When I was involved with an Internet start-up during Internet Bubble 1.0, I went with the partners to a meeting of venture capitalists. Duck was served instead of the inevitable business chicken plate, I was one of three women of over 100 people present, and the only males not in business suits were the Internet start-up partners.
Given that’s all I remember, except that I thought the men looked handsome in their suits, I was obviously clueless.
I could have used a list of ten commandments for entrepreneurs seeking venture capital.
For Internet Bubble 2.0 entrepreneurs, a list exists.
On that list is Allen Morgan, Managing Director at venture capital firm Mayfield Fund, and author of allensblog. Morgan has written "’The Ten Commandments’ for Entrepreneurs — my ideas of the 10 most important ‘procedural’ things to keep in mind when you approach a VC."
While Morgan wrote the series in 2004-2005–and is currently not blogging out of respect for SEC rules–the blog posts are thought-provoking and controversial, and generated diverse comments.
I played librarian and organized them. Here they are for your perusal.
Ten Commandments for Entrepreneurs – Introduction and Commandment #1
Commandment #2: Be on Time
Commandment #3: Tease, Don’t Overwhelm
Commandment #4: Know Your Audience
Commandment #5: Create the "Aha!" Early
Commandment #6: Explain Your New Idea by Analogy To, or Contrast With, Old Ideas
Commandment #7: Limit Yourself to the Baker’s Dozen
Commandment #8: Know What You Don’t Know – and Admit It
Commandment #9: Be Like Goldilocks
Commandment #10: Control the Meeting (But Be Smart About It)
"Managing" Your Board of Directors [Addendum to the 10 Commandments with reference to John Kernan]