Your 15 Minutes of Fame
I just ran across Jeff Bussgang’s post titled, VCs Blink. Jeff’s post discusses how Malcolm Gladwell’s book, Blink, relates to the world of venture capital. Specifically, Jeff talks about how VCs blink all the time – they frequently make intuitive and fast decisions about what investments to make and what teams to back. From his post:
“Simply put, VCs blink all the time. Ask your VC friends how long it takes them to decide whether a deal will be a good one in a first meeting or call. Typical answer: 15 minutes. How long does it take them to decide whether an interview candidate is an â€œAâ€ player worthy of an executive position in their portfolio companies? 15 minutes. Everything else is just to fill the time.”
In my experience, this is a completely accurate observation. As an entrepreneur presenting to a VC, Jeff’s wisdom and advice may be among the most important things to consider when preparing for and delivering your pitch for money. Definitely required reading for anyone promoting an idea for investment. Jeff’s post is almost a year old, but it’s content has no expiration date. Check it out.