Inspired by conversations with friends new to venture capital...over the years I’ve received excellent advice on how to hone my skills as an investor without a long operating career.
Here's what I learned so far 👇
Here's what I learned so far 👇
1/ Develop a personal strategy based on what you do better than anyone else. For example, @turnernovak is the best meme-maker, communicating where he sees consumer trends going. @mercebent is a pro at finding markets/ themes others are not looking and she has unique expertise in.
2/ Find and build a small, close tribe of fellow investors (these could be same stage, earlier, or later than you - ideally you have a spectrum). As an example, @shawnxu, @delian and @kevinleeme (back when he was a VC) are all masters community builders. 👯
3/ Shadow others with lots of experience to hone your style and judgment and decide what elements you want to adopt (based on your personal strategy). Special thanks to @conniechan @andrewchen @annimaniac @m2jr @acvox and others for patiently teaching me.
4/ Understand what is an “insert your firm name” (in my case @a16z) investment. Different firms have diff investing styles and types of preferred risks. For example, some teams are OK with a pre-launch product in a domain area the founders and the firm know well, others are not.
5/ Manage your time. Distinguish b/n vanity tasks vs real work. It's easy to do activities (happy hours, “networking”...) that fill up your 🗓️ and *seem* helpful only to find out months later there's nothing to show for. Your time should reflect your strategy (see #1).
6/ Thank you to all my mentors and friends in the industry who have generously shared their wisdom and learnings over the years.
To all the VCs on twitter...any other tips and insights to help new investors?
To all the VCs on twitter...any other tips and insights to help new investors?
Oops I tagged the wrong Delian...@zebulgar 🤦♀️
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