This morning I read a good post via VentureFizz. It was written by David Beisel of Venrock and the subject was “The Problem with Talking to VCs”; http://venturefizz.com/blog/problem-talking-vcs.
My response, return-posted, follows:
A really good summary. At the end of the day though, great entrepreneurs focused on compelling opportunities drive the process and everything around it. Those great founders recognize that they — & only they — control company formation & development. Yet they have a great opportunity — before fundraising — to refine ideas & game planning by collaborating and tapping into the perspectives & learnings of as many smart people as possible. They also realize they have a unique chance to begin an informal process of exploring partnership fit & chemistry with whom they might work — through discussion as well as doing diligence “outside the lines” w/r/t the folks they get to know. Those great entrepreneurs move forward with whom they want, as they want, on their timetable. They raise capital when they want to. But only if they have the confidence to say no as appropriate.