"So we believe that the key to successful relationships between founders and their VCs is one simple rule: No Surprises.” via Satya Patel
Surprise! That’s the worst feeling. No one wants to get married and wake up the next day with a massive surprise on their hands. That sort of scenario has happened before—think Jacob & Leah in Genesis. It’s the kind of stuff romantic comedies are made of.
But in business, it’s something that has to be clarified and intentionally ironed out before the fact. The best investors will tell you this. Be honest. Be open. And no surprises.
The above quote comes from growing and well-known startup investors in Silicon Valley. They continue by saying,"And the application of that rule starts well before a formal partnership is formed between VCs and a founding team.”
No one wants to start a business and then immediately be surprised by their partners, co-founder, vendors, or customers. You want to know what you’re getting yourself into.
Doing business in Africa will always bring surprises. The key is to head those off at the pass and call them out as soon as possible. And ideally before they ever occur.
(photo via hugo cardoso)
Posted on July 27, 2017
by Tim & Tommy filed under