I’ve been coaching a lot of non-partner VC professionals and their number one challenge (besides taking obligatory meetings that their GP throws over the fence at the last minute—GPs, why do you do this? Stop wasting your team’s time and a founder’s time. Just pass when you think it’s a pass.) is trying to figure out how to get in front of the best founders with a title like Senior Associate or, potentially worse, Investor, which everyone assumes means Senior Associate.
Don’t get me wrong. There are very smart, likable, and helpful people in these junior roles—but compared to a partner, if you’re on the Associate level, you have no juice when it comes to getting a deal done. As a Principal, you have some juice. As a Principal at First Round, I got nine deal approvals in two years—but it was a lot more work for me than it would have been for one of the partners.
Even if your firm does allow you to lead or you were instrumental in a deal getting over the line last year, it’s actually better to act in such a way that everyone’s assumption is that you can’t lead. This way, you can challenge yourself to come up with another reason for a top founder to meet with you than as a conduit for capital.