Venture Capital Tips from Fred Destin

Ishac Bertran recently attended the Lift10 conference where he and his fellow collaborators exhibited their Linyl project with much success. (No surprise there.)

Ishac also compiled some most useful notes from a lecture Fred Destin hosted about Hacking Venture Capital.

The workshop was divided in two parts: “Pitching and getting through the deal selection process” and “Negotiating the venture investment”. It was a hands-on workshop, with good discussions around the pitches and negotiations that groups of attendants were asked to do. People were quite into the topic, so I was mostly listening to them. In my group of 4 for example, they were 3 VC and me. I really liked the way they were dealing, sharp, to the point.

• “The pitch should be able to be summarized in the back of a business card.”
• “The “price per share” is what matters, not the value or the % you sell.”
• “Don’t rely on anyone, is your job to know the rules of the game.”
• “Don’t over pitch, let the VJ feel curious about your story.”
• “The price of the company is a discovery process, don’t say a percentage or how much the company worth at the beginning.”
• “Nobody reads a business plan. Nobody reads the executive summary. Nobody signs an NDA. Don’t lose your time on them.”
• “Repeat your high concept pitch (3 words) a lot, VC will remember you for this and your first impression.”
• “It doesn’t matter what you say, it’s how you say it. Practice!”
• “Tell a story, talk about why you needed it, what people say about it.”
• “Sell yourself and your team more than your company.”

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This entry was posted on Thursday, May 27th, 2010 at 1:04 pm. It is filed under Spiritual. You can follow any responses to this entry through the RSS 2.0 feed.

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