linkedin post 2013-02-03 07:05:33

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BEING CURIOUS CAN LEAD TO REALIZING THAT THE EMPEROR HAS NO CLOTHES as this author explains, when arriving at a contrarian view of leading business thinkers. Let's not forget that business theories, like anything else, run in fashion lockstep, dominated by a popular idea quite often, and how healthy it is to take a step back and apply the sniff test. http://lnkd.in/rXTsqy View in LinkedIn
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linkedin post 2013-02-04 15:07:08

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WHEN A BUSINESS GOES SOUTH the entrepreneur is faced by a dilemma regarding Friends and Family (F&F) investors. A few entrepreneurs feel that these F&F took their risks based on greed and hopes of gain, and that was the name of the game. Other entrepreneurs feel an ethical obligation to make these F&F whole again. When entrepreneurs act ethically, they can go back to the same pool later, and future investors do not discover this nasty secret in their past. Which choice would you make? View in LinkedIn
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linkedin post 2013-02-04 14:53:43

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BEWARE OF "PAY TO PLAY", a particularly cynical maneuver developed by some US VCs: you managed to get F&F to invest in your seed round. These were people who trusted you and wanted to support your idea. A VC comes in, and says that unless earlier investors come into Series A pro-rata, they will dilute them to nothing. Needless to say, this is a death wish for VCs playing this game. Be sure when you get involved with a VC firm that they do not have a history of this nasty strategy. View in LinkedIn
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linkedin post 2013-02-04 14:47:08

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IN GENERAL, MOST VCs DON'T MAKE GOOD ENTREPRENEURS, AND MOST ENTREPRENEURS DON'T MAKE GOOD VCs. They are different skill sets, requiring different personalities and different mindsets. A VC is also spread very thinly across many companies, and sees a large range of plans; an entrepreneur is deeply focused on one enterprise. Don't expect your VC to be your mentor, because usually they do not have time. They are really there to see that nothing bad is happening to their investment. Count it a blessing that they remain supportive and stay out of the way, as long as you show progress. View in LinkedIn
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linkedin post 2013-02-04 14:36:56

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YOU DON'T KNOW WHAT YOU DON'T KNOW. Sounds obvious? Think of the many BlowHards you know that do not think this way. If you bear this in mind, it will help give you genuine humility and curiosity. A know-it-all never constructs their world with this fundamental viewpoint. Why does it matter? Because you cannot be curious without humility. And genuine curiosity is perhaps one of the greatest assets an innovator can have. View in LinkedIn
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linkedin post 2013-02-04 14:30:55

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EXPERTS ARE DIFFERENT FROM MENTORS. All mentors are experts to some degree, but few experts are mentors. An expert has deep and narrow knowledge, but has not had entrepreneurial success or leadership experience in startups: they are superb at solving specific technical questions. Mentors are successful entrepreneurs who also have deep sector knowledge, although usually not as deep as experts. They are excellent guides for CEOs and founders in High Tech startups. When seeking advice, it is sound policy to separate these categories. Experts belong on SABs, Mentors on boards. View in LinkedIn
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