Online Dating is the Future of Business

© 2014 David Teten. More at ffvc.com and teten.com http://www.flickr.com/photos/cali4beach/5447189098/in/photostream/

David Teten Partner, ff Venture Capital ffvc.com // @ffvc teten.com // @dteten New York, NY

Online Dating is the Future of Your Business

BTC Israel Conference February 6 2014

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ff Venture Capital (ffvc.com)

•  Early-stage technology venture capital fund •  Founded 1999, with over 200 investments in over 70 companies •  21 employees in Manhattan and Hoboken •  First investments typically $100-$500K at valuations of <$5m pre-money •  Follow on in later rounds for best-performing startups •  Prominent investments include:

Cornerstone OnDemand (IPO); Quigo Technologies (sold to AOL for reported $340m); Indiegogo; Klout; 500px; HowAboutWe

•  4 Israeli investments: CamSpace, GlucoVista, Omek (acquired by Intel), Quigo (acquired by AOL)

David Teten (teten.com) • Partner, ff Venture Capital, early-stage technology venture capital fund • Founder and Chairman, Harvard Business School Angels of New York . Co-

founded Venture Capital Access Program, introducing women and minority entrepreneurs to Harvard-affiliated angels

• Lead author of first-ever research study on best practices in private equity/venture capital deal origination

• Lead author of first-ever research study on best practices of venture capitalists in increasing portfolio company value through operational support

• Lead author, The Virtual Handshake: Opening Doors and Closing Deals Online

• Harvard MBA 1998, Yale BA, both with honors. • @dteten

© 2014 David Teten. More at ffvc.com and teten.com

Character – Competence – Relevance – Strength – Information – Number – Diversity


= D * ∑ (Chn*Con *Rn* Sn*In)

Network Valuation Formula

N

n=1 David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (www.TheVirtualHandshake.com)

Ch = Your Character Co = Your Competence R = Relevance of the relationship S = Strength of your relationship I = Information N = Number of people D = Diversity



Average Strength = Minutes Available / Person Number = # People therefore…

Balance of Strength and Numbers

Average Strength * Number = Total Minutes Available

vs.




David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (TheVirtualHandshake.com)


= D * ∑ (Chn*Con *Rn* Sn*In) N

n=1



How to grow Character before social media Social media…

How to grow Character in social media

Read the bible, or Stephen Covey.

expedites diligencing, particularly through reference-checking.

Know your every action is being analyzed.





Read Stephen Covey. expedites diligencing, particularly through reference-checking.






Read Stephen Covey. expedites diligencing, particularly through reference-checking.








n=1



How to grow Competence before social media Social media...

How to grow Competence in social media

Go to pedigree school, work for pedigree company.

creates and allows publicizing of recognizable, tightly defined credentials.

Teach yourself and get credentials online.



















Publish a book. expedites evaluation of work product.

Put your work product, or evidence of work product quality, online.

http://www.flickr.com/photos/keithspringer/5912990822/

















Study hard. makes you as smart as Google. Build skill in obtaining information online/via social networks.

http://www.flickr.com/photos/english106/4357228667/

















n=1



How to grow Relevance before social media Social media...

How to grow Relevance in social media

Go to conferences. Ask friends for introductions.

allows financial capital to substitute for social capital.

Use expert networks (Gerson Lehrman, Circle of Experts), online networks (LinkedIn), and other searchable networks.

http://www.flickr.com/photos/23439761@N03/3258313816/sizes/l/



















Look for the most attractive person in the crowd.

collects and disseminates more data, which allows wiser decision-making.

Use ranking systems to identify most pertinent people.

http://500px.com/photo/55794308



















Wear a T-shirt with a company logo.

allows you to be findable and therefore connect with more Relevant people.

Optimize your personal web visibility just as companies optimize their web sites for search engine visibility.



















Read the newspapers. saves you from wasting time on people who don't want to buy what you're selling.

Identify targets who are emitting sales signals.

http://www.flickr.com/photos/zoetnet/4851547572/



















n=1



How to grow Strength before social media Social media...

How to grow Strength in social media

Lots of meals and phone calls. makes people value their online interactions, and the more costly the better.

Ongoing social-grooming, e.g., following back people who follow you on twitter.

http://www.flickr.com/photos/alisdair/17303737/


















n=1



How to grow Information before social media Social media...

How to grow Information in social media

Enter all business cards diligently into your Rolodex.

places everyone online so you can track them down.

Use CRM system linked to social networks.


http://www.flickr.com/photos/renaissancechambara/3122900531/





















n=1



How to grow Number before social media Social media...

How to grow Number in social media

Meet people superficially. allows easy group-forming around common interests.

Networking is devalued; meeting and building actionable relationships matters more.

http://500px.com/photo/2906486 , http://500px.com/photo/1348476



















n=1



How to grow Diversity before social media Social media...

How to grow Diversity in social media

Restricted by time, space, and culture.

expedites creation of heterogeneous networks, but most people don’t take advantage of this.

Make yourself visible in multiple spheres pertinent to your interests, e.g. a SEO expert who blogs about SEO in various industries.

http://www.flickr.com/photos/vancouverfilmschool/6047447328/ , http://www.flickr.com/photos/vancouverfilmschool/6046899067/



















Restricted by time, space, and human desire for homogeneity.

Value of heterogeneous networks increases.

Make yourself visible in multiple spheres pertinent to your interests, e.g. a SEO expert who blogs about SEO.



= D * ∑ (Chn*Con *Rn* Sn*In)


N

n=1 David Teten and Scott Allen, The Virtual Handshake: Opening Doors and Closing Deals Online (www.TheVirtualHandshake.com)


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Technology

Online Dating is the Future of Business