Technology Council

JANUARY 1, 2014

I have the opportunity to work with a large number of sales teams and to see what makes for highly successful ones and ones that struggle. In my experience the #1 determining factor in sales team success is whether the company has the right sales people on board or not. The software sells for $50,000 to $400,000 per instance.

Sales 100

Sales Training Software Email 100

Berkonomics

NOVEMBER 17, 2016

Everyone who manages a company or its sales force wants to write as many new deals as possible, and is usually warry about doing anything that might threaten the positive outcome of a pending sale. Deadlines are an important sales tool. Do so within the offer document and with a personal comment with delivery of the offer.

Sales 120

Sales Tool Writing Customer 120

Berkonomics

DECEMBER 21, 2017

The investor organization is granted the seat as long as the investment remains, and the documents often name the first representative assigned by the investor group to the position. Email readers, continue here…] In later insights, we will explore the legal and ethical responsibilities of board members.

Invest 243

Invest Sales Resource Email 243

Berkonomics

AUGUST 27, 2020

All corporate governance documents, from incorporation articles to minutes of all meetings of the board are maintained in the deal room. Up-to-date insurance policies, leases, financial documents and schedules such as fixed assets are copied here. Who will use it and when? When to start a data room? The payoff.

Software Review 156

Software Review Startup Patents Email 156

Berkonomics

JUNE 15, 2017

From the moment such an investor looks seriously at your company, the investor or VC partner is thinking of the end game, the ultimate sale of the company or even of an eventual initial public offering. Taking in angel or venture money requires a setting of an entrepreneur’s expectations that may come as a shock at least at first.

Venture Capital 243

Venture Capital Sales Invest Class 243

Berkonomics

JANUARY 24, 2019

So, what are the rules about those pesky non-compete agreements signed upon your discharge, or upon the sale of your previous company? Further, there is no expiration date on these poisoned documents. You cannot complain that the document or information in question is more than five years or two employers old. Digital or analog!

Company 120

Company Companies News Startup 120

Berkonomics

JANUARY 24, 2019

So, what are the rules about those pesky non-compete agreements signed upon your discharge, or upon the sale of your previous company? Further, there is no expiration date on these poisoned documents. You cannot complain that the document or information in question is more than five years or two employers old. Digital or analog!

Company 120

Company Companies News Startup 120

Both Sides of the Table

FEBRUARY 17, 2019

Having read his latest op-ed on email I know why I erred towards the side of of not loving his book as much as some did. Apparently he’s an “organizational psychologist professor and thinks that it’s rude not to answer email. I also surmise that perhaps organizational psychologists don’t get as much unsolicited emails as some of us do.

Email 250

Email Writing Conference Mobile 250

Berkonomics

JULY 23, 2020

Sometimes the end game or sale of the company is not a happy event. Especially when outside investors, venture capitalists, or angels, have put in substantial money and the sales price is less than the value of their investment. There are some questions a distressed sale brings to mind. How about outside investors?

Company 156

Company Companies Sales Venture Capital 156

Both Sides of the Table

MAY 19, 2018

These collective sets of documents form the basis of what somebody looking at investing would call “financial due diligence.” What happens is 18–20 firms access the data room and download all of your documents. For starters you have to realize that fund-raising is a sales process. It doesn’t. It felt like heresy.

Funding 336

Funding Venture Capital Startup Email 336

Both Sides of the Table

MAY 14, 2018

Here’s Why You Should Just Send the Deck I know you have your document sending tool to send your fund-raising deck to VCs and track who read your deck, which pages they read and how much time they spend on each page. What should not be in your deck? I would likely open up your deck, read it again and begin contemplating your company again.

Funding 239

Funding Venture Capital IP Email 239

Berkonomics

OCTOBER 18, 2018

Email readers, continue here…] Sometimes a secondary fund-raising effort leads to a lower valuation than the last. And it is that disconnected employee, usually one or more of the better performers, that starts looking for a job when times look bad for a company. Investor loyalty is most tenuous of all.

Layoffs 240

Layoffs Class News Email 240

Berkonomics

OCTOBER 3, 2013

All corporate governance documents, from incorporation articles to minutes of all meetings of the board are maintained in the deal room. Up-to-date insurance policies, leases, financial documents and schedules such as fixed assets are copied here. Email readers, continue here.]

Software Review 191

Software Review Patents Startup Email 191

Berkonomics

DECEMBER 30, 2021

Several times in my investing life, as the final board member making the arrangements to dispose of remaining assets, I have literally been the one to turn out the lights, carry out the documents, books and records to my car, and become the only remaining contact between the failed business and the investors, bankruptcy court, or creditors.

Entrepreneur 156

Entrepreneur Training Invest Email 156

Berkonomics

JANUARY 31, 2019

Certainly, the buyer’s asset purchase documents included a non-compete clause, usually valid for two years from the date of the closing. And because there was consideration paid to you in the sale, that clause is binding upon you and is effective almost everywhere. Now we add complexity to the issue: bankruptcy of the buyer.

Patents 120

Patents Sales Product Email 120

Berkonomics

JANUARY 31, 2019

Certainly, the buyer’s asset purchase documents included a non-compete clause, usually valid for two years from the date of the closing. And because there was consideration paid to you in the sale, that clause is binding upon you and is effective almost everywhere. Now we add complexity to the issue: bankruptcy of the buyer.

Patents 120

Patents Sales Product Email 120

Startup Professionals Musings

FEBRUARY 19, 2021

An approach I suggest these days is for freelancers to contract for the actual role, probably part-time, of startup CFO, VP of Sales, or President. Speak to people, rather than write a document every time you want a change. There are a myriad of ways to make this happen in the world of startups. Specialist versus consultant.

Startup 150

Startup Slides Email Customer 150

Startup Professionals Musings

MARCH 21, 2021

Serious investors expect founders to have their homework done before the first interaction – documented executive summary, business plan, and financial model. More customers are lost to apathy after the sale than poor service or quality. A numbing 68% of all business lost in America is lost due to lack of follow-up after the sale.

Activity 133

Activity Startup Ideas Technical Review 133

Berkonomics

NOVEMBER 28, 2013

This week, David Steakley returns for another bite at the corporate apple, with just the right amount of tart comments that will keep this document legal for now. How do you judge a company’s prospects, if a corporate business-to-business sale has to be your game? Email readers, continue here.] Read on! - DB.

Startup 214

Startup Sales Product Customer 214

Berkonomics

APRIL 4, 2019

Email readers, continue here…] Prepare for your annual meetings well. Summarizing income statements with a line for revenues, cost of revenue, general and administrative expenses, sales and other direct costs – all leading to net income, would satisfy the legal requirement for statement of income and expense.

Class 120

Class Course Report Competition 120

Berkonomics

AUGUST 29, 2013

Sometimes the end game or sale of the company is not a happy event. Especially when outside investors, venture capitalists, or angels, have put in substantial money and the sales price is less than the value of their investment. There are a number of questions a distressed sale brings to mind.

Sales 166

Sales Venture Capital Invest Guide 166

socalTECH

JUNE 24, 2010

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. Ive spent most of my career in sales (or some sales like function), and here are my thoughts on how to be better with your BD.

Develop 154

Develop Development Santa Monica Tips 154

Berkonomics

JANUARY 27, 2012

Certainly the buyer’s asset purchase documents included a non-compete clause, usually valid for two years from the date of the closing. Email readers, continue here.] What if you are the seller of a previous business or shares amounting to more than an insignificant percentage of a previous business?

Patents 159

Patents Sales Email Product 159

Berkonomics

JULY 19, 2010

The investor organization is granted the seat as long as the investment remains, and the documents often name the first representative assigned by the investor group to the position. Email readers continue here.] In subsequent insights, we will explore the legal and ethical responsibilities of board members.

Pricing 120

Pricing Invest Startup Sales 120

Berkonomics

JANUARY 30, 2020

It is not common for the CEO of a rapidly growing company to think of slowing down the furious pace enough to have each manager (including the CEO) document the job process managed, as well as see to the documentation for each process managed below. Examples of documentation by key employees. We leaders are not invincible.

Organization 156

Organization Examples Startup Email 156

Berkonomics

JANUARY 27, 2010

From the moment such an investor looks seriously at your company, the investor or VC partner is thinking of the end game, the ultimate sale of the company or even of an eventual initial public offering. Taking in angel or venture money requires a setting of an entrepreneur’s expectations that may come as a shock at least at first.

Venture Capital 168

Venture Capital Sales Invest Class 168

Startup Professionals Musings

MAY 12, 2021

Cold calls to strangers and email blasts are not so productive. You won’t need the multiple follow-ups and time to close new sales. If I don’t see a documented marketing plan, with measurements driven by industry norms, I assume that you are counting primarily on your passion to assess growth.

Technical Advisors 154

Technical Advisors Tips Marketing Case Study 154

Berkonomics

MARCH 25, 2012

Email readers, continue here.] Because the Internet has such a long memory and documents from the distant past can be found with ease, a search the “The Berkus Method” today will yield a number of conflicting valuations culled from the many subsequent publications of the method over the ensuing years.

Invest 321

Invest Startup Email Competition 321

socalTECH

JULY 8, 2010

DocStoc, based in Santa Monica, is headed by Jason Nazar , and offers a way for people to share and purchase professional documents. HauteLook, one of the first firms to capitalize on the sample/private sales market, is already profitable and is growing rapidly. Let us know in comments or email!). DocStoc vs. Scribd.

Southern California 124

Southern California Rustic Canyon SoCal Startup 124

Startup Professionals Musings

OCTOBER 16, 2020

In reality, the opportunities are greater for starting with a micro-business , ideally from your special expertise or passion, with fewer than five employees, and just enough sales to comfortably support you and your team. Get in the habit of documenting all agreements and terms. It’s good communication and good business.

Customer 125

Customer Custom Tool Writing 125

Both Sides of the Table

FEBRUARY 7, 2010

I’ll publish the final post in this series this week and then move on to my next series – sales & marketing. I’ll be covering my PUCCKA sales methodology. My first company launched in 1999 and we were offering a SaaS document management in the cloud (we were called ASPs back then).

Entrepreneur 267

Entrepreneur Startup SaaS San Diego 267

Berkonomics

MAY 29, 2014

Included in a business plan are financials, competitive landscape, marketing plans, and projected sales to name a few. Email readers, continue here.] A business plan is yours alone. But it’s a valuable document for you. From Basic Berkonomics: Available Amazon, B&N, berkus.com and booksellers everywhere.

Startup 166

Startup Guide Help Mentor 166

Berkonomics

APRIL 14, 2012

Email readers, continue here.] Summarizing income statements with a line for revenues, cost of revenue, general and administrative expenses, sales and other direct costs – all leading to net income, would satisfy the legal requirement for statement of income and expense.

Class 202

Class Report Competition .Net 202

Berkonomics

OCTOBER 7, 2011

Email readers.continue here] Sometimes a secondary fund-raising effort leads to a lower valuation than the last. And it is that disconnected employee, usually one or more of the better performers, that starts looking for a job when times look bad for a company.

Layoffs 136

Layoffs Class News Email 136

SoCal CTO

MARCH 2, 2015

I have quite a few conversations like this and am having one via email right now, so it inspired me to put it in a post instead. What you should be gathering from this is that looking for a job is more of a sales process than anything else and there are no easy answers. You need to start by figuring out who your suspects are.

CTO Hire 150

CTO Hire CTO Coach Los Angeles Angel 150

Startup Professionals Musings

AUGUST 19, 2013

In simple terms, it is a document which describes all the what, when, where, and how of your business for you, your cohorts, and potential investors. Finally, hone the result into a professional document. I’ll even send you a free sample of my own business plan via email, if you drop me a note.

Sample 92

Sample Writing Startup Summary 92

Startup Professionals Musings

OCTOBER 8, 2018

For example, I still find businesses asking you to print, sign, and return documents by mail in lieu of digital signatures or email. Intel’s Andy Grove famously argued that chip technology doubled every 18 months, so he planned on replacing his products on that schedule, despite sales.

Technical Review 84

Technical Review Customer Custom Startup 84