Comments on: Can you get VC money and mentors if you don’t play hockey with Guy Kawasaki?

By: JJ

JJ — Wed, 28 Feb 2007 16:52:12 +0000

I’m part of a team actually offering a possibility of playing hockey with Guy Kawasaki! Check out our auction on eBay, we’re one of the teams in Stanford’s Entrepreneurship Week Challenge. Thank you!

By: Jawwad Farid

Jawwad Farid — Fri, 28 Jul 2006 14:47:01 +0000

But do you really need VC money?

Yes to have a pot of money simplifies life and removes a number of complications, but is that the right short term goal? The amount of time that you spend searching for venture capital, may be better utilized working with customers, building a product, figuring out how to get to revenues and getting your business closer to your next big produtive milestone.

I say this because I have two different experiences. My first involved spending more than two years looking for the elusive VC cash, ignoring real customers who could have supported and carried the business further. End result – death by business plan rewrites and the search for a better valuation.

My second experience involved building a business from scratch with no VC funding at all. In the same amount of time it took the first one to fail, the second supported 12 employees and became cash flow positive from its 6th month. Today the businesses grosses 250,000 dollars in revenues in a country where the average per capita income is less 800 dollars a year. Yes it is small but it is ours.

I would take a look at what you want to achieve and see if I can find some way of getting there without VC funding. It will be a slower, more painful journey but atleast I will get somewhere.

By: Diane Ensey

Diane Ensey — Tue, 11 Jul 2006 23:06:36 +0000

We live in a fairly small city (80,000) and my husband found a way to meet every influential decision maker in the city – he showed up at a task force meeting about revitalizing the downtown. There were about 30-35 people there, but each one, except for my husband, was one of the “old school”. Not that that was held against him at all. He made some fabulous contacts that he has followed up on

By: Creation Step

Creation Step — Mon, 10 Jul 2006 16:52:17 +0000

Its Not Just Who You Know

There is no doubt about it, that knowing the right people can help when growing or starting a business. What is not often considered is that knowing someone is not enough. Most people who have the influence to help or make things happen have the intell…

By: Paula Gregorowicz

Paula Gregorowicz — Fri, 07 Jul 2006 14:35:31 +0000

Super advice Pam. I always think – I wish I said that myself!

What I am learning is that contacts and relationship building takes time. So, the contacts I made several years ago and kept in contact with are now a great resource and support for me. As you build the trust over time, you not only learn from them but open the doors in the future for informational interviews, informal mentoring, and potential strategic ventures.

I am also a HUGE fan of being a self-directed learner. Let’s face it, school’s out. It is up to YOU to find the resources and knowledge you need. Libraries are great, the internet is super, and even low-cost strategies like subscribing to free podcasts or audiobook subscription services like audible.com allow me to “read” (ala listen) to a wealth of business advice on my drive to/from my day job and at my desk when things are slow (or the work is tedious/boring).

And kudos for the very creative, catchy title for this post. Love it!

Warmly
-Paula

By: Soni

Soni — Fri, 07 Jul 2006 10:07:45 +0000

Great website and great advice

i am preparing to launch a micro-isv in the software field. i am in the final phase now – i’ve just had to build the product (:

yours advices match my progression up to there and make a good recaps. they encompass what i’ve done counsciously or not.

i’ve read only one of your post and will certainly come back to read more

Thanks a lot

Soni
Conanza.com

By: Sean Wise

Sean Wise — Fri, 07 Jul 2006 00:22:58 +0000

Great post as always, but for the record, even some of us “biggies” have open door policies…..even if we like Hockey!

Sean Wise
Wise Mentor Capital
Dragons’ Den

———

Good to know Sean! Somehow I had to think the title of the blog post would catch your eye, being Canadian and everything. I am sure Guy is not the only VC who plays hockey, eh?

Best of luck on your show auditions!

-Pam

By: robert

robert — Thu, 06 Jul 2006 19:53:53 +0000

Invaluable advice. I guess there are times when one way or the other, everyone of us, Guy included, must have thought or perceived ourselves to be insignificant life forms who were unable to access the right old boys networks or get invited into the right club.

Persistance and lack of fear of rejection is required to get what you want. Adopt the DI principle.

By: Josh

Josh — Thu, 06 Jul 2006 17:21:20 +0000

Great site, Pamela – I’m a fan!

For help with creating your entrepreneurial learning plan, you may want to check out the Personal MBA: http://www.joshkaufman.net/personalmba/

By: Allen Eskelin

Allen Eskelin — Thu, 06 Jul 2006 16:42:06 +0000

Good suggestions Pam. The only thing I would add is that it’s never too late to start making those connectons as well. It takes time to build strong personal relationships in business. I recommend a great book on the topic called Never Eat Alone by Keith Ferazzi. Keith recommends focusing your efforts on helping others when networking instead of trying to meet people who can help you. He says that building strong friendships with people you’ve helped can only improve your chances of success, especially when you need help. I find this to be true in my experience. I really hate it when people I have worked with in the past only call when they need something and never make the effort to just be good friends. Unfortunately, it’s very rare that I ever get a call from a friend who just wants to find out how I’m doing and how they can help me in whatever I’m pursuing at the moment. So give it a shot and stand out from the crowd. It can only help your chances of success in your business pursuits. At the very least you’ll create some good friendships.