Partnership between Venture Capitalists and Entrepreneurs
by William H. Draper and Eric Schmidt
Co-authored by one of the best known and most respected venture
capitalists, William Draper, this book is an autobiographical account
of 40 years of investing in entrepreneurs and their ideas.
stories of risky investments, cagey CEOs and rancorous board meetings
to illustrate how he evaluates innovations and their innovators. Object
lessons drawn from his involvement with Skype, OpenTable, Hotmail,
Prolacta BioScience, Baidu, Selectica and dozens of other high-tech
firms make for fascinating reading.
Draper sums up much of his
message in "The Top Ten Avoidable Mistakes of Entrepreneurs" where he
elaborates on the following preventable blunders:
- Creating overly optimistic projections about market size and customer acquisitions.
- Underestimating timelines.
- Trying to do everything yourself.
- Failing to master the elevator pitch.
- Not downsizing when necessary.
- Being inflexible.
- Not developing a clear marketing plan.
- Building a board that consists only of friends.
- Not taking action in a recession.
- Not knowing the right way to approach venture capitalists.
Anyone expecting to meet with venture capitalists now or in the future
would be well advised to read this text carefully and take its lessons
The Startup Game
wisdom may be conventional but is not always wise. They demonstrate
that good ideas - the ones that change the world - are often initially
rejected by all, save for a select group of risk takers and innovative