How to conduct a second phone interview with a VC?

First, make sure that as part of a follow-up call, a General Partner is participating. Without a GP participating, the opportunity is actually not advancing in a meaningful way.

Second, highlight what's new since last you spoke. It's likely that they identified some potential promise in what you're doing and want to check-in. The best way to build credibility is to show that the things you said you were going to do, you've done, and that momentum is building.

Third, answer their questions concisely and to the point, and no more than the answer to the question.

That's all the generalizable advice I can offer without knowing more of the specifics of your situation and what kind of investor you're dealing with. Happy to talk to you in a confidential call.

Here is where your poker skills come in because you need to create demand for your deal. Investors chase rabbits, so you have to figure a way to show that your company is the rabbit other investors are looking for.

If you are on Angel list a simple review, comment, or referal rom other investors could raise the level of interest and help you close. Not all investors are lead investors some just want to participate, if you have met with someone who commits have them post it, other investors will see it.

I'm not very fond of press releases but if there is something that changes perspective or adds to the "deal" heat is a press release. Use the PR as leverage saying -Hey we were just menitoned on "x" publication.

When a VC asks, when do you expect to close? Give them a short time frame 2 to 3 weeks because you want to get back to running and building your company.

Finally ask them openly what do they need to know in order to get the deal closed (KPI's, balance sheet, MVP's, etc)

Happy to talk more strategy :)

First, don't be nervous. VC's are obviously looking for numbers. While base line numbers are important, there are obviously other factors. You have to explain what was accomplished in the month. IE building a product, getting X done with the process, or how what you did will get you to the next stage, is important. If you tried something and it didn't work, thats okay too. However you need to explain how your mistakes won't happen again and give a detailed explanation on how you've fixed those mistakes. Throughout the entire process don't answer too much. What I mean is, make sure you focus on the good and answer their questions but don't go too far off topic on what they are asking you about.

If at anytime they say they need to move on, its okay. But don't let go. Ask them if you can still keep them updated and if at a further point when you have more traction, if you can ask for another meeting. Good luck!