As a follow-up on the earlier posts, Guy now writes about ways to
attract the interest of venture capitalists.He provides some tips to aspiring entrepreneurs in fielding VC questions.Among them - don't fall for old trick questions. Venture capitalists will try two trick questions on you in order to assess your degree of cluelessness.
(1) Do you see yourself as the long-term CEO of this company? (2) What is the liquidity path for your company?“ The right answer for the first one is, ”My goal is to build a great company. If it means that I need to step aside, I will gladly do so when the time is right.“ The right answer for the second one is, ”Frankly, I haven't given a lot of thought to liquidity. My team and I are heads down and focusing on finishing the product. If we build a great company, I'm confident liquidity of some form will occur.“
While it makes interesting (funny) reading, I just can’t overlook the fact that the word –“customer” appears only twice and the word market appears just twice!! May be this is the art of pacakging!
Category :Venture Capital
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