Investing in First-time Entrepreneurs
Serial entrepreneurs generally may be more attractive to VCs, but that doesn't mean first-timers won't get asked to dance.
Bernard Lunn chronicles the ups and downs of first-time entrepreneurdom. Here's an excerpt:
As a first-time entrepreneur, you offer investors a trade-off. You will give them less experience than they'd want, but you will provide a lot of fire-in-the-belly tenacity, grit, and hard work. It is also likely that you will have to de-risk the venture way more than you would like before getting serious money. Investors will want to back you slowly and carefully, getting to know you and your venture before writing the big checks.