How do you test #4?
Someone recently asked me: "Which founder traits have you found matter that you didn’t previously think did? And which don’t that you previously believed were important?" Here's what I wrote:pic.twitter.com/nN4mrJ94F5
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Pretty hard to do well during 1-2 meetings. You can kind of get a sense though if someone has an "I'll do whatever it takes" attitude, or if it's more of an "I'm really good at X and excited to only do X" attitude.
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Max back squat and fran time.
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Curious as to where age fits in? Or is that part of the industry experience component?
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I don't think it has to be a lot of experience. Even 1-2 years can be enough. IMO the key is enough industry experience that you don't make bad assumptions/stupid mistakes related to the industry's dynamics.
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Doesn't the first reason suggest a huge opportunity to scoop up undervalued companies that other investors are ignoring based on a superficial characteristic of the founder?
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Yes. The challenge is if your filter is "I meet with founders who don't pitch well" then the signal-to-noise ratio will be weak :).
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This is 100% in agreement with my learnings as investor and entrepreneur. Essentially, early stage VC is a founder business and NOT a startup business.
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+1 for Founder/market fit. Can be a force multiplier in terms of prior experience, contacts (first hires, customers) and solving previously unaddressed customer needs.
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Lol I received this as a notification and thought it was a PM
. I remembered the tweet from a while back and promised myself I’d work on a few of those points.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Thanks for sharing. Also, just listened to your talk on
#20minvc and found your insights helpful.Thanks. Twitter will use this to make your timeline better. UndoUndo
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thx for sharing :)
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This is great, thanks for sharing
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Really good thank you
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It seems a lot of founders fit 4 & 5 but aren't great at 1-3. What do you see as their role at the start up? Do you recommend these folks bring in a CEO for instance?
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tl;dr Ability to raise money from someone other than me
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