Time for a tea?

I used to be the kind of American who loved a quick New York-style meeting. Walk in, fast intros, distill overlaps, debate for a few minutes, then leave before the latte cools. Limited small talk or pleasantries, just cut to the chase and done.

Then London happened. Fifteen years of pastry breaks and digressions. Meetings here sprawl. Lunch slides into coffee, coffee slides into “just one pint,” and suddenly you’re discussing AI ethics over sticky toffee pudding. It’s about the long game… relationship first, deal second. I got used to breathing room.

Fast-forward to last month in San Diego. I had time between meetings and reached out to someone interesting. No real agenda, just being “friendly”. The guy said “Swing by, I have 15.” I pictured sunshine, tacos, maybe a stroll. Nope… stopwatch on, espresso already half-gone, eye contact set to “prove it.”

Old me would’ve loved the speed. New me tried small talk… a joke about jet lag (not even a chuckle). My sprint reflex was dull. I was running in flip-flops, while this guy slept in a hypobaric chamber (1).

Twelve minutes in, I realized my error and made it clear that I had more to offer him than vice versa. He granted overtime, and at 29 minutes walked out saying he’d see me next time in London (eg he’d love some of my contacts).

Walking out, I wondered, “Did Europe make me soft”?

I texted my friend Jordan about this ‘hardcore’ guy. He had a simple reply:

Not only do I love tea and cakes, I actually write about the glory of a 3-hour conversation. What have I become!?!

I’ve become someone who values relationships, and broadly that’s a good thing. Europe helped me build a different muscle group. Long talks build depth, while short ones force precision. Focus on deadlifts and you’ll struggle with sprints.

The workaround is cross-training. I’ll schedule more time-limited conversations to stay sharp, and continue my marathons to stay human. I’ll use AI to help draft a “power paragraph” – one breath, all value. I’ll relive my debate days by writing five potential objections and a one-line reply for each.

Gear-shifting matters as well. Being able to read the room is a superpower. My goal for the year is to become fluent in identifying both dialects and quickly adapt their cadences – a true dual mastery.

Sprint when the bell rings, stroll when the sun’s out. Come across a stopwatch mentality, then start fast and earn the extension. Or spot pastries and throttle down, then push for a takeaway. Because business (and life) isn’t one speed fits all; it’s the playlist you shuffle on purpose.

(1) what marathon runners use to mimic high altitude to increase red blood cell production

The glories of a 3 hour conversation

Yesterday, something magical happened… I managed to have a conversation that lasted longer than 30 minutes. Not just any conversation, mind you, but one that took a glorious 3-hours.

The funny thing is, it didn’t feel like an all-encompassing marathon of ideas, laughter, and brainstorming. There were no grand assertions or emotional embraces. It was just a nice long catchup with someone who I enjoyed being with. It was both special and not that special at the same time (if that’s possible?).

Now, don’t get me wrong, I appreciate the efficiency of the 30-minute coffee catch-up. It’s the happy meal of social interaction: quick, familiar, and gets the job done. But let’s be honest, it’s never as good as the picture. You’re no longer hungry, but not exactly satisfied.

Those 3-hour conversations, though? They’re the Michelin dining of the social world. You savor the conversation like a perfectly cooked dish, the interesting questions the amuse-bouche, the exciting possibilities the main course, and dessert is looking forward to your next catch-up.

So, here’s my ambitious goal: by the end of the year I aim to have more 3-hour conversations than 30-minute catch-ups. (Wish me luck, we’re talking literally swimming pools of black tea!)

I’ll ditch the ” gotta run” mentality and embrace the potential of extended conversation. Instead of asking, “How about we connect next week for 3 hours?” I’ll leave ample time after my normal conversations for overflow. If they’re going well, who knows how long they could last!

Now, if you’ll excuse me, I have some strategizing to do. How do I subtly extend a ‘quick coffee chat’ into a conversation worthy of a three-hour epic? Wish me luck!”

Investor Reference Checks

In the past few weeks, I’ve witnessed startup investors being incredibly value-add and also seriously destructive. It always surprises me who ends up in which camp – my gut feeling is often wrong. There also seems to be little correlation between an investor’s value-add and seniority, background, or their fund’s ‘tier’.

The same can be said for the founders I work with. Trying to gauge the value-add of an investor feels nearly impossible during the fundraising ‘sales’ process (on both sides), and a founder backing out post termsheet because of a negative investor reference is nearly unheard of.

Something Kevin Kelly mentioned about reference checks (1) struck a nerve with me recently – that people are “reluctant to say anything negative” (which we all know) and to “elevate good behavior 10x more than punishing bad behavior”.

Kevin’s suggestion is to write a quick note asking to “get back to me if you highly recommend this <applicant> as super-great”

My first thought was that founders should write a similar “let me know if this investor has been highly valuable” email to a potential investor’s portfolio companies (2). That works fine on an individual basis, but the information is lost to the broader ecosystem.

Idea: send an email/message on the yearly anniversary of every investment round to every founder in the world, asking if each investor is incredibly value-add.

Then I thought, why not bake this idea into one of the many investor feedback sites that have launched recently? Or better yet, launch a new platform that simply asks “Is this investor incredibly value-add?”

No 1-10 ratings. No ‘Quite friendly’ or ‘They showed up late’ feedback. No investor rebuttal. Just the plain truth if an investor is incredibly value-add or not. Then display a ranked list of what investor has the highest number of founders who believe they’re incredible. Now that’s something I’d like to see.

(1) Bits of Advice I Wish I Had Known
(1b) Freakanomics Podcast

DUBNER: Here’s one that resonated with me in part because it’s very practical and in part because it has happened to me. You write, “When checking references for a job applicant, employers may be reluctant or prohibited from saying anything negative. So instead,” you write, “Leave or send a message that says, ‘Get back to me if you highly recommend this applicant as super-great.’ And if they don’t reply, take that as a negative.” Does that actually work? Do you know people who’ve had success with that method?

KELLY: Yes, I have used that method. There is a kind of a weird cultural moment right now where there actually are companies that cannot comment on previous employees and stuff. There’s a bias to saying anything negative for various reasons. But I have used this model of leaving a message on an answering machine earlier and now with an email saying, “Only reply if this person is super-great,” and sometimes I have not heard back anything. That’s a sign. And other times I’ve heard back, “Yes, you’re lucky to have this person.”

(2) Dear founder, I am considering taking an investment from <NAME>. Could you get back to me with a simple ‘Yes’ IF they have been incredibly value-add and you highly recommend them? If they are truly amazing and I’d be lucky to have their support, then I’d appreciate hearing from you.

The Components of Speed

I’ve always noticed speed varies drastically from company to company. Some are amazingly efficient, while others meander (or worse).

Recently, a founder asked me to help significantly increase their company’s speed. After a few conversations, we distilled the issue to focus and accountability. Basically, cut activities that don’t directly create value and stop accepting mediocre results.

I wonder, are focus and accountability the key drivers of speed at any company?

Are there other components of speed I’m missing? Do most companies consider how specifically to increase execution speed?

One aspect may be the mentality of team members; maybe some inherently execute faster and this company just has slow people? Or can anyone be fast when key company and leadership components are in place?

Basically, I’m left with more questions than answers. But I’m pretty confident speed is a leading indicator of a company’s success.

(1) Surprisingly it was a first-time request… seeing as how common the issue is

Me on the Iron Throne

Here’s one of my favorite slides from the “Going Global” session I hosted today with some amazing ScaleNL Dutch founders.

While some people present what they know, I basically overshare all the things I screwed up over the years… kind of like my version of group therapy.

I remember caring so much about consistency, brand, execution… when none of that really moved the needle compared to trusting and supporting the great people around me.

Hopefully reliving me on the Iron Throne trying to force people way smarter than me to ‘bend the knee’ will help others not make the same mistake 🙂

Cold Emails

I love what Stéphane and his crew at OpenVC are building, such an amazingly open ethos. They shared 14 actual cold outreach examples recently sent to VCs, all had the same general cadence:

Hi <VC>, I’m <NAME> with <BACKGROUND> building <PRODUCT> achieving <TRACTION> raising <ROUND>.

Anything feel off to you? Basically, all 14 are totally canned. And these were the best 😐 If you’re a VC, do these ever actually convert?

Email 5 at least writes “we feel like a great fit for <VC>”, but doesn’t qualify why with applicable examples.

Email 11 refers to a “chart on your website”, so at least there was a glance of research, but nothing further?

My guess is the amount of research/commonalities a founder refers to in a cold email directly correlates with their first call conversion rate:

Canned < 1%
Highly targeted > 10%

I wonder how many first calls an email like this would get…

Hi <SPECIFIC VC>

Congrats on closing your fund <#>, I’m sure <INVESTMENT> must have helped – what an amazing company!

I noticed your post <POST> and investments in <Y> and <Z>, we seem to share a common interest in <INDUSTRY/MODEL>. In fact, I’ve been building <COMPANY> to solve <PROBLEM>, which I’m guessing you have some experience with as well…

Whatever else is written from here, as long as it’s concise, my guess is the VC would appreciate the outreach enough have a conversation.

If a founder puts this kind of effort into an investor email, just think what they will do to win customers, staff, etc. (or so a VC might say to themself).

Gratitude Coorelation

I’m making a few VC intros for a founder I rate highly, the replies:

A+: “Many thanks for the intro!”
A: “I appreciate you thinking of us!”
A- “Thanks for sharing the opportunity” (x2)
B: “Please introduce me”
B-: “Happy to speak with them” (x2)
C: “We will have a look”

I wouldn’t say the differences are huge, but next time I’ll certainly consider prioritizing the 50% who say thanks.

Interestingly, how appreciative the reply is correlates well with the ‘tier’ of the fund – the A’s are all top European VCs.

Interesting vs Critical

The hardest discussions to table are interesting, relevant topics that aren’t critical.

I find most meetings cover important topics in-depth, leaving critical ones for the last few minutes. Simple questions easily lead to everyone chiming in. Challenges are often listed, but rarely stack ranked.

This seems especially true for board meetings. Board members want their questions answered, and few CEOs feel comfortable tabling most questions… even if doing exactly that would accomplish the most.

Idea: take note of all non-critical questions and provide written answers within 3 days of a meeting?

FOMO FOREAL?

A founder recently asked for my advice about creating hype and FOMO while fundraising, stemming from a post making the rounds in entrepreneur circles. Their take was…

“Based on the article, we should pretty much stop engaging with VC’s at the moment as we’re not (actively) fundraising, that information is a currency, and a certain amount of mystery seems key. Better to disengage entirely for the best chance of success?”

Something didn’t sit right, I better have a peek at this article – is it really suggesting founders not to engage with investors until actively fundraising?

Most of the advice is solid: a ’sherpa’ can help with introductions and navigate discussions, other investors suggesting a ‘hot deal’ creates urgency, craft your story based on current trends, don’t waste your time with tons of investor calls, be creative when attracting interest. Yep, that all resonates.

But this founder (and quite a few others, I’m told) focused on ‘intrigue is an asset’ as a key takeaway. If they plan every interaction, minimize casual interactions, and fill an investor’s mind with good news, then mystery and the magic of ‘limitless potential’ is created. Which then leads fo FOMO and ultimately investment.

In essence, unless you’re in total PR mode when speaking to investors, they’ll find out your company is a complete disaster and never invest in you.

To me, it felt like used car sales tactics more than finding a decade-long business partner and board member. But maybe I’m missing something? Perhaps the combination of planned, formal, mysterious, and good news is indeed the path to creating FOMO and raise a round?

So I called several investor friends (7 in total, all Partners of active VCs) and asked for their take on FOMO and relationships during fundraising. How did they source their best investments? How do they advise founders to fundraise? What % of their deals are FOMO related?

Instead of writing a slick post or creating an ultra-hip tweetstorm, I’m directly passing on the feedback I shared with the founder who initially asked for fundraising advice. It’s a combination of these 7 investor conversations and my personal experience. I hope it helps on your fundraising journey… may the FOMO be with you 🙂


1) Fundraising is about building a relationship over time, based on genuine/open/honest conversations (eg lines not dots)

2) The goal is finding someone you can spend a decade+ building with, who adds much more value than just money

3) Building investor relationships can have upsides other than fundraising, like introductions to potential revenue/staff/etc

4) Investors have seen it all (startup ups/downs), they see through planned ‘good news’ interactions (eg “the shit comes out in DD”)

5) A too much intrigue can set expectations too high, create trust issues, and even kill a deal that would have gone through

6) Instead of being ‘mysterious,’ think about frequently reaffirming the big vision (1/3) while sharing wins (1/3) and struggles (1/3)

7) Short term FOMO (eg mainly dark until fundraising) does happen in +-25% of rounds, vs 75% based on long term (9+ mo) relationships

8) This kind of FOMO is usually because of serial exited founders, incredible team, insane traction, or significant market change

9) FOMO fundraising can work, but there’s high risk if the market doesn’t form and you’re left with limited relationships to fall back on

10) When a FOMO fundraising ‘works’, it’s hard to push through IC, the dynamic can be off, and there’s limited rapport to work from

11) Optimal rounds are pre-emptive offers (with others then bidding), which entail some kind of dialogue and relationship

12) Treat fundraising like business development by segmenting your list into A) 5-6 top prospects B) 10-20 decent potentials, C) 40+ all other leads

13) ‘Massage’ deeper relationships with an A list YOU choose, vs 20+ surface exchanges with ‘time-wasting’ incoming interest

14) Spend time being top of mind with existing investors, frequent ambassador mentions to your A list go a long way 

No trust, no sale

Slimy-salesman

Selling is often considered an art form. It takes no less than the most fine-tuned of inter-personal skills and a precise focus on value.

But value is in the eye of a beholder, and to truly sell (I’m told) requires the innate skill to first empathize with a customer’s needs… and then at the perfect moment deliver an optimal solution to their largest problem.

Sales mastery in action

I’ve been lucky enough to witness sales mastery on a few occasions. It was indeed like watching an artist, with a few commonalities:

  • First the groundwork is laid, maybe an initial joke leading quickly to a personal connection
  • Next a mutual commiseration of shared problems and struggles
  • Then the soft touch of a potential solution, delivered ever so delicately at the opportune time
  • And lastly, the close. With the swiftness of a cheetah that somehow leaves the antelope feeling like it won

The ruin of a sale

Someone tried to sell me something today – and it felt all wrong. It simply wasn’t an enjoyable experience.

This bugged me because I was the perfect customer. In fact, not only did I deeply identify with the problem, I had sought out my own solution – which the service I was being sold solved perfectly!. To top it of, the service was FREE and delivered to me on a silver plate.

What was my deal? I had a problem that I unsuccessfully tried to solve myself but couldn’t, and someone was offering me a perfect free solution.

So why did I walk away feeling like a snake charmer just tried to scam me?

Because there was no trust. No groundwork was laid – it was straight to the sell.

The art of trust

Many sales acronyms exist. There’s DIPADA, DMAIC, among others. They’re mostly similar: Identify the problem, present a tailored solution, and close the deal. Some include smaller interim steps such as identifying the key stakeholder and creating time sensitivity – but the main topics remain the same.

What typically isn’t included in a sales process? BUILDING TRUST. Yet developing trust through a true customer connection is the most important element of selling.

Unsurprisingly how to quickly develop a trusting relationship is the most difficult step to teach. Much like delivering a pick-up line… it’s largely an innate ability.

It may involve a simple friendly smile, sharing a story, or keeping a promise. While the tactics may differ, the results are the same.

One of my heros Rand puts it well:

“Best way to sell something:
Don’t sell anything.
Earn the awareness, respect, and trust of those who might buy.”

So the next time you’re selling (we’re all selling something), think for a moment about the personal connection you’ll need to make to build a sale. Without laying the groundwork of trust, you risk coming across as an insincere salesperson to even your most opportune customer.