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10 Tips From A Venture Capitalist Who’s Heard It All Before
- If you can’t write it down, or don’t know how, don’t start.
- Can you take it? Day after day?
- If you want a partner, find someone who is good at what you’re not.
- Figure out exactly how slowly you can make money.
- No one will give you money for a bad idea, and they’ll want the moon for a good one.
- Big names don’t make the best advisers or business partners.
- Persistence, bobbing and weaving, and luck mean more than an MBA.
- Don’t sell an “If we get just a 1% market share” story.
- Your spouse and friends can only take so much.
- If you’re doing it properly, you should be going home four or five days per month hating what you’re doing.
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Jim Logan on February 24th, 2005 6:02 pm
Thanks for the list! It’s a keeper.
The one that gets me is #8. I once worked for a company that launched a business strategy to be a $1B company by gaining 10% market share in a large market. To me and others, we heard we were going to launch ourselves into a market whereby we planned to loose $9 of every $10 spent. Hardly exciting.
Needless to say, the company never came close to $1B. It lacked a plan to be anything more than a mediocre player in a large market.
Business Opportunities Weblog En Español on February 24th, 2005 6:25 pm
10 Tips de un Empresario Capitalista que lo ha Escuchado Todo
Globe and Mail: Si no puedes escribirlo, o no sabes como, no empieces. ¿Puedes afrontarlo? ¿Día tras día? Si quieres un socio, busca a alguien que sea bueno en lo que tu no eres. Date cuenta exactamente de que tan…
robhyndman.com on February 27th, 2005 6:01 am
10 Tips from a VC
Via Dane Carlson, a Globe article on 10 tips for entrepreneurs from an experienced VC.
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