Being A Good VC Is Like Being A Good Father

June 13, 2012 by

With Father’s day approaching my son sent me a card that I opened early because I will be on a trip and won’t have access to cell coverage to thank him.

I opened up the card and read it with with a smile…

And I thought about how being a good VC is like being a good Father.

OpenView’s value to the founder and/or CEO and their management team of our portfolio companies is not just about understanding the financial numbers and key metrics around the business model. It is also about consistently being engaged on an operational level with the company as it grows from early to expansion to the growth stage until the company achieves a successful exit for everyone.

OpenView as a firm believes the way to build great companies is about operational execution — helping a portfolio company scale in the most efficient way possible by leveraging our partner operational backgrounds, OpenView Labs, OpenView’s advisors, independent board members, and our network of operational executives. Our goal is to help companies make the right decisions at the right time regarding people, strategy, and execution. And yes, when necessary, we try to help them “unwedge their head from their rear,” even when that may be a difficult and sensitive task to accomplish.

This isn’t something that could be achieved if the only time we saw them was at Board meetings, or if the only time we called them up was to either ask how the quarter ended or bust their chops when things did not go according to plan.

It requires taking the time to build a real relationship through both the peaks and the valleys, through the thick and thin. If you’re able to build the kind of business relationship you’re hoping for, it’s because you jumped on every opportunity to support the founder and/or CEO and their team, and that you took the time to demonstrate sincere interest in making them successful.

It’s when they can call you up out of the blue to discuss an issue that just came up, because they trust you will tell them what you really think whether they like it or not — that is when you know you have their trust and the right type of relationship. In that way, it’s really no different than how you raise and treat your children.
Nothing is more gratifying to me as a father than having my son or daughter say thanks for the help, it made a difference. The same is true for me as a VC with my portfolio companies. When they say thanks for the help and tell us we have made a difference, I know I’m doing my job.

I hope everyone has a great father’s day weekend. I already have!

All the best!

G

P.S. Below is the picture of my 87 year old father, his 93 year-old fishing buddy, and my brothers from earlier this week when we took them fishing for Fathers day. That made my Dad’s Fathers day also!

Fathers Day Fishing Trip On Lake Michigan

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