The 43North team was in the house on July 30 when Mitchell Patterson from Armory Square Ventures came to Startup Grind Buffalo. Here are our 6 favorite things that he shared with a standing room only crowd at d!g.
“Beware of ‘venture inflation’ – companies haven’t gotten 4x bigger in last few years.”
“I define entrepreneur as a good problem solver. You don’t necessarily need to own a business.”
“The money I give is the least valuable part, the best thing I can do is build connections.”
“You need to approach a VC through a trusted referral source.”
“Best advice? Hire an attorney who knows what they are doing. So many entrepreneurs show up with terrible term sheets. I don’t want to walk you through writing a term sheet.”
“Don’t burn bridges. Don’t get upset or angry when someone says ‘no.’ You never know if you’ll need to ask them again or who they know. Just because I don’t think it’s good idea doesn’t mean it’s not.”
Next up for Startup Grind Buffalo? A talk on August 27 with Ty Shattuck, the Managing Director of Aethon Technologies, a sensors and analytics firm with offices in Rochester, Toronto, London, and San Diego. Learn more here.