5 Things Venture Capital Firms Look For In A Startup

One of the most difficult parts of being an entrepreneur is convincing others to invest in your idea. On Quora, Floodgate Fund founder Mike Maples recently discussed the five elements the venture capital fund seeks out when determining which startups to back.

1. Vision
According to Maples, vision can be a secret that your company has figured out, a unique technology skill, a passion for a particular subject or a new approach to an old solution. However, without vision, he says a startup is “only a small and weak version of a bigger company.”

2. Persistence
Maples says that every single startup repeatedly goes through tough times and may look like a failure several times along its path to success. Maples looks for leaders that he believes are passionate enough about their companies to fight for them when times get hard.

3. Commitment to AWESOME
The best business leaders don’t just want to be successful; they want to be the very best. Maples looks for entrepreneurs who demand that every part of a business, including the people they hire, is the absolute best it can be.

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4. Curiosity
The most successful entrepreneurs are not just experts about their products, services or technology. The best CEOs in the world are constantly learning about all parts of the business, and the lessons never stop coming.

5. Naughtiness
Maples never wants to get behind an unethical founder, but he says that having a feel for when to strategically bend the rules is a positive. Startups are at a huge disadvantage, and they often need a leader that is willing to do whatever it takes to succeed.