Guy Turner of Hyde Park Venture Partners joins Nick to cover founder profiles and the characteristics that lead to the strongest startups. We address questions including: You've observed over 50 startups, across your portfolio, and have written extensively about founder profiles. What are the two high-level categories of characteristics that you've observed? Within the inspection characteristics category... what are the three dimensions that matter most? The first two modes seem to differ primarily on the experience dimension... what are the two modes and what are their strengths and weaknesses? Mode 3 you call the exec turned founder.... and mode 4 seems to have the ingredients for big outcomes or big flameouts. Walk us through each of these and their defining characteristics. We've discussed four modes, but based on your framework there should be eight. What about the other four modes? Do you think modes 1 and 2 work better for all investors or just HPVP? Dealflow filtering and evaluation... can you use the inspection characteristics? So we've discussed the inspection characteristics... let's transition to the the second major category, the experience characteristics. Talk more about what they are and how you assess them. What are the five actions that matter most in startup teams? How do you handle a situation where the deal comes late and there's already a term sheet and you don't have time to observe these characteristics over time? What are the five styles that matter most? Self-reflection, do you and Ira and Tim look in the mirror w/ Hyde Park and consider these expectations How about for building the team at HPVP... do you apply founder assessment criteria in your hiring? Are there any soft skills or overlooked founder characteristics that you haven't written about but you look for? What's your take on the issues w/ ethics, not only amongst founders but at the investor level? Guest Links: Hyde Park Venture Partners Guy on Twitter People part 1: Successful Startup Team Modes People part 2: The Characteristics that Matter in Startup Teams To listen more, please visit http://fullratchet.net/podcast-episodes/ for all of our other episodes. Also, follow us on twitter @TheFullRatchet for updates and more information.
Quote of the Day: 'Invest in people who do what they say they are going to do and have done what they said they would do'. Guy Turner, 20VC
Guy Turner is a Partner at Hyde Park Venture Partners where he focuses on fast growing companies run by ambitious entrepreneurs with disruptive ideas. All of his incredible findings can be found through his blog at vcwithme.co. Guy joined Hyde Park Venture Partners in 2011 from Boston Consulting Group where he focused on corporate strategy across a variety of industries; he started his investing career as an Associate and then actively investing Member of Hyde Park Angels in 2009. Guy has led investments in numerous B2B software companies and is a Director at Geofeedia, InContext Solutions and Iris Mobile. Guy is also a Siebel Scholar, Kauffman Fellow and a co-inventor on two US Patents.
In Today's Episode You Will Learn:
How Guy made his move into the investing industry?
How did Guy find the transition from academia to venture?
Why is it crucial for startups to innovate, test and sell quickly?
How can a startup determine whether their project is successful or if they should pivot?
What are the three steps to the 18 month runway, all startups need?
Do investors mind providing more financially to increase the runway?
What can startups do to maximise the hype surrounding their business?
Can hype ever be detrimental to a startup?
What are Guy's preferences in terms of founders?
How can a startup know when VCs are subtly rejecting them?
Items Mentioned in Today's Show:
Guy's Fave Book: Thinking in Time
Guys Most Recent Investment: 250ok
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