HOW TO: Think Like a Venture Capitalist
Today, there is accelerated movement in the world of new companies. In order to think like a venture capitalist about these emerging opportunities, follow the tips below!
Read everything (or at least something!).
There are so many incredible newsletters about tech that you can sign up for based on your interests. A great place to start is simply by exploring sites like TechCrunch to learn about emerging technologies and industries. From there, it becomes easier to develop a sense of the current landscape.
Pick a favorite start up or two to be able to discuss.
Find a company that you are passionate about and have reasons why you believes these specific companies will succeed. Is it their business model? Is it their product? Is it something that seems needed in the world? Pay attention to how they have grown, and what has either worked or not worked for them.
Talk to people.
There is so much to learn from your peers and mentors about what they see as new and exciting trends. They may have suggestions on how to enter a field, or could even provide great insight into specific companies. Networking is also a good way to get in touch with people who have similar interests and can help you find areas that you are passionate about. Don’t be afraid to cold email!
Be bold in your decisions and have opinions about markets.
A lot of times, the investors and entrepreneurs who succeed are the ones that seem to see into the future. This means that they take smart risks and make educated claims about the direction they think a certain industry might head in based on current trends. Even if you feel like you have little experience, it’s important to have an opinion -- just make sure to back it up with due diligence!
Always ask questions.
Many people in the industry excel at what they do because they know how to ask important questions. Use your curiosity and creativity to dig deeper into problems and explore possible solutions. Questions can be the most powerful and efficient way to learn, so don’t be afraid to say what’s on your mind.