Passion

What the greatest technology investors say about Passion

Successful Entrepreneurs have these Qualities

Mark Suster Partner Upfront Ventures and former entrepreneur

 Suster believes successful entrepreneurs have these qualities:  “1. tenacity, the most important [].  2. street smarts []” including “[] know[ing] [] how customers buy and how to excite them [], [an ability to] spot opportunities that aren’t being met and [] design products to meet these needs. []”. “3. ability to pivot []” which “[] might just be a totally different business model.[]”  “4. resiliency  []. 5. inspiration [].  6. perspiration [].  7. willingness to accept risk []. 8. attention to detail [].  9.  competitiveness []. 10. decisiveness []. 11. domain experience []. 12. integrity  []”.    Mark Suster, Entrepreneur DNA, December 15, 2009;http://www.bothsidesofthetable.com/entrepreneur-dna/ What Makes an Entrepreneur (2/11) – Street Smarts December 16, 2009

http://www.bothsidesofthetable.com/2009/12/16/what-makes-an-entrepreneur-210-street-smarts/

What Makes an Entrepreneur (3/11) – Ability to Pivot December 17, 2009

http://www.bothsidesofthetable.com/2009/12/17/what-makes-an-entrepreneur-310-ability-to-pivot/

Mike Maples Jr.: What I Look For

Mike Maples Jr. Founding Partner Floodgate and former entrepreneur

“We just love the companies where the entrepreneurs have a really authentic, passionate understanding of the area and they want to just do something massive.

[] [The] first thing that we look for [in people] is authenticity.[] [The] term serial entrepreneur is not always a positive virtue. We like people who say to us, This is the only company I ever want to do.

The second thing that we look for is completeness in the team. Experience and completeness aren’t necessarily the same thing.  A complete team has a combination of business and technical vision and business and technical execution. If you have all four of those bases covered, the probability that you will be stopped by something where you had a blind spot goes down [].

[The] third thing that we look for is how experienced is the team. [] [Those] first two things matter to us more. Execution can be hired; vision can’t. So, it’s that authentic voice and a team that meshes well together in a special way . . . that’s the stuff you can’t hire and fix later. If you get it right when the company starts, then you have a better chance, in our view.”  Mike Maples, Seed Capital From Angel Investors: Mike Maples, Founder And Managing Partner, Floodgate, July, 2010; http://www.sramanamitra.com/2010/07/13/seed-capital-from-angel-investors-mike-maples-founder-and-managing-partner-floodgate

Harness your User's Passion

Bill Gross Founder and CEO business incubator Idealab

One of Gross’ 12 lessons from his 30 years as an entrepreneur is “[] [to] harness your users’ passion.  In the new world of media, you have to create automated ways to get your customers to get you new customers. That’s unbelievably powerful. And there are incredible capabilities available [] to help you to take advantage of that.” Bill Gross: Here Are The 12 Lessons I've Learned In My 30 Years Of Being An Entrepreneur, Bill Gross, Chime | Dec. 15, 2011; 
http://www.businessinsider.com/bill-gross-lessons-2011-12#lesson-11-harness-your-users-passion-38#ixzz1j6DiKlAr

 

Jeff Clavier: What I Look at When Investing

Jeff Clavier angel investor, Founder and Managing Partner, SoftTech VC

“I look at the three typical factors [when investing]:  the team, the product, and the market.

[] I’m going to really focus on the team. What’s their background? What have they done? What’s the dynamic between the different members, are they complementary?

[] an early-stage team is always about two or three people, and they have a lot of potential [] but they don’t have everything. [] I’m always looking at the core team as the initial asset I invest in.

[] I don’t want to have to change the founding team []. It’s either I buy them as they are or I pass on them as they are.

[] Can I see them being successful as they are without fundamental changes to the team? Otherwise, it is just too much work.

[] I want people working extremely hard while being dedicated to and passionate about their business and who have empathy. You have to walk on water to be a successful entrepreneur, so empathy is very important.

Sometimes you just feel that people are natural-born entrepreneurs because you see they have a clear vision, understand the steps, and know how to go from where they are to the next steps. [] If they can convince you as an investor, they will be able to convince employees [] to join them or future customers to use their products.” Jeff Clavier, Seed Capital From Angel Investors: Jeff Clavier, Founder And Managing Partner, SoftTech VC; July-Aug. 2010; http://www.sramanamitra.com/2010/07/28/seed-capital-from-angel-investors-jeff-clavier-founder-and-managing-partner-softtech-vc-part-1/