Venture capital firms provide the much-needed funds for startups to get their businesses off the ground. In the current climate, there is an abundance of startup companies and all of them are vying with each other to get their hands on those funds.
This is why venture capital firms need competent individuals who can assess where their money should best go. If you want some of the best career prospects in the financial industry, here are five skills you need to get into venture capital.
Excellent Communication Skills
Aside from the obvious financial skills, venture capital companies are looking for individuals who are able to communicate their ideas effectively. Having the skills to make presentations is a definite asset, as you will need to provide them to the top executives. You will also need to be able to source deals on your own and this involves being able to talk and put across ideas.
Have a Degree
You have to stand out to have any chance of succeeding in venture capital. If you don’t have a degree, there’s little chance that you will even get an interview, as many candidates will have one along with relevant experience. The earning potentials are high, so any loan you take out to pay for your education will be worth it. You can take out loans from private lenders and use a student loan calculator so you will know what you can expect to pay back.
Entrepreneurship Experience
If you’ve had experience in being an entrepreneur yourself, you will be able to assess startups from a different perspective. You likely already know the key characteristics an entrepreneur should have, and possess them yourself. Companies want someone who knows what they are talking about, but most importantly able to understand a start up from an entrepreneur’s point of view. When you are assessing these new businesses, you will have an idea of what is successful and what is likely to fail.
Investment Banking Experience
Those who have had experience in investment banking will have a very similar skillset to those involved in venture capital. This makes someone with this experience highly desirable. The ability to communicate effectively and the ability to be able to source your own deals are essential and can be transferred from one industry to another. The knowledge of the investment world will also give you an edge in being able to assess whether companies are suitable for investment or should be avoided.
An Excellent CV
This goes for any industry but in such a highly competitive world, you have to stand out to make an impact. You must remember that recruitment will have seen thousands of CVs, many of which say the same thing. What you might think makes you stand out, probably doesn’t. If you see an area where you need to have more experience, go out and get it. Emphasize why your qualities are relevant and suitable for the industry. A poor or even a standard CV will not get you very far so make sure it is as good as possible.