Advice for Startups from Tom McMurray Retired Partner from Sequoia Capital | Ep. 162 | Business Podcast
Summary
Tom McMurray is a retired venture capitalist from Sequoia Capital, angel investor and philanthropist.
In episode #76 we talk about how venture capital works, Tom gives entrepreneurs who are looking to raise money from VC’s some things to think about, and shares some great Silicon Valley stories from when he and his partners from Sequoia funded some of the largest companies in the world like Apple, Cisco, Yahoo and Google. Most every one of them started in spare room or garage.
Listen to episode #76 after you grab these tips he gives start ups looking to raise money from venture capitalists.
Brandon:
Hello Friends, welcome to the show today we’re jumping back to episode 76 giving you Tom Macmurray a retired partner from Sequoia Capital’s three H.
Brandon:
P. T. S. High percentage tips from our conversation about how venture capital works Tom and I had a great conversation about exactly how it works.
Brandon:
So if you’re looking to raise money for your business you’re going to want to jump back after you listen to this short episode to episode 76 or tom. And I talk all about the dynamics of how venture capital works.
Brandon:
Here we go welcome to build the business success secrets. The only podcast that provides straight talk for entrepreneurs whether you’re an entrepreneur starting with an idea or growing your business. This show is for you we’ll teach you how to build a strong mindset, powerful body and profitable business so you can achieve success and here’s your host Brandon.
Brandon:
See White three H. P. T. S. High percentage tips for entrepreneurs who are building companies from all of your years of seeing incredible success and while you’ve seen incredible success you’ve seen some two bases and you’ve seen carnage.
Brandon:
So what would you give advice for entrepreneurs who are looking to start grow and build and ultimately maybe sell companies.
Brandon:
Okay so the first one I would do is I would if I had a product idea and I was I thought I could build it I’d probably I’d probably have a friendly cup of coffee with some early stage seed ventured person and just say hey I just don’t pick your brain.
Brandon:
I I have an idea I’m working on, I’d like a little feedback I think if I can make it go, I’d love to have you there.
Brandon:
So I think getting an outside validation or let someone else to ask you tough questions about what business you’re in and what the markets like these deals getting funded.
Brandon:
That would be a really good 1st 1.
Tom:
The second would be to boy.
Tom:
I, I think the second would be trying to carve out how much time you can give this idea of a starting your company and the products do you, I mean are you committing a year to this?
Tom:
You got enough money to live a year and not do anything the time allocation to really be able to vet out your business to write the code of that in cases that, so that being being prepared to go the distance, if you’re going to make the, if you’re gonna go the first step, you need to go the distance so that having someone to talk to that might become a partner and the third would be boy.
Tom:
Just from my experience, it’s like if you have a family or a relationship or something, everyone needs to be on board maybe even mom and dad, I don’t know, but, but I think you really got to understand the, the stress and the strain of working, I mean when I was gonna start, we used to have staff meetings at two p.m. On saturday.
Tom:
Yeah, we had 60 work.
Tom:
We had to, we had six day work weeks, two p.m. And and and I was actually took a 10% pay cut.
Tom:
So I mean it was hard, I mean I had Sundays off for my two sons.
Tom:
That was it and it was, it puts a lot of stress on that.
Tom:
So you got to go the long run here.
Tom:
So your family, your time and commitment and having some outsiders to help mentor you or guide you ask tough questions.
Tom:
Those will be, You’ve got to answer those three if you’re single, The 3rd 1 doesn’t matter.
Tom:
But that just is not the case for most entrepreneurs these days.
Tom:
Thanks for being generous with your time and joining us for this episode of build a business success secrets.
Tom:
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Tom:
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Tom:
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Tom:
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Tom:
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Tom:
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Tom:
I’m rooting for your success Yeah
