Recently, I was asked by a GP what I’d do in her seat.
I’m far from fully understanding all relevant VC responsibilities, and therefore not in a position to advise anyone in venture capital.
But still, her question made me think.
So I took a moment to reflect, and here’s what I came up with:
1. I’d require that at least 1% of every investment round go to the personal development of the founder and exec team.
Ideally, I’d ask for 3%, but 1% would be non-negotiable. Whether that amount goes into 1:1 coaching, peer forums like Entrepreneurs’ Organization or Young Presidents’ Organization, or any other growth path doesn’t matter.
What matters is this: A founder’s limitations are the company’s limitations.
If they’re not actively working on themselves, they’re already the bottleneck. As a VC, I’d only back founders who understand this — and are excited to evolve.
2. I’d start a pivot process the day right after the funding round.
Yes: the very next day.
It may sound counter-intuitive, but let’s be honest — as a VC, I know that 90% of portfolio companies won’t grow according to their initial plan.
I’d be in the best position to tell a founding team: “Chances that it works out exactly as planned are 10% — or even less. Let that sink in.”
Once the round is closed, we’re in it together. No more shiny decks. No more convincing. We’re one team now.
Now it’s time to get real — review the core plan and sketch out the backup too.
3. I’d invest real money (or ESOP) into building an outstanding board — and then set up an advisory board too.
And I’d make one critical adjustment: rotate 50% of the advisors every year.
Why?
- A) It brings fresh thinking to the board.
- B) Over time, it builds a larger pool of trusted alumni advisors — people you can bring back when the stakes are higher.
Because great investors don’t just bring capital and connections to the table.
They raise the level of thinking. They raise the level of personal development.