Jeff Bussgang’s forthcoming book, “Mastering the VC Game,” like his blog “Seeing Both Sides,” reflects his experience as both entrepreneur and VC. It is a nicely researched, informative and compelling read. Beyond the research among other VC’s and entrepreneurs the book provides an inside look at Bussgang himself. By sprinkling his own story into the “game” Jeff humanizes a topic often dished up by other works in a very dry, clinical manner. I wish he’d put the book out a few years ago, though. It would have been nice to read before we worked together on the sale and merger of my firm with one of Jeff’s portfolio companies. At the very least, I would have had a better appreciation for what makes Jeff “tick.”
Jeff spent ten years as an entrepreneur building two successful companies, one went public and the other was acquired. Now he is a General Partner at Flybridge Capital ($500MM+ under management) and a Harvard Entrepreneur-in-Residence based in Boston. With firsthand experience and insights gleaned from some of today’s most successful VC’s and entrepreneurs, Jeff provides entrepreneurs with an excellent game plan for starting, funding and growing their businesses. From considering whether one is up for the game to begin with, all the way through to the exit (sale of the business), Jeff touches on each challenge with tips, viewpoints and anecdotes from both sides of the entrepreneur-VC game.
One thing from the book that really resonates for me is the focus on looking at each investment opportunity as a “movie” where the wise investor examines a potential deal over time, evaluating how the movie plays out while working with the entrepreneur. This is something for both investor and entrepreneur to give considerable thought to since it is a rare entrepreneur that will be the “1 in 300” among those pitching VC’s that gets funded. If the entrepreneur approaches the funding process knowing that they need to play the game for several months or more, it really changes the relationship dynamic. Too many entrepreneurs have the mindset that there is one big moment, that 1 in 300 pitch, that will define their success in getting funded. Jeff’s insights here actually give some comfort to the confident entrepreneur that needs to focus on moving forward with the business regardless of the outcome of each investor meeting – that sort of focus and perseverance is what the investor really wants to see.
I’ve already recommended Jeff’s book to many friends, entrepreneurs and a few universities where teaching entrepreneurship has become increasingly important. They’ve begun to place their orders for the book, due for release at the end of this month. I hope you do the same and look forward to hearing about your thoughts on Jeff’s work.
