April, 2014

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Helping Startups Understand Salespeople & the Sales Culture

Both Sides of the Table

'Most technology startups seem to be funded by product people or business people. Specifically what is often not in the DNA of founders are sales skills. Nor do they exist in the investors of early-stage companies. The result is a lack of knowledge of the process and of sales people themselves. My first startup was no different. I had never had any sales training so everything we did for the first couple of years was instinctual.

Sales 382
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You Are Never Too Old To Learn To Surf (aka: Don’t Be Afraid To Suck)

InfoChachkie

'A version of this article previously appeared on Forbes. I have a confession: I used to quickly become frustrated whenever I tried something new and I didn''t quickly excel. Rather than attempting to master the new activity, I would moved on to another task, seeking a gentler learning curve. If you haven''t already subscribed yet, subscribe now for free weekly JohnGreathouse.com articles!

Activity 275
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Makers Making The Sci-Fi Tricorder A Reality With VOXearch

socalTECH

'Remember the the Star Trek Tricorder--that handheld, sci-fi device which could be waved over someone and instantly figure out what was wrong with their health? A number of teams have recently been looking to turn that vision into reality, as a result of the Qualcomm Tricorder Prize , a $10M competition being run by the X Prize Foundation to create a real life Tricorder.

Startup 262
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Is asset-based lending for you?

Berkonomics

'With help from JJ Richa. The next logical step in our analysis of financing tools is to analyze asset-based lending, in which you pledge or assign your short term assets, such as accounts receivable or inventory, to the lender. Often, the lender then tracks the pledged assets until money is received or inventory sold, expecting repayment from the proceeds of sale.

Report 166
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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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Entertainment Deals Take Center Stage In LA’s Burgeoning VC Scene

TechCrunch LA

A string of big acquisitions, public offerings, and a pipeline of growing young startup companies has venture investors saying “I love L.A.” The recent acquisitions of Maker Studios and Oculus VR, as well as the planned public offering for TrueCar that’s finally going through, all point to a healthy investment ecosystem, but there’s still one industry that rules over… Read More.

Truecar 100
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A Founder’s First Key Decision Is The Business Name

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.

Google 117

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Puking On The Emotional Startup Rollercoaster

InfoChachkie

'A version of this article previously appeared in The Wall Street Journal. Startups are an emotional rollercoaster; moments of sheer terror interlaced with bone-crushing, mind-numbing and highly addictive exhilaration. However, if unmodulated, the highs can become too high and the lows way too low. Long-hours, uncertainty and the never-ending pressure to survive can cause you and your team to overreact to wins, as well as setbacks.

Startup 262
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Aspiring LA Web Developer's Dream To Go To Coding Camp, Pay It Forward

socalTECH

'What do you do if you''d like to become a web developer, but can''t afford to pay for the courses to learn those skills? One aspiring Los Angeles web developer has come up with a unique idea, an Indiegogo campaign to help raise money for a coding camp --in exchange for donating 10 percent of his income for the next two years to scholarships. Lex Alexander says he wants to launch the Code It Forward Scholarship by raising $9,000 to help him pay for coding boot camp at General Assembly, and wants

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LA Hacks: Making LA the Tech Hub of the World

Tech Zulu Event

'When you think technology, you probably think Silicon Valley. But have you ever seen a stadium filled with 1500 student programmers in Silicon Valley? Los Angeles is the only place in the US with a collegiate hackathon, an event where programmers spend hours together programming and building, of that scale and the LA Hacks team from UCLA made sure it was awesome.

UCLA 108
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8 Leadership Skills

Alon Schwartz

'Trying to define leadership is like defining music. Trying to improve your leadership skills is like trying to write a song. There is no recipe, guidebook, or formula; it is art much more than science. You can sure learn the basics and some good fundamentals but at the end of the day, it’s about practice, learning from mistakes and learning from others.

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How Stories Best Communicate Your Startup Value

Startup Professionals Musings

'The entrepreneur’s challenge is to effectively communicate their value proposition, not only to customers, but also to vendors, partners, investors, and their own team. Especially for technical founders, this is normally all about presenting impressive facts. But in reality facts only go so far. Stories often work better, because humans don’t always make rational decisions.

Startup 111
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Some Reflections on VC Investment Decisions

Both Sides of the Table

'I was having dinner with a friend last night and we were chatting about venture capital and a bit about what I’ve learned. I started in 2007 with a thesis that my primary investment decision would be about the team (70%) and only afterward about the market opportunity (30%). I was telling him that it was much easier when I started because there were fewer deals, life was less public and somehow the world seemed to be spinning more slowly.

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This Philanthropist Is Winning Skirmishes With Poverty By Tapping Into An Inner City’s Entrepreneurial Spirit

InfoChachkie

'Much has been written about social entrepreneurship; ventures in which an explicit goal is the betterment of society. However, far less attention has been applied to entrepreneurial philanthropy, in which a startup mindset and accountability is applied to issuing non-profit grants. Intrigued by the concept, I was turned onto one of the leaders in this emerging field of philanthropy, A Better Chicago (ABC), by friend and ABC Board Member, Brent Rasmussen.

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BitAngels Sets Up Formal Investment Fund Worth Around $4.1M

socalTECH

'BitAngels , the angel investment group which invests in BitCoin related startups, has launched a new, 10,000 BTC structured fund--approximately $4.1 million US dollars at press time--the first, dedicated fund for its BitCoin investments. The angel investment group, whose members include such local Los Angeles investors as Michael Terpin and Brock Pierce, said the new fund is aimed at helping to grow the Bitcoin ecosystem, and is being run with actual Bitcoin.

Invest 244
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Hiring MBA’s by the Hour | Inventing Work 2.0 with Skillbridge

Tech Zulu Event

'A few scenarios for us to consider: You’re looking to grow the business and want to scale into new territory. You need to research the possibilities in a new landscape but your personal research has been well, a bit fruitless. Perhaps it’s time to raise a round of Venture Capital funding and want a pitch presentation a bit more composed than the dusty Keynote you put together last year for your friends and family round.

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Working with Developers

SoCal CTO

'There was a lot of passion in the room last week when I presented Working with Developers at the Stubbs Precellerator. I guess it should not be a surprise that Founders have lots of challenges working with developers. So I promised that I would provide a follow-up after the session. This is that follow-up and hopefully it’s useful to people outside of the session as well.

Develop 280
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10 Key Traits Of An Ideal Entrepreneur Partner

Startup Professionals Musings

'A while back I talked about how and where to find a co-founder in “ For a Startup, Two Heads are Always Better Than One ”. The feedback was good, but some readers asked me to be a bit more specific on attributes that might indicate an ideal startup partner. Even if you are looking in all the right places, it helps to know what you are looking for. In this context, I’m broadening the definition of partner from co-founder to “business partner.

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How You Know You’ve Got the Right Startup Model?

Both Sides of the Table

'If you’ve watched any industry in the last 20 years where technology has begun to transform how the industry works the results are always predictable driven by what Clay Christensen appropriately called “ The Innovator’s Dilemma ” (one of the most influential books that changed my thinking about markets). Young startups claim they are going to change the world, large companies that dominate that sector scoff at how low quality these new entrants are, until l ike frogs bo

Truecar 338
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Equity financing: great for rapid growth startups

Berkonomics

'We’ve spoken of financing a young company through friends and family, known as “inside angels.” There are three classes of equity investors for early stage businesses that we have not yet considered. Often grouped into formal organizations, these investors are sophisticated, helpful, and connected. First, angel investment groups come in all sizes from a few organized angels to large groups of three hundred or more.

Equity 232
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Airwolf 3D Adds Nylon 3D Printing Support

socalTECH

'Costa Mesa-based Airwolf 3D , a developer of 3D printers, said today that it has begun shipping a product that allows its 3D printers to print using materials like polycarbonate, Bridge nylon, and Nylon 645. According to the company, the support make it possible to print engineering-grade parts, allowing its "prosumer" grade 3D printers to print parts which previously would require expensive, high end industrial 3D printers.

Product 226
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HipTraveler | Taking Startup Competitions by Storm

Tech Zulu Event

'The University of Southern California is home to many innovative students and companies. In order to support all of these teams, there are several on-campus startup competitions every year, from the Silicon Beach USC competition to the New Venture Seed Competition, with prize funds to help build the companies. One team, a travel company that has built a discovery and planning tool that will make it easy and fun for travelers to find and book trips, was a winner of not just the New Venture Seed

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How to Make Better Reference Calls

Both Sides of the Table

'Reference calls. We all have to make them. Whether you’re considering hiring a new employee or as an investor whether you’re looking to do a background check on the founders of a company. My friend Jason Hirschhorn Tweeted about this today. Here are some pointers that I’ve learned over the years: 1. Ask for at least 5 references. As your candidate for at least 5 references.

Startup 302
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ZEFR Names New VPs

socalTECH

'Venice-based ZEFR said Thursday that it has named a new set of VPs. According to the company, it has named Rick Song as its new Global Head of Media Solutions Sales, and named Michael Saperstein as Head of Media Sales (East, Central, Canada). Song was previously Executive Vice President at Clear Channel Media + Entertainment, and Saperstein is a former Vice President from Machinima.

Venice 223
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Lynda.com Buys Compilr

socalTECH

'Carpinteria-based online video education site Lynda.com said today that it has acquired Compilr , a developer of a software coding and development environment which lets people learn how to write, compile, and test code from their web browser. Financial terms of the acquisition were not announced. According to Lynda.com, it will use the acquisition to expand its programming learning tools.

Education 223
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TYLT Labs' New Seed Fund And The Promise Of Silicon Beach

socalTECH

'There seems to a perpetual shortage of local venture capital investors in the region, despite the huge growth in startup activity here, particularly along Silicon Beach. However, that''s slowly starting to change, as investors have started to realize the opportunities in the area, and have started setting up operations here to tap into the wealth of startup talent.

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TeleSign Gets $40M

socalTECH

'Los Angeles-based TeleSign , the developer of security and identification technology headed by serial entrepreneur Steve Jillings, has raised $40M in a Series B funding round, the company announced this morning. According to the company, the funding was led by Adams Street Partners, and also included March Capital Partners and Summit Partners. TeleSign said that it will use the funds for its growth strategy, as well as "aggressive" hiring of its product development and engineering teams.

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Taxi Magic Looks To LA Market With Free Rides

socalTECH

'Look out, Uber--another, smartphone-driven ride service, Taxi Magic , is looking to get into the Los Angeles market, saying that it will offer up free rides to people in Los Angeles who need a ride, starting on Tuesday (April 22nd) and running until Friday, April 25th. According to Ride Charge, the Virginia company behind the Taxi Magic app, everyone in Los Angeles who books a ride with the app for the rest of the week will ride free, as long as they include a special code (TAXIBACK) in their b

Marketing 217
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AssetAvenue Launches Real Estate Crowdfunding Platform

socalTECH

'Los Angeles-based Asset Avenue has launched a new, crowdfunding site focused on commercial, real estate investments, the company said this week. According to the startup, its online marketplace lets potential real estate investors access to pre-vetted investment opportunities across the country. The company said it has already completed its first deal, a $485,000 investment round to acquired a commercial real estate loan backed by office space in New York''s Trump Palace.

Platform 212
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Hinge Launches Online Dating App In LA

socalTECH

'Los Angeles looks to be a hot market for online dating apps, as yet another, mobile dating app-- Hinge , said it has launched in the city. Hinge--which comes out of New York City--said it is launching in LA today, to help single, young professionals meet others in the city. Hinge is focused on connecting people via their extended, social network, saying it uses Facebook validated profiles and a user''s social links to help them meet people they will actually like.

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Report: LA Should Emulate San Francisco, NYC For Startup, Tech Efforts

socalTECH

'A new report, released over the weekend, says that Los Angeles should look towards New York and San Francisco and what they have done to help strengthen the community here for technology startups. The L.A. Tech Agenda report, edited by David C. Murphy, says that although LA''s tech community "is on fire", the community could learn from those other markets, by addressing funding shortages, retaining engineering talent from loca luniversities, building closer ties with the community, and by addre

Report 198
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LaunchpadLA Grad Preact Raises $4.6M

socalTECH

'Preact , a developer of software to help software companies reduce churn in their subscription customers which came out of Los Angeles-based startup incubator/accelerator Launchpad LA , has raised $4.6M in a funding round. The company said the funding came from Trinity Ventures. Preact--which was formerly known as FolioHD--was founded by Christopher Gooley and Cory Watilo.

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Solid Concepts Acquired By Stratasys For $295M

socalTECH

'Valencia, California-based Solid Concepts , a provider of 3D printing and prototyping services, has been acquired by Stratasys Ltd. in a deal worth $295M. According to the companies, Stratasys will pay $172M in cash on closing, plus deferred payments of $60M and up to $63M in retention-related payments for Solid Concepts. Solid Concepts operates six, U.S. facilities and employes a total of 450 employees, which uses 3D printing technology for prototyping parts for the medical, aerospace, industr

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Smarter Digital Marketing With Smartify's Carla Bourque

socalTECH

'How can marketers make better decisions and get better results from their online marketing? Pasadena-based Smartify (www.getsmartify.com)''s CEO, Carla Bourque , recently talked to us about the company''s online marketing platform, and how it differentiates itself from a lot of other competitors in the market. What is Smartify? Carla Bourque: Smartify has been based in Pasadena for the past three and a half years.

Marketing 196
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USC, USA Today Partners On New Online Sports Site

socalTECH

'In an unusual method of launching a new, online publication, the USC Marshall School of Business and USA TODAY said this morning that the two have linked up to create a new, online publication covering the business of sports, called Fields of Green. According to USC Marshall''s Sports Business Institute, and USA TODAY Sports Media Group, the new online publication will provide daily content on breaking news, current events and ongoing topics in the sports industry, including media trends, emerg

USC 196
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Pitch Competition Like No Other: A Dating Site For Puppets?

socalTECH

'A dating site for puppets? An app to help exorcise possessed kids? For veterans of many a technology startup pitch event in Silicon Beach, it might not be all that far fetched, given some of the wild, wacky, and improbable startups making the rounds today looking for investors. A new technology "pitch competition", Techgladiatr , said it is giving away "beer, BBQ, and cupcakes" as part of a pitch event tonight which will give startups 30 minutes to pitch "a business inspired by a random idea".

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Bullet Proof iPhone 5, Samsung Galaxy S 5? Ask Pelican

socalTECH

'Cell phone cases seem to be a dime a dozen nowadays, however, a new set of cases Friday by Torrance-based Pelican Products are worth mentioning. Pelican--known for their lineup of very tough, protective cases used by police, fire, military, and outdoor enthusiasts--said it has launched a set of rugged phone cases for the Apple iPhone 5/5S and Samsung Galaxy S 5.

Torrance 194