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With Greathouse Comes Great Responsibility

InfoChachkie

On the first day of class, Professor Greathouse told his students, “Take a look around the class, these are the people you will most likely start a company with,” and boy was he right. Each week he brought in passionate and successful entrepreneurs to speak to his students and give advice about the different facets of creating a startup.

Class 231
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Are You an Entrepreneur?

InfoChachkie

Hint: He was an entrepreneur. The same is true of entrepreneurs. Entrepreneurship is so highly valued in the Western World that some people try to convince themselves that they are an entrepreneur, when in fact they would be better off at a Big Dumb Company (“BDC”). Entrepreneur Does Not Equal Inventor.

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How Boards Need to Evolve Over Time

Both Sides of the Table

And here’s an important point that I think modern entrepreneurs often forget: Investors are “co-owners” of your business. There are just as many bad entrepreneurs who do bad things. I should note that my friend Brad Feld has written a new book on the subject that I would recommend if you want the bible on the topic.

Startup 325
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Guerilla Marketing Fail – What I Learned From The Austin Police

InfoChachkie

Acrobatic ninjas, the Austin Police and several livid tradeshow executives – a perfect recipe for a reality television show, but not a great combination for Seth Epstein’s startup, Social Stay. You can watch my interview with Seth below or on YouTube here: [link]. To hear Seth verbally describe this enlightening story, watch the video.

Marketing 230
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Pour And Stir II – Managing Your Cost Per Customer

InfoChachkie

Some channels will be expensive but highly scalable, such as direct response radio, while others will be less expensive, but more difficult to scale, such as search and affiliates. In addition, you must consider your customers’ lifetime value by channel , as there can be a great deal of variance between various clusters of customers.

Customer 164
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Roping in the Legal Eagles

InfoChachkie

It is surprising how often entrepreneurs forget this simple fact. A startup-oriented lawyer may not be able to convince a jury of a guilty man’s innocence, but they can guide your adVenture through the menacing legal shoals it will no doubt face. As outlined in Beware the Consultant , be wary when selecting a professional services firm.

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VC Seed Funding is Dead, Long Live VC Seed Funding!

Both Sides of the Table

This posting was inspired by an email from Rajat Suri who wrote me an email in response to Chris Dixon’s blog post (link below) from August, which recently re-ran on Business Insider and has generated much Twitter chatter. I told entrepreneurs that it was a bit of a Faustian bargain. I was an early cynic.