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How much value is placed on your past success?

In regards to fundraising how much emphasis is placed on history? And if an individual has had any success as an entrepreneur, what are the key highlights that investors look for, aside from the obvious? And are failures worth even mentioning?

Cheers!

6 Replies

Bill Duncan
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Bill Duncan Entrepreneur
Customer Sales,Industrial Engineering,Packaging,Logistics&Supply Chain
Hello William,I do not place much emphasis on history except for the mistakes that Napolean, Hitler, and now President Putin have made.Do not take on too many fronts at the same time.
Failures are to be expected but you learn from them.
Gaston Gorosterrazu
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Gaston Gorosterrazu Entrepreneur
Web Architect - CTO at Aptugo
Well, to be fair... both Napoleon and Hitler were great entrepreneurs with an awful biz plan. :-)

Bad jokes aside: The weight on history is another measurement to assess your potentiality to take your company to the required level. If you don't have any experience in your market (and your market requires it), well.. in that case lack of history might be a determining factor. But if you show Knowledge + Passion, then you can take that drawback to a minimum level.

Cheers and good luck!
David Crooke
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David Crooke Entrepreneur
Serial entrepreneur and CTO
VCs don't have the domain knowledge in house to truly understand and evaluate an idea. As such, anyone who has successfully founded and exited a startup in the past, especially as CEO, can raise money for almost anything. The presumption is that they know what they are doing.
Gaston Gorosterrazu
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0
Gaston Gorosterrazu Entrepreneur
Web Architect - CTO at Aptugo
David, that is probably the most wise comment I've read in a long time. I agree with you, it is really hard to see a good / useful / worth project coming out of a VC, as they usually fail to see it as the way they work forces you to be a good salesman of your own image. Checking stats on how many VC backed companies actually end up profitable is a good indicator there's something wrong with their screening process.
William Wallace Mead
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William Wallace Mead Entrepreneur
Venatus Academia (The Game Arts Academy)
Presumption... Hehe. Didn't miss that.

Gaston, care toelaborateon your comment about VC performancehistory? Ifinditbafflingthat thefailurerate is so high, yet the money still pours in.Similarto how motionpicturesmake and lose money on thegrandestscale.
David Crooke
0
0
David Crooke Entrepreneur
Serial entrepreneur and CTO
The rule of thumb I knew used to be this:

100 deals looked at
10 funded
3 miserable failures
3 barely break even
3 decent
1 hit
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