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This is part of my new series on what makes an entrepreneur successful. I originally posted it on VentureHacks , one of my favorite websites for entrepreneurs. I wanted to also post the series here to have it as a resource on my blog for future entrepreneurs who stop by. If you haven’t spent time over there you should.
I originally conceived it as the Top 11 things that I believe “all entrepreneurs need to succeed.&# If it stuck to this theme then I would stand by my top 11. It isn’t a “must&# for me but it’s certainly a huge positive when entrepreneurs have it. I’ll always point out when I am.).
Changing the deal that late in the game is nearly impossible, after other investors have already completed their documents and the deal supposedly put to bed. What if it is the company attorney or entrepreneur that finds the stinky clause so very late in the game? Email readers, continue here.]
Ah, and those required posters in the lunchroom [Email readers, continue here…] Notice that every poster that is required to be displayed in a company public area (usually the lunchroom) is posted for the benefit of the employee to inform them of rights granted by law. ” The post Entrepreneurs: Employment law is not on your side!
Changing the deal that late in the game is nearly impossible, after other investors have already completed their documents and the deal is supposedly put to bed. What if it is the company attorney or entrepreneur that finds the stinky clause so very late in the game? Can you change a deal if not the lead investor?
Email readers, continue here…] Notice that every poster that is required to be displayed in a company public area (usually the lunch room) is posted for the benefit of the employee to inform him or her of rights granted by law. Hold regular reviews for all your employees right to the top.
There are many ways to project the value of a company for purposes of pricing an investment, but all rely upon the revenue and profit projections of the entrepreneur as a starting point. For those of us who’ve invested in early-stage companies, especially technology startups, we have confronted a universal problem.
500 Hats , January 10, 2010 Developing new startup ideas - Chris Dixon , March 14, 2010 Batch Processing Millions and Millions of Images - Code as Craft , July 9, 2010 jQuery Plugin: Give Your Characters a NobleCount - The Product Guy , March 23, 2010 How do the sample Series Seed financing documents differ from typical Series A financing documents?
An entrepreneur recently sent me an @ reply message on Twitter asking for some help with a decision coming up in his business. I get these frequently via Twitter, Facebook or email. I provided my email address and he sent me a 688 word email (e.g. I felt I had committed so I read and responded to the email.
Generally speaking in venture capital financings the legal documents will specify that only “major investors” (a threshold set in the agreement – which can be $500,000 investor or more). Does he blog about venture capital and try to advise entrepreneurs? There is a reason for this. Is this investor on AngelList?
More than ever, the banks and lenders today require personal guarantees from entrepreneurs, and even from CEO’s of funded businesses. Starting and running a small or growing business can be a challenge to the most confident and optimistic entrepreneur. All entrepreneurs assume risk when starting and growing a business.
Now, I’m pretty on the record that being an entrepreneur is about being great at The Do. Do you find yourself too much in email mode? I regularly shut down my email so that I don’t get pop-up alerts when I’m working. I get sucked up in “Do” mode. Startups Are for Doers. I close my Twitter tab.
There are many ways to project the value of a company for purposes of pricing an investment, but all rely upon the revenue and profit projections of the entrepreneur as a starting point. Email readers, continue here.]
Entrepreneurs tend to remain in the business niche they know best. Some of these entrepreneurs starting a new company are alumni from companies that would be a competitor to the enterprise being created or joined. Further, there is no expiration date on these poisoned documents. Are you one of those? Digital or analog!
Being very visible in the startup community, I still get an amazing number of badly written emails, rambling executive summaries, and business plans with one paragraph per chapter. Always include the key document elements of an opening, main body, and a conclusion. Key points should be highlighted and positive.
John Payne is a experienced entrepreneur, who has run two, public Internet companies -- Stamps.com and Day Software -- in addition to helping to run a number of startups. How are you acquiring customers, and why wouldn't they just have someone send them their bill by email? Email lis oppose of what our system is.
Email readers, continue here.] If you’re seeking investment from anyone other than friends and family, you’re probably going to have to navigate through the exercise of careful planning, documentation and execution. And who is right here? Investors are a fickle bunch in general.
CapLinked , the online, cloud-based service which helps startups and others manage their fundraising, has added a new sharing feature which makes it easier for users to share their information via email, Skype, and AngelList.
If you have been in management or an entrepreneur long enough, you will have experienced the gray area of decision-making where ethics, the law, your needs and expediency all collide. friend who teaches a graduate course in entrepreneurism at a local university. Email readers, continue here.] I have a Ph.D. Or is it? .
Being very visible in the startup community, I still get an amazing number of badly written emails, rambling executive summaries, and business plans with one paragraph per chapter. Always include the key document elements of an opening, main body, and a conclusion. Key points should be highlighted and positive.
This is a classic mistake many entrepreneurs make so I’d like to offer some constructive advice on how the savvy hand would be played. Documenting and Ratifying Important Decisions Afterward. I would have the legal board minutes sent out within a week of the board meeting and ask for unanimous approval via email immediately.
If you have been in management or an entrepreneur long enough, you will have experienced the gray area of decision-making where ethics, the law, your needs and expediency all collide. friend who teaches a graduate course in entrepreneurism at a local university. we_are_wat we_are_watching_you. Gray area decisions. Knowing the facts.
For our Insights and Opinions section today, we have a contribution from Jason Nazar, co-founder and CEO of Santa Monica-based Docstoc , an online site for sharing and finding professional documents. Get Warm Introductions Typically 1 out of 10 people will email or call you back from a cold outreach. READ MORE>>.
If you define your self-worth as an entrepreneur by how busy you are, it’s time to find another lifestyle. For survival, entrepreneurs need to be all about accomplishing results that matter for themselves, their team, and their customers. busy entrepreneur five choices KoryKogon productivity startup' That’s productivity.
It is human nature for you and every entrepreneur to fall into a routine of taking care of day to day issues, meetings, communicating with customers and shareholders. Email readers, continue here…] So, how do you regain that enthusiasm for what is best for you and for the company? Much of your job has become routine.
I recently read a post over on VentureHacks titled, “ Top Ten Reasons Entrepreneurs Hate Lawyers &# written by Scott Walker (who blogs on legal issues for entrepreneurs ). Because many great entrepreneurs work with lawyers in registering their companies they have their ear to the pavement on the earliest of company formations.
entrepreneur Wil Schroter (I am an angel investor in Affordit). The idea is that in a world in which companies need to deal with customer support requests from Twitter, Facebook, email, phone, IM, etc. Collaboration in business starts and ends with email. In business you spend your life in email. Because email works!
Great entrepreneurs, like Bill Gates, are great at both. For entrepreneurs, effective networking is required to find investors, partners, and customers. Serious investors expect founders to have their homework done before the first interaction – documented executive summary, business plan, and financial model. Time management.
Entrepreneurs blaming their board for failures of a fragile, early stage company. Email readers, continue here…] Recently, insurance companies have added employee practice liability insurance (EPLI) to the package to address specifically the recently-increasing risk of employees suing for redress. Five times. It does me.
If you can’t solve problems and enjoy it, you won’t make it as an entrepreneur. By definition, an entrepreneur is the first to undertake a given business, and firsts never happen without problems and people frustrations. If the problem was a business process, get the process update documented and communicated to all.
Entrepreneurs tend to remain in the business niche they know best. Some of these entrepreneurs starting a new company are alumni from companies that would be a competitor to the enterprise being created or joined. Further, there is no expiration date on these poisoned documents. Are you one of those? The obvious admonition.
Entrepreneurs tend to remain in the business niche they know best. Some of these entrepreneurs starting a new company are alumni from companies that would be a competitor to the enterprise being created or joined. Further, there is no expiration date on these poisoned documents. Are you one of those? The obvious admonition.
Their primary intended reader is a “first-time entrepreneur”, but clearly other stakeholders within the startup universe can also benefit from the book’s hands-on advice. They are both former entrepreneurs and current Partners at Foundry Group , a highly successful, early stage venture firm. The Magicians Tells Their Secrets.
If you’re seeking investment from anyone other than friends and family, you’re probably going to have to navigate through the exercise of careful planning, documentation and execution. Investors are a fickle bunch. They want to know that their money is not just being thrown at an idea that will become a trial by “fire.”. And the result?
It is human nature for you and every entrepreneur to fall into a routine of taking care of day to day issues, meetings, communicating with customers and shareholders. Email readers, continue here.] So, how do you regain that enthusiasm for what is best for you and for the company? Much of your job has become routine.
Make sure to send a monthly email to all board members / investors with a link to your spreadsheet saying, “I’ve made a few updates. But we barely get through all our email let alone log into online spreadsheets. They will likely forward your email to their partners. We’re busy. We want to help.
Investment documents usually call for quarterly reporting by the company to the investors. Usually, one or more of the investors is placed on the board as a requirement of the investment documentation. The entrepreneur often expects that person to keep fellow investors informed. How these investors try to solve the problem.
The San Diego firm is headed by Ethan Senturia , who sat down with us to tell us how Dealstruck is trying to help build small businesses and jobs--and also tells us a bit about what it''s like to come from a family full of very successful, and high profile entrepreneurs, and how that has influenced his experience as an entrepreneur himself.
Great entrepreneurs, like Bill Gates, are great at both. For entrepreneurs, effective networking is required to find investors, partners, and customers. Serious investors expect founders to have their homework done before the first interaction – documented executive summary, business plan, and financial model. Time management.
If you can’t solve problems and enjoy it, you won’t make it as an entrepreneur. By definition, an entrepreneur is the first to undertake a given business, and firsts never happen without problems and people frustrations. If the problem was a business process, get the process update documented and communicated to all.
And if there is a term for that which helps entrepreneurs stay focused on these good and true objectives then I’m all for it. ” Whenever I work with early-stage teams I have discussions about the meat & potatoes of online marketing. But I still believe Sean Ellis was right.
In fact, many angel investors or venture capitalists look for and respect the lessons learned by entrepreneurs that have survived a failed business. The key question is: Why did an entrepreneur fail? A successful entrepreneur who has seen the movie before is even more valued. You will have “seen the movie before”.
Rather than obsessing about an indirect gauge of customer satisfaction, entrepreneurs should focus on improving their Net Profit Score. A quick “No” is far more valuable to a busy entrepreneur than a nebulous NPS response of “five.”. As noted in Personal Pitch , entrepreneurs must make it easy for others to help them succeed.
Here are five of the most common examples: Failure to document a Founder agreement at the beginning. Early partners or co-founders often drop out of the picture early due to disagreements, and you forget about them, but they don’t forget about the verbal or email promises you made. If a lawsuit is inevitable, better sooner than later.
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