1. Act in your portfolio company's best interests

As investors, we often come across companies whose products or services we would personally use. We get excited at the thought of obtaining them for free or at discounted prices if we choose to invest in the company. From requesting free lifetime subscriptions to skipping waitlists to get the latest products, I’ve seen investors request for anything and everything under the sun — and even to go as far as to include it in contracts.

My take on this is simple: company and customers come first before investors.

I have also noticed that some investors lobby for advisory shares before they are willing to become board members or investors in the company. Entrepreneurs, beware. The investment community frowns upon creating separate classes of investors where some benefit more than the rest do.

Your best supporters are the ones who share your vision, and not just because they are getting special treatment on the side. It needs to be in fair balance.

2. Be prompt, clear and consistent in your communications

 A constant complaint that entrepreneurs have is that VCs never get back to them. With the exception of rare events, the VC is to be blamed in most cases. I admit, I have been guilty of this at times. Therefore, I’ve implemented a 48-hour rule for myself: get back to everyone within that time frame, even if their project is not in line with our company needs. Of course, I expect the same of entrepreneurs in return.

Many entrepreneurs I have met are lifelong optimists. That’s why they have the boldness to pursue their dreams. But this sometimes translates to seeing a positive twist in every conversation, including funding conversations with VCs. “Maybes” become “yeses”. “Let’s check in after three months” becomes “my wire will show up in three months.”

What we can all benefit from is precise, clear language that does not leave room for interpretation. VCs – including myself – must be more aware of our communications and make sure our positions are crystal clear.