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More Lies That Venture
Capitalists and
Entrepreneurs Tell One Another The top 10 lies told by entrepreneurs seeking money: Our projections are conservative. IDC, Yankee Group or other research firms say our market will be $50 billion U.S. by 2003. Big names are about to sign up with us. Key employees will join as soon as we're funded. We have ''first mover'' advantage. No one else can do what we do. Several venture firms are already interested in us. Oracle or Microsoft is too slow to be a threat. All we have to do is get one per cent of the market. We're glad the Internet bubble has burst. The top 10 lies venture capitalists tell entrepreneurs: I like your company but my partners didn't. If you find a lead investor, we'll invest in you. I'm just a phone call away whenever you need me. None of the companies in our portfolio competes with you. We don't want to run your company. Other companies in our portfolio will use your product. We didn't invest in e-commerce or B2C (business to consumer software firms). We successfully co-invest with company x all the time. We'll help you recruit managers. I look young for my age but I have lots of experience. Written by Guy Kwasaki |
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