Monday, November 12, 2018

If Venture Capitalists Don't Like A Founder, Is That a Deal Breaker? - - -sponsored by GreatestFounders™






I was just wondering how much does likeability play a role in which founders get funded and which don’t?


Are likeable founders more successful than non-likeable founders?  I’m not really sure. I was hoping some VCs, founders, employees and the general public would be able to answer that via a new platform.



Obviously a VC not liking a founder might include: their questionable character, bad work ethics, questionable past, an unethical moral compass, lack of signs of significant accomplishment, lack of community involvement, no financial discipline, etc. . .those are clear deal breakers.



Like I mentioned, there are many factors that play into whether people generally like you or dislike you.  In this age of growing social tensions it could be your:


 gender, religion, skin, school, background, education level, breath, personality, beauty, height, dress,  sexiness, etc. 




Regardless of VC liking you or not, VC still go through their normal checks before they do a deal or not. . .like assessing the opportunity, whether they can bring in others to plug some holes (hopefully not sexually during exploratory stages or company hours or professionally) and they might test you with a third party.

I'm simply saying being liked can help however you have to still build your business with your own conviction and love with or without a VC liking you or not..



MORE THOUGHTS


In the mean time lets look at other ways venture capitalist assess their founders. I’m sure there are lots of books and articles on this. There have being founders who just got venture capital funds on their 69th attempt. Some got it on their fifth shot. Some have gone through months of due dilligence only to get the big fate NOOOOOOO!
.

Please make sure you have time and resources to do your own homework on venture capitalist, angels, loan provider, etc because any smart person who has worked for their money or taking other peoples' money is going to do their homework on you regardless if they like you or not. .


FURTHER TIPS


  • If the VC dosn’t like you that’s their choice however if many people are concerned about that maybe you should look into it. 


  • I guess you really don’t want to strive for people to like you sometimes you do want people to dislike you because being successful unfortunately is not about being liked or popular. It’s about winning, money, results, performance, happiness

  • Try to uphold a set of values and behaviors that help maintain a good reputation.Regardless in private or public.

  • Be aware how, whom, what, where, when you communicate. I recently just saw how some professional hockey players (NHL players) got caught inside a Uber taxi ride venting negatively about their coach.


  • Be very thoughtful how you assess others. For example a person might not be dress in professional expensive attire doesn’t mean they can’t be a millionaire.

  • Be proactive about the dirt. Everyone has dirt or somethings they rather keep buried so why not find a way to address it so it never becomes a issue.

  • Keep your public profile on social media networks healthy and less professional social acts in private. Plus be wary of everything on the internet. It's really not impossible to be tracked, profiled..."hoogle's" ad reach is f#%^&*()@ huge.

  • Keep making contact with people that can get to know you and speak about your character and experience.

  • Avoid making claims you can not backup with proof. Like don’t tell a VC you can growth hack your way to millions of users when you’ve never growth-hacked

  • Realize that every interaction people have with you is a potential reference source for VCs and potential-employees. 


  • Make sure to feed your mind, soul, and body with what you’d want people to see/hear/feel about you.

  • Venture capitalist take being comfortable working along a founder's side seriously.  


  • Don't hide your previous failures or fuckups.


  • Venture capitalist are not interested in founders who think they know it all and have thought of everything however for the sake of your credibility know what you need to know.
 
  • Do they have sales and marketing skills.

  • Does the founder have relationships with others that have gone through the ups and down. 



 [In addition to that final note, the content sponsor GreatestFounders.com, wants to invite founders, VC, and their employees to beta test and review their services. Get a beta invite.]

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