Startup Professionals Musings

SEPTEMBER 23, 2020

A continuing question I hear from young entrepreneurs is whether a university degree is important to startup success, or just a distraction in achieving their purpose in the world. He learned quickly that several pivots were required for business, legal, and customer acceptance reasons. Learning by doing is the only way to go.

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Startup Professionals Musings

FEBRUARY 4, 2022

It’s a special mix of entrepreneur and company, regular in every respect except for having the courage and foresight to make an idea happen that was supposed to be impossible. As an entrepreneur in a startup, how do you know if you have this potential, and what are the steps to get from an innovation to a revolution?

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Both Sides of the Table

MARCH 29, 2014

One of the hardest things for most entrepreneurs to know is how hard to push in situations where people tell you “no.” ” But then again most entrepreneurs fail. I’d say less than 20% of of entrepreneurs fit into that bucket. ’ “ In fact, NO is the one word that no entrepreneur should accept.

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Startup Professionals Musings

JULY 31, 2020

As an angel investor in startups, I’m a believer that smart investors invest more in you as the entrepreneur than the next billion dollar solution you are pitching. I’m not looking for words, but examples of how your habits and attributes have produced results, even before your startup. Highlight your growth and continuous learning.

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Startup Professionals Musings

FEBRUARY 5, 2020

As a mentor to entrepreneurs, I tend to see many of the same obstacles appearing in every new startup, and since I don’t want to appear to be a downer , I’m not sure how to properly warn people ahead of time to be on the alert for these challenges. Funding is depleted before customer sales ramp up. The world today never stands still.

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Startup Professionals Musings

MAY 18, 2022

Here are some key insights that I and others have collected for mature company leaders, as well as serial entrepreneurs. Unfortunately, in this new age of rapid market change and harder-to-satisfy customers, you can’t assume that what worked yesterday will work tomorrow. If you like it, so will all your potential customers.

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Startup Professionals Musings

FEBRUARY 17, 2021

It wasn’t so many years ago that starting a new e-commerce business on the Internet was a complex custom development project, usually costing a million dollars or more. For example, if you have no technical background, you probably can’t create or sell an enterprise software product for a low price, even today.

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Both Sides of the Table

DECEMBER 27, 2011

” I mention journalists here because they perpetuate the myth that focusing on profits is ALWAYS the right answer and then I hear many entrepreneurs (and certainly many “normals”) repeating the same mantra. I have had this discussion with many a first-time entrepreneur. For example, look at the following graph.

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Startup Professionals Musings

JULY 11, 2020

As a mentor to aspiring entrepreneurs, I’m always surprised by the fact that some never seem to be able to that first startup going, while many others never seem to stop, starting their second or third initiative before the first one is fully hatched. I’m now convinced that serious entrepreneurs relish the startup process more than success.

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Startup Professionals Musings

JANUARY 5, 2020

As an advisor to entrepreneurs, I find that I often have to remind them that the world of customers has changed since they started their last business. Pushing yourself on customers by touting features and price doesn’t work anymore. Use analytics to see why customers are buying, as well as what.

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Startup Professionals Musings

MARCH 26, 2021

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. Unfortunately for them, building a business is all about implementation.

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Startup Professionals Musings

SEPTEMBER 2, 2020

Out of curiosity, I often ask aspiring entrepreneurs like you, who come to me for help, what drives them to take on the workload and risk of a new startup. I ask every entrepreneur to first take a hard look inside for one or more of the following key intrinsic drivers, before they start: Satisfy a driving need to be in control of their life.

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Startup Professionals Musings

MAY 15, 2023

Entrepreneurs have always believed that their product or service must show real value to customers, but today the smart ones are even able to make their marketing valuable. Now customers seek out people who are willing and able to add value, with expertise and insight, even before they have a product. The key is consistency.

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Startup Professionals Musings

JUNE 3, 2020

Most of you aspiring entrepreneurs have new ideas on a regular basis, and find it hard deciding which to pursue, or try to tackle several at the same time. In addition to personal focus, I find that the best entrepreneurs build and demand a culture of focus and excellence in their team, their investors, and even their advisors.

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Both Sides of the Table

FEBRUARY 9, 2014

I often talk about what I’m looking for when I meet with an entrepreneur. Above all else I’m looking for a genuine passion for what the entrepreneur is doing. You need a great concept in which you will build something that is truly unique and that will be valued by your customers. I fall in love with entrepreneurs.

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socalTECH

MARCH 28, 2019

Earlier this month, the annual Montgomery Summit conference was held in Santa Monica, including a special portion of the conference dedicated to the Rise of the Female Entrepreneur. I see you were involved in the Rise of the Female Entrepreneur effort at the Montgomery Summit this year, tell me a little about what that is all about?

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Startup Professionals Musings

NOVEMBER 20, 2022

As a startup advisor, I see too many entrepreneurs get distracted by technology or their favorite cause, and then wonder why they can’t find an investor, attract customers, or build a long-term business. Customers now put big value on experience, social impact, empowerment, and feedback.

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Startup Professionals Musings

NOVEMBER 11, 2020

The road to becoming an entrepreneur is a journey , and it’s not a short trip. I was pleased to find a new book, “ The Entrepreneur’s Faces, ” by Johnathan Littman and Susanna Camp, which outlines the key stages and provides examples of real people making the transformation from one stage to the next.

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Startup Professionals Musings

JULY 1, 2020

Every entrepreneur I know finds it a challenge to balance the joys of entrepreneurship against a set of frustrations they never anticipated. Of course, most of you expect that raising money will be difficult, as well as staving off competitors, and handling that occasional toxic customer.

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Startup Professionals Musings

MAY 23, 2022

New entrepreneurs tend to focus only on getting the product right, and assume that the right culture and ethics will come later simply by hiring good people. For example, people often do not automatically know that they are facing an ethical choice. Ethical decisions are seldom simple. We’ve never broken the law so we must be ethical.

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Both Sides of the Table

OCTOBER 26, 2020

So mostly we just had to listen to customer feedback from founders, VCs and LPs. Kara will now be really involved with what goes on to successfully create and run a firm but while still handling her core duties of funding great entrepreneurs. He launched our scout program as an example. Does This Mean You’re Retiring?

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Startup Professionals Musings

FEBRUARY 21, 2020

Many of the entrepreneurs I advise or invest with spend considerable time on the Internet, keeping up with technology, customers, and competitors, but very few feel the need for an early personal presence. Every future entrepreneur should start by networking. Consistently review and respond to relevant online feedback.

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Startup Professionals Musings

JUNE 25, 2021

It seems like everyone wants to be an entrepreneur and get rich these days. As an example of a good resource, I enjoyed the classic book, “ Idea To Invention ,” by Patricia Nolan-Brown, that does a great job on the key steps. Ask some potential customers to see if there is real interest, and start thinking about price versus cost.

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InfoChachkie

OCTOBER 20, 2014

Want to be an entrepreneur? In addition, Entrepreneur Magazine recently included UCSB in its Top 50 Schools For VC Backed Entrepreneurs at number 37. The TMP is an example of lean academia. Salty Girl Seafood - Another focus of the TMP is the recruitment and mentoring of women entrepreneurs. Organic Academia.

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Startup Professionals Musings

FEBRUARY 13, 2021

In my role as advisor and mentor to many new entrepreneurs, I often find myself suggesting that they think bigger. For example, I’m not sure the world needs one more social media niche site, or another dating site, or yet another flavored drink alternative. Communicate and market your solution to the max.

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Startup Professionals Musings

MAY 15, 2020

For example, I usually hear about an aggressive marketing budget, with a plan to penetrate a few big retail chains, and some videos to catch your attention on YouTube. What I want to hear is an innovative marketing and growth strategy that will set you apart in the minds of investors, as well as customers.

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Startup Professionals Musings

FEBRUARY 27, 2023

Most aspiring entrepreneurs look to their alma mater, or any university, as a source of classes that can help them, but neglect to think outside the box or take advantage of all the other resources to be found there. Access to entrepreneurs-in-residence, business mentors. Access to intellectual property and current research.

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Startup Professionals Musings

APRIL 4, 2020

As an entrepreneur advisor, I am surprised at how often I hear the same or very similar proposals of an incremental innovation to an existing process, versus a really new or breakthrough solution. But we all know that these are not solutions by themselves, but require integration into an innovative framework to solve real customer problems.

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Startup Professionals Musings

JUNE 26, 2020

As an advisor to new hardware entrepreneurs, I often hear the myth that a business plan is no longer required to find an investor, if your idea is good enough. What you don’t realize is these famous investors only deal with entrepreneurs who sold their last company for a $100M dollars or more. and trademarks.

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Startup Professionals Musings

AUGUST 3, 2020

For example, both need to provide exemplary customer service, build customer loyalty, and provide real value for a competitive price. If you don’t have a high level of commitment and passion, you customers won’t seek you out. Customers can touch and see a great product, but services are a bit ethereal.

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TechCrunch LA

MAY 23, 2019

“We feel over the next couple of years, we’ll start to see repeat entrepreneurs come out of these LA companies. Ho cited an investment in WeeCare , a startup that helps people launch curriculum-based home daycares within their own homes, as an example. “ I’ve watched the ecosystem grow over the last two decades.”

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Startup Professionals Musings

AUGUST 15, 2020

Young entrepreneurs often are so excited by new technology or their latest invention that they forget to translate it into a value proposition that their customers or potential investors can understand and relate to. Customer data integrity and security. This priority applies to big companies, as well as startups.

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Startup Professionals Musings

SEPTEMBER 19, 2022

Every entrepreneur believes that their product or service is memorable, and that every customer will quickly see the advantage over competitors. Yet true product differentiation in the eye of the customer is rarely achieved. Quantify the difference for your customers. Trying to be all things to all people never works.

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Startup Professionals Musings

FEBRUARY 14, 2022

I see more and more entrepreneurs who seem to have everything going for them – vision, motivation, passion, even a good business plan, product, and money, and yet they can’t close customers. Great businesses begin with a customer problem that has a big and monetizable pain point. Nail the solution. Nail the business model.

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Startup Professionals Musings

SEPTEMBER 4, 2021

Every entrepreneur wishes that he could predict whether his idea could be the “next big thing,” before he spent his life savings and years of energy on it. Investors, on the other hand, typically don’t even look very hard at the product or service, but prefer to evaluate first the entrepreneur, and secondly the business plan.

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Startup Professionals Musings

MARCH 15, 2021

I just finished a new book, “ Backable ,” by Suneel Gupta with Carlye Adler, which solidifies my belief than anyone can learn to be perceived as more credible and persuasive, and it’s a skill that every entrepreneur and business professional needs to master. An example is the shift to working from home, caused by the pandemic.

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Startup Professionals Musings

MARCH 3, 2021

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. A passionate entrepreneur I met a while back had found that a certain algae could be grown cheaply, and could end world hunger.

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