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When You Don’t Have All the Answers
Allen Morgan has posted his Ten Commandments for Entrepreneurs — the 10 things you should know when approaching venture capitalists. He’s in a position to know. He’s a general partner and managing director with Mayfield, one of the top Silicon Valley VC firms. In Commandment #8 – Know What You Don’t Know — and Admit It, he says it’s sometimes OK not to have an answer to a VC’s question. Some questions aren’t “answerable” at certain stages of the business. But if it is “answerable” and you don’t know, whatever you do, don’t fake it!
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