More importantly venture capital is not for every entrepreneur A venture capitalist makes money by getting an enormous a twenty-fold return on a small fraction of the companies in their portfolio They might have 50 companies in the portfolio 3 of them will be gigantic winners and 20 will go sideways you know get their money back and then the balance will lose everything And that works fine for the VC because they've averaged the big returns and the losses out over a portfolio The entrepreneur only has one shot And because of that business model the VC is going to push you to swing hard you know try to knock the ball out of the ballpark to use a baseball metaphor And that's not for every entrepreneur It's not for every business So I think Your listeners actually have an advantage in the sense that they may be candidates for venture capital but they're more likely just fall by by muscle memory by reflex into the pattern of taking venture capital when maybe they shouldn't
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Tom Eisenmann, as a Harvard Business School professor for the past 24 years, has guided over a thousand Harvard Business students and alumni as they launch new ventures up to their success. But not every startup story is like this.
WHY STARTUPS FAIL: A New Roadmap for Entrepreneurial Success. Tom Eisenmann: amzn.to/3Dmxqkl