The Power Of Honesty In An Entrepreneur – VC Relationship
Rajat Bhargava and I have been working together since 1994. We’ve been involved in creating seven companies together (the most recent ones are MobileDay and Yesware) and, while most have
Rajat Bhargava and I have been working together since 1994. We’ve been involved in creating seven companies together (the most recent ones are MobileDay and Yesware) and, while most have
This week I had two meetings with CEOs of companies we’ve recently invested in where the question of “what is an ideal board meeting” came up. I’m writing an entire book on it called Startup Boards: Reinventing the Board of Directors to Better Support the Entrepreneur so it’s easy for me to define my ideal board meeting at this point since my head is pretty deep into it intellectually. One of the things I always suggest to CEOs is that they be an outside director for one company that is not their own. I don’t care how big or small the company is, whether or not I have an involvement in the company, or if the CEO knows the entrepreneurs involved. I’m much more interested in the CEO having the experience of being a board member for someone else’s company.
I continually refer people to the post I Don’t Hate Marketing which is a great example of a bunch of chocolaty goodness all rolled into one little post. Now, my friends at Haiku Deck have made it slick and pretty! Don’t let your marketing suck. Set your story free with Haiku Deck.
If you are in Boulder on August 25th, join me at the Fox Theatre at 8:30pm to see my partners Ryan and Jason debut their band’s album Off The Hook. I’ve long followed their musical exploits through their former band Soul Patch – Legitimate Front is their latest collaboration. Off The Hook has a modern but retro-inspired sound with musical DNA from the 1970’s. I’ve heard a few of the soon-to-be released tracks, and I really like them. You will too, if you liked the 70’s music scene – their original music celebrates everything from 70’s hard rock to R&B to funk.
I spent most of the day yesterday at TechStars Boulder. Demo Day is a week away and I did my annual “talk about how to finance your company” thing which included meeting with each company and giving them advice on where they were in the process. As I walked to dinner, I felt incredibly energized – once again there is a great set of companies coming out of the program and it’s awesome to reflect on the progress that they’ve made in 90 days.
The title of this post “Work diligently, work intelligently, work patiently and persistently” is a powerful line from S.N. Goenka that is part of magnificent blog post by Ben Casnocha titled Reflections and Impressions from a 10-Day Meditation Course. On July 18th, Ben wrote a post titled Something I Think I Could Fail At: 10 Day Silent Meditation Program , promptly went to Northern California Vipassana Meditation Center, and went off the grid for ten days. He resurfaced today. His post about his experience is awesome – go read it now.
On August 9th, TechStars in Boulder will wrap up with their annual Demo Day investment event. If you’re an active investor and are interested in attending, send me an email and I’ll get you an invitation. It’s always amazing to witness how the teams transform in three short months and this program has been no different. This year, we have everything from internet-of-things companies to travel, enterprise software to consumer devices, and platforms to crowdsource plays. There’s a strong showing out of Boulder this year and its yet another reason why my partners and I at Foundry Group continues to support the program.
My shift from manager hours to maker hours is officially over. I’ve learned a lot the past two months about how I work and the challenges of trying to both shift to maker hours as well as be effective in a blended manager / maker world. I started out in June with a hard shift to maker hours. I only scheduled calls between 1pm and 4pm – the rest of my time was unscheduled. I was able to maintain this rhythm for about 30 days before my scheduled time expanded to 5pm, then 6pm, then noon. Ultimately the backlog of “other stuff” started to creep in and it was hard to ignore it.
I’m not a huge sports fan – in my house I’m the sports widow during football season since Amy is a total football fanatic (although she’s pretty down on the new Broncos quarterback.) So – I sit downstairs with her while she watches sports and I bang away on my computer. We are watching the Olympics today. I always get sucked into the Olympics especially individual sports like swimming, tennis, and track and field. As I was watching the heats for the 400 IM and pondering Phelps and Lochte I suddenly realized how inspiring the Olympics are to me.
Let’s end Friday on a high note. The recipient of our first Random Act of Kindness in support of my marathons is now cancer free! If you go out this weekend, do a random act of kindness. Buy the meal for a young couple in the same restaurant you are in. Tip 50% instead of whatever you normally tip. Do something unexpected for someone you don’t know.