""We want to be the first check in." "We add value" 'We are responsible investors". "We're in for the long run". "We back outliers" and the oh-so-famous "Let me know how I can be helpful".
then what they should look for is a skilled operational partner with a high-ish IQ and a stable personality, almost certainly with access to money that can be used for bootstrapping the business. You know, a virtually nonexistent unicorn in the circles that most people operate. Someone who is as rare as the right spouse. That combination is worth a hefty percentage.
VC money isn't optimal for the initial startup phase. Everyone will be happier, detail nitpicking will be nonexistent, and the VC involvement will be more natural at the point in which customer acquisition rate and the cost of that volume is outpacing revenue, which should be the exponential growth curve often in years 5-10. Sometimes an acquisition comes soon after.
If a founder cares about their business, then asking VC to essentially be their startup partner is asking for trouble in a lot of instances.
""We want to be the first check in." "We add value" 'We are responsible investors". "We're in for the long run". "We back outliers" and the oh-so-famous "Let me know how I can be helpful".
then what they should look for is a skilled operational partner with a high-ish IQ and a stable personality, almost certainly with access to money that can be used for bootstrapping the business. You know, a virtually nonexistent unicorn in the circles that most people operate. Someone who is as rare as the right spouse. That combination is worth a hefty percentage.
VC money isn't optimal for the initial startup phase. Everyone will be happier, detail nitpicking will be nonexistent, and the VC involvement will be more natural at the point in which customer acquisition rate and the cost of that volume is outpacing revenue, which should be the exponential growth curve often in years 5-10. Sometimes an acquisition comes soon after.
If a founder cares about their business, then asking VC to essentially be their startup partner is asking for trouble in a lot of instances.