December, 2011

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Should Startups Focus on Profitability or Not?

Both Sides of the Table

There are certain topics that even some of the best journalists can’t fully grok. One of them is profitability. I find it amusing when a journalist writes an article about a prominent startup (either privately held or preparing for an IPO) and decries that, “They’re not even profitable!” 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”

Startup 418
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Eleven Startup Tips From Mark Cuban

InfoChachkie

Article first published as Eleven Startup Tips From Mark Cuban on Technorati. Note: This is an installment in the Iconic Advice series. Other installments include: Jeff Bezos , Steve Jobs and Richard Branson. Mark Cuban is a lifelong serial entrepreneur, launching his startup career with a variety of teenage schemes, including buying and selling collectable stamps to pay for college.

Tips 274
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Digital Family Reunion To Honor Eric Pulier At Event

socalTECH

The Digital Family group said this week that they will be honoring Eric Pulier with its Outstanding Achievement Honor at its event Thursday. The group has previously recognized Nolan Bushnell, Scott Painter, and William Quigley with the award. Pulier is the founder or co-founder of IVT, US Interactive, Desktone, and SOA Software. The Digital Family is running its fourth annual holiday party, the Digital Family Reunion , on Thursday, gathering together a collection of over 30 different local orga

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Good hearts finish first.

Berkonomics

People argue over whether an entrepreneur with a sense of fairness, a desire for collegiality, a want to share the profits can succeed in the long run within a business world full of lions and tigers that eat timid entrepreneurs for lunch. First, let’s separate the “good heart” from the issue of whether an entrepreneur is driven to succeed. A sense of values that allows for sharing and fairness is not at odds with a ‘type A’ entrepreneur driven for success.

Metrics 168
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Can You Ask for Office Rent Relief? How to Manage Your Lease During COVID-19

Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.

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Meet The Team: BetterWorks

SoCal Tech Calendar

Wednesday, December 7, 2011 -- Meet The Team: BetterWorks. LetsDo. Want to know how an idea turned into a revolutionary company perks program? Interested in learning how to kill it with business development? Join Betterworks to learn how to sell your product before it launches.

Ideas 124
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Jacob Greenspan and David Schaeman perform at TEDxAmericanRiviera 11/11/11

Eric Greenspan

My son Jacob (14) and his pal David Schaeman (15) perform at TEDxAmericanRiviera 11/11/11. Needless to say, I’m very, very proud of this. But don’t take my word for it, listen to these boys play, they are phenomenal.

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Unlike You, Mark Zuckerberg And Bill Gates Can Go Both Ways

InfoChachkie

Article first published as Unlike You, Mark Zuckerberg And Bill Gates Can Go Both Ways on Technorati. Karch Kiraly (pronounced “cartch kur-ai”) is an anomaly. He is the only person to win Olympic gold medals in both indoor and beach volleyball. . Just as Karch is a rarity, so are entrepreneurs who are equally facile at startups and Big Dumb Companies (BDCs).

Coach 232
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Interview with Josh Resnick, ntro

socalTECH

Have you ever been sitting around in an airport or public place, and wonder if there is someone around you should be introducing yourself to and meeting? That's the problem that the mobile app ntro is looking to solve. Josh Resnick is a serial entrepreneur, and the founder and CEO of nProgress , the company behind ntro. Josh was formerly the President of Pandemic Studios, and helped co-found the company, merge it with Bioware, and eventually sell the combined firm to Electronic Arts for $860M.

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The Fifty Percent Startup Rule

Berkonomics

Fifty percent of all businesses formed fail within the first two years. . There are many variations of this number since there are a number of ways to measure failure. But the number is a startling reminder that creating a business is not easy, nor is it any assurance of success. . After speaking with many entrepreneurs over the years, each defines success in his or her unique way.

Startup 149
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LA CEOs

SoCal Tech Calendar

Thursday, January 5, 2012 -- LA CEOs, an education and support group for CEOs presents: Banking on the Difference; Changes and Strategies for Businesses AFTER The Great Recession After the summers Debt Standoff, Sand Ps Downgrade of the U.S., and this falls European Credit Lockup - whats in store for business in the New Year and beyond? If you want to know more about where things are headed and what YOU should know about banking  from a commercial banker that has worked with start-ups

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10 Rules For Picking a Company Name That Sticks

Startup Professionals Musings

First things first – your startup needs a name! This may seem a silly and frivolous task, but it may be the most important decision you make. The name of your business has a tremendous impact on how customers and investors view you, and in today’s small world, it’s a world-wide decision. Please don’t send me any more business plans with TBD or NewCo in the title position.

Company 108
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Why I’d Rather Err on the Side of Direct Feedback Than Pleasantries

Both Sides of the Table

A few weeks ago I was reading a blog post by MG Siegler that really struck a chord. The title was “The Jerk,” which is a reference to both the Steve Martin film but more precisely to Robert Scoble’s interpretation of Steve Jobs having just read his biography. The gist of MG’s argument is that he’d rather work with people who are openly critical of his ideas if it helps him to perform better than to have a bunch of “yes men” around who just say what a gre

Press 337
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Worst Networking Call Ever

InfoChachkie

I just got off the phone with someone who wanted my help getting networked into the Santa Barbara business community. Little did I know when the call began, that it would end up being the worst networking call in which I have ever partaken. If you haven't already subscribed yet, subscribe now for. free weekly Infochachkie articles! A Little Research Goes a Long Way.

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SpaceX: Build Your Own Falcon 9 Rocket

socalTECH

Fans of Hawthorne-based SpaceX , the commercial rocket firm of Elon Musk, have been riding high this week, with the approval of its NASA launch mission to the International Space Station, scheduled for February. Plus, the firm has also just been tapped by new space startup Stratolaunch--backed by Microsoft billionaire Paul G. Allen--to help power that company's own space efforts.

SpaceX 223
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Is success a goal or a byproduct?

Berkonomics

Look this up sometime in your browser: “Success is a byproduct, not a goal.” You will find it attributed to tens of originators. I first heard this in an episode of Friday Night Lights , when sage Coach Taylor began a locker room speech with those words. And yet, when I facilitate strategic planning sessions, I often lead executives to create a goal for their enterprise, one which can be reached by successfully accomplishing a series of strategic actions, each of

Coach 149
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Teens in Tech

SoCal Tech Calendar

Saturday, December 17, 2011 -- Teens in Tech Conference. The Teens in Tech Conference is about connecting youth and technology with entrepreneurship, startups and the web. We'll achieve just that in front of an audience of young entrepreneurs, developers and designers.

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Most Great Entrepreneurs Don’t Drop Out of Harvard

Startup Professionals Musings

Many believe that entrepreneurs are born, not made. While I agree that successful company builders usually have a natural inclination to be entrepreneurs, a good education helps polish that apple. There are people who are natural musicians, but that doesn't mean we don't try to teach them music. Of course, there's no law saying you have to go to college to start a business.

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Let Me Introduce Myself

Both Sides of the Table

I am a big believer in VC pitches that the bio slide should come up front. Actually, I think the advice in this post applies to any sales meeting also. The short answer is that by knowing the key members of the management team the VC firm can quickly identify strengths on your time and know whether you have some competitive advantage in your chose field relative to other people with whom you will compete.

Slides 296
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Want To Be A TechStar? Read Brad Feld and Jason Mendelson’s New Book: Venture Deals

InfoChachkie

I recently reviewed Brad Feld and Jason Mendelson’s book Venture Deals , in THIS ENTRY. I concluded that it is an effective tool for leveling the playing field between sophisticated investors and emerging entrepreneurs. I have subsequently recommended the book to number of students as well as emerging entrepreneurs, all of whom expressed positive feedback. .

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Qualcomm Stadium To Become Snapdragon Stadium

socalTECH

San Diego-based Qualcomm is planning to rename Qualcomm Stadium to "Snapdragon Stadium", as part of a promotion of the company's mobile Snapdragon mobile processors, the company is announcing today. The firm said the move, the San Diego Chargers, the City of San Diego and The San Diego Bowl Game Association, will be unveiled today at the stadium. Qualcomm did not say how much it is spending to replace the exterior signs, scoreboard, and other brand assets at the stadium.

San Diego 215
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The trend is your friend.

Berkonomics

Too many startup businesses, especially in the technology world, are built upon brand new concepts that have not yet been proven in the field with products from other companies that have revenues flowing. As a rule, creating a product that does not fit into an existing space, cannot be defined against one or more competitors, or which needs a long description to understand, will require considerably more marketing capital and entail much more risk than one that follows an existing trend, even i

Class 149
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Women Transforming Los Angeles

SoCal Tech Calendar

Thursday, December 15, 2011 -- Women Transforming Los Angeles. Broads Circle. Panelists: Jane Pisano, Natural History Museum of Los Angeles County; Ann Samson, Westside Family YMCA, Los Angeles; Regina Birdsell, Southern California Center for Nonprofit Management; Carline W. Nahas, Korn/Ferry International.

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7 Reasons Big-Company Executives Fail in a Startup

Startup Professionals Musings

Mid-level or even top executives who “grew up” in large companies often look with envy at startups, and dream of how easy it must be running a small organization, where you can see the whole picture and it appears you have total control. In reality, very few executives or professional stars from large corporations thrive in the early-stage startup environment.

Startup 105
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Getting to Know Maker Studios

Both Sides of the Table

A year ago I invested, along with Dana Settle at Greycroft Partners , in a startup company called Maker Studios. What excited me was that they had an immensely talented team that understood how to produce & distribute low-cost videos, initially via YouTube. It was founded by Danny Zappin, Lisa Donovan & Ben Donovan. They know this model of YouTube production & distribution better than anybody else that I’ve met in my 5 years in Los Angeles.

Carson 291
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Top Ten infoChachkie Entries Of 2011

InfoChachkie

I began publishing my blog in 2008. For the first couple years, I wrote under the pseudonym Uncle Saul. I was hesitant to use my own name, as I did not want my blog to be perceived as a self-promotional vanity project. By early 2010, I found my stylistic voice and identified my audience of emerging entrepreneurs and thus dropped my penname. In addition, my role as Partner at Rincon Venture Partners provided me with a business reason to invest additional time and effort into my humble blog.

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Start Engine Creates $15M Fund, Adds Governor Gray Davis As Advisor

socalTECH

Los Angeles-based Start Engine , the business accelerator being spearheaded by Activision co-founder Howard Marks, said today that it has created a new, $15M investment fund for its portfolio of startups, and added former Governor Gray Davis as an advisor. The accelerator--just one of the many accelerators to emerge in Southern California in recent weeks--also said it has added John Maataa, the COO of the CW; Hayward D.

Funding 214
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The Eighty Percent Acquisition Rule

Berkonomics

Eighty percent of all businesses purchased by another company or by a new investor-operator fail to meet the stated expectations of the buyer after one year. As with the fifty percent rule, this rule is hard to find an author willing to be quoted as the source. But it is within the range of experience by many who have acted as brokers, serial purchasers or consultants for acquisitions.

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Interview Skills Workshop

SoCal Tech Calendar

Saturday, December 10, 2011 -- Interview Skills Workshop. The job market is tough these days. It pays to be prepared to present what you have to offer to a new or present employer with clarity and impact. But where can you learn the skills required to master an interview? Four Los Angeles organizations have joined together to bring you the Interview Skills Workshop on December 10, 2011.

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7 Keys to Startup Survival in Today’s Now Economy

Startup Professionals Musings

Since the days of Henry Ford, mass production has been the Holy Grail of business, rather than build-to-order. Too many businesses haven’t noticed that we have come full-circle, where mass customization is required now to win. Customers have come to expect immediate and tailor-made responses to their needs, and the businesses that fail to deliver quickly fall behind.

Startup 105
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TechZulu Presents 2012 Startup Forecast | Featuring Science, Tech Coast Angels, Amplify, StartEngine, upStart.LA

Tech Zulu Event

TechZulu is excited to invite you to the 2012 Startup and Entrepreneurial Forecast taking place on Tuesday Jan. 24 7pm at Coloft in Santa Monica. We have a line up of amazing speakers who will share their insights and forecast for startup trends in 2012. Topics of discussion will be Saas, Cloud, Mobile, Gaming, Social Markets, what surprises are coming for 2012, creating value with your company, hiring problem solvers, and building sensible businesses.

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(Re)Mixing It Up With Entrepreneurial Filmmaker, Kirby Ferguson

InfoChachkie

In Everything (Including Startups) Is A Remix , I discuss the brilliant series of films created by Kirby Ferguson, which focus on the origin of creativity in music, film and business. Kirby’s videos entertainingly illustrate that the building blocks of creativity, irrespective of the creation, are: copying, combining and transforming. In my recent interview with Kirby, he discusses the origin of his videos and how he called upon his entrepreneurial muse to bootstrap their creation.

Ideas 203
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TrueCar Backs Women Auto Racers

socalTECH

Santa Monica-based TrueCar , which provides automotive pricing information and powers automotive buying programs with its software and systems, said Friday that it is in an extensive, multi-year commitment to support female race car drivers. The firm said it is launching a "Women Empowered" initiative to back five female auto racing drivers, including Shea Holbrook (Pirelli World Challenge), Ashley Freiberg (Star Mazda Series), Shannon McIntosh (USF2000), Verena Mei (Rally America), and Emilee T

Truecar 213
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Questions to Ask in a Job Interview

Jason Nazar

These are the core questions that I ask every person that I interview. I’ve narrowed the list down to the top 7 questions I ask from a list of hundreds I have tried. Hope this helps. And as a bonus threw in a video for those folks looking for a job on the best way to get that interview.

Help 53
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Patent Reform Act

SoCal Tech Calendar

Thursday, December 8, 2011 -- Patent Reform Act. CommNexus. The world of patent law is constantly changing. Never more than this year with the enactment of the Leahy-Smith America Invents Act (AIA) of 2011 (formerly known as the Patent Reform Act of 2011). The changes that have been ushered in by the AIA will take effect over the 18 months following the enactment on September 16th, 2011.

Patents 113
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If You Think Making Money is Hard, Try a Non-Profit

Startup Professionals Musings

A common misconception I often hear in the startup world is that non-profits are easy and safe, since they don’t have to pay taxes, and they don’t have to make a profit for their shareholders. In reality, from the feedback I get from non-profit executives, exactly the opposite is true. Technically speaking, in the United States, a non-profit corporation or association is one which has been exempted from Federal income taxes by meeting the criteria set out Section 501(c) of the Internal Revenue C

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Get in the Holiday Spirit at the Annual Digital Family Reunion Bash!

Tech Zulu Event

It’s that time of year again. You know what I’m talking about – scrambling to buy gifts because you blanked on Cyber Monday, pulling late-nighters to debug your software and push a new version before everyone checks out, and refusing to count the calories you’ve consumed since turkey day. You’ve been working like a maniac, so why not take a break to reflect, relax and raise a glass with some of LA’s most successful technology entrepreneurs?