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I’m super excited to announce that GRP Partners led the investment in Ethan Anderson’s new company MyTime (link has LA-based merchants but will give you a good feel for the product). I acted as the occasional mentor, advisor and coach to Ethan. Let me not bury the lede. The company was called Red Beacon.
You’ll get sales information from your VP of Sales, marketing information from your VP Marketing, tech information from your CTO and so on. But I knew that to be a good decision maker I needed first hand knowledge rather than just a summary from my CTO. But as a CEO you can’t rely solely on this information.
You’re sales person is getting blocked by the CTO who says she shouldn’t go above him but the CTO isn’t approving the deal. Yes, I know it’s my job as the CEO to be the coach for people and that’s fine. Should she take a chance and potentially ruffle feathers? Analysis Paralysis.
Understanding where your VC partner sits in their respective fund and where their fund is in the cycle of its investment lifecycle will help you understand your VCs behavior. Each of your angels or seed investors may have 20-30 investments. What Rob wrote in his post is right. In his spare time he raised nearly $30 million.
Most VCs did well academically and had enough career success that a venture firm was willing to give them an investment role or they were able to raise their own fund. The number one advice I give is “stop trying to be too smart”. It’s easy to think the role of a VC is to have strong opinions about markets, trends, tech dynamics and so forth.
Fred Wilson also wrote on a similar topic in his usual more succinct manner , with a great quote being: “One thing I know for sure is that those who advise and invest in startups cannot and should not meddle in the day to day decision making. It’s harmful and hurtful to the startup and those that lead it.
We spoke to Robin about the new startup, his executive team, as well as his angel investing activity here. Those include how-to on resumes, aptitude tests, videos, coaching seminars, and more of that nature. Robin Richards: Yes, I'm investing in smart young companies that are solving a need.
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