If you are interested in working with startups and you want to be employed by a venture capital firm, you need to get involved!
What does getting involved really mean?
A few days ago, Matt Shapiro, an Associate at LaunchCapital, gave me a quick call. Matt just completed his graduate degree at the Yale School of Management and is the creator of the Entrepreneur’s Census, a survey that collected data from entrepreneurs and investors across the United States. I asked him for advice about how to land a position with a venture capital firm. He suggested several ways to work with startups, but he told me that it was almost impossible to become an Investment Associate working with venture capital and private equity. The industry has been shrinking and there are a limited number of firms. On a side note, he told me that the Entrepreneur’s Census gave him an avenue to expand his network and give back to the community that drives his passion.
When our conversation ended, I realized that if I want to get involved with the venture capital community, I need to give before I receive. After recognizing this incredibly important business rule of thumb, I have been taking steps to leverage my knowledge about the industry. I want to help both entrepreneurs and investors by disseminating information. You simply cannot expect people, especially high profile investors, to take you seriously unless they know you are driven to be involved and make an impact in their community. Most venture capital shops do not even have positions available. The few firms that do have openings usually seek people that went to top tier Universities and have three years of investment banking experience.
If you really want to get involved with venture capital, you need to look past the lofty job requirements and know that if you contribute to the startup ecosystem, your talents will be noticed. Wherever you are seeking employment, you need to believe that you have something to offer. Credentials do not get you employed; they only get you an interview. When I first thought about what I could do for an investor, I came up with no ideas. I concluded that…
“Investors have unbelievable amounts of money. What could I possibly give them?”
Fortunately, I reevaluated the situation. Investors want simple sentimental contributions. I created my blog because I enjoy writing about business, but I also want to help entrepreneurs and investors. As I was browsing through LinkedIn, I noticed a comment from one of my connections that said, only fifteen percent of venture capitalists blog. For most investors, it is probably incredibly difficult to blog with such intense schedules. Nowadays, you need to find a way to connect with your audience and build relationships. However, regardless of the career path you choose, fill a gap in the community and your efforts will be recognized. Build your personal brand and deliver a high level of expertise.
Jason Biondo
http://jasonbiondo.com