This post from Christian Mayaud points to an interesting cheat sheet for newbie VCs from Fred Dotzler of De Novo Ventures that provides useful information for the rest of us as well, especially point 10. The short version follows:
1. Generate deal flow.
2. Keep an open mind.
3. Follow the money.
4. Learn how to identify great people.
5. Be rational on terms of investment.
6. Be patient with startups.
7. Keep track of cash balances.
8. Spend time every week working on all your portfolio companies.
9. Don’t get too high on good news.
10. Treat everyone with fairness and dignity.