Friend of List Serve (My posts on VC Careers newsletter)
The Funny Thing That Happens Once You Land A Job In VC (Post 1 of 3)
Friend of List Serve (My posts on VC Careers newsletter)
The Funny Thing That Happens Once You Land A Job In VC (Post 1 of 3)
I know it might seem hard to believe right now, but if you keep working at it, you’re eventually going to get that venture capital job you want so badly.
And when you do, something a little strange will happen.
People will begin to look at your background in an entirely different way than they did throughout the majority of your job search process…
In a very real way, they’ll start making sense of your career path.
After I broke into the industry, I noticed so many VC job seekers would come to me saying how it made sense that I’d gotten a role in venture, given that I had investment banking experience in my background.
When this happened, I would always think to myself, “tell that to 95% of the people I spoke with during my job search process!” Because I assure you, they did not think it made sense at all that I would work in venture…
In fact, I would say most of the those people felt strongly that I was at least three jobs and a miracle away from VC… and a lot of them told me this in as many words.
The Thing Is Though, No Two Paths Into This Industry Are Alike
his is something I’ve learned from my own research as well as from conversations with hundreds of VCs over time.
So here’s what I suggest:
Stop looking for what you lack in experience, and start looking for what experience of yours you can double and triple down on.
Take it from someone who’s now been on the other side of the table during the hiring process…
It’s a process that’s very similar to investing in a startup, in that I can always find 99 reasons to kill a deal — because no ventureinvestment is perfect.
Likewise, you can always find a problem or blemish on a candidate for a role… because no one is perfect.
BUT!
The founders and candidates that win out in the end are always the ones that can convince the VC they have the ability to succeed in the industry or position, regardless of their background.
So make sure you display your ambition, and confidently convey how your track record — whatever it may be — makes you the best person for the role you’re applying for.
Ultimately, this will get you further than any experience ever can.
To Blog Or Not To Blog, There Isn’t Much of a Question (Post 2 of 3)
Blog, You Fools
Every time I meet with an aspiring VC — (I know John hates that term but hey, he’s on vacation ;) — they ask about what tools and resources I used during my VC job search to build my investment thesis and perspective.
When this happens, I almost always bring up the importance of blogging, and tell them about how it helped me gain my footing in an industry that is notoriously difficult to find traction within.
Then come the eye rolls…
By my estimate, about 90% of the aspiring VCs — (did it again) — I speak with respond in that same annoyed manner, and I quickly confirm their misgivings about my advice by leveling with them and explaining that when people first suggested I blog, I had the same pangs of trepidation about how time consuming the writing would be.
Moreover, I was reluctant to think my work would go viral, and was afraid that within the monsoon of information available out there on the world-wide-web, I’d be left screaming into an empty room.
Nevertheless… I Gave It A Shot
The impetus for this to happen was there for me, as during my part-time work with Camelback Ventures I got to interact daily with first-time founders — something which gave me a glimpse into the litany of problems entrepreneurs face in the early days of building a business.
Thus, with this newfound perspective in hand, I started to write — because really, it seemed almost selfish not to.
Still, I did so tentatively, as I hadn’t yet been convinced about the benefits a blog could have on my career.
But my perspective was changed after reading from an established VC that an aspiring VC — (this is getting out of hand) — should not view their blog as a popularity contest, but should instead think of it as an extension of his or her resume.
(ie. your views and readership don’t matter, all that matters is the content)
Later in my job search process this proved true, as I began receiving compliments about my blog from those that interviewed me — many of whom had read some of my content to see if I actually had a point of view.
But Earnest, What Will I Write About?
Anything and everything you want.
Initially, I started micro-blogging by finding articles in my verticals of interest and retweeting them with a short comment.
As I gained some traction, I began writing on Medium almost every week about concepts such as fundraising advice for first-time founders and the areas I would make early stage tech investments within.
Still, everything took time, and I certainly wasn’t able to see an immediate impact on my job search from my blog posts.
However, in the background my work was slowly solidifying me as an “expert” in the world of fintech, edtech, and real estate tech — verticals I’d decided on due to my experience in those fields. And this eventually paid off.
In big ways and in small, blogging opened doors to opportunities I never would have dreamed of — like when the city of Amsterdam chose to recognize me as global tech blogger and flew me, all expenses paid, to cover their tech ecosystem.
*Note*
I’m not suggesting you’ll be strolling around the canals of Amsterdam in three months if you start blogging tomorrow — as with all things in life, there’s some luck involved as well.
What I can guarantee is that someone, somewhere, will eventually notice your work if you take the time to put your best foot forward and write about the things you’re most passionate for.
And even if you don’t get to go to Amsterdam, if you start writing that thought resume today, odds are you might catch the eye of some hiring manager looking to fill a specific role tomorrow.
Furthermore, if by reading your work that hiring manager can gain insights about what kind of perspectives you can bring to the investment team on day one… you’ll automatically make yourself stand out from the pack.
So get writing!
How To Take Control of Your VC Interviews (Post 3 of 3)
Owning Those VC Interviews
We all know VC is a tough nut to crack. There are tons of people out there, myself included, who had to search for months and months before landing any sort of role in the field — and plenty more still who look for even longer than that.
That’s why when you do have a chance to sit in front of a VC to try and convince them why you’re the best person for the job, you’d better be ready to make a good impression.
The problem is, this isn’t always easy.
You see, because VC firms are typically composed of lean teams, the individuals managing the hiring / interview processes more than likely also have day jobs that they’re either equally or more focused on.
For this reason, VC interviews are often far less structured than they are in most other industries.
Typically, most VCs will try to gleam what sort of work experience you can leverage in the investing role, what kind of varying perspectives you could bring to the investment team, and what kind of approach and process you use when trying to conduct due diligence on a potential deal — all from a quick 30-minute conversation.
But again, the problem here is that because VC interviews are so unstructured, this sort of information is often too hard to convey by doing what you’d do in most interviews.
ie.
Sharing your career path
Explaining why you’re interested and passionate about tech and venture
And/or answering whatever questions they throw at you
So what’s a VC candidate to do?
Take Control of the Interview By Nailing Down an Investment Thesis
Since you more or less know what the VC will be after when he or she sits down with you, come prepared to steer the conversation in that direction, and make sure you leave them with clear, memorable answers to three main things:
Why you’re passionate about VC investing in a specific sector
How you’ve been following that sector, and what your understanding is of the macro issues that influence it
How you’ve developed an extensive network in the sector and the value you can bring by leveraging it
Keeping the answers to these three questions in mind will ultimately make you a far more memorable candidate overall.
And since VC interviews are so unstructured, if you come prepared with succinct ways of presenting your answers to the VC, it shouldn’t be hard to dictate the direction the conversation goes.
The Best Part? Crafting An Investment Thesis Isn’t That Hard
All it really requires is that you pick an industry or sector you are excited about, and then develop a base-line presentation about that sector based on your research.
That research?
Be sure to look into:
The overarching trends shaping the industry and/or consumers’ psychology within the industry
Macro / Micro beliefs and assumptions that you’re founding your thesis on
Information to help you form the actual thesis itself
Supporting evidence and insights from charts/data that support trends you see
Startups of interest in the field that relate to thesis
Non-industry focused startups that are interesting aside from your thesis
One early startup that could be a future investment opportunity, if your thesis holds
For more guidance on how to craft a thesis, read this article here.
All that said, while it’s important you present quality opinions with genuine supporting evidence, entering any VC interview with even a little conviction around a certain industry or vertical will allow you to stand out, and ideally, have some control over the direction the conversation takes.
And that will lead to good things.