Biz plans

Business Plans. Saw a great business plan presentation this week. Crisp, to the point, fact based, clear demonstration of the distinctive assets of the company. Little in the way of hyperbole about the market, the product architecture. I think some companies must forget that, as a vc, I’ve seen literally thousands of plans and presentations (and thousands more in my life pre-vc). My patience for fluff is gone.

Please please hone your plans and presentations. Tell us about the key people on the team and why they are winners. Tell us about the real customer and product progress you’ve made so far, not what you wish will happen. Be honest about what you don’t know — be honest about the risks and unknowns in your plan, and tell us how you will adapt if plans don’t come true. Be a skinflint in your plans and needs. Focus wins — be clear about your focus.

Now I’d love to hear from folks about how I can be a better prospective investor, from the viewpoint of a startup…