Talk to investors, even if you’re not looking for money: GGV Capital’s Jenny Lee answers your questionsJune 2, 2016 by Claire Petersen Jenny is a superstar investor. The first woman to break the top 10 in the Forbes Midas List, she specialises in working with disruptive companies who are challenging traditional business models.
She had a lot of advice to share during her talk today, but the RISE startups still had a few more burning questions to put to her. We also asked her what entrepreneur has most inspired her.
Tidy Homz ask… What are the most important things you look for in an early-stage startup?
Primarily the market that they’re targeting; the team composition, as well as their business model. They’re all important.
Floship ask… Is fundraising simply a necessary evil? Do you see any trends or methodology in fundraising that will allow founders to spend less of their time on fundraising activities and planning?
I think that fundraising is a very important process, and part of the learning experience for entrepreneurs, for CEOs, is trying to shape the business and their business model.
So spending time with the right partners; the right investors, through Q&A sessions, allow entrepreneurs to refine their business models.
You have to take a positive approach and spend time with quality investors who can help you. It’s not just about capital and financing. Having the chance to interact and have questions fleshed out are the most positive aspects of the fundraising process.
Even if you don’t need capital, spend some talking to investors. That’s a great position to be in. You’re not asking for capital – you’re asking for advice.
Brin ask… What are the things that entrepreneurs fail to do after they pitch?
It’s important to summarise the stage that you’re at, and what you’re asking for. And follow up. Have your meeting and then follow up.
PCKart.in ask… Where do you see the future of personal computers? Will desktop PCs and laptops become more customisable in the near-future?
We would all love to do away with the personal computer, not have to carry laptops around with us, and be able to do all our computing on a mobile device. My view though is that the laptop is here to stay.
For a lot of harder computing like editing, graphics, processing – it’s just easier to on desktop.
So mobile may not grow in terms of increased devices being used, but I think it’s going to be an interesting and necessary part of the computing ecosystem.
As a startup, if your business is about internet, you need to think about mobile internet. Because the real growth, the real interaction, is going to come from the mobile device. The personal computer is a necessary platform, but it will not be your engagement platform.
CRON Systems ask… What would be the hottest applications and tech trends GGV is looking out for?
We look at tech trends but we also look at consumer behaviour. How do they consume products and services? Something we’re looking at now is the globalisation and the segmentation of commerce.
The second area is about leveraging mobile internet technology to integrate services both online and offline. When you think about Uber for transportation, Airbnb for accommodation, and you can find similar examples in the education, healthcare, agriculture and finance spaces.
The third area is where we see technology and product integration, or technology-computing convergence across products. This would mean robotics, auto-driving cars, smart devices, smart home appliances and the likes.
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