Capital is one production factor of three which we need to run our business. Before we can go out to do business we need to get “dressed” and we need an office (or the big dining table). We need capital.
Last week I was honored to Email-interview Seth Levine, Managing Director of Boulder Colorado Venture Capital. I was interested how people seek and select new business and support with capital to make it grow and become a success. Within a short period of time I received a lot of info – and I have to mention that I have never met him personally which makes the interview so appreaciable.
What I have learned from the interview is what I will share with you today. Let me put it in 1 sentence:
1: Have a niche market 2: have a system how you always proceed and 3: do your homework (means: generate a ton of information about the new company, the product, the customers and the people you´re going to work with: meet, meet and read.)
This is the basics you have to meet for passing the test to get or to give capital for a new business. VC companies always look for new business to support and to build. And as always: intelligence meets.
On each market people find each other and prefer to work together. Once you have found your partners who you trust, you are more willing to share your capital fraction with them. This is a part of their N°2 basics when a certin business needs a lot more capital than you´re willing to invest.
3: One secret advice for you – it is particularly important to find a few reference points for deals that didn´t go well. You really learn about someones true character in those situations.
In my next BLog-post I am going to explain the three basics more detailed.
BE A DECISION MAKER. BECOME OUTSTANDING.
rita jaskolla – Leadership Architect –