Startup Professionals Musings

SEPTEMBER 21, 2018

If you are one of the thousands of entrepreneurs who need equity funding to get your startup going (no loans to repay), you are probably overwhelmed at the prospect of finding, contacting and pitching to the huge number of qualified angels and investment groups around the country. Collect target customer testimonials and advocacy.

Platform 94

Platform Equity Invest Technical Advisors 94

Startup Professionals Musings

NOVEMBER 22, 2020

One of the biggest myths I have found in the entrepreneur community is that every startup needs one or more outside investors for credibility and success, and perhaps is even entitled to at least one. Searching LinkedIn, for example, is a must for contemporary entrepreneurs. Identify customer executives who need your solution.

Funding 173

Funding Tips Startup Statistics 173

Startup Professionals Musings

AUGUST 9, 2023

When entrepreneurs introduce new products to the market, their passion and conviction often leads them to assume that every potential customer will see the immediate need and value, and will quickly adopt the solution. If your solution alleviates a high level of existing pain, customers more readily change.

Case Study 89

Case Study Custom Customer Study 89

Both Sides of the Table

APRIL 19, 2011

Or read the quick, informative summary below the image! He is very hands-on and helpful – especially for any company looking into customer acquisition. Matt’s commitment to re-investing in tech startups is reminiscent to this great Fred Wilson post of “recycling capital. &#. That was a quick meeting!!

Acquisition 304

Acquisition Startup Customer Custom 304

Startup Professionals Musings

NOVEMBER 15, 2020

When entrepreneurs introduce new products to the market, their passion and conviction often leads them to assume that every potential customer will see the immediate need and value, and will quickly adopt the solution. If your solution alleviates a high level of existing pain, customers more readily change.

Case Study 174

Case Study Startup Custom Customer 174

Startup Professionals Musings

FEBRUARY 15, 2023

It’s equally easy to go online and incorporate your new entity, register some intellectual property and have some fun with social media for marketing and interacting with customers. Here are the key principles I recommend as an advisor to many entrepreneurs: Start your business in your own home. Practice living on a shoestring budget.

Equity 139

Equity Social Media Startup Summary 139

Startup Professionals Musings

JANUARY 24, 2021

For the elite startups and entrepreneurs who manage to attract the investor they dream of, and survive the term sheet negotiation, there is still one more hurdle before the money is in the bank. Due diligence always involves on-site visits, informal discussions with any or all members of the team, vendors, and good customers as well as bad.

Technical Review 151

Technical Review Startup Satisfaction Invest 151

Both Sides of the Table

SEPTEMBER 12, 2010

“Hi [entrepreneur], I hope all is well. It's big, well known & we've invested in all of these really cool companies]. I know the firm well and I know the entrepreneur & his business well. There is no chance they’re going to invest and it’s not even a close match. What fits your schedule?

Venture Capital 294

Venture Capital Entrepreneur Email Equity 294

Startup Professionals Musings

AUGUST 18, 2014

Most technical entrepreneurs I know demand the discipline of a product specification or plan, and then assume that their great product will drive a great business. Serious investors, on the other hand, look for a professional business plan or summary first, and hardly ever look at the product plan. Marty Zwilling.

Product 101

Product Entrepreneur Summary Activity 101

Startup Professionals Musings

JUNE 30, 2021

By definition, all of you entrepreneurs are leaders, by taking the initiative to start a new company. Most investors will readily admit that they invest in entrepreneur leadership, more so than innovative ideas, but they often find it difficult to separate aspiring leaders from those that are clearly extraordinary.

Coach 162

Coach Startup Resource Competition 162

Startup Professionals Musings

JUNE 26, 2021

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. With the advent of the internet, every opportunity is global, since every customer can see you from anywhere in the world.

Startup 146

Startup Resource Summary Entrepreneur 146

Startup Professionals Musings

JULY 30, 2022

Perhaps sparked by the recent pandemic, I’m seeing a new era of the entrepreneur, with startups springing up all around. Based on my own mentoring and investing experience, the best entrepreneurs are pragmatic problem solvers. Listen to your customers to arrive at acceptable and marketable solutions.

Startup 135

Startup Mentor Entrepreneur Technical Review 135

Startup Professionals Musings

JULY 23, 2023

Your concept has to be understood by customers and investors in 30 seconds or less, and everyone needs to immediately see how awesome it would be, or that they would be nuts not to have it. I’m looking for the “hook” right up front, or I lose interest quickly, just like every customer and investor these days.

Startup 96

Startup Education Ideas Custom 96

Startup Professionals Musings

AUGUST 23, 2014

Sometimes entrepreneurs are so focused on making change happen for others, that they forget that continually changing themselves and their company is equally important. Here is a summary of recommendations from both of us, based on my own business mentoring insights: Re-launch using your enhanced core competency.

Entrepreneur 105

Entrepreneur Technical Review Mentor Summary 105

Startup Professionals Musings

MAY 18, 2020

It’s equally easy to go online and incorporate your new entity, register some intellectual property and have some fun with social media for marketing and interacting with customers. Here are the key principles I recommend as an advisor to many entrepreneurs: Start your business in your own home. Practice living on a shoestring budget.

Social Media 169

Social Media Startup Equity Summary 169

Startup Professionals Musings

JANUARY 27, 2020

As an aspiring entrepreneur, one of the most important things you need is a memorable “ elevator pitch ,” to communicate your startup value proposition and leave a great first impression on friends, investors, employees, and future customers. Customers think about alternatives, and investors worry about competitors.

Sample 127

Sample Summary Startup Slides 127

Startup Professionals Musings

SEPTEMBER 24, 2014

Many new entrepreneurs are so excited by their latest idea that they can’t resist contacting every investor they know, assuming the investor will be equally excited and want to contribute immediately. If you haven’t yet finalized the business model, cost projections, and customer segments, you aren’t ready for investors.

Entrepreneur 119

Entrepreneur Technical Review Statistics Startup 119

Startup Professionals Musings

NOVEMBER 4, 2020

Your concept has to be understood by customers and investors in 30 seconds or less, and everyone needs to immediately see how awesome it would be, or that they would be nuts not to have it. I’m looking for the “hook” right up front, or I lose interest quickly, just like every customer and investor these days.

Startup 166

Startup Education Ideas Custom 166

Startup Professionals Musings

NOVEMBER 4, 2011

A conundrum for many frustrated entrepreneurs is that they need money from investors to design and build a prototype product, yet most angel investors expect to see at least a prototype before they invest. Build an investor presentation and summary. Remember to aim the content of both of these at investors, not customers.

Invest 99

Invest Angel Technical Review Summary 99

Startup Professionals Musings

SEPTEMBER 8, 2023

Most entrepreneurs, and members of any small team, naively assume that the key to their success is hard work, dedication, and long hours in the business. It behooves all entrepreneurs and team members to recognize the positives and negatives of each type of relationship. That’s why investors say they invest in people, not ideas.

Mentor 91

Mentor Competition Summary Coach 91

Startup Professionals Musings

AUGUST 8, 2016

As a startup advisor and investor, I find that more and more entrepreneurs avoid using the term “profit” in pitching their new venture. Of course, I understand and don’t condone bad actors who get greedy, and exploit ways to unjustly squeeze customers and employees. Solve a painful problem for customers who have money to spend.

Entrepreneur 58

Entrepreneur Ideas Pricing Customer 58

Startup Professionals Musings

FEBRUARY 8, 2016

Successful entrepreneurs understand the difference between a good business relationship with more people and having more friends. In the world of entrepreneurs and startups, professional relationships are critical. You need business partners, investors and customers. You can’t start a business with friends alone.

Entrepreneur 66

Entrepreneur Social Network Technical Review Social Media 66

Startup Professionals Musings

APRIL 18, 2021

This is the last step of the process, where surprises in the evaluation of the management team, documentation, and personnel problems can derail the investment. If there are financial anomalies, or someone on the team doesn’t know the current strategy, or is unhappy with you or the company, the investment will be jeopardized.

Technical Review 152

Technical Review Satisfaction Startup Summary 152

Startup Professionals Musings

DECEMBER 18, 2022

Many new entrepreneurs are so excited by their latest idea that they can’t resist contacting every investor they know, assuming the investor will be equally excited and want to contribute immediately. If you haven’t yet finalized the business model, cost projections, and customer segments, you aren’t ready for investors.

Technical Review 109

Technical Review Startup Statistics Social Media 109

Startup Professionals Musings

MAY 6, 2012

One of the best summaries I have seen is a recent book by Bill Murphy, Jr., titled “ The Intelligent Entrepreneur ,” which outlines the ten rules of successful entrepreneurship, as follows: Make the commitment. Problem solvers make successful entrepreneurs. In a startup, the entrepreneur leader has to do two things.

Entrepreneur 123

Entrepreneur Startup Ideas Summary 123

Startup Professionals Musings

AUGUST 6, 2016

Contrary to popular opinion, viral marketing has not eliminated the need for old-fashioned lead generation to bring customers to a startup. Here is my summary of the seven most successful lead-generation vehicles he and I still recommend today, despite the popularity of viral marketing: Search-engine marketing. Display advertising.

Custom 60

Custom Customer Marketing Social Media 60

Startup Professionals Musings

SEPTEMBER 14, 2022

With the current volatile economy, as an active startup mentor, I’m seeing a new surge of entrepreneurs and startups, with the commensurate scramble for funding. This approach is thus not viable for entrepreneurs already out of money. Increased jeopardy and less fun for the entrepreneur. Yet reverse mergers are not all bad.

Funding 104

Funding Summary Entrepreneur Acquisition 104

Both Sides of the Table

OCTOBER 17, 2019

At Upfront, our partners have been fortunate enough to be part of 18 companies that have reached north of $1 billion and the average tenure of an investment that exits at this scale is more than 10 years. We have invested in every round and as a result our ownership has actually gone up over time.

Venture Capital 223

Venture Capital IP Startup Google 223

Both Sides of the Table

MAY 19, 2018

Your historical trading information including financials and a “customer file” which shows the history of your transactions so that investors can run “cohort” analyses Customer reference, personal references, key team members, compensation, cap table, stock option plan, etc. Some people find this elitist?—?I It doesn’t.

Funding 336

Funding Venture Capital Startup Email 336

Startup Professionals Musings

JUNE 9, 2023

For example, if you are an entrepreneur seeking investment or a cofounder, there is no substitute for networking at industry and startup conferences in your area. If you are an introvert like me, this may be difficult, but remember that your business needs collaboration with partners and vendors, as well as good customers.

Networking 104

Networking Mentor Conference Summary 104

Both Sides of the Table

FEBRUARY 22, 2015

What Cham rarely tells people – he’s both private and humble – is that he started making some small co-investments with me in tech firms starting with Maker Studios where he was one of the earliest investors. We’ve been debating various business concepts he has and what it would take to build them.

Conference 150

Conference Slides Social Media Summary 150

InfoChachkie

JUNE 27, 2011

I recently answered the question “ What are good ways to raise your children to be entrepreneurs? ” I believe that you cannot teach someone to be an entrepreneur, but that you can teach entrepreneurs. Plot Summary. Every entrepreneur is faced with making something out of nothing.

Entrepreneur 270

Entrepreneur Startup Venture Capital Resource 270

Startup Professionals Musings

DECEMBER 21, 2020

Most entrepreneurs, and members of any small team, naively assume that the key to their success is hard work, dedication, and long hours in the business. It behooves all entrepreneurs and team members to recognize the positives and negatives of each type of relationship. That’s why investors say they invest in people, not ideas.

Mentor 135

Mentor Competition Summary Activity 135

InfoChachkie

JULY 21, 2011

Paige is a gifted communicator and my summary does not do him justice. He offers a number of worthwhile tips and tricks that I was not able to capture in the textual summary, so the 14-minute audio file is well worth your time. What follows is a summary which paraphrases Paige’s responses. Click here to listen to the Audio File.

Summary 246

Summary Tips Sales Entrepreneur 246

Both Sides of the Table

MAY 25, 2013

After all, I am no stranger to the publicly expressing the frustrations of dealing with the downside of this industry as I wrote about in 2006 when I was an entrepreneur. Most top tier VCs return about 3x invested capital and outlier funds (the best of a vintage) might return 6-8x. The best VCs don’t try to help entrepreneurs.

Venture Capital 374

Venture Capital Entrepreneur Invest Funding 374

Startup Professionals Musings

SEPTEMBER 27, 2011

As of today, I will have published an article here for entrepreneurs and startups every day for the last 1001 days, since I started Startup Professionals Musings near the close of 2008. Here are ten key messages that I would like to leave you with: I continue to gain respect for entrepreneurs. I’m sure you know what I mean.

Entrepreneur 96

Entrepreneur Startup Blogging Social Media 96

Both Sides of the Table

APRIL 13, 2013

I spent countless hours with VC firms, startups & LPs (the people who invest in VC firms). On my first real day back the first thought I have is that most entrepreneurs don’t manage their VC relationships as well as they could. It’s best to think of your VC partnership as a customer.

Venture Capital 309

Venture Capital Summary Organization Entrepreneur 309