« Why VCs Do Not Sign NDAs | Main | Build Rapport »

Concerns About Successful Entrepreneurs

VCs generally get excited about backing entrepreneurs that have already successfully exited a venture. However, the stereotype of the repeat entrepreneur brings with it a concern.

Good VCs expect repeat entrepreneurs to act as partners, as they do everyone else. However, first time entrepreneurs or entrepreneurs that have failed in prior endeavors are known for being more receptive to feedback and willing to engage in a healthy exchange of ideas.  Repeat successful entrepreneurs are expected to be more stubborn, because they haven't yet experienced a humbling business endeavor.

As a result, repeat successful entrepreneurs should make sure to show VCs that they are team players. The best way to do this is by being friendly in the meeting and by being receptive to feedback.  If you immediately dismiss a VCs reaction to your business plan, they'll assume that you'll dismiss them as board members in the future.

VCs are sensitive to this issue.  So go the extra mile to demonstrate that this won't be a problem and it will be even easier for you to get the deal done.

Comments

blog comments powered by Disqus