VCs need to be careful in choosing a partner character should be the first

When I had dinner with a good friend the other day, I talked about the fast-paced and growing pressures of today's social development, as well as my current job. He also believes that the current business situation is in the late stages of the economic cycle, the average level of demand for individuals is growing, and the evolving communications equipment (a "violation" of private life, such as blackberries, IM, etc.) has exacerbated the situation, and it is hard for individuals to be immune.

My friend is one of the prolific strongmen I know, and it takes another 5 days to finish the work, and he can finish it in 2 days and even get better at it. I asked him how he would extend the 24-hour day to 28 hours, and his answer was simple and surprising to me: "Life is too short to consider trivial matters." So I never waste time on that. ”

When I rethink his advice, I find that the meaningless things he says do happen every day around me. Life is no shortage of pressure, and different things and setbacks, entrepreneurs and VC is no exception. In fact, more than 50% per cent of deal ended in failure or poor earnings, with one or two failed deal behind every successful deal. This is not an entrepreneur or VC is a happy thing, each deal is always intertwined with complex interpersonal relationships, these will make people feel the pressure and pain in life gradually aggravating.

When I look back on my previous experiences, there are some main lines to follow. I've done some successful investments like FeedBurner, their management team is excellent, they have a lot of fun working with them, and there are some successful investments, but the two sides are unhappy to end up arguing; there are some failed investments such as 800.com, but their CEO Greg Drew's team is very committed, and they work with investors to find the best solutions.

How do you know in advance that your partner (VC or entrepreneur) is an easy partner or a time bomb? I have summed up 7 main points to share the feast:

1 His contact information is open, reflect quickly, whether the idea is predictable or not at all to your message no reflection (directly filtered out your message). A good CEO's contact is always open to investors, and they will provide investors with timely information, good or bad. They will also be willing to take responsibility for the decisions that fail, and can identify those who are indifferent (icebergs) in advance. The irresponsible CEO will filter out your information and follow the banker. For bad news they always turn around and notice you when they have to, and they ignore the feedback from the rest of the team, and they intimidate them: "What are you doing this for our team or something?" "Even though we know each other at this time, who is the most hypocritical and not Frank?"

2 whether they are willing to help others or they always ask for the person. High-quality CEOs know the importance of staying cordial and friendly to future success. Observe their behavior to see if they often help other companies, especially if they are not in a profit-seeking time.

3 The mentality of the company leadership: Want to develop the company or want to go. When you ask a CEO what is his motivation for starting a business or a job, his answer is "want to make more money" or "want to change the world"? This is no different from playing with fire when investors bet on an entrepreneur who wants to make money for more than 2-3 years. If the CEO's motivation is profit, they will not try to find the optimal solution or lead the team to take the initiative when the business development and plan derail. This is not to say that managers do not do their best or that they do not want to grow their businesses, but that their ability to deal with corporate crisis events is problematic.

4 whether the CEO (or VC) is trying to expand market share or to strive for private interests. If there are people who are constantly revising the terms of the agreement, or are drunk as an excuse, you should be able to foresee the trouble coming. Obviously the internal struggle will drag down the whole cooperation project, "victim" to describe their CEO and VC will not be quality partners.

5 Does the CEO or VC care about other key players in the team? Can they always be able to position themselves well? When you are in the capital, you will appreciate that. Some CEOs only take a little bit, leaving the rest to team members. There are also people who don't care what impact such things will have on the rest of the team.

6 Finally, ask yourself, do you believe in your partner? Are you tortured by your suspicions? It's easy to see your magnanimous. Will you question your behavior? Have you ever worried about what other people are doing behind your back? If you find that you or your partner are beginning to shifting responsibility, then trouble will come soon,

A good partner is worth working with, and they can take responsibility and provide value added. In the venture capital and the enterprise cooperation management, these risks will enlarge unceasingly. Quality CEOs also attract good people, whereas poor CEOs resist talent, who have a broad vision, while the latter can only see their path.

Julian Robertson, the legendary founder of Tiger Hedge funds, has a very passionate passion for business management. He often asked his subordinates, "Have you finished your management work?" He cares about almost everything from the details of their school origins to their personal lives. He also wants his team to know more about the managers of the companies they invest in.

Life is too short to waste time on those worries. So you have to choose your partner carefully. If you don't care about some of your partner's character problem and some vague past antics, be careful that you may be in a state of regret. As time goes by, you will find that you are in an environment full of pain