I often take the role of "bridge" and end up introducing business person A to business person B. This win/win introduction then creates business for person A and B that would not have occurred had I not first introduced them and second had a system in place for understanding person A and Person B's businesses. This understanding allows me to make contacts that produce results.
I am curious as to ideas for compensation for being the bridge or if thinking compensation makes no sense. I have one system in place that offers a subscription model and this allows me to be an extra set of eyes and ears over a set period of time, but what about those one time opportunities.
Would love some thoughts on how others are dealing with this.
Allen Morgan, one of the General Partners of "Tier 1" west coast firm Mayfield,
has just finished his "10 Commandments" series of posts. Any first-time
entrepreneur planning to seek VC financing at some point will find
worth reading and reflecting on Allen's interesting insights. I always
say in such circumstance that no one should take "VC Do's and Don'ts"
literally because each startup and each fund are particular. However
Allen's points are often practical, and sometimes candid, and can be
applied to many (first timer's) situations. Here they are:
Congratulations to Allen for taking the time to put these thoughts "on paper",
they are a great complement to Brad's own contribution on clarifying financing terms that are found in typical US termsheets. I should also have mentioned the threepartseries
on "Saying No" that Bill Burnham has recently published. Why ? Because
it is critical for entrepreneurs to "read" through Yes, No's and
Maybe's. Ross provided the entrepreneur perspective with which I agree.