Be Honest on VC Reference Calls

This is going to be BIG.

A friend of mine running a very successful company found himself conflicted over an upcoming reference call. Reference calls to potential limited partners seemingly have no upside to founders. The same goes for VC references by other founders--which I hope founders are asking for. I've been running group reference calls around the fundraising for Brooklyn Bridge Ventures.

How to Make Better Reference Calls

Both Sides of the Table

Reference calls. Ask for at least 5 references. As your candidate for at least 5 references. Don’t worry about the fact that these are the references that the candidate has hand-picked – that’s part of the process. Call each of the 5 references looking for “glowing” feedback. You should expect to get glowing references unless the candidate has told you in advance something like, “Look, I’m listing Susan as a reference.

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How Do You Reference Check a VC?

Both Sides of the Table

How do you then reference check your VC to be sure that you’ve chosen a good firm and partner? First, I would say that most entrepreneurs do almost no reference checks or at least do them very informally. This list is the equivalent of the reference list that you’d give your VC (or any other potential employer if you’re interviewing for a job). Happy reference checking. This is part of my ongoing series on Raising Venture Capital.

Why it’s Critical That you Reference Check Your VC

Both Sides of the Table

How do you then reference check your VC to be sure that you’ve chosen a good firm and partner? Get a reference list - Most entrepreneurs do almost no reference checks or at least do them very informally. Don’t stop at the list they give you – This list is the equivalent of the reference list that you’d give your VC (or any other potential employer if you’re interviewing for a job). This can be a great source for reference checking.

Anatomy of a Reference Check

Tomasz Tunguz

Reference checks are part and parcel of the VC diligence process and most hiring processes. Types of References. I find it’s valuable to speak to references who have worked with the candidate in different roles. Reference Check Outline. At this point, I’m also looking to establish whether referencer will provide a balanced reference. Or other tips on reference checks

How Using Creative Outreach Tools and Methods are Fueling Entrepreneurial Recovery in Chicago

Source Link

Garcia added that, “Where they’re at,” refers both to method of delivery as well as to the assistance an individual business owner may need at a particular moment. Knowing which resource provider organizations or government agencies to refer them to was critical.

The Secret to Creativity Is Not What You Think

Co Starters

To reach that place of calm, go through a process that Shelley refers to as S.T.O.P. . “It’s What do you get when you cross an entrepreneur, an angel investor, and a psychologist? You get our latest guest in our Straight Talk With Starters series—Dr. Shelley Prevost of The Big Self School.

Wrap-up of the Startup Community Leaders Mission USA 2018

Startup Catalyst

They collaborate and refer to those that play their specific role. People here are incredibly willing to help, to introduce and refer. References by startups to Australian customers and competitors don’t resonate with US investors and corporates unless they know them. Startups need to refer to US customers and competitors in their pitch wherever possible.

Serving the Underserved: The Commons on Champa // Denver, Colorado

Co Starters

That way, I can refer people to the program that will best suit their particular needs.”. “If you’re starting up, start here.” . This is The Commons on Champa’s invitation to underserved leaders, entrepreneurs, and innovators in the Denver area. Awaiting the Denver starter is a sequence of programming designed to streamline the success of each entrepreneur—no matter where they come from, what resources are at their disposal, or what their abilities are. .

Tips for forming ethical business partnerships

Young Leaders of the Americas Initiative

Get references. You should consider references on behavior, performance, or work ethics. Just as you would compile references and work samples for future employees, you can consider doing your research into customer reviews, past partnerships, and business policies. Throughout your leadership journey, know that you are not alone.

Funding Friday: The $1k project

A VC: Musings of a VC in NYC

If you decide to participate, you will be asked who referred you. This is the fourth funding friday blog post in which I’ve suggested good causes to contribute to during this pandemic. March 20th – restaurant workers. March 27th – health care protective gear. April 3rd – feeding people in need. Today, I would like to highlight The 1k project.

Serving the Underserved: The Commons on Champa // Denver, Colorado

Co Starters

That way, I can refer people to the program that will best suit their particular needs.”. “If you’re starting up, start here.” . This is The Commons on Champa’s invitation to underserved leaders, entrepreneurs, and innovators in the Denver area. Awaiting the Denver starter is a sequence of programming designed to streamline the success of each entrepreneur—no matter where they come from, what resources are at their disposal, or what their abilities are. .

Serving the Underserved: The Commons on Champa // Denver, Colorado

Co Starters

That way, I can refer people to the program that will best suit their particular needs.”. “If you’re starting up, start here.” . This is The Commons on Champa’s invitation to underserved leaders, entrepreneurs, and innovators in the Denver area. Awaiting the Denver starter is a sequence of programming designed to streamline the success of each entrepreneur—no matter where they come from, what resources are at their disposal, or what their abilities are. .

How to be a responsible leader during a crisis

Young Leaders of the Americas Initiative

Refer to your values. An international crisis, like the coronavirus pandemic, introduces unprecedented challenges. In times of crisis, businesses require new approaches to leadership to address these challenges and emerge stronger. It is important to address these changes in leadership responsibly and ethically. Here are a few recommendations for leading with integrity and transparency during a crisis.

5 Qualities to Look for in a Remote Employee

Entrepreneurs' Organization

When inquiring about their experience, you should request references from previous employers. Additionally, talking to the candidates’ references will give you an idea if the person is an independent and reliable worker—both critical traits for somebody working from home. .

Addressing the Gaps: Auckland University of Technology // Auckland, New Zealand

Co Starters

The gap she is referring to is the absence of a practical, real-world entrepreneurship program beyond the basics of a college finance course and short of the demanding tech accelerators that tend to appear by the dozen in large cities. “There is a gap in Auckland that we are trying to fill.” . Sabrina Nagel is the CO.STARTERS Program Director (or “Dot Connector,” as she is reverently called by her colleagues) at Auckland University of Technology (AUT).

Kara Nortman Was Just Promoted to Co-Managing Partner at Upfront Ventures. Here’s What it All Means

Both Sides of the Table

The fact that Kara doesn’t have what my wife likes to refer jokingly as my “Y chromosome problem” is beside the fact. Today we’re announcing that my partner Kara Nortman is becoming Co-Managing Partner at Upfront Ventures and I can’t tell you how thrilled I am to welcome her to her new role.

5 Tips for Improving Your Startup Deal Flow

Onevest

Refer Deals to Others Just because you aren’t interested in a particular deal doesn’t mean it won’t be a hit with someone else. Respond Respond when others refer you deals. You might not love every one of them, but they won’t keep referring if all they get is crickets. By Tim Houghten For 1000 Angels , the private investor network that connect startups with investors, deal flow is critical.

How to Build a Successful Partnership in Work and Life

Entrepreneurs' Organization

Jamie and I adopted CliftonStrengths and refer to it often in our communication, both at home and at work. Having an external tool to refer to has also helped us reduce misunderstandings and focus on one another’s strengths and recognize when we need to step in and support one another in business and in life. Contributed by Katty Douraghy, president at Artisan Creative , a member of EO San Franciso and the MyEO Women of EO Champion. .

The Education Transformation

A VC: Musings of a VC in NYC

That may also be a useful reference, maybe at the start of the presentation. Back in March 2009, USV hosted an event called Hacking Education. It was the beginning of our effort to invest in the transformation of the education sector. A few weeks ago, USV held its annual meeting, roughly 15 years after we closed our first fund. And our partner Rebecca gave a presentation on our eduction portfolio, which is now one of the strongest parts of our entire portfolio.

This YLAI Fellow is influencing sustainable behavior in his Dominican Republic community

Young Leaders of the Americas Initiative

The ultimate goal of Green Depot is to be a global reference for industrial triple impact companies (i.e., By Jewelle Saunders. 2018 YLAI Fellow Porfirio Baez spent his free time dreaming up different ways to contribute to the preservation of the environment.

Hair On A Deal

A VC: Musings of a VC in NYC

The team will be great and reference well. In a perfect world, everything about a potential investment will be confidence inducing. The market will be huge. The technology will be well developed. The price and terms will be attractive. But the world is not perfect. There will always be things about a potential investment that create heartburn.

Engagement beats scale: Inside Morning Brew’s approach to subscriber growth

Entrepreneur's Handbook

Unsurprisingly, we’ve also seen that after a reader refers a friend, their engagement with the newsletter strengths and their lifetime with us is on average much longer than that of a reader who never refers. Our newsletter has 2.5

Deep Tech: What Is It & How It Disrupts Businesses

Feedough

Deep tech or deep technology refers to a class of startup businesses that develop new offerings based on tangible engineering innovation or scientific discoveries and advances. Technology is ever-evolving. Scientific discoveries and engineering are disrupting almost every industry we know.

The Definitive Guide to Understanding Sales Funnels (Updated for 2020)

Wesley Cherisien

Happy customers return (and refer to their friends) so be sure you make the experience unforgettable. Imagine a sales system focused on one thing: turning cold prospects into hot buyers. That is exactly what we design a sales funnel to do.

Designing Websites For Kids: Trends & Best Practices

Feedough

You can check the website of Funbrain as a reference check. Designing a website for kids is not a child’s play. We all are surrounded by a digital age and so are our kids and children whose tiny little fingers always remain glued to smartphones and tablets.

How to Choose a Side Hustle That Matches Your Personality

StartupNation

Everyone has a Myers-Briggs personality “type” that refers to your most common traits, strengths and weaknesses. Did you know that 43 percent of working Americans report having a side hustle ?

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How to Get a CISO to Buy Your Product

Dream It

As a startup, you may not have enough customer references, but referrals from peer CISOs who have signed up as design partners or completed successful PoCs are just as valuable. To keep an organization safe, a CISO depends on as many as 50 to 100 different products.

Top 5 M&A Insights from Senior Industry Leaders

Dream It

Managing Partner Steve Barsh refers to this as being a “mercenary” entrepreneur, as opposed to a “missionary.” Most founders consider two possibilities when thinking about their exit strategy: IPO or acquisition.

Why you should never have a data room — the most counter-intuitive fund-raising advice you’ll ever…

Both Sides of the Table

Your historical trading information including financials and a “customer file” which shows the history of your transactions so that investors can run “cohort” analyses Customer reference, personal references, key team members, compensation, cap table, stock option plan, etc. Reference Calls I do the exact same for reference calls. Many times I’ve been asked for the names of references only to find that they were never called or only 1–2 were called.

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Lead Edge Capital just closed on $950 million from a whopping 500 investors

TechCrunch

Yet it’s already managing $3 billion in assets through a process that founder Mitchell Green half-kiddingly refers to as “rinse and repeat.”

How to Use Reciprocal Marketing as a Growth Strategy for Your Startup

StartupNation

When you have articles that are not ranking at the top of search results because competing articles have more referring domains and backlinks pointing to them, it’s time to find yourself a network of partners.

Engaging with the startup community: in conversation with Reece Walker and William McCullough

Startup Catalyst

It’s pretty awesome to work with people who have been referred to you by word of mouth. I’m not saying that we give people better service, but you sure as hell give people the best service you can when it’s been referred to you by word of mouth. We got in touch with Reece Walker and William McCullough, two lawyers from McCullough Robertson, to chat about their journeys.

How To Pitch A Real Estate Tech VC

Dream It

The worst thing I’ve seen is founders who come in expecting hockey stick growth without any reference set for how real estate acts. Jeff Berman is General Partner at Camber Creek , one of the first venture funds dedicated to real estate technology and the built world. The team owns, operates and manages over 150 million square feet of real estate, making Camber Creek one of the biggest value-add venture partners for real estate tech startups.

WJR Business Beat with Jeff Sloan: Health Insurance Coverage Declines (Episode 126)

StartupNation

Since the beginning of the COVID-19 pandemic in the U.S. in February of this year, an estimated 12 million people have likely lost the health insurance coverage that they would otherwise receive if they were currently employed, according to the Economic Policy Institute.

If Your Customers Can Be Everywhere, Why Can’t Your Talent?

Entrepreneurs' Organization

The term 2nd City Office refers to a team in another city that mirrors the culture, setup, processes and governance of the home office. For reference, Uber now has a 1,000-member engineering team in Bangalore. Written for EO by Vikram Ahuja. Ahuja is a serial entrepreneur, co-founder at X10 and founder of Byond Travel. He is also a member of EO Bangalore.

Let’s Talk About Things That Matter

TechStars

When people tell me, “I don’t see color,” referring to the color of my skin, it makes me feel like I do not matter. We often don’t like to talk about things that make us uncomfortable. As a result, we try to change the subject and focus on the weather. The funny thing is, the weather is real, and if I tried to deny it, you would not talk to me. Let’s talk about the weather. Let’s imagine we are standing in the rain: You: “Raining hard, isn’t it? Me: “I don’t see rain.”.