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10 Key Business Plan Elements Not In A Product Spec

Startup Professionals Musings

As an advisor to new hardware entrepreneurs, I often hear the myth that a business plan is no longer required to find an investor, if your idea is good enough. What you don’t realize is these famous investors only deal with entrepreneurs who sold their last company for a $100M dollars or more. You need both to survive.

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Could you be the next Ford, Jobs or Musk?

Berkonomics

Leaders and companies that innovate new products, services and methods of delivery are the ones that stand out in a crowded business world, especially when attempting to gain recognition among the throngs of competitors visible on the web. They had no mantra, and a limited vision to connect mainframe computers to share academic information.

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Why You Should Put Yourself Out There and Try New Products

Both Sides of the Table

They thought it was like MySpace and why did I need a MySpace page? I had blogged when I was an entrepreneur. It was a break from information overload of Facebook. In 2015 I opened up my Facebook page to the public. Here’s the thing: If you never try new product and new networks you’ll never learn anything.

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5 Relationship Stages That Determine Business Success

Startup Professionals Musings

In the world of entrepreneurs and startups, high level relationships are everything. You need something specific from the other person – a loan, or product order, or help solving a problem. Limited information sharing (second floor). Real same-page connection (fourth floor). You can’t start a business alone.

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6 Guidelines For How And When To Use Non-Disclosures

Startup Professionals Musings

Most entrepreneurs I meet are reluctant to disclose anything about their idea to investors before getting a signed confidential disclosure agreement (CDA). Yet I can assure you that people who are paranoid, or want to avoid all risks, won’t be happy as entrepreneurs, so it’s all about balancing the risk-reward scale.

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10 Quotes You Should Never Use Around A Business Plan

Startup Professionals Musings

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. Too much detail at first contact is just as much of a turnoff as no information. Let me show you a demo rather than a business plan.”

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What Makes an Entrepreneur (3/11) – Ability to Pivot

Both Sides of the Table

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 also wonder about the entrepreneur who would sign a term sheet that came from somebody they hadn’t gotten to know over time. Great entrepreneurs pivot.