5 lessons I learnt while working with Neal Dempsey of Silicon Valley VC firm, Bay Partners. Written by Harry Marshall, English startup villain. Adapted from http://www.harrymarshall.me/one-year-on-how-my-time-with-neal-dempsey-of-silicon-valley-venture-capital-firm-bay-partners-has-impacted-my-career-as-an-entrepreneur/

1. Use www.shrtct.com to hash it out!
Cut clutter, tease ideas, fix problems.
5 things I learnt
during a 3 month fellowship
at a top Silicon Valley
VC Firm

2. Use www.shrtct.com to hash it out!
Cut clutter, tease ideas, fix problems.
1. You don’t always have to be
passionate about your idea.
In the companies I visited, the most successful people were
passionate about processes:
• Growing their user base
• Writing amazing code
• Hiring brilliant people
• Selling more than last month
The idea was just the context that, in almost every company I saw,
had changed several times since day 1.

3. Use www.shrtct.com to hash it out!
Cut clutter, tease ideas, fix problems.
2. You’re not always the best
person for the job. Knowing this is
an incredible strength.
A VC’s/ person’s most valuable asset is often their network*.
Whenever you can, call in the expert.
Better decisions will be made
and better results achieved.
*Small network? I’ve found that most people will answer you if you’re looking for help.
Sending honest emails enabled me to speak with the CEO of Triumph motorcycles, the
Director of Mini Cooper, and the head of BBC online in the same week.

4. Use www.shrtct.com to hash it out!
Cut clutter, tease ideas, fix problems.
3. No matter what stage you’re at,
setup a board or “brain trust”.
Most companies face very similar growing pains.
That’s why having a board of experienced advisors,
or investors, who’ve “seen it all before”,
is a GREAT way to increase your chances of success.
The early you put one in place, the better.
If you’re super early stage, create a “brain trust” of
experienced friends and family.

5. Use www.shrtct.com to hash it out!
Cut clutter, tease ideas, fix problems.
4. Every company hits the rocks at
some stage. Seriously.
You think it won’t happen to you but, chances are, it will.
Knowing this helped me feel like “part of the club” when my first
company hit its first serious obstacle.
Stick it out, divert resources to projects that work and away from ones that
don’t, and appreciate the fact you’re learning valuable lessons.
It’s not easy, but you’re in great company.

6. Use www.shrtct.com to hash it out!
Cut clutter, tease ideas, fix problems.
5. Rule number 1 for pitching:
be understood.
Though most of the pitches I heard were excellent,
a few (and many since) were disjointed, jerky and fragmented,
and I had no idea what they were on about.
I subsequently couldn’t consider their proposals.
When pitching your company or idea to anyone,
make sure they’re able to follow.

7. Use www.shrtct.com to hash it out!
Cut clutter, tease ideas, fix problems.
6. A cheeky extra: Venture Capital
is a wonderful thing.
Obvious right?
I’ve met lots of people who think VCs are sharks,
especially outside the US.
But they’re wrong. None of the companies I met would have gone anywhere
without the help of the VCs who saw their potential,
funded them, guided them and pushed them to succeed*.
*Like any profession, there are people who do a great job, and people who have no idea.
It’s the entrepreneur’s job to select the former.

8. Use www.shrtct.com to hash it out!
Cut clutter, tease ideas, fix problems.
By Harry Marshall
@harmarz
www.harrymarshall.me
Harry works on various startups, including
Shrtct, which just released its MVP.
“We built Shrtct while pivoting another startup. We needed a way to evaluate all
of the ideas on the table and hash out a course of action. Email was a real
pain, so we built a tool ourselves. We enjoyed using it so much that we gave it
a polish and released it.
Check it out at www.shrtct.com. ”