17 de junio de 2008

How to pick a VC

Otra joya del former chief evangelist de Apple:

Many entrepreneurs ask me what is the best way to open a pitch to potential investors. I'll answer that question
at the end of this posting, but first let me tell you the ten worst
opening lines that you can use:

  1. You say: "I'm bright and ambitious." Investor thinks: "That's a relief because I usually invest in stupid and lazy people."

  2. You say: "I'm a blue sky thinker." Investor thinks: "You have no business model, and you don't know how to ship."

  3. You say: "I don't know much about your firm, but I thought I'd
    contact you anyway." Investor thinks: "You're a lazy idiot--why are you
    wasting my time?"

  4. You say: "I love to think of new ways to solve problems." Investor thinks: "Is this a high-school science fair?"

  5. You say: "I have lots of great ideas, but I have trouble
    figuring out which one to try. Let me tell you about a couple."
    Investor thinks: "I want to know which idea you're going to kill
    yourself trying to make successful, not which ideas have crossed your
    idle mind."

  6. You say: "I've always wanted to be an entrepreneur." Investor
    thinks: "I've always wanted to be a professional golfer. So what if you
    always wanted to be an entrepreneur?"

  7. You say: "I'm sure you are aware of the growing need for
    security. Web 2.0, Open Source, whatever." Investor thinks: "If you're
    sure I'm aware, why are you telling me you're sure I'm aware."

  8. You say: "If you sign an NDA, I'll tell you my idea." Investor
    thinks: "You are clueless. How can you not know that venture
    capitalists don't sign NDAs?"

  9. You say: "The last time I contacted you, I..." Investor thinks:
    "I'm going to fire my secretary for putting this clown on my calendar

  10. You say: "My goal is to build a world-class company." Investor
    thinks: "How about you ship and sell the first copy before we talk
    about world-class anything?"

Via Abladias
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