Betty Liu and Alan Patricof talk about building companies, the time he rejected Starbucks and his advice for new entrepreneurs.
Click here for the full post: https://www.linkedin.com/pulse/vc-pioneer-recalls-his-biggest-investing-mistake-why-its-betty-liu?trk=prof-post
"It's a lot easier to make people happy. Give a gift, a compliment, some help.
Knowing that you're about to make someone unhappy - that's really difficult. There's an art to it. Delivering bad news is never easy. Some people are terrible at it, dancing around the rejection or masking the bad news as good news.
If you're an entrepreneur or a hard-charging executive who takes risks, you'll have to get used to lots of bad news and rejection. George Zimmer, the former CEO of Men's Wearhouse, described how ten years into running his company he had to fund raise again. Traversing the country, everyone rejected his proposal until his mother bailed him out. Ouch.
What if you're the one who has to dole out the rejections all the time? That's the problem for someone like Alan Patricof, one of the best know venture capitalists in the country who has funded some of the biggest companies like Office Depot, Apple Computer, AOL.
Betty Liu chats with Alan Patricof about building companies, rejecting Starbucks and his career advice for VC and entrepreneurs.
Read the full post here: https://www.linkedin.com/pulse/vc-pioneer-recalls-his-biggest-investing-mistake-why-its-betty-liu
"After decades of telling people no, Patricof jokes he has a slight paranoia when people approach him and say: "You don't remember me but."
"When you've been around this business as long as I have, every week, in fact sometimes multiple times a week, someone will come up to me who I have no idea who it is and they always talk the same way, `You don't remember me but...' And that has made me think a lot about...how you deal with people on the way in your career," he said in the latest episode of my podcast, Radiate.