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From the Northeastern Section of the ACS, focusing on career management and development
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11/17/12
Entrepreneurs. 2. Valuable Insights for going out on your own with Venture Capitalists
Filed under: Interviewing, Position Searching, Alternate Career Paths
Posted by: site admin @ 9:00 am

Recently I attended an informative entrepreneur symposium in
fields where venture capital plays the key role.  While I note ACS
is urging members to recognize this path to employment, some
features of what is common knowledge in other high tech fields
will help the chemical enterprise adapt and reform in an evolving
market.

A.  Your elevator pitch (as different from your elevator speech for
networking interviews) needs to be “top notch” and professional.

B.  Venture capital has a distinct regional dimension:  East coast vs
west coast VCs
East:  in finance, terms to protect against downside
           non compete agreements provide a hang-up to future innovation
           elegance counts:  how smart you are, your pedigree

West:  in finance, terms to adequately participate in upside
            non compete agreements not enforceable
            black cat, white cat:  no matter, cats eat mice

C.  Finance and Economics.  Looking at the big picture, VCs are being
squeezed (going out of business) in the low interest rate environment.
See also:
             Amazon services levels the playing field
             pros and cons
             Serious suggestions

D.  FACTORS FOR SUCCESS
     age-ism is active;  but likeability factor is stronger
     look for project managers who have failed and learned from failure
     Know there are trends in entrep terms:  investor friendly—
entrepreneur friendly
     solving hard problems with technology and have customers willing
to pay now and in future
     scaling is a dominant factor
     think about an exit strategy:  acquisition, IPO
     top 15% of deals pays for everything

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