A Serial Entrepreneur’s Take On Brad Feld & Jason Mendelson’s Venture Deals - Page 3
• Limited Entrepreneurial Perspective – Although Matt does a serviceable job of providing the voice of the entrepreneur, readers would be well served to hear from multiple entrepreneurs who have been bloodied by the fundraising process.
What Not To Do
Although Venture Deals primarily describes what an entrepreneur should do to facilitate the funding process, I found the brief chapter describing what not to do to be especially instructive. The mistakes outlined in this chapter include several that I have seen entrepreneurs make when pitching me, including:
• Don’t Ask For A Non-Disclosure Agreement
• Don’t Email Carpet Bomb VCs
• No Often Means No
• Don’t Ask For A Referral If You Get A No
• Don’t Be A Solo Founder
• Don’t Overemphasize Patents
Venture Deals Has Made My Life Easier
The typical sophisticated investor crafts funding rounds for a living, whereas an entrepreneur usually raises money a handful of times over their entire careers. Venture Deals helps level the inherently skewed fundraising playing field by providing a window into venture capitalists’ bag of tricks, while guiding entrepreneurs to remain focused on the deal points that matter most.
For the past several years, I have directed my students and other emerging entrepreneurs to AskTheVC, as well as Feld Thoughts. If you have an ad hoc funding question, these sources may still satisfy your needs. However, if you are an emerging entrepreneur seeking institutional funding, the time and monetary investment required to read Venture Deals will undoubtedly yield a positive ROI.
Venture Deals has made my life easier by providing me with a one-stop repository of fundraising advice that I can recommend to my students and other emerging entrepreneurs. Since its publication, I have referred hundreds of entrepreneurs to Venture Deals, most recently at a keynote talk I gave to 300-budding entrepreneurs at Cal Tech. If you are an emerging entrepreneur contemplating the mysteries of the fundraising process, Venture Deals will undoubtedly make your life easier as well.