As a result of the Blackberry Partners Fund, we've been spending lots of time reviewing opportunities side by side with another VC. This is happening here (North America), Europe and in Israel for us.  As part of this side by side stuff, I've gotten to see lots of other VCs, most smarter than me, up close when it comes to reviewing presentations, speaking to the management teams, etc.

Here is one tip for you and your meetings with the VC world. Sometimes there are questions that you just know are actually minefield laden, third rail, bad places to be.

For example, this set:

"Help me understand how the current management team gets the company to 50 million a year in revenue?"

"Do you think you and your team are strong enough to get it over the finish line?"

"What's the track record of your management team with respect to successful exits?"

All of these are code for: "Who's the CEO?"

I've said it before and I'll say it again:

Your best positioning when you are starting a company is to start with and keep the title of founder. You get the maximum flexibility in dealing with company growth and minimal impact on your ego.  You can answer any of the above with "Look, I'm the founder and we're running a million miles an hour towards being successful as you can see here... The objective is to find a financial part and a solid board to help me, as the founder, grow the management team and knock this baby out of the park"

This, of course, assumes you believe that statement.  If you think you know it all, view the VC world as just another electronic teller machine ripe for a withdrawal, don't come knocking.  More on this later, meetings are about to start.