[Previous] [Next] - [Index] [Thread Index] - [Previous in Thread] [Next in Thread]


Subject: Re: UKNM: On the VC trail...
From: Sean Phelan
Date: Mon, 3 Apr 2000 10:22:12 +0100

><Speechradataol [dot] com> said:
>
> > ......as a
> > friend said to me tonight it's still hard raising money for an Internet
> > business unless you are the son / daughter of someone alrready in the
> > finance
> > loop !

At 11:08 am +0100 1/4/00, Ray Taylor wrote:

>VCs, incubators, and all the other sources of investment money get piles of
>proposals every day. Almost all of them (I am told) are badly presented
>non-businesses with big ideas and little substance.
>
>1. Too much emphasis on the big idea.
>
>2. Conversely, not enough time and effort is spent on basics like research
>and testing.
>3. "Entrepreneurs" ask for too much money too soon.
>
>And as to the charge of nepotism, I think that's a bit silly.

As usual, Ray is right on the mark. The only thing I would add is that
VCs are looking for (and have always looked for) evidence of a first-rate
management team that can actually implement the "idea", and can build a
real business. Many of the major VC investments that we all read about
are going to teams containing ex-McKinsey people, ex-IBMers and others
that show some evidence of knowing how to build teams, do $million deals,
handle international growth, etc.

Cheers
Sean

=============================================================
Sean Phelan seanatmultimap [dot] com http://www.multimap.com
phone (within UK): 020 7433 0460 fax (UK): 020 7681 2094
phone (Int'l): +44 20 7433 0460 fax: +44 20 7681 2094


~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
post new media vacancies for free uknm-jobsatchinwag [dot] com
*******************
sponsor the uk-netmarketing list and website, contact
salesatchinwag [dot] com for more details.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
To unsubscribe or change your list settings go to
http://www.chinwag.com/uk-netmarketing or helpatchinwag [dot] com



Replies
  Re: UKNM: On the VC trail..., Ray Taylor

[Previous] [Next] - [Index] [Thread Index] - [Next in Thread] [Previous in Thread]