So important in the venture world...
We had a meeting with some prominent folks today and presented our current line of thinking on our fund and how we want to operate.
At the end, the advice given to us was to start small and build up a reputation first, before attempting to tackle bigger projects.
This reputation would hopefully embody positive working relationships and performance. A big return at exit would have a hugely positive effect on our reputation, and our abilities as entrepreneurs and to generate great businesses and positive return for our investors.
In the venture world, my guess is that there are too many charlatans out there, those who are out to get your money and then can't execute. Or, it ends up that it sucks to work with these guys, even though they seemed sweet in the beginning.
So at least I have a positive beginning with my work history. It has carried me this far and now I have to bring that to the startup/entrepreneurship world.
I can only hope I can deliver....