Despite the lowered playing field – thanks Moore’s Law, blogs, and open source hard/software – there’s still a gap between freely available tools and what industry professionals utilize. This variance – or arbitrage opportunity if you will – was the impetus behind us spending the last few months creating a Resource portal. In true lean fashion, we’re launching with some basic best practice materials in hopes of expanding and iterating based on your feedback.
But why launch with templates? Well there have been some great discussions around board packages and investor updates. As early-stage investors we too often find ourselves having to do the delicate dance of extracting data from startups without impeding their momentum. In some ways board meetings and investor updates are analogous to a pit stop in racing. Startups are moving hundreds of miles per hour, yet we (investors) ask them to stop once in awhile to refuel and discuss strategy.
While not as exciting as the actual race, entrepreneurs and investors tend to agree that these touch points are a crucial part of performing well. However, issues often arise when investors have entrepreneurs spinning their wheels doing deep dives into their businesses to unearth superfluous reports that don’t have a productive purpose and causes entrepreneurs to lose focus on what’s really important.
So we’ve pieced together some frameworks that we feel represents a nice balance of conveying meaningful information for stakeholders (investors or otherwise) while being simple enough for entrepreneurs to quickly compile. Please note that these are guides, meant to be modified, with items added/removed as needed.
Access to materials is just one side of the coin however, as nothing-quite substitutes for hands-on experience or learning from experienced people. In the past, like most VC’s, we’ve internally shared great articles to enable our portfolio to learn from others in the trenches. These articles have remained siloed, until now. That’s why in addition to best practice materials, the Resource portal also contains a Library of curated articles we think are must-reads for startups aiming to get a leg up on competitors/incumbents.
You can download these resources, along with browsing our curated library of interesting reads at http://resources.iaventures.com/. This is by and for the startup community so we’d love to hear your thoughts. Please send them to firstname.lastname@example.org or tweet @iaventures.