How to Level Up Your VC Network
3 Pros Share 5 Tips for Further Experimentation
You can learn a lot from the social structure of a beehive. It’s very organized to accomplish great things, and that involves relationships– a network of sorts. If you work in or around VC, you know one’s network plays a vital role. Who you know translates to opportunities — for investment, advice on strategy, GTM, good hires, great marketing, potential customers, and the list goes on.
Thanks to knowing Cory Bolotsky, of the VC Platform Global Community, I joined 100 others online to hear his insights alongside Keshvi Radia of Balderton Capital. When leading the conversation, moderator David Connors, of aptly-named ‘The Swarm’ harkened back to his time at Sequoia.
Together they offered practical advice to those working in VC who wish to tackle the challenge and opportunity of leveling up their network by integrating new solutions. They noted many VCs have yet to embrace such tools to scale the team’s network. When they do employ tools, it is not often done optimally for the desired outcomes, or poses some risk to the network integrity.
So here are five outtakes to avoid those pitfalls:
1) Go Qualitative over Quantitative
Or at least place value on Qualitative. That means the sheer volume of potential introductions generated may not be a great goal. But rather precise and targeted connections that lead to trusted and tighter relationships work better. So if you are just dumping in contacts without clean data, then hang on. You might want to rethink that approach.
2) Bring your Team Along
Talk to your General Partners early on to confirm what business/firm goals you are supporting in pursuing this network build-out. Align what you do with fund priorities. When you are further along and ready to finally implement your solution, focus on training and enabling your team’s success. Create an onboarding experience: write an engagingly fun and step-by-step FAQ when you roll out your CRM or chosen tool, to ensure the team is ready to embrace it.
3) Don’t Reinvent the Wheel
But first, how can you get started? Step 1) Look for a peer community likely grappling with the same Q’s you have. Leverage that knowledge. The Global VC Platform is great for this! Step 2) Look for existing SaaS solutions before endeavoring to build your own. Most people in VC are investors or investor-adjacent and not necessarily software developers, though some are. Among other VCs who have done so, Aleph in Israel built a tool from scratch. Moderator David discussed developing The Swarm to meet these needs; Keshvi shared some first-hand anecdotes about using it.
4) Protect the Etiquette
There is a cultural shift when you choose to scale from your personal network to the firm network. So be thoughtful and cautious about it. Respect the nuance of personal relationships — especially for OG investors who may have spent decades curating and protecting such connectivity. Not all information can and should be shared firm-wide. There is etiquette to uphold and you support that by setting aside sufficient time to onboard and train people in using the tools. According to Keshvi: “Don’t forget the bits around the product tooling; onboarding is key.” Even 15 minutes of showing someone how to exercise proper etiquette makes a difference.
5) Pick Your Battles
Keshvi suggests selecting a tangible use case based on portfolio company needs, GTM specialists, a key hire, or a deal from an industry that has proved evasive for the team. Once you can use your data to help secure a win, you might find a champion or a ‘brag partner’. These allies can help convince or build trust with others; they are more likely to be excited to pursue the plans. So pick your battles well, clean your data, and understand it — be able to explain it to others.
To wrap, look for stories that convey the results of your efforts. You want to close this loop, so people see what’s possible and feel compelled to take part and level up the network.
How’s it going for you? Let me know in comments or via channels below.
