Minneapolis VC: Seed-Stage Entrepreneurs Have More Confidence In Yourself!



By Patrick Meenan

“I’ve been seeing entrepreneurs receive and rely on ‘advice’ from ‘advisors’ that have zero business giving said ‘advice’ for about two years now, but for some reason have been seeing more of it than normal lately.

These ‘advisors’ typically have little to no experience working with a company in the stage or market of the entrepreneur’s startup and often times the ‘advice’ given is outside of their core functional area of experience.”

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  • http://www.playtabase.com Al Baker

    Nice post, Patrick. As a company that went through two accelerators (one currently), I’ve definitely run into plenty of “armchair quarterbacks.” Those rabbit holes can be costly to time, momentum, and confidence. Keep these posts coming, Jeff/Patrick!

  • Justin Kaufenberg


  • Dan Linstroth

    It is important to note the distinction between “receiving” advice and “acting on” advice. It is the action of acting on advice that I believe Patrick is referring to here. When you begin telling everyone you know about a new idea the most frequent two words that you hear in return are “you should.” “You should do this” and “you should do that.” This is a critical and valuable part of the learning process. It is important to listen to all of it, be it from a VC, advisor or a gas station clerk. Patrick’s post reminds us that the best part about being an entrepreneur is having the power to decide which pieces of advice are worth implementing. Keep an open mind and listen but rely on your instincts as well. Nice post, Patrick. Keep ’em coming.

    • http://pmeenan.com Patrick Meenan

      thanks dan – totally agree – being open to suggestions/feedback is an important trait to have – just need to remember that not all sources should have equal weight

      • http://tech.mn Jeff Pesek

        It’s up to the entrepreneur to discover and embody their own confidence (nature), but we cannot underestimate the overall adverse impact of media (nurture).

        Legacy media has done a *really* good job over the years of making entrepreneurs feel ‘less than’.

        Less than athletes.
        Less than entertainers.
        Less than politicians.
        Less than the murders, the molesters, and the crooks.

        Observe the demographics of subject matter overwhelmingly and deliberately perpetuated
        throughout legacy media in this state and you’ll see what I mean. Just sayin’

    • realist1

      disagree that it’s important to listen or receive all of it because time is the most important asset of a startup entrepreneur and giving it away to all the “advisors” and “experts” is one way to burn it up. part of having confidence is ability to trust instincts who is worth listening to, when and why.

      another thing about being in MN and probably everywhere is there are “advisors” and “experts” whose whole deal is to convince others that they need them to succeed and that my friends is the entrepreneurs enemy.

      nice post from a VC, as techMN would put it, candor.