Reflections on Board Members By Some Great Ones


This post is by Brad Feld from Feld Thoughts


Click here to view on the original site: Original Post




I spent the past few days in Tokyo at the Kauffman Fellows Annual Summit. Over the past five years, there has been a large increase globally in the number of venture capitalists and people interested in becoming VCs. As a result, an organization like Kauffman Fellows is more important than ever as it helps build an incredible community of the next generation of VCs to learn from each other.

In the mid-1990s, I learned how to be a board member by sitting on a lot of boards, learning from other experienced board members, and making a lot of mistakes. I still make a lot of mistakes (that’s that nature of venture capital, and of life in general), but I like to believe that I’m a much more effective board member than I was 25 years ago. That said, I still have my bad days and walk out of a board

Continue reading “Reflections on Board Members By Some Great Ones”

How To Get A Job In Venture Capital


This post is by Brad Feld from Feld Thoughts


Click here to view on the original site: Original Post




My partner Seth Levine has written several posts over the years on the topic of how to get a job in venture capital.

His 2019 post, titled creatively How To Get A Job In Venture Capital is excellent. Things have changed in the last decade since his 2008 post titled How to get a job in venture capital (revisited), which was an update from his 2005 post titled How to become a venture capitalist. All three posts are worth reading.

Following is a teaser for each of the key points Seth makes.

  • Take the long view. Despite the relative increase in the number of venture firms, there still aren’t all that many jobs in venture.
  • Get involved in your community. Venture and entrepreneurship aren’t spectator sports and are best experienced from within.
  • Get involved in companies. There are lots of great ways to help out companies directly. 

Seth Levine’s Designing the Ideal Board Meeting Blog Series


This post is by Brad Feld from Feld Thoughts


Click here to view on the original site: Original Post




My partner Seth Levine is writing a blog series on Designing the Ideal Board Meeting.

Seth and I have each attended over 27,367 board meetings. Ok, I don’t know the actual number, but it’s a lot. We’ve both been on good boards and bad boards. Boards that have helped companies and boards that have sunk companies. Boards that know how to resolve conflict and boards that have multiple passive-aggressive actors engaged in a complex dance that serves no one, especially the company.

So, I’m totally digging Seth’s new series. Not surprisingly, since Seth and I have been working together for over 17 years, there’s a lot that is the same as my board approach. But, I’m also learning something from each post which I plan to incorporate into my board world going forward.

The first four posts are up. In order:

  1. Designing the Ideal Board Meeting
  2. Designing the Ideal Board

    Continue reading “Seth Levine’s Designing the Ideal Board Meeting Blog Series”

You May Have Too Many VCs On Your Board


This post is by seth levine from VC Adventure


Click here to view on the original site: Original Post




Those that have followed my blog for any period of time know that I love the data that my friends at Correlation Ventures gather and write about (for example the data behind my post Venture Outcomes are Even More Skewed Than You Think or IPO or M&A). Today they released some data on the correlation between the number of venture board members around the boardroom table and the success of venture funded businesses which I thought was pretty illuminating and which confirmed a long held suspicion of mine.

I haven’t counted exactly but I’ve been on dozens and dozens of venture funded boards in the almost 20 years I’ve been a venture investor. Some have been fantastic. Some have been dysfunctional. Most have been somewhere in between. I’ve had the experience of being the sole venture board member. I’ve also been on boards as large as 15 or

Continue reading “You May Have Too Many VCs On Your Board”

The Changing Venture Market In 3 Images


This post is by seth levine from VC Adventure


Click here to view on the original site: Original Post




Want to visualize how the venture funding market is changing? Look no further than these 3 slides (from a presentation put together by our friends at Greenspring). I don’t think much commentary is needed here.

  • Average round size at Series A is increasing dramatically.
  • Venture is being increasingly driven by large rounds (especially at the later stages – this is significantly skewing the overall funding numbers that are being reported).
  • IPOs are the new Unicorns (they’re becoming more scarce than their $1BN valued cousins)

What does it mean to be an “executive”?


This post is by seth levine from VC Adventure


Click here to view on the original site: Original Post




At Foundry we have active and lively CEO and Portfolio Executives email lists. They are among the things that I love the most about the community we’re creating at Foundry – watching execs across the portfolio (who refer to each other as “Foundry cousins”) help each other out and share ideas. It’s an important reminder that great companies are created not by solo, heroic efforts, but by the collective force of entire communities.

Recently a CEO sent around the following question: what defines an executive (who reports to a CEO)? — especially as different from “a regular manager”. I thought a number of the responses were great and wanted to share them here so they can benefit companies beyond the Foundry portfolio.

What Defines an executive? Especially as different from a manager

The biggest difference is the mental frame you start with when approaching a problem. 

A manager starts

Continue reading “What does it mean to be an “executive”?”

Friday Fun #4 – Behind the Scenes On Our Latest Video – Bored Meeting


This post is by seth levine from VC Adventure


Click here to view on the original site: Original Post




I hope you saw that Foundry released our latest video last week – Bored Meeting. At the time I’m writing this more than 100,000 of you have, which is pretty exciting. Bored Meeting follows on the heels of two prior efforts – I’m a VC and Worst of Times. I’m fortunate to have a really talented partner in Jason Mendelson who writes, performs all the instrumentation for, mixes, edits and produces these songs and videos. It’s a labor of love for all of us – an attempt to bring a little personality and humor to a business that often lacks both.

The process is a blast – from recording the song in Jason’s basement studio to working on costumes to the actual day (or in one case days) of filming. As I hope you can tell from the videos we have a fun time shooting them – often needing to

Continue reading “Friday Fun #4 – Behind the Scenes On Our Latest Video – Bored Meeting”

Focusing on Actions, not Results


This post is by seth levine from VC Adventure


Click here to view on the original site: Original Post




I just had a conversation with an entrepreneur I’ve worked with for decades that resulted in an insight that I thought was worth sharing more broadly. We were talking about managing teams and in this case the challenge of getting some of his exec team focused on broader goals and the end result we’re driving for in the upcoming year (a big growth year for this business). The solution we outlined was to focus on actions (concrete, clear, definable) vs. the more vague set of results that we had been trying to align everyone around. We’re still driving to the same outcomes but the leap was too large in a couple of cases for people to get their hands around. By focusing on actions we moved a strategic conversation to a tactical one that each exec could internalize and the end of year results became the outcome not the driver,

Continue reading “Focusing on Actions, not Results”

BREAK THE INTERNET TO SAVE NET NEUTRALITY


This post is by seth levine from VC Adventure


Click here to view on the original site: Original Post




We have just hours. The FCC is about to vote to end net neutrality—breaking the fundamental principle of the open Internet—and only an avalanche of calls to Congress can stop it. So we decided to help “Break the Internet” on our sites. You can also support on TwitterTumblrYoutube or in whatever wild creative way you can to get your audience to contact Congress. That’s how we win. Are you in?

More info here.

 

How Startups Actually Grow


This post is by seth levine from VC Adventure


Click here to view on the original site: Original Post




We’ve all seen the growth curve on the left – all successful startups strive for a version of one. But in reality, the notion of a smooth growth curve actually masks how most successful companies truly grow.

Our experience at Foundry suggests that if you blow up the growth curve you’ll find that companies grow linearly and that what creates the log curve is a series of small changes that either change the slope of the growth (it’s still linear, but now growing faster) or that “jump” the growth curve up (growing at the same rate but now from a high base). Examples of things that fit in the first category are changes in sales efficiency, successfully adding to the sales organization, establishing channel relationships that add predictable revenue, etc. Typically these are small and change the slope of growth only a bit at a time. But over time they

Continue reading “How Startups Actually Grow”

Vote FOR a renewable energy future by voting AGAINST the Boulder muni


This post is by seth levine from VC Adventure


Click here to view on the original site: Original Post




I’m really frustrated with the way many from the the pro-muni block in Boulder have misappropriated the idea that being for municipalizing our local utility infrastructure (condemning the Xcel’s local grid and forming a city-owned and operated electric utility) is the only way to move Boulder towards the goal of 100% renewable energy. They’re trying to co-opt the idea that a vote against muni is a vote for fossil fuels and a vote for it is a vote for renewables. I couldn’t disagree with this line of thinking more. In fact I think the opposite is true – a vote to continue the Boulder muni effort is the wrong way to go about pursuing the goal of lessening our dependence on non-renewable energy source.

This weekend I wrote a long note to a local friend who came out in support of municipalization. I thought it was worth sharing to a broader

Continue reading “Vote FOR a renewable energy future by voting AGAINST the Boulder muni”

Is your sales problem really a product problem?


This post is by seth levine from VC Adventure


Click here to view on the original site: Original Post




Not suprisingly when companies are having issues in sales they look to their sales or and sales leadership for the source of the problem. In the cliche example (but one which happens all the time) sales will loop in marketing (“we’re not getting enough leads”, “the leads aren’t high quality enough”).

But typically product is left out of this mix.

To be clear, there are plenty of sales related issues that are directly attributable to poor sales processes, bad training of sales resources, poor time management, etc. But often overlooked is the role product plays in sales challenges. I’m not writing this to offer a ready made excuse for sales teams that aren’t executing but as a reminder to executive teams that when you’re struggling to understand sales challenges be sure to look at closely at product. I’d suggest looking both at how existing customers are actually using your product

Continue reading “Is your sales problem really a product problem?”

The Feature -> Product -> Company Continuum


This post is by seth levine from VC Adventure


Click here to view on the original site: Original Post




I’ve been thinking about the continuum between a feature, product and company a lot recently. Specifically the challenge that companies have as they move across this continuum, how rare that last category really is, and the combination of product idea and market potential that is required for companies to actually make it to Company status.

Most companies begin life somewhere between a feature and a product. They’re started by an entrepreneur trying to solve some problem that s/he finds compelling and generally that problem is a feature of some larger set of problems. At this stage most entrepreneurs are given the advice to “focus”. It’s good advice (and advice I give all the time) but does sometimes perpetuate the feature-ness of the business – you spend your time and effort narrowly on a small number of related features and while you may have some inclination for how these stitch together

Continue reading “The Feature -> Product -> Company Continuum”

The Feature -> Product -> Company Continuum


This post is by from VC Adventure


Click here to view on the original site: Original Post




I’ve been thinking about the continuum between a feature, product and company a lot recently. Specifically the challenge that companies have as they move across this continuum, how rare that last category really is, and the combination of product idea and market potential that is required for companies to actually make it to Company status.

Most companies begin life somewhere between a feature and a product. They’re started by an entrepreneur trying to solve some problem that s/he finds compelling and generally that problem is a feature of some larger set of problems. At this stage most entrepreneurs are given the advice to “focus”. It’s good advice (and advice I give all the time) but does sometimes perpetuate the feature-ness of the business – you spend your time and effort narrowly on a small number of related features and while you may have some inclination for how these stitch together

Continue reading “The Feature -> Product -> Company Continuum”