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Torenberg, E. 2020 What is Venture Capital? & How it helps Job Seekers

https://breakingintostartups.com/125-erik-torenberg-what-is-venture-capital-how-it-helps-job-seekers/

Notes (Founder market fit, failure, personal brand, team, "just do it" mindset)

  • start working at vc to get exposed to many startups
  • if you want jobs at a startup you can do it over a vc
  • if you found and know a vc it might help you to convince to invest
  • founder market fit —> very important, you need to understand what are founding
  • you can't look at a person separate from the idea
  • dealing with failure: was not taking off "enough"
  • as young entrepreneur you are scared to fail but you get a good network and learn all the skills, also being a part of a startup and not a founder you learn a lot
  • organizing your own events: loves to bring people together, 1. deep scale / expertise, 2. build your own network through own events —> help others, connect to others
  • being the "go to person" —> Personal brand (it was his passion)
  • how to build it and why is it important? —> be known for sth or be known for nothing, —> have something to offer, connect people is a skill and his passion, he does not know to build something but that's his way to build value
  • biggest decision when you're young: who to spend your time with & Where do you live
  • recruiting / hiring a good team / how to break into startups/ what are the qualities:
    • look at the actions someone did —> Are these people "doers" / side projects etc. "bias for action"
    • understand the challenges the startup is challenging (research!) / get customers for the startup —> the founder needs to see that you are eager
  • do something that can be shown to others and prepare yourself if you talk to someone
  • VCs are looking for people who have connections to founders and the startup network
  • it also helps if you have worked in a startup before
  • find the right community, people who are eager to found or have knowledge
  • top 3 books recommendation: 7 habits of highly effective people,
  • be enough for yourself, be in present, be happy, have a good community, make contribution
  • 3 Tips: Just do it (not just build it up in your mind), focus on a niche, persue what you are interested in
  • Daily routines: write a gratitude journal

© Chair for Strategy and Organization, Technical University of Munich

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