Some thoughts on: So you want to do startups, eh?
And for those who don’t know Tara, well she is pretty outspoken, and she often says out loud what other say tend to only share behind closed doors. I admire that, right or wrong, she fundamentally believes in what she is doing, and Tara is part of the few people open to sharing her experiences and thoughts on what she is living through as a tech entrepreneur. Read more: http://nextmontreal.com/so-you-want-to-do-startups-eh/#ixzz1PpddQX00
Thanks Tara! Of course its hard, its’ real hard. Try raising a venture capital fund! No difference. You need strong relationships, trust, deep commitment, an amazing team, a vision you can communicate, and timing in the market is key. And yes, location matters!
Of course, as an investor, I’d love to invest in more amazing entrepreneurs, yes I meet great startups I don’t invest in. I’d love to be that enabler, be the one who believed in an Entrepreneur before it was all too obvious. But my reality is such that I only have 24 hours in a day, our team can only manage a limited number of investments, and our pool of capital is limited. So, what we do is try to identify the most amazing people we truly feel comfortable working with, complimentary to our other investments so we can leverage relationships and industry insights, in sectors we not only believe in but that we actually understand. And that, that’s just the starting point! So the end result is likely lots of frustration from entrepreneurs who think venture capital is just a pile of money, or worst, a bank!
I think Entrepreneurs should consider that many VCs look at an investment opportunity the same way a Startup looks at hiring an A team: You can’t hire or afford everybody that apply. Identifying the right competency, ambition and attitude is an art. Chemistry is everything. And bringing in the right person, at the right price, at the right time is no easy feat! And you often end up hire the passive job-seeker because thats the person that has all the above attributes and with who you took the time to build the strongest relationship with!
Yes! You got to be crazy to keep doing this! But I love it!
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Tags: nextMontreal, startups, Tara Hunt