What are the best ways to add value to your relationships with VC mentors?

Building fantastic relationships with our VC mentors is critical. Keep them informed about our plans and actively solicit their advice. When people provide insights, take action—it demonstrates that we respect their feedback. Let us leverage their knowledge in areas where they excel and seek assistance where necessary. Celebrate our successes together and be clear about how they might help us. Attend their events, engage with their network, and express your appreciation for their support. Consider it a long-term collaboration rather than a one-time financial transaction. By establishing trust, remaining engaged, and being thankful, we will make these relationships extremely valuable to our startup!

Even before trying to find a list of potential VC mentors, ask yourself what are you trying to accomplish? If you are currently in a non-VC role and are looking to break into VC, talk to people recently made that transition. Personally, I find university alumni to be very open and helpful. I reached out to a handful of Oxford alumni and asked for feedback. Also, reach out to your network and ask whom you should talk to and ask for warm introductions.

Before seeking a VC mentor, dive deep into their world. Know their history, skills, investments, and passions. Target a mentor aligned with your field, development phase, and ambitions, resonating with your ideals. Seek harmony in communication style, character, and time availability. Avoid mismatches – your time and theirs is precious.

To add value to relationships with VC mentors, focus on mutual learning. Share your unique insights and experiences, which might offer them a fresh perspective on the market or emerging technologies. Be proactive in seeking advice, but also offer to assist them in areas where you have expertise. Networking is key; introduce them to potential investment opportunities or other valuable contacts. Regularly update them on your progress and learnings, showing how their advice has been instrumental. Remember, the best relationships are reciprocal; strive to be as valuable to your mentors as they are to you.

Conduct thorough research before approaching a potential VC mentor. Understand their background, expertise, portfolio, and interests. Seek alignment with your industry, stage, and goals, ensuring shared vision and values. Assess compatibility, including communication style and availability. Avoid wasting time and effort by connecting with mentors who aren't a good fit for you or your venture. This initial diligence is crucial for establishing a meaningful and mutually beneficial mentorship.

Definitely be respectful of other people's time. These potential VC mentors tend to be industry veterans and usually have a very packed calendar. If they are willing to carve out 30-60min to talk to you, you should know that this is a lot of effort. Thus, always be prepared and specific about the topics and things and be on time.

A rela??o entre mentor e mentorado é positiva quando há um fit entre ambas as partes. é fundamental que o mentorado tenha uma agenda com expectativas claras do que espera do mentor baseado em um estudo prévio da carreira e do track record do profissional.

Once a potential VC mentor is identified, initiate contact with a personalized, respectful message. Clearly convey who you are, your venture, and why their mentorship is sought. Specify the type of assistance needed, whether it's advice, feedback, introductions, or referrals. Steer clear of generic or mass-email approaches; be concise, polite, and specific. Understand that immediate or positive responses may not always occur. Follow up respectfully after an appropriate duration, avoiding pushiness or annoyance. This approach enhances the likelihood of a positive and constructive mentorship engagement.

There is always something that you can be an expert in. If not, I would suggest try to develop one before reaching out to VC mentors. In the VC world, or any professional relationships, it is always ideal to have a mutually benefit relationship. Figure out what your strengths whether it is a technical domain e.g. a PhD in quantum physics, a financial expertise e.g. 20 years in financial modeling, or a deep business experience in a geography e.g. Asia, Europe, LATAM, or Africa, etc. It takes some time to build an expertise, but I assure you this will make the future VC mentor/mentee or peer VC investor relations much better.

Sharing high-quality dealflow to your VC mentors is a great way to add value to this relationship as a mentee. It can also serve as good way for the mentee to learn, as they can walk through the deal with their mentor to learn more about best practices in deal sourcing, initial DD, etc.

If you feel inclined, share the upside with your mentor. If they introduce you to a customer or investor, you can consider sharing some of the benefits with the mentor as a thank you. However, this is a delicate line. Be skeptical or mentors who promise you deals for a fee, or a percentage of the deal. On the other side, don't expect a steady stream of new introductions if you don't give back and share the upside.

Seize your moment with a VC mentor: enter prepared, agenda in hand, yet adaptable. Engage in a two-way exchange, offering your insights and assistance, enhancing the mentorship's value. Express your gratitude, follow up with a thank-you note, and encapsulate key learnings. Elevate this bond by sharing promising deal flows, an educational avenue for mastering deal sourcing and due diligence. If your mentor opens doors, consider reciprocating with shared successes. Yet, tread carefully: shun mentors who demand fees for opportunities. Remember, a fruitful mentorship thrives on mutual benefit and shared victories.

Building expertise takes time, but trust me, it pays off big time. When you approach VC mentors or fellow investors with a solid skill set, it sets the stage for a much smoother relationship. So, take your time, carve out your expertise, and watch those VC connections bloom in the future.

The last thing any mentor wants to see is that they provide a set of constructive feedback and the mentee had never acted upon or had given any thoughts on them whatsoever. Even if you decided not to follow the suggestions, it is still good to let your mentor know that you decides to do ABC because of XYZ, so that they know you value their feedback.

Building a fruitful relationship with VC mentors as a startup founder involves transparent communication and a proactive approach. Regularly update mentors on your startup's progress, seek and act on their advice, and showcase how their insights influence your decision-making. By actively involving mentors, leveraging their expertise, and demonstrating the impact of their guidance, founders can foster strong and mutually beneficial relationships, maximizing the value of mentorship.

Maximize your mentorship with VC mentors by embodying progress and responsiveness. Regularly showcase your startup's evolution, pivoting their advice into actionable steps. Celebrate achievements and openly tackle hurdles, creating a transparent narrative of your journey. Value their insights, integrating them into your decision-making. Exceed expectations - transform mentor guidance into tangible results. Cultivate a strong bond through gratitude, respect, and an eagerness for feedback. Your proactive approach will demonstrate commitment, fostering a powerful, mutually enriching mentor-mentee dynamic.

The best thing you can do (for both yourself & your mentors) while working with mentors is exceed their expectations. Dive into the insights your VC mentors share, turning their advice into actions that propel your startup forward. Paint a vivid picture of your progress, celebrating wins and addressing challenges openly. Build a genuine connection by showing gratitude, respecting their time, and welcoming feedback as a key to growth.

Demonstrate a commitment to growth by actively implementing the advice and feedback you receive from your VC mentors- put their insights into action.

Personally I am very careful on asking or giving referrals because it is often based on a certain level of trust. If you are asking for a referral, make sure you state the company, person, and reason you want to reach out to this person, and let your VC mentor decide what is the best way to do it. If you are giving a referral to your VC mentor, I usually don't connect the startup/VC directly. But rather, I'd share some high level information and ask the VC if it is okay to connect this startup or VC. Then make the connection.

Be clear on why you want the introduction, and how the introduction might benefit BOTH parties. Be specific on: - Who you want the introduction to - Why you want the introduction - What the specific value is for you - What the specific value is for the other party It's important to do your research, and not only ask for introductions and hope for the best. If you demonstrate value you'll increase your chances of getting more introductions.

Leverage your mentor's network strategically! Once you've established trust and showcased your value, seek referrals for mentorship, partnerships, or funding. Ensure the timing is right and be considerate in your approach. Clearly communicate your needs and express gratitude. Follow up afterward, keeping your mentor informed about the outcomes. This not only respects their connections but also transforms mentorship into actionable opportunities, expanding your network and horizons.

Give, give, give, ask. Aim to give more than you ask, much more. It will come back to you one way or another. And be proactive in your giving. Find ways to provide value without the other person asking and you'll create a reputation of someone who care and is helpful.

Mentorship is a two-way street. While you seek guidance and insights, also consider how you can contribute to your mentor. Share your unique perspective, insights, and experiences that might benefit her/him in return. Engaging in meaningful dialogue is often the first step towards building trust.

Proactively seeking resources, sharing learnings, and staying adaptable are key components. Express gratitude for their time and insights, participate in networking events, and actively involve mentors in your startup's journey. By showcasing your ability to absorb feedback and implement advice, founders can build trust and demonstrate the value of mentorship. Building a successful relationship with VC mentors involves a collaborative and transparent approach, ultimately contributing to the long-term success of the startup.

In nurturing VC relationships, think beyond the present. A VC who doesn't align with your current round could become a valuable mentor or the lead investor in your next venture. Your insights might steer them towards a successful investment or help avert a poor decision. Foster these relationships not just for immediate needs but as part of a broader network. Regular, in-depth conversations can lead to unexpected opportunities and insights, enriching both your entrepreneurial journey and their investment portfolio. Remember, today's casual chat could pave the way for tomorrow's pivotal collaboration.