1
The Pitch
2
Venture Evolved on WBEZ: The Chicago Venture Market
3
How to Lose Credibility in your VC Pitch
4
Do Not Take this Software Era for Granted (Pt. 3)
5
Do Not Take This Software Era for Granted (Pt.2)
6
Do Not Take this Software Era for Granted (Pt. 1)
7
You Might Owe Your Job to a Veteran

The Pitch

Yesterday, I had the chance to participate on a podcast called The Pitch. It was started by a serial entrepreneur and angel investor Sheel Mohnot that I know from my investment in FeeFighters. The podcast features entrepreneurs pitching their seed companies and investors reacting to the investment. Yesterday was only the second episode, and the podcast is number 8 in iTunes in the investment category. Tune in!

Pitch 2: Flair – w/Nick Moran, Jason Heltzer & Charlie O’Donnell

UPDATE: The Pitch won Product Hunt that day, and rocketed to the #1 business podcast, woohoo. It has since come down, but a week later is at #13, ahead of HBR, Motley Fool, GaryVee, Mad Money and many others…DESPITE me being on the podcast. Way to go Sheel!

 

Venture Evolved on WBEZ: The Chicago Venture Market

I was recently interviewed by Niala Boodhoo on the Tech Shift, a radio segment of the Afternoon Shift program produced by Chicago’s NPR station, WBEZ. It was a lot of fun to meet Niala and Melba Lara in person after hearing their voices for so many years.

We discussed the state of venture capital in Chicago and Illinois among other topics. You can listen here.

How to Lose Credibility in your VC Pitch

I estimate that I’ve sat through 4,000 startup pitches over the years.

The truth about VC investing is that it is as much about selection as it is about elimination. A huge percentage of a VC’s time is with companies that do not turn into investments. So how do you become more efficient? By eliminating deals faster and spending more time filling the funnel and with companies that turn into deals.

So it will not come as a surprise that many VCs during a pitch look for reasons to kill a deal, whether consciously or not. As an entrepreneur, if your deal is going to get turned down, you want it to be on the merits of your company. Yeah, it might sting a little that your market is too small, but you have to respect an investor if they are forthright and turn you down for a legit business reason.

What you want to avoid, however, is being turned down because you lack credibility if indeed you do have credibility. So I thought it might be helpful to compose a list of great ways to lose credibility and to screw up your VC pitch in an effort to help you avoid such a fate:

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Do Not Take this Software Era for Granted (Pt. 3)

This is the third (and last) post in a series. Consider reading the first and second posts.

Before there was the Internet, there were bulletin board systems (BBSes). Like the Internet, the BBS world had an underbelly. There was a hierarchy of people in the dark corners, a social order that I found fascinating. Up until now, we’ve been talking about the small time software pirates (users) and system operators (distributors). In this post, we ascend up the hierarchy, examining  the following roles in the ecosystem which were really sketchy, but critical to the functioning of the software piracy underground.

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Do Not Take This Software Era for Granted (Pt.2)

This is part two of a series. Read the first post here.

In the late 1980s and early 1990s, there was a predecessor to the Internet called bulletin board systems (BBSes). Enthusiasts used modems to call other computers that hosted BBSes. Those that knew how to navigate it and who were willing to break the law could download practically any piece of software for free. Here’s how it worked.

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Do Not Take this Software Era for Granted (Pt. 1)

We live in an amazing era of software. We walk around with powerful networked computers in our pockets/purses where we can wirelessly download millions of software titles, most for free, in under a minute. While most people can appreciate how insanely cool this is, I think there is an important secondary effect. An aspiring software engineer or product manager can experiment and experience basically an unlimited range of existing software to find inspiration and to lean what’s convention and what products are paving new territory. That’s a really powerful dynamic, and I believe will give rise to the greatest generation of engineers and product mangers…all who will grow up with an addiction to downloading apps on their mobile devices and fiddling with little limitation.

Take advantage of this opportunity to experiment freely. Don’t take it for granted. You see, a lot of senior product managers these days grew up in an era where software experimentation was really costly. You had to pay big bucks for each software title and you had to physically go to a store to get them. I know, I know, the horror of going to a store. But that was the only way software was distributed then. And when you don’t drive and you don’t have any money, exposure to a range of software at a formative age was prohibitive.

Except if you knew a couple of important tricks and you were willing to break the rules.

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You Might Owe Your Job to a Veteran

I had the privilege of attending a launch lunch for the Bunker Incubator earlier this week in Chicago, thanks to my friend and US Airforce vet Todd Olhms. The Bunker is an accelerator for veteran-owned businesses that has started in Chicago but has quickly spread to seven cities. Among its many purposes is to create jobs for our veterans.

It occurred to me yesterday that aside from being thankful to our veterans, those currently serving in the armed forces and their families for what they do to protect our country, I am also thankful for another reason. A US Army veteran was the father of the modern venture capital industry. In a sense, I owe my job to an veteran.

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Copyright © 2014 Jason Heltzer