Smart Little Things (Part II: Updating on Your Successes)

Yesterday, I posted about a smart little thing that I’ve seen entrepreneurs do when they pitch to us here at Masthead – asking if there is anyone who s/he should talk to that might be helpful. Today I wanted to highlight another one. As with all VCs, we are in the position of having to say “no” to 99% of all opportunities. There are many reasons why we wouldn’t do a deal, and a significant one of them comes down to timing. Perhaps it is too early for us to get involved without having that key channel partner, a demonstrated customer usage pattern, or other external validation. However, it doesn’t necessarily mean that we aren’t interested at all.

A few smart entrepreneurs that we’ve met with have periodically kept in touch with us via e-mail, updating us on new customer wins and other successes. With some of these people we’ve reengaged with to re-explore a potential investment. Others we’ve ended up introducing to potential partners and other valuable people that we’ve met since the initial pitch. A timely periodic, short, e-mail is a great way to keep VCs you’ve talked to updated on your company’s accomplishments. If it’s done a way that isn’t overly frequent or overly intrusive, I think only good things could come of it.

David Beisel

David Beisel is a co-founder and Partner at NextView Ventures. He has been focused on early stage Internet startups his entire career, both as an entrepreneur and venture capitalist. As an investor in the digital media space, David was most recently a Vice President at Venrock and previously a Principal at Masthead Venture Partners. Prior to becoming a venture capitalist, David co-founded Sombasa Media, an e-mail marketing company best known for its flagship product BargainDog. Sombasa was successfully acquired by where David served as Vice President of Marketing. David holds an MBA from the Stanford Graduate School of Business and an AB in Economics, magna cum laude and Phi Beta Kappa, from Duke University. He also founded and leads the Boston Innovators Group, an organization which holds quarterly entrepreneur events drawing a thousand attendees.