When any of us in the community help a VVM startup, we do so as a volunteer activity knowing that our payback is what we learn in the process and the thrill of impacting the entrepreneur’s life. We don’t solicit the entrepreneurs for business.
But what if both you and the entrepreneur (currently enrolled in a VVM program) want to change your relationship to a commercial one, AKA anything that involves money/equity changing hands now or in the future?
If that should happen, VVM mentors and startups need remember one simple rule: do no harm. To that end we require that the entrepreneurs currently enrolled in our program disclose to VVM that they would like to change their relationship with you to a commercial one. A lot can go wrong for mentors and entrepreneurs when relationships change like this. I, and others from VVM, will bring neutral advice on how to avoid some common pitfalls.
Why? Because we want everyone to feel awesome a year later, no matter what curveballs life throws us :).
And while this is only required for startups currently enrolled, we welcome alumni startups and mentors to feel free to reach out to us if we can be helpful!
Thank you for being a part of our community!