Hello, everyone. Today, we’re talking about product advice from VCS. Don’t listen to it!
Being the check writer puts the VC in a position of authority for most entrepreneurs. Add in that most investors love giving advice, you might find yourself receiving a good deal of feedback in your meeting. However, the market for bad advice remains red-hot. So don’t feel obligated to take any of their advice. VC’s talk a lot doesn’t mean that always right.
VCs are very good at pattern matching, understanding markets, and reading people. Unsurprisingly though, these are not the sources of product innovation. So you shouldn’t expect a VC suggestions about your product to be market-leading (to say the least)
In almost all cases, you’re not even selling to the VC market, so you can get much more valuable feedback from talking to potential customers. And, of course, that has the added bonus of potentially turning into revenue