The team, who are making their first appearance at the Games since Barcelona in 1992, are on average 5 cm (2 inches) shorter than their U.S. rivals, who beat them 80-45 in a July exhibition match.
"We play defence, we play physical because we're small," said veteran John Cox, who at 196 cm (6 foot 5 inches) is one of the smaller players on the team.
"We'll grind it out. It's going to be a defensive game for us, every game, and physical."
Venezuela open their campaign against Serbia on Saturday, knowing that to have qualified is an achievement.
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"I didn't think we would make it, that's why it's so surreal right now," said Cox, 35, who was born in Caracas but raised in the United States and lives in Las Vegas.
The team aim to survive to the quarter-finals, but will face an uphill battle as other Group A rivals China, France and Australia are all favoured to beat them.
But a good showing would provide a psychological lift to Venezuela, suffering through an economic crisis that has brought a three-year recession, triple-digit inflation, product shortages and long lines at shops.
"You've got to play really, really high-level, top basketball," said Cox. "You can't turn the ball over. You've got to execute. If not, you're not even going to be close. For us, we have to play our best basketball to win these games."
(Reporting by Scott Malone; Editing by Neil Robinson)
