A great conversation between Fred Destin and Aarish Shah on the intricacies of the VC-Founder relationship. I've lived the balancing act and it's a tricky one. Great advice. Wanted especially to give a shoutout to Fred Destin because it is unusual to seriously engage the question of how investors can add value to entrepreneurs. (There is no end to the resources on how entrepreneurs can get into the minds of investors.) Entrepreneurs and investors need each other. Thanks, Fred, for this contribution to the conversation.
I decided to "go deep" in my latest conversation with Aarish Shah on his podcast Nothing Ventured on the VC - Founder relationship and the "craft of venture". We primarily dive into the fractured bonds that connect us to our founders and what to do about it. I've tried to distill some of what I've learned over 25 years. Facts: - Systemically, there is a significant trust deficit between founders and VCs - Advice addressed "at" people will rarely be followed. - Founders often view board meetings as a chore. - Many founders prefer "benign" boards that are easy to deal with as a result. This is fixable. - Trust is the foundation upon which we build. Create and protect trust. - Leave your shit at the door - anxiety, partnership pressure, desire to be "value add", need to be seen as smart etc. - Be clear about which hat you are wearing when: accountability partner, thinking buddy, advisor, transaction expert etc. We mesh it up all the time. - Move the needle, don't generate busy work. Pick your contributions or interventions with intent. - Ask yourself the right questions about the outcomes: did the founders feel more energised? How good was the quality of the conversation? Did we actually make decisions, change our perspectives, change the game? Or were we just trains crossing in the night? We then spend a fair bit of time going into what I consider to be the "craft of venture". Hope you enjoy ! YouTube: https://lnkd.in/djAFtsKC Spotify: https://lnkd.in/dXNrcXSd Apple: https://lnkd.in/dUvGAFxB