ResolutionsJan 27, 2009
At the end of every year I always get asked what my New Year resolutions are. My answer is always the same….I don’t make New Year resolutions (or even Chinese New Year resolutions— Gong hei fat choi! . If something needs to be tended to that would require a resolution, I would just as soon get at it immediately.
That being said, the gaps tend to get exposed at the end of the year. This year it was a crazy fourth quarter led by the financial meltdown. Like every other VC we were very busy helping the companies of our portfolio prepare for a very different 2009 than we could have anticipated six months earlier. As a VC the portfolio is always my first concern and when the portfolio work expands to fill all the hours of the day not much else gets done.
For a firm that prides ourselves on our ability to make decisions quickly, this is a bummer. We get introduced to thousands of companies a year and this year the number of introductions accelerated at the end of the year. We met a bunch of companies in November and December that we are still coming up to speed on. I think we’ve caught up with the backlog (if you disagree let me know but it has been a challenge.
We have put in place some new processes to insure that we live up to our promise to respond to folks in a timely way. The hope is that we won’t fall behind again no matter how many companies we meet. It won’t be perfect and there will still be glitches, but I hope you will continue to reach out as well as let us know when we need to do better.