Challenging Times Call For Learners, What Venture Capitalists Should Be Seeking

"In time of change, learners inherit the earth while the learned find themselves beautifully equipped to deal with a world that no longer exists." -Eric Hoffer, 1902-1983

Have the Courage to Learn

It would be hard to find a person willing to quibble over the premise that we are in times of change. Eric Hoffer, a prolific American social writer, understood there was great opportunity in change. Yet, he argues, the opportunity can only be realized with the confidence and self-esteem to ask questions and learn about the change that surrounds you.

The Paradigm Trap

Often, especially in the case of experienced entrepreneurs, we get trapped into paradigms, methods, and frameworks. Granted there is empirical data to support they worked. But, will they work now? This should be the abiding question in your current due diligence.

We Are In Change

We are in the midst of an unprecedented market conditions: gas prices are up, mortgage companies are imploding daily, housing prices are plummeting, people are more and broader connected than ever, the Internet gives the average person more data than Einstein had available in a lifetime, millions of consumer inquiries are generated daily on the Internet and 60% are never answered. What does all this mean?

What Should Venture Capitalist Do?

It means things have certainly changed. It means old paradigms may not hold. It means you and your entrepreneurs better be learning. In your next pitch, ask a few questions:

What have you learned about your market in the last 3-6 months?
How will this business plan leverage that learning?
Do you have a system for learning?
What is it? And, how do you synthesize it?

In times of change, have the courage to learn. What have your learned today? What will you do with it?

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