George Doriot's Guidelines

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George Doriot had guidelines for venture capitalists, which were:

1. Don't try to run the business. The entrepreneur knows best.

2. Treat the portfolio companies like your own children. Kick them every now and then if they need it, but be fair.

3. Be a help. Be there when needed. Be an ear, a sounding board, an alter ego, and a crying towel.

Do what is necessary to allow the portfolio company the opportunity to achieve the potential you originally thought you saw was there. Don't pull the plug too soon.

4. Be realistic. Don't get swept away. It is very easy to listen to an entrepreneur and start getting fired up. Entrepreneurs are persuasive people.