Continue To Be Persistent

This week, my venture firm, after a 8 year quest since it's inception, achieved a big milestone.  It was no cake walk, and we have a long way to go to fulfill our ambitions.

So when I was thumbing through this month's Forbes this week, there was a great set of quotes on, oddly enough, Ambition; in particular, this quote stuck with me this week and I thought I should share it:

Ambition is the path to success. Persistence is the vehicle you arrive in.

--Bill Bradley  William Eardley, IV   [Mr. Eardley emailed asking me to correct attribution]

In the rush to achieve, I think persistence (and it's many synonyms like obsession, determination, etc) is the single biggest factor in whether an entrepreneur will be successful. 

Meeting investors and acquiring customers requires a bit of persistence.  Most entrepreneurs, I think, have getting that first meeting or call or email down pat.  Some even go over the top.  Don't do that, but by and large most entrepreneurs don't.   

Where entrepreneurs fall down, (and I have myself, several times done this myself inadvertently), is failing to continue to be persistent after meeting an investor or a potential customer.  If you felt that things went well and it's a potential good fit for both parties, don't be afraid to keep them posted on developments as they happen down the line. It's amazing to me that an entrepreneur will send one email with their business plan or summary, I'll acknowledge getting it, and then I will never ever hear from them again.  

People invest and do business with those they know, respect and trust.  And the only way to gain those traits is to be politely persist ant and have a persist ant connection with that person in some way.  And if you have good news, that will seep in over time.  Big customers and investors-- and especially VCs-- are people, just like everyone else, although sometimes they like to pretend, and are sometimes perceived, otherwise.  So, after the meeting, if it was a good one, continue be persistent! 

 

Comments

[HLMorgan]

It's interesting that we both posted on persistence this weekend. It's a key quality, whether of entreprenuers or VCs.

[rachna]

Steve:
It was rather heartening to read your perspective on persistence.. I very much second your views on this.
- rachna