By Larry Chiang
I read “Both Sides of the Table”. I watched the YC videos of Fred Wilson and David Lee speaking. Here is what they won’t tell you Re red flags
-1- First name at Startup dot com
A red flag is solo email for each founder. The red flag it signals is, “We just registered our URL”
Solution: Larry@duck9.com (my spam catch-all
Full name LarryChiang
Secret email Chiang9.
Well, at least you have a URL…
-2- Splash page
It raises a red flag if you do not have at least a splash page.
In ENGR 145, we teach that you should have 3 sites within one site under one URL. It conjures up momentum where previously there was nothing.
-3- Run, it’s a google voice number.
-4- Negative momentum.
No founder comes to the pitch without previous work. A red flag is when a VC can find zero work that you have previously done
For example, GitHub and StackOverflow. For example, a slideshare account with at least one preso that is in your name.
And I’m not talking about just a pitch deck. It’s a red flag if VCs see negative momentum.
-5- Compartmentalized failure.
Nothing says I’m a dabbler and a nibbler more than trying to compartmentalize failure. The entire site is “problems@creditcard.org or manager@complaints.com“. VCs are fine with previous failure but they do not tolerate “alligator arms”
What are alligator arms? A scardie cat non-founder who doesn’t put themselves out on-the-line and attempt to execute. Startups do not get “discovered”…, this leads to my next point
-6- Half-assed Kickstarter.
Yikes.
You know what I’m talking about
If you do not know about the Kickstarter Minimum Viable Effort, leave this blog post immediately.
-7- Red Flag: “If we don’t get funding, we can’t even execute a lunch”
-8- Red-flagged Eventbrite RSVPs.
The email address screams amateur. For example, Eventbrite has logins. It’s a clear part of your identity. Eventbrite was critical at SXSW.
Name, real last name, title, email address alias
It’s a red flag if you’re not detail oriented enough to RSVP semi correctly.
Eventbrite either makes you stand out as a findable fundable founder or makes you look like a pariah. Eventbrite is critical.
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Larry Chiang (@LarryChiang) |
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17 Red Flags That Keep You From VC Funding
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Download 9 More VC RED FLAGS by PayPal-ING me $72.72 to the above email addresses. Alternatively, tug on my coattail and send the PayPal money to my cell: 650-283-8008
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