VentureTips…Advice To Those Who Venture

All spot-on advice here in this VentureBeat post on raising VC capital and the patience required to do so.  One point missing is to develop a warm introduction to the VC world.  Work with attorneys or accountants or consultants who have contacts in the VC community.  Take the time to explain your business plan and model to them and ask them if they’d be willing to introduce you to their VC contacts.  If they are reluctant, listen to the reasons why.  We all want to protect our contacts.  If we waste their time with deals we know they won’t invest in, they are NOT going to take our call the next time. 

VC’s are not waiting by their phone for your call.  You need to court them through people they know and already trust.  It is easier to find someone who knows people in the venture community than to know numerous VC’s.  So nurture those relationships, and I’m sorry, but you’re going to need to be patient. 

We can explain this better in person than in a blog…feel free to contact me through the VentureTips link in the header.

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About TechonomicMan

Manager, Entrepreneurial Services at Ben Franklin Technology Partners in Northeast PA.
This entry was posted in Entrepreneurial Advice, Seed/Venture Capital and tagged , . Bookmark the permalink.

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