After the GMAT, the VCAT (Venture Capital Aptitude Test)

Posted November 29th, 2006

Sand Hill Road Sign.jpgBrilliant post by Guy Kawasaki about wheter it is appropiate or not for someone to try to be an VC. GO READ IT NOW! The Venture Capital Aptitude Test (VCAT)

After you have read it (very insightful), here are my results (I just leave the points that apply…)

Part I: Work Background

What is your background?

* Engineering (add 5 points)
* Sales (add 5 points)
* MBA (subtract 5 points) (definetely not cool this one, Guy)
Part II: First-Hand Experiences

* Worked at successful startup, so that you can speak first-hand about the ecstasy of entrepreneurship. (add 1 point)
* Worked at a public company, so that you know what the end goal looks like, warts and all. (add 1 point)
Part III: Necessary Knowledge

* How do I introduce a product with no budget? (add 2 points)
* How do I determine if there’s really market demand for my product? (add 1 point)
* What do I do if customers hate our first product? (add 1 point)
* How much time, energy, and money should I spend on patent protection? (add 1 point)
* What kind of people should I hire: young, old, unproven, proven, cheap, expensive, local, remote? (add 1 point)
* How do I get them to leave their current jobs without throwing a lot of money at them? (add 2 points)
* How do I tell my best friend that he can’t be chief technical officer just because he was a cofounder? (add 2 points)

That was fast, I just deleted many lines on the original post. The total is… 17 points.

Results

Here’s how to assess your readiness to become a venture capitalist:

* 40 or more points: Call CalPERS and tell them you’re raising a new fund.
* 35 to 39 points: Call Sequoia and Kleiner, Perkins and tell them that you’re available.
* 25 to 34 points: Send your resume to 2,000 venture capitalists and pray.
* 24 points or less: Work until you can score higher, keep flying on Southwest Airlines.

Good news, I am just 8 points away from being encouraged to send my resume to 2,000 VCs.

And I am working hard during the MBA to get them!


2 Comments

  • Faisal... said:

    Hello Patxi

    I did not want to post something that is unrelated to your article. In the end, this is exactly what I have done (sorry :( ).

    I have been invited for an interview at LBS (for EMBA). I would like to know whether the structure of the interview is pretty muc the same as the MBA one? As for the tips, your ones and angie are very good.

    Thanks for sharing such nice blog to the world …

  • Genie said:

    Patxi, great post! And I found out that I almost don’t have any skills for venture capital, by the way :-)


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