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Techstars LA, the startup accelerator headed up by Matt Kozlov, announced its 2021 class this week, drawing an international group of twelve new companies to its startup accelerator in Culver City. Companies this year in the program come from as far as Canada, India, and Ukraine.
The message I hear publicly from most entrepreneurs is that you have to think outside the box and take big risks to ever beat the odds and be among the less than ten percent that experience real success. Serious entrepreneurs will privately admit the business is first, and the family second. All risks are not the same.
In my role as advisor and mentor to many new entrepreneurs, I often find myself suggesting that they think bigger. We all are excited to hear real innovation, and struggle daily to increase every potential entrepreneur’s scope of thinking. For example, smart entrepreneurs look for recognizable patterns in disconnected domains.
In my role as mentor to many of you aspiring entrepreneurs, I often find you convinced that all you need to start is a unique innovation or idea , and now you are ready to jump in with both feet and enjoy the ride. Remember that being an entrepreneur is all about starting and running a business, after the initial invention.
Based on my experience as a business advisor, I’m convinced that most startup investors invest in the entrepreneur, as much as a solution or product. The attitude of taking nothing for granted, of disbelieving the conventional wisdom, of challenging the way things are done, is essential for a winning entrepreneur.
In my role as mentor to business professionals, I often get the question about your potential of going out on your own as an entrepreneur, versus your current role of working for a boss at an established company. If you enjoy wearing many different hats and are constantly learning new skills, you will get more satisfaction as an entrepreneur.
When you see startups like SpaceX and Pinterest grow from a low valuation to a billion dollars in just a few years, it’s easy to assume that if you just keep doing what you are doing, you can get there as well. Of course, that means a mindset willing to give up much more equity, and taking on a whole new level of risk.
What are you most looking forward to in the technology/startup world in 2021? For the tech/startup ecosystem in SoCal, I am looking forward to continued momentum in addressing Diversity, Equity and Inclusion in the workforce and support for emerging entrepreneurs.
Most aspiring entrepreneurs I know are just waiting for that unique idea to strike them that will kickstart their new venture, put them in control of their lifestyle, achieve financial independence, and maybe even change the world. Timing is critical for every startup. Of course, if you wait for the perfect time, you may never start.
As an advisor to many startups today, I still see that most of you entrepreneurs see yourselves as the sole driver of your new solution, and the key driver of your new business. As your business grows from a startup to a sustainable business, you too have to grow from an entrepreneur to a business leader.
E-commerce is booming, but among the biggest challenges for entrepreneurs of online businesses are finding a place to store the items they are selling and dealing with the logistics of operating. There are no leases and tenants have the flexibility to scale up or down based on their needs.
When someone says Intellectual Property (IP), most entrepreneurs think only of patents. You need all these before you start looking for funding. The company name becomes your intellectual property at the moment you incorporate your startup as an LLC or a Corporation. Here are the key elements: Company name. Trademarks.
In response to VCs’ sudden rush to invest in more Black founders , Black venture capitalists and entrepreneurs have penned a bunch of advice on the best way to tap into talent. Team up with Black firms already doing the work. The program is expanding to Chicago in 2021, the blog post notes. Among the strategies?
As an entrepreneur mentor, my mission is to foster the attributes in you as a startup founder that I believe will lead to success. For example, I worked with an entrepreneur a while back who was clearly intelligent, had a great idea, and communicated well. Start today. The ability to make timely and fact-based decisions.
Saturday, May 8, 2021 -- LAVA: First Time Entrepreneur Training Seminar. His practice revolves around startups, securities and mergers and acquisitions. Speaker: Matthew Crowley, Crowley Corporate Legal Strategy. Matthew Crowley is a former president and board member of LAVA.
Just weeks after Canoo took the wraps off of its electric vehicle , the Los Angeles-based startup and co-founder Stefan Krause has been accused of gender and marital discrimination, harassment, breach of contract, and wrongful termination in a lawsuit filed Tuesday. The first cars are slated to appear on the road by 2021.
Constance Curtis , the Founder and CEO of The List (www.getthelistapp.com), thinks so, and tells us about her startup's efforts to bring the world of matchmaking to the modern worldand how her own frustration with online dating let to her startup. With matchmaking, you hire someone to do everything for you, setting you up for dates.
Wednesday, July 28, 2021 -- Viterbi Startup Garage Oceanside Chat. Most startups come to early stage VCs and angels woefully unprepared for equity funding. What will successfully garner you non-dilutive financing is not the same as what makes a startup a venture fundable opportunity.
In my experience as an angel investor for new startups, I’m always surprised by how many entrepreneurs are looking for funding without outside advisors. An experienced Board can give them credibility, as well as advice on the many pitfalls of starting a new company. Key board members multiply your networking efforts.
In my view, starting a new business has never been easier, and according to reports from the Kauffman Foundation , the numbers are here to show it. The rate of new entrepreneurs increased between 2013 and 2021, from 280 to 360 out of 100,000 of the adult population. Establishing your brand with interactive social media.
On Lafayette Street in SoHo, young, fashionable women lined up around the block to enter a minimalist, millennial oasis, the most perfect Instagram feed brought to life. After all, Glossier’s founder and CEO Emily Weiss is very, very far from the first entrepreneur to profit off of our desire to look good. And who cares?
Wednesday, June 23, 2021 -- Viterbi Startup Garage: Oceanside Chat: Cleantech 2.0: What Every Entrepreneur Needs To Know. Who: Aaron Fyke (Founder and Managing Partner of Thin Line Capital). See [link] (more)
As an advisor to many entrepreneurs, I still hear frequently the irrational exuberance that crowdfunding is the quick alternative for startups that are passed over by overly demanding angels or venture capital investors. Startups need to build a large passionate group of fans before the campaign. Startup revenues come later.
Many of the startup investors I know are disappointed that so few of the startup ideas they see are really innovative or disruptive. That ability to “ see around the next corner ” seems to be limited to a very few entrepreneurs, such as Steve Jobs and Elon Musk. Don’t give up on your dream after the first setback.
In the eyes of investors like me, to be an entrepreneur, it’s not enough to create an innovative solution – you need to convince me that you can build a profitable business. Great entrepreneurs like Elon Musk are always talking about their next venture to another planet, underground transportation, or electric vehicles.
In a year filled with challenging news, we were fortunate (across Archer Venture Capital and Liquid Stock) to have some high quality exits in our portfolio, but moreover to see how our amazing entrepreneurs successfully managed the disruption caused by COVID-19. What are you most looking forward to in the technology/startup world in 2021?
Every entrepreneur and every business I meet in my consulting and mentoring role has great intentions of bringing real innovation to the market, yet I find that most ideas are merely small extensions to existing solutions. On the other end of the spectrum, entrepreneurs are quick to propose one more feature that they can do easily.
The passage of the law has unlocked a wave of entrepreneurial energy as startups look to build things that can make money and solve a real problem for the state — and eventually — the nation. “ What was important to me was creating affordable housing,” said United Dwelling founder and chief executive Steven Dietz.
As a business adviser, I still see too many new venture founders who skimp on their marketing focus, or start too late. You really need to start marketing your solution before you even build it, to validate the need, and keep your focus on the features that customers really want and need.
With the advent and growth of crowdfunding over the past few years, many entrepreneurs have predicted the demise of those demanding angel investment groups and venture capital organizations. Have you ever wondered what professional startup investors think about all this? Lack of checks and balances on startup valuations.
As a long-time advisor to new entrepreneurs here in the USA, I’ve long been impressed with the number that come here from other countries, and the positive traits that most of these seem to bring with them. People starting with nothing in this country expect to have to work harder and longer to get ahead.
I often wonder whether you as the entrepreneur have worked as hard on your pricing strategy as you have on your innovative solution. This pricing strategy started primarily associated with buffet restaurants, but the concept has now been applied to many other businesses. Marty Zwilling First published on Inc.com on 04/28/2021.
Unfortunately, most of us don’t have enough resources to bootstrap our own startups, so we are completely dependent on investors to help turn great ideas into great businesses. Investors love entrepreneurs who come across as constantly on the lookout for new ideas, and able to grasp the larger implications for market change.
Based on my own years of experience in startups and big business, and more recently as an angel investor, I often cringe when I see one of you entrepreneurs missing a cue that I have seen work for many before you. I find that good entrepreneurs always find ways to keep their project moving forward, in good times and in bad.
Over my years as an advisor to new businesses and startups, I have learned that the only certainty that I can offer entrepreneurs is the fact they will face many uncertainties. So my first advice is that if you can’t handle uncertainty, don’t even start down that road. Marty Zwilling First published on Inc.com on 05/27/2021.
In 2018, co-founders Schuyler Deerman and James Chan started selling healthy meals at WeWork offices around Los Angeles out of giant Yeti coolers, standing around the kitchens during lunch time. “At Nestlé acquires healthy meal startup Freshly for up to $1.5B. Positive Food Co.,
The recent pandemic was a strong signal for change, and I see most of you entrepreneurs and business owners responding to the business changes required and new opportunities presented. It may be time to start your own home delivery service, or subscription offering, or time to acquire a struggling competitor to scale your business.
Most startups, and many big businesses, still don’t have a clue on how to use social media productively for marketing their business. The next thing that entrepreneurs need to realize is that the process and framework for making social media marketing work are different from traditional marketing, and trial and error certainly doesn’t work.
Investors often chalk this up to inbred charisma or charm, but I’ve often wondered if could be a learned skill. Entrepreneurs who think they can “wing-it” with investors through natural salesmanship are rarely successful. In the world of new entrepreneurs, giving your pitch twenty-one times before success is not unusual.
Most of the entrepreneurs I meet as an investor and advisor have no shortage of right-brain thinking, showing vision and creativity, but often don’t realize that their potential is being limited by a balancing focus on results, metrics, and customer specifics. Keep up with the curve, but don’t get too far ahead.
Today, we have Brian Mac Mahon of startup accelerator ExpertDojo (www.expertdojo.com). I believe that most of our success came from startups resonating with our message to build big, fast. What are you most looking forward to in the technology/startup world in 2021? We'll be posting these throughout the next two weeks.
As a logical and data-driven business advisor, I have long focused on facts, technology, and quantifiable pain in guiding entrepreneurs. Other startups use technology to provide personalized products to all customers. Other studies have shown a return of up to 400 percent for this approach.
With the ITRC 2021 End-of-Year Data Breach Report revealing a 68 percent increase in stolen sensitive personal information, there is a growing population out there worried about all the people intent on hurting them. That challenge is a major business opportunity, as well as a risk, for startups. Don’t take shortcuts on these.
We made 7 investments in SoCal founders in our first year (out of 8 total), and even the 1 exception has deep SoCal ties and we hope to relocate her here in 2021. We know that California has seen some criticism for a variety of reasons, but we're believers that SoCal's next decade will be an incredible one for innovation and entrepreneurs.
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