article thumbnail

Are Business Plans Still Necessary?

Both Sides of the Table

Many of these businesses were what First Round Capital called FNACs (features, not companies – this acronym has always stuck with me). That died with waterfall software development. Do you really want to spent $100k building a product to discover through Customer Development that the market is too small?

article thumbnail

ProfessorVC: The Most Important Venture Capital Statistic

Professor VC

At Fliqz, we met or exceeded the sales plan every month during the due diligence process. However, as we soon discovered, many of these firms were forced to hoard capital for existing portfolio companies and focus most of their time and energy on deciding which ones deserved these reserves. Same principle here.

article thumbnail

Death By VC

Venture Chronicles

Throughout my years in the venture capital business I was witness to some questionable behaviors and tactics, which in reality is par for the course in any business, but nothing could have prepared me for what I have seen in the last 2 years. It’s the nuclear scenario.