3. Hear no rules

Incident: Despite knowing the strict policies of investors against signing non disclosure agreements, one entrepreneur thought he was exceptional and proposed the idea to Seth Levine.

Reaction: “Am I supposed to be bowled over by how amazing this potential opportunity might be, change a cardinal rule of our business and through this series of emails think that you’d be a competent manager, effective advocate for your business and a good guy to work with?,” reacted Seth.

Lesson: Never expect your VC to make an exception for you just because you think your idea is great. Respect their policies and conditions.

4. Go get your Job back

Incident: Dan Leahy, co-founder of Village Vines was asked by the investor to go back to the bank he was working at and the job back.

Reaction: “A lot of people will tell you that persistence and stick-to-it-iveness is what’s going to make you a successful entrepreneur. If you want my honest opinion, if I were you guys, I’d go back to the banks you left, and ask them for your jobs back. You don’t want to throw it all away for this,” reacted the investor towards the end of the meeting.

Lesson: Take lessons from what your VC says but do not take everything that he says upon your heart. It might break your interest and dedication towards your work sometimes.