Ahh Saturday mornings...a chance to mull over notes and insights gathered from the week. Here's my top 5 takeaways from the Toronto Venture Group seminar I attended last week.
Useful useful...
1. VCs want big, bold, ambitious companies that can return 10x the investment. VCs fund ideas in massive, rapidly growing markets. They need companies with the potential to be category leaders.
2. Today, your team is critically important - do you have a management team with proven experience, leaders in their field, and who understand revenue, channels, and alliances?
3. Remember, venture capital is expensive money. If you can bootstrap to build your value, that should be your first option.
4. You can't be in this just to make money - you REALLY need to love what you're doing. Pause and consider the monumental task of building a company.
5. In retail, it's location, location, location. In business building, it's network, network, network. You need to be committed to expanding and strengthening your network each and every day, not just when you need it.
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