To say stakeholders have heard it all before is an understatement.
You won’t be first entrepreneur to make these types of predictions or to hear them, as it is second nature to experienced VC’s
Top Ten Lies of Entrepreneurs:
- Our projections are conservative
- Boeing will sign the contract next week
- Gartner says our market will be $50 billion by 2020
- Key employees will join us as soon as we get funded
- No one else is doing what we do
- Several VC’s are doing due diligence
- Patents make our business defensible
- Oracle is too slow to be a threat
- Beta sites will pay to test our software
- All we have to do is get 1% of the market
Top Ten Lies of Venture Capitalists:
- We make a quick decision
- I liked your company but my partners didn’t
- If you get a lead investor, we’ll follow
- Show us some traction and we’ll invest
- We have lots of dry powder
- We’re investing in your team
- We saw this coming, so we didn’t invest in B2B or B2C
- This is a vanilla term sheet
- We can open doors for you at major companies
- We like early stage investing
