Seattle-based venture capital professional Greg Gottesman sits down with Jeff to discuss what he loves about working with start-ups, and how that led him to forming a start-up of his own. He also explains why timing is everything and why everyone should being doing a Startup Weekend. What else did Greg and Jeff discuss? Check out the highlights:
Greg was drawn to the venture capital field because he loves everything having to do with the next big thing. His favorite part is getting involved with a company in the very earliest days, where every decision is critical for the company. He thinks finding the right entrepreneur is essential to a successful VC/start-up relationship: “The most fun is getting involved early and working in a space I think is interesting with a person I think is exceptional.”
Finding and funding a successful venture is all about timing, Greg says. Even if you've got the greatest product, it's meaningless if no one is ready for it. “The best entrepreneurs and investors really nail timing,” Greg says, adding that much of success in the tech sphere has to do with timing and fining the right window for a product.
The three biggest factors for start-up success? A great team, a great product, and – of course – timing. A start-up needs a good leader but it also needs a good team to help back that entrepreneur. A killer product is a must-have too; a good start-up team has someone who understands the customer and can get them to use the product even when they don't need it.
Greg explains why the Pacific Northwest is tech's greatest untapped resource for technical and entrepreneurial talent, and why being a VC in the area is so exciting. He also shares the tech trends he sees as the big up-and-comers: mobile technology, cloud computing, and social media. “I don't think it's overhyped in terms of the transformational effect it will have,” he says of cloud computing, adding that any one of the three could be the next huge opportunity.