7 things I learned about venture capital while interning at a VC firm

The idea behind venture capitalis really quite simple: Pour money into companies to help them grow.The nature of the industry may be straightforward, but it is marked by competitiveness, risky bets, and high turnover. A lot is up in the air.After interningat a VC firm, I've gained enlightening experience that hashelped reveal the thought process behindthese life-changing investments.I still subscribe to the idea that the best people and companies will get themoney they need.However, I think that learning a fewconcepts will help youbetter understand the process of raising money, and perhaps giveyou a leg up.Here are seven insights I picked up behind the scenes that I will be sure to consider before building my next company:1. People winSpeculating on ideas is really hard. Why' Because they are fluid and incessantly seem to change (pivot). That is why investors often invest in the people before the idea. They know that, in the long run, the best people will build the best businesses, not the other way around. If you want to raise money, start by defining yourself as an entrepreneur and figure out your most valuable qualities. 2. Be directYou'd be surprised by the number of entrepreneurs whostruggle to present their brilliant ideas concisely and effectively. Forget the fancy keynotes and distracting animations. You should be able to deliver your pitch so that potential investors can make a decision based onfacts and intuition, not fluff. 3. Make it easyMake it really simplefor VC firms to understand you as a company, and, even more than that, the ecosystem you belong toas a whole. Be transparent with all your information.You want the firm to be able toperform due diligence andmake the best decision quickly. The more you hide, the more questions will arise. See the rest of the story at Business Insider
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