In the past I’ve written on the topic of “Raising Venture Capital” but today I’m starting a new series called “Understanding VC’s.” My goal is writing this series of to make it easier for you as a startup needing to raise money to understand how venture capital firms work so you can be more efficient and more effective in your process.
In today’s post I want to talk about the concept of a VC flightpath. This is my description of a VC process, not one I’ve heard from other VCs so don’t expect it to be accepted nomenclature. But I use this all of the time as a metaphor when talking with entrepreneurs in person and I’ve found it to be a useful way of explaining to entrepreneurs what is going in in the VC’s life.
When you visit a VC to tell them about your wonderful idea it’s easy to imagine that this person is not evaluating any other deals at the moment. I have no idea why, but that’s always how it always felt to me when I was an entrepreneur raising money. Of course I knew that they sat on other boards that kept them busy but somehow it seemed like I had all of their attention to myself during the fund raising process – especially the ones who seemed to like me and spend time with me. Even when you’re getting the VC love this reality I imagined couldn’t be further from the truth.
To read the full, original article click on this link: Understanding VCs – Where Are You on the Flightpath?
Author: Mark Suster
Mark is a 2x entrepreneur who has gone to the Dark Side of VC. I joined GRP Partners in 2007 as a General Partner. I focus on early-stage technology companies. Read more about me.
