Startup advice

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kim
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Startup advice

Post by kim » Tue Jul 10, 2018 5:47 pm

Your VCs aren't the boss. They should work for you. But 10 ideas to keep them calmer, happier -- and on your side:

1-/ Respond to emails. You don't need to take their suggestions. But do reply.

2-/ Send out monthly updates, and quickly. Instills confidence.
6:20 PM · Jul 5, 2018
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Jason M. Lemkin 🦄
@jasonlk
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Jul 5
Replying to @jasonlk
3-/ Share bad news, without drama, quickly. They are built to handle it.

4-/ Don't expect another check. Assume your VCs are "one-check-and-done"

5-/ Do board meetings every 6 weeks. Less is too much. Longer everyone gets out of touch.
Jason M. Lemkin 🦄
@jasonlk
·
Jul 5
6-/ Do a dynamic, rolling forecast of your revenue and zero-cash date. Just base it on the average of the last 4 months.

7-/ Don't cover for VPs that are failing. But also, stick up for non-traditional VPs that are excelling.
Jason M. Lemkin 🦄
@jasonlk
·
Jul 5
8-/ You talk less -- have your team talk more. In board meetings, company meetings, whatever. They all hear enough from you.

9-/ Have 4-5 crisp goals for the company. Clearly present progress against them.

10-/ Know your Zero Cash Date, share it, and plan around it.



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