Ideas on paper

Thoughts by José Luis Agell

Getting to know Mark Suster

I had the chance to attend Mark Suster‘s lecture yesterday at Stanford. Mark has been a successful serial entrepreneur and now he’s on the investor side.

I loved his talk. I found it very encouraging. He went through a list of advices mentioning clear and practical examples in each case.

Here you’ll find the podcast (thanks Ecorner!) and below you’ll find my notes on some of the main topics.

GETTING STARTED

  • You don’t have to be a genius but you need to get started.
  • Being an entrepreneur is not sexy. It’s actually awful!  lots of responsibility, lots of hours,…
  • You need to be passionate about it.
  • You need to do research. Silicon Valley is lazy. They say you don’t have to do market research but you do!
  • Get a prototype built and show it.
THE TEAM
  • Assemble a diverse team. Get outside your box. People tend to get along well with people like them. Get out!
  • Huge premium for those colleagues who are taking the first leap.
  • Make sure technology is part of your DNA.
  • Investors want you and your team, the business idea comes later.
RAISING CAPITAL
  • Raise capital, but not too much. You’ll have time to become fat once you have product/market fit clear.
  • If possible, avoid the 3 Fs. Your business is likely going to fail and you don’t want to have business issues with your acquaintances..
  • Angels or VCs? Raise VC money when you ready to get on a rocket ship. Think that being funded by a VCs is like getting married.
  • How do you access investors? Via other Entrepreneurs
  • You need an anchor investor: invite him to be an advisor. If you show results, normally everyone follows.

Thanks Mark for the great advices!

2 responses to “Getting to know Mark Suster

  1. Javier Rincón October 22, 2010 at 6:14 am

    What a great chance a great professional. I got to know about Mark through his blog and I also regularly follow This Week In Venture Capital, which he hosts. Always great content and very insightful. Thanks for the notes on this!

  2. Javier Rincón October 22, 2010 at 6:14 am

    What a great chance to meet a great professional. I got to know about Mark through his blog and I also regularly follow This Week In Venture Capital, which he hosts. Always great content and very insightful. Thanks for the notes on this!

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