Entrepreneurs and Venture Capitalists

Guy Kawasaki follows up with Top Ten Lies of Entrepreneurs. He had some problems he says to narrow down these lies to ten. I find these three very interesting:

  • “Our projections are conservative.” An entrepreneur’s projections are never conservative. If they were, they would be $0.
  • “No one is doing what we’re doing.” This is a bummer of a lie because there are only two logical conclusions. First, no one else is doing this because there is no market for it. Second, the entrepreneur is so clueless that he can’t even use Google to figure out he has competition.
  • “No one can do what we’re doing.” If there’s anything worse than the lack of a market and cluelessness, it’s arrogance.
  • “All we have to do is get 1% of the market.” No venture capitalist is interested in a company that is looking to get 1% or so of a market.

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