Entrepreneurs: Whose Money Do You Want?
by Miki Saxon
When it comes to marketing, it’s always important to separate the reality from the hype.
Millennials are supposed to be especially good at ignoring the hype and are supposedly brand-immune.
But not when it comes to funding their dream.
When they’re hot for a deal, VCs will promise all kinds of active help, from introductions and actual engineering help to workspace and wisdom.
And when they’re wining, dining, waving their checkbooks and promising anything you ask it’s hard to remember your dudil.
That’s when it’s most important.
But don’t listen to me, listen to Vineet Jain, CEO and cofounder of cloud storage firm Egnyte.
“Most VC firms say we give you more than money. That’s complete hogwash.”
The same holds true for angels.
So, how do you do dudil on an angel or VC?
Search their name along with words, such as ‘sucks’, that are commonly used for complaints.
Ask your peers; not just the portfolio CEOs, but any who have been raising funds or been around for awhile.
And when you ask, shut up; don’t disagree and don’t argue. Just listen.
Plenty of time later to sort out what you’ve been told.
All relationships are based on trust; if an investor says what you want to hear, or what’s convenient, just to get the deal, then you should have a pretty good idea of just how much help they’ll be down the line.
Flickr image credit: 401kcalculator.org
