A pig and a chicken are walking down a road. The chicken looks at the pig and says, “Hey, why don’t we open a restaurant?” The pig looks back at the chicken and says, “Good idea, what do you want to call it?” The chicken thinks about it and says, “Why don’t we call it ‘Ham and Eggs’?” “I don’t think so,” says the pig, “I’d be committed, but you’d only be involved.” 1
Moral of the story to know well your position in the project and avoid becoming a ‘rooster’ by offering harmful feedback and opinions and wasting everyones time and energy.
TED talk about how ordinary people write the news before any other multi-million dollar corporation is able to. Social networks are changing the way we live, think and share information and Clay Shirky explains that exceptionally.
In my oppinion the correct title is ‘How cellphones, Twitter, Facebook are making history’ as the revolution of the information created by individuals and spread (very fast) using social networks and mobile phones has already begun.
Venture capitalists, in their need to be the first at investing in a new promising project, need to base their decisions a lot on intuition when they get pitched or get a recommendation from other people in the industry. Sometimes they need to demonstrate that you are the right team to invest into to their partners from the VC fund and they need to see you credible as well. Either way make your pitch clear and your arguments valid.
2. Be a pleasant person to work with
You will have to demonstrate this in the early stages of the negotiation, before the investment gets in. Avoid being hard to find, provide the information that is requested from you in a timely manner and at all costs don’t think of criticizing or complaining around your potential investors as nobody likes whiners.
3. There is no point 3, really
Those advices were given to me by an experienced and successful venture capitalist that I met a couple of weeks ago. I tend to agree that the team and its attitude towards the business they are building is more important than technology, imaginary market-share, potential billions of dollars written in a PowerPoint slide, etc.
Investments go most of the time into the teams and not into the projects.