Think Like a VC

dbasch.posterous.com

47 points·diego··5 comments

When you first meet a VC, he/she will be trying to assess whether you are looking for a home run, or would be content with an early exit... "how does your company get to make tens of millions a year" they want to know that you are seriously considering building something big... They are interested in your reaction, your body language, and the fact that you've spent brain cycles on this.

^ I completely agree with this. I've been asked many times "How big will this get?", and being the modest person I am I would reply "I don't know.", because I am a realist and I know things can be hit and miss -- I really didn't know... but I've since learned that modesty doesn't sell. At all. Be ready to answer this question.

"Hard to say, the business might need to change in order to be successful."

http://37signals.com/svn/posts/1805-lets-just-call-plans-wha...

The trend of celebrating VCs like gods is such a vacuous endeavor.

Agreed, but the post didn't do that. It painted a pretty accurate picture of VCs as people with a big pile of money that they want and need to turn into more money.

About the only thing I found objectionable is the equation of "changing the world" to "making a shit-ton of money". These are not synonymous, there are plenty of efforts in one category but not the other.

If we thought like a VC we wouldn't get any work done, what with all of the hookers and blow.

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