Lessons in Entrepreneurship – The VC Perspective

I was a guest on my partner Glen’s political radio program this past weekend – and you can hear the feed here (I show up at about the 12:45 minute point).  We discuss entrepreneurialism in general, and more specifically what it takes to be successful as you build your own business.

I am going to be making roughly monthly appearances on the show to help broaden Glen’s discussion about “Success” to include what we do at Meakem Becker – help fund and grow large, successful enterprises.

Here is my first crack at the Top Ten topics to discuss:

  • Do you have what it takes to be an entrepreneur?  [It not so much about risk-tolerance as it is about passion, enthusiasm, and commitment]
  • The idea (Entrepreneurial Basics Part 1) [Start with the problem, not a technology; startups that succeed generally provide solutions to real problems]
  • Building your team (Entrepreneurial Basics Part 2) [You need a balance of skill sets, but someone with real sales skills is a non-negotiable]
  • Is your market big enough? (Entrepreneurial Basics Part 3) [BILLIONS, not millions – this is the difference between a lifestyle/family business and a big enterprise]
  • Think about making money – the business economics (Entrepreneurial Basics Part 4) [Discussion of different business models/ways to build revenue]
  • Competing:  how do you differentiate? (Entrepreneurial Basics Part 5) [Discussion of the importance of differentiation; IP, innovation, etc]
  • Why you need a business plan [The business plan is more for YOU, not as much for investors; excerpts to The Pitch Deck, Executive Summary, Elevator Pitch]
  • The stages of company growth – from seed to late stage [Discussion of our lifecycle chart and indicators of stage maturity]
  • How to present to venture capitalists [How to get to us, What we need to see, How we like to see it]
  • Top Ten VC rules [This could be a lot of fun…]

Let me know if you think these are the right topics or if there are other things you want to hear Glen and I discuss; we have a blank slate.  I would also love your feedback on how I did (I know… I said, “That’s right” too much, and I could probably work harder to find my “radio voice” – it is somewhere deeper in the diaphragm…).

Blurb from Glen’s Email:

Alan Veeck, one of my partners at Meakem Becker Venture Capital, joined me on the program this past week to discuss what it takes to be a successful entrepreneur. In order to attract venture capital investments, entrepreneurs must create compelling products or services that are sold into potentially large markets. They must also be able to surround themselves with the right team of people, and be able to defend themselves against the inevitable competition. Successful entrepreneurs must also have a lot of passion and a strong belief in their abilities. For successful entrepreneurs, failure is not an option. If you have a business idea, or wish tor receive more information from Alan, contact him at AVEECK@MBVC.com or on his blog at www.pittsburghventures.com.

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