Just because you’ve been in talks doesn’t mean the deal is done. Entrepreneurs need to remain diligent about timelines in order to ensure that the deals they’ve set in motion actually come to fruition. If you’re negotiating a term sheet, building a partnership or on the verge of an acquisition, get the papers signed. Legendary GRP VC investor Mark Suster has seen his fair share of successful deals, and he writes, “don’t pop the champagne until the ink is dry on the contract and the money is in the bank.” …
In the words of legendary investor Mark Suster, “Entrepreneurs don’t noodle, they do.” While it’s important to be analytical in your decision making, it’s also important to act when opportunities arise. Yesterday over drinks with some investors and entrepreneurs, I marveled at the difference between the life of a startup founder and the life of an investor. Founders manage multiple staff and stakeholders with heavy emphasis on operational issues. Meanwhile, investors manage multiple portfolio companies across a number of industries. The common trait amongst both is decisiveness.
Suster’s recent blog post speaks to the value of being able to make a quick decision. For investors, not only are most investment pitches met with the answer “no”, but investors recognize that some of their portfolio companies will not offer the anticipated returns. The ability to be decisive while also factoring in a margin of error is exactly what keeps both worlds running smoothly …
