Green Shoots, Sales Matter, Know your numbers and Oxen with Dysentery

Portfolio update:

Well, some green shoots.? I am seeing a few decent financings coming together including some "pre-emptive" deals.? It is progress, after two years of pain.? Remember that much of this is a war of attrition?so part of the game is survival.? I didn't make any new investments in the last month although I have verbally agreed?to 1 in the ag space and did follow on two "bridge" rounds.? Just stick with it.? It's a lot less dismal than it was.? This all builds character!

Entrepreneurs Corner:? ?Sales matters, knowing the numbers and getting the first customer

I will be as frank as I can.? Sales oriented CEO's tend to succeed at many multiples of those who don't focus on sales.? ?CEO's who focus investors energy on trends, numbers and data also tend to succeed at a higher rate.? It doesn't mean the company is better but it is the way of the world. I do know a lot of great founders who are more technical or product oriented or simply don't like sales or numbers.? ?Certain of those are charismatic enough or have enough other data to get over the hump.? But to be honest many fail and do so early- not making it out of a pre-seed or seed stage. BTW, sales orientation isn't always great. Those CEO's also tend to "oversell" and usually pay for it in later rounds. But at least they get there.

Ironically, they don't even teach a class on sales in Business School.? Its considered?some non-intellectual profession for vagrants who are anti-social.? I am proud to say that despite being an engineer and deep on technology, I love sales and consider myself a sales person.? I love being the one to get the first customer and closing deals.? ?Its a rare skill. I know many startups with great products or technology who wouldn't get a single customer without a good sales oriented person.??

Knowing the numbers

How quickly can you recall and share your bookings and revenue data? If its not immediate, you don't know it well enough.? Can you immediately explain trends in your business?? Have you mastered the financial fundamentals? This is your basic homework. I say this to everyone but VC has changed- there is no more product/technical review.? Its just financial. If you can't explain it expect to get stuck.? But you need to force yourself to be interested and even proud of this.? ?Many entrepreneurs want to have their head buried in the science or product.? Don't do that force yourself to be a founder and CEO and know your numbers cold.?

First Customer

I will state it plainly.? You aren't an entrepreneur if you can't make a sale.? And the most important is your first customer and that is your responsibility to deliver it for your?team.? Or first set of customers.? ?If you can't sell you should either pack it in or get someone who can to help you.? ?But don't underestimate how hard the first sale can be.? How do you find an advocate who will pay you?? How do you present what you are doing in such a compelling way that someone will take a chance on you before you have it finished?? It takes courage and conviction and a lot of persistence.? Remember your customers are human like you.? When they see you will do what it takes, they will respect that.? But you need to feel it versus taking their business for granted.? Show people you are going to do a good job and earn their business and they will take a chance on you.?

Parents Corner:? ?Common ground as they grow

I now have a teenager.? He is completely different than me and frankly the world has changed so much that my taste seems ancient.? ?But recently I went to the "Garfield Movie" with my teenager and my 10 year old and we all loved it.? That is one of the first times we had something we both loved and in largely the same way.? ? ?More recently I am trying to find common ground through some video games or other interests.? But I want it to be sincere and I dont like minecraft or roblox.? ?However, the other day, I learned that the game "Oregon Trail" was remade and on nintendo.? ?I loved that game growing up, playing it on an Apple II or commodore 64.? My son also wanted to play it as he learned it involved Oxen with dysentery (see simpsons reference).

Recently, we went to Casa Bonita. Those of you that are South Park fans know what I am talking about. My older son is somehow familiar with it even though we don't let him watch... but I can see when he is older, there is more common ground to come. Some things can wait.