I’ve been in several board meetings as an observer on some of our portfolio companies (Disclaimer: I work with a VC fund), and thus have had the privilege of observing dynamics from both sides of the table – VC and entrepreneur. A few unifying themes that any entrepreneur in Singapore should know:
1. The VC-entrepreneur relationship is key
This stems from both parties having the trust in each other to add value to the relationship, based on a mix of data points (ability to execute, domain knowledge, and above all, genuineness). Note: Different parties can do whatever it takes to get the investment agreement signed. Things can be all rosy and positive pre-deal, and quickly turn ugly post-deal.
So for entrepreneurs, as much as the VC is assessing you, do make your own assessments and see who are the best partners for your business.
2. Team > Ideas
Ideas will always change, it is inevitable. Given that, you will need a team that: 1) has the flexibility to recognise opportunity and change the business plan accordingly and 2) has the right skills and resources to take the business plan forward.
This is typically what VCs want to see, especially for early stage companies.
3. Zero Cash Date
Critical point for every entrepreneur to have front-of-mind, all the time. Track on a monthly basis, and let it be known to the key stakeholders (this includes founding team and employees). Communication of this keeps everyone aligned, and its better to track it early than later, especially at the early-stages of a company.
VCs would definitely appreciate if entrepreneurs always keep this in mind, because this forms the foundation of how the entrepreneur allocates resources within the company.
cialis 20mg
Follow