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Your board should protect you!

Berkonomics

Some investor board members are also member of boards for companies that may overlap in markets or even compete directly, although rare. Should board members therefore withdraw and not participate in corporate planning, coaching the CEO and other issues not related to the duty of care or duty of loyalty? Of course they should not.

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Understanding the Politics of Tech Startups

Both Sides of the Table

We spend all our time as an industry talking about “growth hacking,” “design principles,” or “product/market fit” and not enough about the most important skills for success – people management. It’s why I called out the importance of “executive coaches” in this post.

Startup 385
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The Importance of Realism in Startups

Both Sides of the Table

I made many classic first-time mistakes which serves both as my warning signal of which teams to avoid funding (if I perceive they will make critical mistakes often led by hubris) and also as my source for coaching others. It’s why I believe startup coaches are so important and I wish I know more great ones. Until you know.

Startup 412
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What I Would Look for When Choosing a VC – Knowing What I Know Now?

Both Sides of the Table

I had an enjoyable conversation this morning with a young team straight out of college this morning and they were calling to ask advice on how to approach fund raising (angels vs. VCs, how to select a VC, etc.) VCs should be more of a coach than proscriptively telling you what to do. SEO marketing vs. social marketing.

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Some Reflections on VC Investment Decisions

Both Sides of the Table

I started in 2007 with a thesis that my primary investment decision would be about the team (70%) and only afterward about the market opportunity (30%). Seed investors are aplenty and of course they need downstream money to fuel their early-stage bets. You have to decide how hard to help with downstream marketing for your deals.

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What Startup Advisors Do I Need?

SoCal CTO

But, advisors, coaches, and mentors can often fill the bill. Of course, you will want to work out the specifics of how you plan to work together with the advisor once it becomes more formal and adjust accordingly. This might be technology, marketing, sales, operations, international expansion, etc. That’s great advice.

CTO Coach 241
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What I’ve Learned from Fred Wilson

Both Sides of the Table

So part of playing an effective coach is helping the team to see the answer for themselves. Fred has of course been a public mentor to us all with his market-defining terminology that he popularized including “freemium” and “mobile first.” You need to invest in good markets and bad.