Coffee with a VC Analyst
Today I went and met with a person I was introduced to via someone I did an interview with for the first issue of Shoe String Launch magazine. Basically it was a Business Development meeting where I was seeing him about recruiting someone for him in a sales role for his startup business in the travel industry.
It was one of those meetings that you initially think will be half an hour, that actually went much much longer than what I expected. It turned out that this guy I was meeting with prior to launching his own tech startup was a Venture Capitalist Analyst overseas in the UK and USA. My offer to him was from my perspective was a great one, however as we got deeper into brainstorming and built a stronger rapport he made me realise that by making a few slight changes to my whole business model I would achieve the following:
- Be a much more attractive and risk free service to other startups
- Help startups by playing a pivotal role in endorsing them to VC’s
- Create a unique service in the startup community that does not exist yet.
Instantly my product offering was enhanced and we will start testing the slightly altered model as early as next week. So what did I learn today? VC Analysts are people that you should definitely have as a part of your mentor portfolio, especially if you are a tech startup seeking investment. They are the people that look at startups and assess the risks, identify the flaws in the plans and ultimately their advice is what will determine your success in getting funding for your startup.
Do you agree? What background do your mentors come from?