Wojciech Drewczyński

Networking is not about who you know but who knows you. Your reputation is in your hands. Engage fully, support others selflessly, and pay it forward in the startup ecosystem. Step out of your comfort zone, consistently expand your network where value thrives, and watch as opportunities come to you first through a strong web of connections with founders and co-investors.

VC is not just a job. It's a lifestyle. You have to like and respect the people you work with. The same must happen the other way around. If you are brought together by a common mission and vision of how to change the world with your investments, nothing will stand in the way of being a team player. Remember that a team's strength lies in its ability to support each other. If you can contribute by filling in skill gaps, step up and do so.

Don't invest in industries you don't know about. It's an easy way to lose money. Lacking knowledge of technology, market dynamics, trends, and consumer behavior hinders your ability to accurately assess a project's potential. Without industry understanding, you may miss out on prime investment opportunities that seek expertise and connections from investors. Successful founders seek more than just capital, which might be your sole offering. Nonetheless, if you're passionate about an opportunity, consider collaborating with syndication partners with the expertise you lack for better investment outcomes.

Identify potential buyers and cultivate relationships with them early on. By maintaining communication, you significantly broaden your options regarding exiting. This approach can lead to multiple offers, allowing you to select the most advantageous one for your company. While preparing for an exit will still require time, having a target buyer in mind lets you strategically plan the company's growth and future. Don't leave it to chance. Take control of your exit strategy by fostering strong connections within the market.

Every company is for sale. Everything is a matter of price. The value to the buyer must align with what they gain. Understanding why potential buyers are interested in acquiring your company is crucial – whether it's for market share, intellectual property, technology, talent, or tax advantages. Tailor your company to suit these motives as different buyers place value on distinct aspects. By grasping these motivations, you can optimize your business in areas leading to a successful exit strategy.

Ownership is one of the best things a startup can give employees. Only some understand this, so try to communicate the ESOP well and don't give it out too hastily. Employee options will allow you to attract the best talent to the company and compensate for non-market wages if the startup can't afford them. Try to have as large an unallocated ESOP as possible. This will continually bring new people into the program and tie them more firmly to the company. Being a co-owner, you treat the place where you work differently. This is one of the most significant advantages that startups can offer.