Berkonomics
JANUARY 20, 2022
Dave’s note: This is a reprint of a 2015 insight that seems to have struck a chord with investors and entrepreneurs. None of this advice has changed… Let me tell you a few short hair–raising stories of entrepreneurs who have raised money and regretted it later.
Berkonomics
MARCH 24, 2016
Dave’s note: This week we welcome guest author, David Friedman, to tell us about his favorite startup CEO, and his take after interviewing her – asking for her list of attributes for startup success. . I met Kirsten Mangers several years ago after she successfully sold her startup, Webvisible. Kirsten is the founder of ChickLabs , an incubator that focuses on helping primarily women entrepreneurs. Seven attributes of a highly successful start-up CEO.
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Both Sides of the Table
AUGUST 17, 2009
This is part of my ongoing series “ Start-up Lessons. &# If you want to subscribe to my RSS feed please click here or to get my blog by email click here. I often talk with entrepreneurs who are kicking around their next idea. Imagine you pour 5 years of your life into your next gig and it starts to become successful. When I hear entrepreneurs say that they’re kicking around ideas with friends I ask, “have you legally registered a company?&#
Berkonomics
MARCH 9, 2017
Starting a company is HARD – in so many ways. I read several years ago, that the average startup restaurant lasts only about a year. Restaurant startups would not top my list. We have years of real data to call upon: data that impacts both investors and entrepreneurs. Attempting to get to the number of real failures for all startups, not just those with angel group investments, Fortune Magazine published an article claiming that 90% of these startups do fail.
Berkonomics
OCTOBER 15, 2015
Let me tell you a few short hair-raising stories of entrepreneurs who have raised money and regretted it later. Here are some rules that entrepreneurs almost always ignore to their future peril. There’s a common expectation among entrepreneurs that seed money from family is great – letting close relatives in at the ground floor. This lesson is one that is not only hard to teach, but ignored by entrepreneurs on a regular basis. Starting up Raising money
SoCal Tech Calendar
MARCH 5, 2019
Tuesday, March 5, 2019 -- How to Raise Capital for your Start Up. Are you a Founder or Entrepreneur looking to raise money for your startup? This will be an opportunity to learn about the fundraising process from our expert panel and to learn about their real life experiences starting and funding their companies. Do you want interact with experienced Founders and Investors?
Tech Coast Venture Network
APRIL 22, 2010
Virgina Lorimor There are several options for financing a start-up business that tend to follow a natural course in a business’ development: Personal Investment. This is where all entrepreneurs have to start. Let’s say that the vast majority entrepreneurs fail to meet these criteria but for those that do, these are a valuable option. Groups like Tech Coast Angels and Octane hold pitch sessions to hear entrepreneurs sell their businesses.
Berkonomics
JANUARY 28, 2021
I can’t tell you how many times I’ve walked away from deals where the entrepreneur insists on a start-up pre-money valuation that is so high, no angel could expect to make a return upon the investment, even with a reasonable sales price for the company down the road.
Marty Zwilling
NOVEMBER 4, 2020
Every entrepreneur believes in their heart that their startup is more innovative and creative than their competitors. Yet none knows exactly
Berkonomics
NOVEMBER 4, 2016
There is a universal truth: fewer than one in a thousand start-ups meet or exceed their projected revenues in the periods planned. I thought then that the best way to value a start-up is to give value to those elements of progress by the entrepreneur or team that reduce risk of success. I should have done more about this subtle interpretation when first seeing this, and will attempt to make up for that now. Starting up Raising money
Berkonomics
DECEMBER 27, 2018
How to define “success” for a startup? After speaking with many entrepreneurs over the years, each defines success in his or her. Everyone has a vision when starting a business. We all see the examples of well-known successful entrepreneurs, many in our chosen field, who achieve success by anyone’s measure, and we optimistically expect to emulate these role models with at least some level of success. Starting up
Berkonomics
DECEMBER 27, 2018
How to define “success” for a startup? After speaking with many entrepreneurs over the years, each defines success in his or her. Everyone has a vision when starting a business. We all see the examples of well-known successful entrepreneurs, many in our chosen field, who achieve success by anyone’s measure, and we optimistically expect to emulate these role models with at least some level of success. Starting up
Berkonomics
OCTOBER 15, 2020
Investors love it when entrepreneurs draw little or no money from their startups. That amount is almost always higher, much higher, than the amount budgeted for the entrepreneur. Starting up Raising money
Berkonomics
MARCH 16, 2017
If you read last week’s analysis of statistics for startups and early stage businesses, you have learned the truth that at least half of the businesses backed by professional early stage investors will die within three years or less. That reality is a tough one for the professional investor, almost as tough as for those entrepreneurs who lose their businesses. The latter can start new businesses, flush with the experiences gained from the previous effort and much the better for it.
Berkonomics
FEBRUARY 21, 2019
I cannot tell you how many times I have seen executive summaries of business plans in which the entrepreneur seeks $5,000,000 to build the business. First, few startups can use that much money today with all the virtual services available and increasingly inexpensive methods of development, prototyping and marketing. The investors want a motivated entrepreneur, and it is certainly more difficult to motivate a twenty percent owner than a sixty percent owner.
Both Sides of the Table
MAY 13, 2010
I wrote several of the characteristics when I did the Top 10 (11) Attributes of an Entrepreneur. I see the CEO role of a growth company as often consisting of being “chief psychologist.&# You end up spending a lot of time listening to your staff, listening to customers, understanding human behavior / motivations, reviewing financial plans or GANTT charts and then having to make tough decisions because the one factor we ALL suffer from is limited resources.
Both Sides of the Table
DECEMBER 14, 2009
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. So what skills does it take to be a successful entrepreneur? Having been through the experience as an entrepreneur twice myself I have developed a list of what I think it takes.
Startup Professionals Musings
FEBRUARY 5, 2023
According to most definitions, an entrepreneur is one who envisions a new and different business, meaning one that is not a copy of an existing business model. Even fewer are able to grow the startup into a viable business. Startup and development stage.
Alon Schwartz
JANUARY 9, 2009
I’ve been an entrepreneur and in the startup business for many years now. I’ve also been involved and/or interested in conflicts and wars in Israel and other places to the point I began to see similarities between these two worlds: Startups and Wars. For example, starting a startup is like starting a war. Yes, you’ll need resources and funding but you can start relatively small and grow. No wonder they call startups “an uphill battle”.
Alon Schwartz
JANUARY 9, 2009
I’ve been an entrepreneur and in the startup business for many years now. I’ve also been involved and/or interested in conflicts and wars in Israel and other places to the point I began to see similarities between these two worlds: Startups and Wars. For example, starting a startup is like starting a war. Yes, you’ll need resources and funding but you can start relatively small and grow. No wonder they call startups “an uphill battle”.
Alon Schwartz
JANUARY 9, 2009
I’ve been an entrepreneur and in the startup business for many years now. I’ve also been involved and/or interested in conflicts and wars in Israel and other places to the point I began to see similarities between these two worlds: Startups and Wars. For example, starting a startup is like starting a war. Yes, you’ll need resources and funding but you can start relatively small and grow. No wonder they call startups “an uphill battle”.
Startup Professionals Musings
OCTOBER 1, 2022
Every entrepreneur I know is dismayed by the number of friends who approach them with a line such as “I have an even better idea that will change the world, and one of these days I’m going to get around to starting my own business.” Focus” is the key to success as an entrepreneur.
Both Sides of the Table
FEBRUARY 4, 2010
I started with a “top 11″ list – only because I couldn’t fit them into a top 10. But in the end I ended up with 12. But there are a lot of things that become norms in the VC industry that always drove me crazy from entrepreneur’s side of the table. Translation for any first time entrepreneurs can mean one of: a. So he left and focused on starting companies. In an entrepreneur I need to see the anti VC character.
Both Sides of the Table
SEPTEMBER 8, 2009
This is part of my ongoing series called “ Start-up Lessons.&#. I came across this blog post about getting a computer science degree as the best degree for getting into venture capital or working at a VC-backed start up. BCG, Bain, LEK – they’re all great), a few years at a start-up or a few years somewhere like Microsoft, Google, Amazon or Apple. I paid up for the diploma but can’t say that I saw better results.
Berkonomics
DECEMBER 6, 2018
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.
Both Sides of the Table
DECEMBER 21, 2009
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 started the series talking about what I consider the most important attribute of an entrepreneur : Tenacity. When looking for great entrepreneurs for me it’s not sufficient to find a large dose of one or two attributes. Well the second sign I had on the wall of my first startup was SITE.
Both Sides of the Table
DECEMBER 19, 2009
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 started the series talking about what I consider the most important attribute of an entrepreneur : Tenacity. Anyone who has been an entrepreneur before will tell you that much of being successful in the early days is about pure survival. All traits of an entrepreneur must be exercised in concert.
Berkonomics
NOVEMBER 29, 2018
First, know that the $16,000 average cost of research and filing a patent is only the start, even if your patent application is not opposed or even if the examiner is reasonably receptive to your brilliant idea. That’s a lot of money for a startup, and it multiplies quickly when your patent is published for comment or opposition or the examiner continues to deny claims. So, a patent could be damaging to the startup, not a barrier to entry. Starting up Protecting the busines
Both Sides of the Table
JANUARY 26, 2010
This is part of my series on what makes an entrepreneur successful. I originally posted it on VentureHacks , one of my favorite websites for entrepreneurs. I started the series talking about what I consider the most important attribute of an entrepreneur : Tenacity. I’ll start with an obvious one – I talk with the entrepreneur about competitors. The best entrepreneurs focus on details.
Both Sides of the Table
DECEMBER 18, 2009
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 started the series talking about what I consider the most important attribute: Tenacity. Resiliency – I like to say that “being an entrepreneur is really sexy … for those who have never done it.&# The reality is that it’s lonely, hard work, high pressure and filled with mundane tasks.
Tech Zulu Event
JANUARY 1, 2013
The final episode of Bravo’s Start-ups: Silicon Valley aired recently, wrapping up an 8-episode run of what could be considered the most bizarre depiction of entrepreneurs and start-ups to date. Anyone who lives and works in the start-up world knows that big gambles and intense pivots happen in business every day that could easily be TV-worthy. They sound serious about start-ups, however actions speak louder than words.
Startup Professionals Musings
AUGUST 30, 2021
Making the decision to start your own business is a major commitment, with huge implications for skills and lifestyle. These are not valid reasons to start a business. When you start your own business, you are no longer in control. Add up your responsibilities.
Both Sides of the Table
FEBRUARY 12, 2010
We started with our financial statements. So I changed things up and became much happier with my results. 1. Set two strategic topics per board meeting and start with them – I bet most of you feel that you have pretty talented people around the table but you get stuck talking about the minutiae of your business. But they were in a slide and people asked you questions so it ended up chewing up 30 minutes. Harder to do that when you have an 8am start.
Both Sides of the Table
JANUARY 29, 2010
This is part of my series on what makes an entrepreneur successful. I originally posted it on VentureHacks , one of my favorite websites for entrepreneurs. I started the series talking about what I consider the most important attribute of an entrepreneur : Tenacity. You need to be extremely gifted on some fronts to be enormously successful as an entrepreneur – but still human. Entrepreneurs play to win and they take losing seriously.
Both Sides of the Table
FEBRUARY 7, 2010
I started with a Top 10 list for Nivi (at VentureHacks), but I couldn’t cram it into 10 so it became a Top 11 list. 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. If you don’t have it – see if you can pick up team members that do.
Both Sides of the Table
NOVEMBER 2, 2014
In the article the author talks about the condition of the brain – which affects up to 11% of American children in which people with ADHD (or ADD, which doesn’t have hyperactivity) – in which people with ADD have a low tolerance for routine tasks and thus they seek out “novelty” The author believes this may have had an evolutionary advantage. If I’m not stimulated rather than rush the presenters or ask 10 questions I often start taking notes.
Berkonomics
MARCH 25, 2012
For those of us who’ve invested in early stage companies, especially technology startups, we have confronted a universal problem. 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. Starting up Raising money
Startup Professionals Musings
MARCH 15, 2023
As an advisor to entrepreneurs and active angel investor, I often get questions about the realism of the Shark Tank TV series, compared to professional investor negotiations. Yet the process is eerily realistic, and every entrepreneur can glean some important lessons.
Both Sides of the Table
DECEMBER 17, 2009
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 started the series talking about what I consider the most important attribute: Tenacity. I also wonder about the entrepreneur who would sign a term sheet that came from somebody they hadn’t gotten to know over time. Every entrepreneur starts with an idea that they believe makes sense.
Both Sides of the Table
FEBRUARY 14, 2010
Back in November I agreed with Nivi over at VentureHacks to do a series on the ten most important attributes of a successful entrepreneur. Unfortunately, I don’t believe it is perfectly correlated with what it takes to be a successful entrepreneur. When companies start to make huge sums of money it’s always easy for the media to question the integrity of the company. Tags: Entrepreneur Advice Start-up Advice Startup Advice
Both Sides of the Table
DECEMBER 16, 2009
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 started the series talking about what I consider the most important attribute: Tenacity. Street Smarts - OK, so you’re a tenacious person – you never give up. Well obviously that’s meaningless if your startup idea sucks. He was at a startup that was in a super hot sector.
Both Sides of the Table
MAY 23, 2010
Often when startups who have raised venture capital need another round of financing they will turn to their existing investors to give them money before raising from outsiders. It starts as a debt instrument (e.g. So startup CEO’s in this position make compromises that don’t necessarily benefit the long-term potential of the company. They likely are extending payments to debtors way beyond that expected payment terms and start damaging supplier relations.
Both Sides of the Table
JANUARY 5, 2010
This is part of my series on what makes an entrepreneur successful. I originally posted it on VentureHacks , one of my favorite websites for entrepreneurs. I started the series talking about what I consider the most important attribute of an entrepreneur : Tenacity. So we as VCs search for entrepreneurs/founders who have the whole package or as much of it as possible. Entrepreneurs are inherently risk takers. Tags: Start-up Advice
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