Comments on: How a Tourist Can Help you with Your Startup http://www.bothsidesofthetable.com/2010/07/12/how-a-tourist-can-help-you-with-your-startup/ Entrepreneur turned VC Mon, 14 Nov 2011 23:37:00 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Len_Williams http://www.bothsidesofthetable.com/2010/07/12/how-a-tourist-can-help-you-with-your-startup/comment-page-1/#comment-14859 Len_Williams Wed, 28 Jul 2010 20:06:52 +0000 http://www.bothsidesofthetable.com/?p=2953#comment-14859 Building a strong relationship with a VC is not an easy thing to do and you are right, these tourists, however long they may stay with you, can help a lot if you know how to deal with them. Probably the most important thing, besides the ability to build rapport, is your <a href="http://www.articlesbase.com/entrepreneurship-articles/how-to-build-a-relationship-with-a-venture-capitalist-2910521.html" rel="nofollow">business transparency</a>, that will allow them to contribute to solving the real problems as they occur. You should also state from the very beginning the riskier aspects of your business plan, as weak points are expected to exist and VCs can help you fortify them. Building a strong relationship with a VC is not an easy thing to do and you are right, these tourists, however long they may stay with you, can help a lot if you know how to deal with them. Probably the most important thing, besides the ability to build rapport, is your business transparency, that will allow them to contribute to solving the real problems as they occur. You should also state from the very beginning the riskier aspects of your business plan, as weak points are expected to exist and VCs can help you fortify them.

]]> By: labanner http://www.bothsidesofthetable.com/2010/07/12/how-a-tourist-can-help-you-with-your-startup/comment-page-1/#comment-14451 labanner Wed, 21 Jul 2010 00:32:49 +0000 http://www.bothsidesofthetable.com/?p=2953#comment-14451 Mark, great post. It reminds me of the following blog entry which reinforces the fact that consultants are generally not an appropriate fit for startups, for a variety of reasons. Big companies are in a much better position to "have the time told to them," whereas startups cannot afford the opportunity costs and/or money involved in working with consultants:<br><a href="http://www.infochachkie.com/beware-the-consultant/" rel="nofollow">http://www.infochachkie.com/beware-the-consultant/</a> Mark, great post. It reminds me of the following blog entry which reinforces the fact that consultants are generally not an appropriate fit for startups, for a variety of reasons. Big companies are in a much better position to “have the time told to them,” whereas startups cannot afford the opportunity costs and/or money involved in working with consultants:
http://www.infochachkie.com/beware-the-consultant/

]]> By: Guest http://www.bothsidesofthetable.com/2010/07/12/how-a-tourist-can-help-you-with-your-startup/comment-page-1/#comment-13992 Guest Thu, 15 Jul 2010 21:01:26 +0000 http://www.bothsidesofthetable.com/?p=2953#comment-13992 In a company I used work, an executive referred few consultants as "Seagulls".<br>They fly across the country every Monday, Shit all over the place during the week and fly back on Friday.<br>This has stuck with me since I heard it the first time.<br>Just ranting....back to what ever I need to do to get my first customer :-( In a company I used work, an executive referred few consultants as “Seagulls”.
They fly across the country every Monday, Shit all over the place during the week and fly back on Friday.
This has stuck with me since I heard it the first time.
Just ranting….back to what ever I need to do to get my first customer :-(

]]> By: Justin Herrick http://www.bothsidesofthetable.com/2010/07/12/how-a-tourist-can-help-you-with-your-startup/comment-page-1/#comment-13942 Justin Herrick Thu, 15 Jul 2010 00:44:28 +0000 http://www.bothsidesofthetable.com/?p=2953#comment-13942 Powerful insights in this article mark. It makes complete sense, and it echos the sentiment of many other articles about best business practices. You need that outside view from time to time, if for nothing else then to prevent you from eating your own dog food. (I think the saying goes like that)<br><br>I've thought of having the VC in that particular role, I've yet to deal with VCs personally, but as I imagine it now I would be in the former category that you mentioned of entrepreneurs. You feel this need to impress those on the board over bringing anything up that could cause dissent or disruption, perhaps it depends more on the relationships between the VCs and the founders, or perhaps its due to the fact that you know you have their money. Either way I agree with your point, and that discussion about improving the product and the business should be key. Powerful insights in this article mark. It makes complete sense, and it echos the sentiment of many other articles about best business practices. You need that outside view from time to time, if for nothing else then to prevent you from eating your own dog food. (I think the saying goes like that)

I've thought of having the VC in that particular role, I've yet to deal with VCs personally, but as I imagine it now I would be in the former category that you mentioned of entrepreneurs. You feel this need to impress those on the board over bringing anything up that could cause dissent or disruption, perhaps it depends more on the relationships between the VCs and the founders, or perhaps its due to the fact that you know you have their money. Either way I agree with your point, and that discussion about improving the product and the business should be key.

]]> By: JT Keller http://www.bothsidesofthetable.com/2010/07/12/how-a-tourist-can-help-you-with-your-startup/comment-page-1/#comment-13923 JT Keller Wed, 14 Jul 2010 08:55:21 +0000 http://www.bothsidesofthetable.com/?p=2953#comment-13923 Don't forget to explore insights from those that may not be familiar with your industry. Sometimes they'll offer you the biggest pearls of wisdom. Don't forget to explore insights from those that may not be familiar with your industry. Sometimes they'll offer you the biggest pearls of wisdom.

]]> By: JT Keller http://www.bothsidesofthetable.com/2010/07/12/how-a-tourist-can-help-you-with-your-startup/comment-page-1/#comment-13922 JT Keller Wed, 14 Jul 2010 08:53:05 +0000 http://www.bothsidesofthetable.com/?p=2953#comment-13922 Speaking from a consultant and entrepreneur's perspective I can say that everything in this post rings true. It's important to explore numerous possibilities and often those possibilities can and are uncovered by outsiders. Use your resources wisely, listen to the good, the bad, and the ugly and remember that at the end of the day it's up to you and your team to decide what to act on. Speaking from a consultant and entrepreneur's perspective I can say that everything in this post rings true. It's important to explore numerous possibilities and often those possibilities can and are uncovered by outsiders. Use your resources wisely, listen to the good, the bad, and the ugly and remember that at the end of the day it's up to you and your team to decide what to act on.

]]> By: Saadiq Rodgers-King http://www.bothsidesofthetable.com/2010/07/12/how-a-tourist-can-help-you-with-your-startup/comment-page-1/#comment-13909 Saadiq Rodgers-King Wed, 14 Jul 2010 07:30:22 +0000 http://www.bothsidesofthetable.com/?p=2953#comment-13909 Certainly. You should pick board members who are trusted partners and any gilding of the truth will certainly come out eventually. I was just trying to put my finger on some of the incentives that make this difficult.. Certainly. You should pick board members who are trusted partners and any gilding of the truth will certainly come out eventually. I was just trying to put my finger on some of the incentives that make this difficult..

]]> By: Michael_RightSite http://www.bothsidesofthetable.com/2010/07/12/how-a-tourist-can-help-you-with-your-startup/comment-page-1/#comment-13907 Michael_RightSite Wed, 14 Jul 2010 06:36:19 +0000 http://www.bothsidesofthetable.com/?p=2953#comment-13907 I haven't worked as a VC, but when I was a regional manager travelling to local offices across China I sometimes fulfilled the "tourist" role as well. I think the key for such occasional visitors to be effective contributors is to be careful that you are a thoughtful tourist rather than a "pigeon." Pigeons, of course, swoop in once in a while, splatter sh*t all over the place and then fly off again. I haven't worked as a VC, but when I was a regional manager travelling to local offices across China I sometimes fulfilled the “tourist” role as well. I think the key for such occasional visitors to be effective contributors is to be careful that you are a thoughtful tourist rather than a “pigeon.” Pigeons, of course, swoop in once in a while, splatter sh*t all over the place and then fly off again.

]]> By: David Semeria http://www.bothsidesofthetable.com/2010/07/12/how-a-tourist-can-help-you-with-your-startup/comment-page-1/#comment-13904 David Semeria Wed, 14 Jul 2010 04:37:13 +0000 http://www.bothsidesofthetable.com/?p=2953#comment-13904 Never! I've been a bit busy on a frivolous but very fun side project. I read all your posts, but I just end up nodding in agreement, which doesn't make for headline-grabbing comments....<br><br>That's why I wrote my brown-nose script above.<br><br>Keep it up!<br><br>D. Never! I've been a bit busy on a frivolous but very fun side project. I read all your posts, but I just end up nodding in agreement, which doesn't make for headline-grabbing comments….

That's why I wrote my brown-nose script above.

Keep it up!

D.

]]> By: msuster http://www.bothsidesofthetable.com/2010/07/12/how-a-tourist-can-help-you-with-your-startup/comment-page-1/#comment-13902 msuster Wed, 14 Jul 2010 04:29:07 +0000 http://www.bothsidesofthetable.com/?p=2953#comment-13902 Ha! Thanks David. Hadn't see ya for a while. Thought you abandoned me ;-) Ha! Thanks David. Hadn't see ya for a while. Thought you abandoned me ;-)

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