rate the clarity, transparency and usefulness of the response itself?
– How did your experience at Andreessen Horowitz compare to that with other VC firms?
– How likely are you to approach us for future fundraising?
– How likely are you to recommend Andreessen Horowitz to a friend or colleague?
– How could we have made this a better experience for you as an entrepreneur?
The questions are great, and they try to make them easy to answer (most have clickable answers on a scale of 1-5 or a simple drop-down). And yet… I suspect this survey gets a low response rate. How would you redesign this to get a higher response rate?