Whatever your company does there is someone doing something fundamentally similar (from the perspective of a VC building a portfolio of companies). So, ceteris paribus, VC's will always invest in the management team that is willing to sign the worst contract.
How you feeling about that termsheet now?
Read the rest of Negotiating (or Not) Your Term Sheet.
Got a quarter? Flip it twelve times and call it every time. Get ‘em all? Then you can easily choose the successful startup when you interview. More seriously here are your options:
1> Know someone who has done a lot of successful startups. Follow them around.
2> see <1>
Really. At the end of the last boom I watched a telco equipment supplier emerge unscathed from the carnage. The did a D round (up!) for $125M when companies were selling themselves for less than cash on hand. They had key patents. Three major telco’s were putting their equipment in. Cisco was sniffing around. Two years later: money gone, E round (12:1 reverse) for $15M floundering, zombie staff. All that with a superstar CEO, Vince on the board, etc, etc. The people who ran that business and joined it did everything they could, even in hindsight.
Read about Joining a Successful Startup.
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