Developing Entrepreneurial Careers
Chris Burch stated that the first major step toward becoming a venture capitalist is to become the owner of a business. This advise is quite an innovation in the venture capitalism arena. 50 years ago, future venture capitalists would have been advised to become bankers to develop relationships with the banking industry if they wanted to become venture capitalists. The current trend, however, involves businessmen who have already made a name for themselves through the success of their own personal businesses which they have built from the ground up. After having worked long and hard to develop a business and experiencing the effort and commitment that entrepreneurship entails, businessman are able to adequately choose other businessmen who possess the skills needed to successfully build a company and make wise investments in those businesses. For this reason, Burch suggests that future venture capitalists first become successful entrepreneurs.
Building Relationships Within the Business Community, Chris Burch also discussed the need for future venture capitalists to build relationships within the business community. As an entrepreneur, it is important for businessmen to reach out to others who are experiencing the same life challenges. By building relationships with other entrepreneurs, businessmen can create lifelong friendships and connections that will come in handy in the venture capital industry.
Sharing Knowledge With Aspiring Entrepreneurs
Chris Burch (http://christopherburch.net/about-chris-burch-serial-entrepreneur/) also emphasized the necessity for successful entrepreneurs to share their knowledge and skill with aspiring entrepreneurs. Burch stated that venture capitalism allows entrepreneurs to experience a full-circle career by making financial investments in start-ups that will possibly become iconic. The businessman stated that venture capitalists must not forget to also invest in the building of the entrepreneur’s character and must not forget to share his own experiences with newcomers to the business.