For those of you who know me, I am a visionary. I like big risks and I’m not afraid to fail and lose everything – I’ve already been there done that. Yeah…it sucks while you’re in it, but you get right back up and start building again.
My dad always taught me to either go big or go home. We never went half ass – it was either all in or not in at all. Let me tell you, this was a great foundation for my startup life.
The same is true when it comes to VC’s. They are all in. They are taking big risks on your startup and for that, they are looking for a big win. They want deals that present an opportunity for a 10x return - minimum.
VC’s could give two shits about your little startup company that is going to own 30-50% of your small market – have some vision for crying out loud – that is if you are trying to reach VC’s.
I will also tell you from experience that it is just as hard to build a small company as it is a large one – you will never find me building something small again.
If you want a VC’s attention then go all in and build something that has the potential to scale and show a beauty of a return.
I am no VC, but I am speaking for some of my friends that tell me the horror stories. If your deal doesn’t have the potential for a 10x return then don’t waste their time.
What about you?
What are you building? Does it have the potential for a 10x return – minimum?