Entrepreneur or wanna be?
Thursday, July 31st, 2008One issue I hear about a lot from venture capitalists in town, is the problem of sorting through what I think of as “real” entrepreneurs from “wanna be” entrepeneurs.
“Real” entrepreneurs are those who really have a business model, are fundable, and have the experience and knowledge to make a “real” business.
“Wanna-be” entrepreneurs usually do not have any experience/knowledge, don’t have a business model, probably will never be able to get a venture round, and generally are a waste of time for VCs to deal with.
Some hallmarks of “real” entrepreneurs:
- Have relevant knowledge in the field they’re attacking, usually in some sort of senior/executive role at a related firm. (i.e., starting an Internet ad startup, was a VP at Overture/Google/etc.)
- Have been willing to invest their own money and time into the venture.
- Track record of success bringing prior products to market.
- Are well into implementation of their idea
Some warning flags on “wanna be” entrepreneurs:
- Do not have any relevant experience in the field they are attacking. (i.e. starting Internet ad startup, used to be a insurance salesman)
- Pitching a power point and idea, not a running business.
- No track record of bringing anything, much less a company, to market.
- Have been looking for $ for their idea for 2 years and don’t have anything running yet.
Which one are you?


