Ten Commandments for Entrepreneurs

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.

The March 2008 print edition of Entrepreneur includes "Money Blogs," an article on venture capitalists who blog.  It cites the Seeking Alpha investment Web site which lists over a dozen VC bloggers.

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]

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