Several months ago a friend of mine connected me with one of the partners at a $4 Billion venture capital firm based in Silicon Valley.
It’s one of the best-known and highest growth VC firms in Menlo Park. I was privileged to discuss my business model with her and get some feedback.
Now, there are only 2 words to say when responding to feedback: “Thank you”. Never try to respond with ‘but’ and ‘however’. Just ‘thank you’. It’s a sign of gratitude and the more grateful you are the more the person feels accepted and will like you.
One thing to know about VC firms is that their performance depends on the success of their portfolio companies.
The first hires of a start-up are typically the head of sales, engineering, and marketing. The last person they bring into their staff pool is the experienced finance professional. And this typically only happens when the VC presses the founder to get their financial and operational plan in order so they can raise their next round of funding.
But this firm, as the lady explained to me, has gone one step further. They have a full time staff member who matches the founder of a company with an executive coach, because they believe in the power of coaching to drive massive action.
Ultimately, though, it’s up to the start-up to create change and become successful.
One simple way to change is to put yourself in an environment where you can change. An environment filled with openness, practicality, and trust.
But beware; it’s a minority who changes.
Will you follow the highly successful start-up community and look for coaching to propel your business to scale?
Whatever stage you’re at in business, you need to be all over the numbers. In posts like this, we aim to offer bite-size food for thought – but in a few hundred words, we can only do so much.
If you’re ready to build your financial muscle, how about a FREE copy of James Vanreusel’s (highly-acclaimed) book for CEOs?
The #1 Key to Creating a Thriving Business takes you through the challenges of growing and scaling your company, from first to last. And you can request your copy here – no hidden fees, no strings.