When Raising VC Money, be Wary of NINAs

You’re likely wondering what a NINA is. Well, it’s someone inside an organization with no influence and no authority. And when you’re looking for a VC investment, they pose a headache-sized distraction risk.

In a recent post on his blog, former entrepreneur and current VC Mark Suster shares some helpful acronyms that should ease the hunt for VC money. Suster says that entrepreneurs can encounter four kinds of people during their search. Here they are:

  • I: This stands for someone with influence.
  • A: This stands for someone who has authority.
  • IA: Naturally, this stands for someone with both influence and authority. This is quite a rare find, so if you’re able to stumble upon someone at VC firm with influence and authority, hold on for dear life. Suster calls these types of people egg-breakers. They do what it takes to get things done (derived from cracking eggs to make an omelet).
  • NINA: These are the people you want to avoid.

For more on the types of people you can encounter when looking for VC funding, read the full article by Suster.

Related content from OpenView:

Should every company be actively looking for funding? Nope. Find out why by reading this post. In a related post from OpenView, here’s a checklist for preparing for a VC fund raise.

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