Key Principles

1. Partnership, Not Transaction: VC negotiation is choosing a partner for future success and failure, not just securing investment.

2. Non-Monetary Value Matters: Mentoring, strategic advice, networks, and political capital are often more valuable than money alone.

3. Leverage Wisely: Your leverage comes from alternative options. But pushing too hard for short-term gains damages long-term relationships.

4. Trust Is Foundational: Be transparent about problems. VCs respect honesty; hiding issues destroys relationships.

5. Don't Confuse Value with Valuation: Chasing high valuation while surrendering control can be catastrophic long-term.

6. Understand the Terms: Liquidation preferences, participation rights, and other terms can matter far more than headline valuation.

7. VC Relationships Are Like Marriage: Once you sign, you can't easily leave. Focus on long-term trust and partnership.

"The venture capital world is small. Your reputation is your resume."