Mari

Paul: What VCs Look For.

In Business, Create, Networking, Tech on 06/19/2012 at 3:04 pm

I met Paul when we spoke at an entrepreneurship dinner last fall. He’s a partner at Lightbank (which invested in some local coupon company and I guess did okay with that.) When I met him, we joked that we were the Asian invasion. I also told him that I never have and didn’t plan on going after any external funding. He said genuinely, “Okay, but if you ever think differently, you know you can reach out.” So I do, regularly – but just to talk shop and get his feedback.

The last time I lunched with Paul, he said he hears hundreds of pitches on a monthly basis. I asked him how he even starts to figure out what would be a good investment.

“When I’m looking at a business idea, I check to see if it’s relevant, non-obvious, and robust. That’s it.”

As I’m (finally, sort of, timidly) contemplating talking to investors about expanding our current offer, I’m for SURE making sure that it’s

relevant
non-obvious
robust.

Easy enough. Time to get back to work.

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