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How to define “success” for a startup? Everyone has a vision when starting a business. Then again, with the fifty percent rule, aren’t all entrepreneurs a bit insane to start? Starting upFifty 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. MORE
This is part of my ongoing series Startup Lessons Building companies is hard work. I started my first company in 1999 in London at the height of the dot com craze. Tags: Start-up Advice We also had facilities in Dublin, Ireland where our company was initially founded. We went through the euphoria of massive exposure at the time of our [.]. MORE
This post is part of my series “ Startup Lessons &#. Elephants, Deer and Rabbits – Some thoughts on start-up segmentation. I know that this advice won’t apply to every possible startup – but I think it applies to many. When you start your company the very first question you need to ask yourself is which kind of customers do you want to serve. It’s landing AT&T or Microsoft as a customer when you’re a start-up. MORE
We all like to think of startups as “non hierarchic&# organizations and to some extent that should be true. I see two common mistakes in companies (not just in startups, in fact). By going on sales calls you pick up directly the feedback of what customers want and also what they’re telling you about competition. Let information flow up but direct your staff and execute through hierarchy. MORE
Investors love it when entrepreneurs draw little or no money from their startups. You could start by charging more for your executive salary, then paying out less in cash, accruing the rest into a payable amount due to the entrepreneur. Starting up It extends the cash available for research and other necessary fixed costs and gives the fragile, young company more “runway” to get to breakeven. MORE
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. Tags: Start-up Advice startup In the Beginning … This is a very important post to me because I find myself giving this advice all the time and if you don’t follow [.]. MORE
There is nothing quite as thrilling in business as igniting a startup and watching it blossom. Especially when starting a company with personal savings or money from relatives and friends, early signs of success are intoxicating. Starting upEach new customer, each mention in the press or online adds to the feeling of early accomplishment. And it is more satisfying because it is yours, from idea to execution. The intoxication of a new beginning. MORE
Thursday, March 7, 2019 -- Global LAVA: Investing in Israeli Start-Ups. Panelists: Liron Brish - CEO of Farm Dog; Liat Sade-Sternberg - CEO of fuse.it; Guy Katsovich, co-founder of Fusion LA. See [link] (more MORE
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? MORE
Too many startup businesses, especially in the technology world, are built upon brand new concepts that have not yet been proven in the field against products from other companies that already have revenues flowing. Email readers, continue here…] Either way, very few startups can afford to forge new markets or create a product that does not fit into an existing class of increasing demand. Starting up Positioning MORE
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 MORE
Investors love it when entrepreneurs draw little or no money from their startups. Starting up Raising moneyIt extends the cash available for research and other necessary fixed costs and gives the fragile, young company more “runway” to get to breakeven. MORE
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. “OC’s Premier Incubator – Supporting Start-Up Businesses in Our Business Collective&#. Tags: Funding General financing funding startup MORE
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”. MORE
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. She is also the CEO of Immunogum, a start–up in Newport Beach, California. Seven attributes of a highly successful start-up CEO. MORE
Curisium, a Manhattan Beach–based start-up company that allows health care systems and biotech firms to contract through blockchain technology, has raised $3.5 million from investors, officials announced Thursday MORE
This is part of my ongoing series Startup Advice. Many startup companies hire advisory boards. If you plan to set one up – no problem. Advisory Board Problems : There are several problems that I have encountered myself and in my many discussions with CEO’s who have set up advisory boards. When they’re first approached it sounds exciting to be involved with a startup and if they’re offered free shares – why not? MORE
How to define “success” for a startup? Everyone has a vision when starting a business. Then again, with the fifty percent rule, aren’t all entrepreneurs a bit insane to start? Starting upFifty 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. MORE
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. The latter can start new businesses, flush with the experiences gained from the previous effort and much the better for it. Starting up Surrounding yourself with talentSo, what do you think is more important? MORE
This is part of my ongoing series on Startup Advice. As startup entrepreneurs we all want to work with them because having their name as reference clients makes it so much easier for marketing, PR, selling to other customers, fund raising and even recruiting. Plus, we’re all allured by the false sense that our contract with BigCo is going to “make us&# because once they start using us it will spread like wildfire and the revenue will flow in. MORE
Too many startup businesses, especially in the technology world, are built upon brand new concepts that have not yet been proven in the field against products from other companies that already have revenues flowing. Email readers, continue here…] Either way, very few startups can afford to forge new markets or create a product that does not fit into an existing class of increasing demand. Starting up Positioning MORE
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. MORE
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 MORE
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. MORE
First, few startups can use that much money today with all the virtual services available and increasingly inexpensive methods of development, prototyping and marketing. Second, almost no professional investor will consider putting that much into a startup until there is proof of market demand, product viability or some other mitigation of failure. A much more rational approach to starting up. Starting up Raising money MORE
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. Imagine you pour 5 years of your life into your next gig and it starts to become successful. Many times the answer is ‘no.&# The problem is that you’re opening yourself up to a claim by one of these people that you somehow stole their ideas. Starting with 25% is even harder. MORE
This is part of my ongoing series Startup Lessons. I started my first company in 1999 in London at the height of the dot com craze. It didn’t add up to me. Bad morale is the enemy of any company let alone a start up.&#. Because I had started reaching out to competitor CEO’s. Realize as a start-up you have much more in common with them in driving the industry adoption. They then start to think sinister thoughts. MORE
This is part of my ongoing posts on Startup Advice. There are people who tell startups that they should hire the most senior people that they can find. It is tempting because you not only see that they were VP Sales at 3 other startups but also that they have great access (according to their resume) to senior executives at companies you’re trying to target. Bringing in a senior person who’s “done it all before&# is often a mistake in a startup. MORE
Email readers, continue here…] Don’t take money, especially start-up loans, from unsophisticated investors. I was a co-lender and assumed the chairmanship of a young startup where the entrepreneur’s cousin also loaned money under the same terms. Starting up Raising moneyLet me tell you a few short hair-raising stories of entrepreneurs who have raised money and regretted it later. MORE
Everyone has a vision when starting a business. Then again, with the fifty percent rule, aren’t all entrepreneurs a bit insane to start? Starting up 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. . MORE
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”. MORE
Thursday, February 14, 2019 -- TCVN Legal Program #2: IP Protection Strategies For Start-Ups. TCVN now features four educational tracks in four specific areas. The four tracks are: Legal, Execution, Finance, and Marketing and will consist of a series of five, consecutive monthly programs designed to give the entrepreneur a comprehensive overview of each area. See [link] (more MORE
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. MORE
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. MORE
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”. MORE
This is part of my ongoing series on startup advice but also filed under my sales & marketing posts. No advice I give will ever apply to 100% of companies, 100% of startups or even 100% of tech startups. I just want to state that up front because while I believe that this post will apply to most startup technology companies out there, I’m sure there will be exceptions. Let me start by saying that most channel relationships don’t work. MORE
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. 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. And this includes all businesses, not just startups. Starting up MORE
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 MORE
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. MORE
This is part of my ongoing series with Startup Advice. BEFORE YOU START. Example: Work Experience can be broken down into: has managed a team, has led direct sales efforts, has worked for a startup before, etc. 2.Create a process - Create a process that you’ll use to recuit people before you start. When I run the process without a recruiter I set up a gmail account specifically for the job. I usually say right before I start interviewing (e.g. MORE
Wednesday, April 24, 2019 -- Start-up World Cup - Los Angeles Regional Pitch Competition. Startup World Cup is a global series of startup pitch competitions that is powered by Fenox Venture Capital and held in 40+ regions from around the world, where the top startup from each country comes to Silicon Valley and compete for a $1,000,000 USD investment prize! MORE
Tuesday, April 3, 2012 -- Digital LA - RealTech Start-up Showcase 2. Our second Digital LA - RealTech Startup Showcase features 5 startups, with a focus on social good / green start-ups. One will be an Audience Choice selection. We'll conclude with a 15-min keynote presentation by a Paige Craig, CEO of BetterWorks. MORE
There is no longer a guarantee that VCs and later stage investors will be waiting at the run-out point of the angel money to pick up and grow the company. But only accurate projections of cash by the week or month as appropriate will assure the survival of a business in a rapid growth cycle, or even a startup raising just enough to make it to breakeven. Cash is everything to a new business. How many times do we have to say this? MORE
This is part of my ongoing series Startup Advice. When you’re an early-stage startup that hasn’t raised any institutional money you end up doing almost every job function of the company yourself. When I founded my first company along with Brian Moran (whose idea it was) I had no real experience running startups. We had to ramp up our team quickly and ramp we did. He was to head up UK operations. And this is how it should be in startups. MORE
Startup Related Topics 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. Tags: Start-up Advice startup In the Beginning … This is a very important post to me because I find myself giving this advice all the time and if you don’t follow [.].
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. Imagine you pour 5 years of your life into your next gig and it starts to become successful. Many times the answer is ‘no.&# The problem is that you’re opening yourself up to a claim by one of these people that you somehow stole their ideas. Starting with 25% is even harder.
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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. She is also the CEO of Immunogum, a start–up in Newport Beach, California. Seven attributes of a highly successful start-up CEO.
Both Sides of the Table
AUGUST 28, 2009
This is part of my ongoing series Startup Lessons Building companies is hard work. I started my first company in 1999 in London at the height of the dot com craze. Tags: Start-up Advice We also had facilities in Dublin, Ireland where our company was initially founded. We went through the euphoria of massive exposure at the time of our [.].
Both Sides of the Table
AUGUST 28, 2009
This is part of my ongoing series Startup Lessons. I started my first company in 1999 in London at the height of the dot com craze. It didn’t add up to me. Bad morale is the enemy of any company let alone a start up.&#. Because I had started reaching out to competitor CEO’s. Realize as a start-up you have much more in common with them in driving the industry adoption. They then start to think sinister thoughts.
Berkonomics
NOVEMBER 21, 2013
There is no longer a guarantee that VCs and later stage investors will be waiting at the run-out point of the angel money to pick up and grow the company. But only accurate projections of cash by the week or month as appropriate will assure the survival of a business in a rapid growth cycle, or even a startup raising just enough to make it to breakeven. Cash is everything to a new business. How many times do we have to say this?
SoCal Tech Calendar
APRIL 22, 2019
Wednesday, April 24, 2019 -- Start-up World Cup - Los Angeles Regional Pitch Competition. Startup World Cup is a global series of startup pitch competitions that is powered by Fenox Venture Capital and held in 40+ regions from around the world, where the top startup from each country comes to Silicon Valley and compete for a $1,000,000 USD investment prize!
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. “OC’s Premier Incubator – Supporting Start-Up Businesses in Our Business Collective&#. Tags: Funding General financing funding startup
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. 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. And this includes all businesses, not just startups. Starting up
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.
Berkonomics
OCTOBER 15, 2015
Email readers, continue here…] Don’t take money, especially start-up loans, from unsophisticated investors. I was a co-lender and assumed the chairmanship of a young startup where the entrepreneur’s cousin also loaned money under the same terms. Starting up Raising moneyLet me tell you a few short hair-raising stories of entrepreneurs who have raised money and regretted it later.
Berkonomics
OCTOBER 15, 2020
Investors love it when entrepreneurs draw little or no money from their startups. Starting up Raising moneyIt extends the cash available for research and other necessary fixed costs and gives the fragile, young company more “runway” to get to breakeven.
SoCal Tech Calendar
MARCH 28, 2012
Tuesday, April 3, 2012 -- Digital LA - RealTech Start-up Showcase 2. Our second Digital LA - RealTech Startup Showcase features 5 startups, with a focus on social good / green start-ups. One will be an Audience Choice selection. We'll conclude with a 15-min keynote presentation by a Paige Craig, CEO of BetterWorks.
Berkonomics
DECEMBER 27, 2018
How to define “success” for a startup? Everyone has a vision when starting a business. Then again, with the fifty percent rule, aren’t all entrepreneurs a bit insane to start? Starting upFifty 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.
Berkonomics
DECEMBER 27, 2018
How to define “success” for a startup? Everyone has a vision when starting a business. Then again, with the fifty percent rule, aren’t all entrepreneurs a bit insane to start? Starting upFifty 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.
Berkonomics
FEBRUARY 21, 2019
First, few startups can use that much money today with all the virtual services available and increasingly inexpensive methods of development, prototyping and marketing. Second, almost no professional investor will consider putting that much into a startup until there is proof of market demand, product viability or some other mitigation of failure. A much more rational approach to starting up. Starting up Raising money
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
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”.
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. The latter can start new businesses, flush with the experiences gained from the previous effort and much the better for it. Starting up Surrounding yourself with talentSo, what do you think is more important?
L.A. Business Journal
DECEMBER 14, 2017
Curisium, a Manhattan Beach–based start-up company that allows health care systems and biotech firms to contract through blockchain technology, has raised $3.5 million from investors, officials announced Thursday
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
SEPTEMBER 7, 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.
SoCal Tech Calendar
MARCH 1, 2019
Thursday, March 7, 2019 -- Global LAVA: Investing in Israeli Start-Ups. Panelists: Liron Brish - CEO of Farm Dog; Liat Sade-Sternberg - CEO of fuse.it; Guy Katsovich, co-founder of Fusion LA. See [link] (more
Both Sides of the Table
SEPTEMBER 16, 2009
This post is part of my series “ Startup Lessons &#. Elephants, Deer and Rabbits – Some thoughts on start-up segmentation. I know that this advice won’t apply to every possible startup – but I think it applies to many. When you start your company the very first question you need to ask yourself is which kind of customers do you want to serve. It’s landing AT&T or Microsoft as a customer when you’re a start-up.
SoCal Tech Calendar
FEBRUARY 8, 2019
Thursday, February 14, 2019 -- TCVN Legal Program #2: IP Protection Strategies For Start-Ups. TCVN now features four educational tracks in four specific areas. The four tracks are: Legal, Execution, Finance, and Marketing and will consist of a series of five, consecutive monthly programs designed to give the entrepreneur a comprehensive overview of each area. See [link] (more
Berkonomics
NOVEMBER 21, 2018
There is nothing quite as thrilling in business as igniting a startup and watching it blossom. Especially when starting a company with personal savings or money from relatives and friends, early signs of success are intoxicating. Starting upEach new customer, each mention in the press or online adds to the feeling of early accomplishment. And it is more satisfying because it is yours, from idea to execution. The intoxication of a new beginning.
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.
Berkonomics
DECEMBER 13, 2018
Too many startup businesses, especially in the technology world, are built upon brand new concepts that have not yet been proven in the field against products from other companies that already have revenues flowing. Email readers, continue here…] Either way, very few startups can afford to forge new markets or create a product that does not fit into an existing class of increasing demand. Starting up Positioning
Berkonomics
DECEMBER 13, 2018
Too many startup businesses, especially in the technology world, are built upon brand new concepts that have not yet been proven in the field against products from other companies that already have revenues flowing. Email readers, continue here…] Either way, very few startups can afford to forge new markets or create a product that does not fit into an existing class of increasing demand. Starting up Positioning
Both Sides of the Table
OCTOBER 22, 2009
This is part of my ongoing posts on Startup Advice. There are people who tell startups that they should hire the most senior people that they can find. It is tempting because you not only see that they were VP Sales at 3 other startups but also that they have great access (according to their resume) to senior executives at companies you’re trying to target. Bringing in a senior person who’s “done it all before&# is often a mistake in a startup.
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
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.
Berkonomics
DECEMBER 23, 2011
Everyone has a vision when starting a business. Then again, with the fifty percent rule, aren’t all entrepreneurs a bit insane to start? Starting up 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. .
Both Sides of the Table
MARCH 21, 2010
This is part of my ongoing series on Startup Advice. As startup entrepreneurs we all want to work with them because having their name as reference clients makes it so much easier for marketing, PR, selling to other customers, fund raising and even recruiting. Plus, we’re all allured by the false sense that our contract with BigCo is going to “make us&# because once they start using us it will spread like wildfire and the revenue will flow in.
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.
Berkonomics
DECEMBER 12, 2013
Investors love it when entrepreneurs draw little or no money from their startups. You could start by charging more for your executive salary, then paying out less in cash, accruing the rest into a payable amount due to the entrepreneur. Starting up It extends the cash available for research and other necessary fixed costs and gives the fragile, young company more “runway” to get to breakeven.
Both Sides of the Table
MARCH 27, 2010
This is part of my ongoing series with Startup Advice. BEFORE YOU START. Example: Work Experience can be broken down into: has managed a team, has led direct sales efforts, has worked for a startup before, etc. 2.Create a process - Create a process that you’ll use to recuit people before you start. When I run the process without a recruiter I set up a gmail account specifically for the job. I usually say right before I start interviewing (e.g.
Both Sides of the Table
OCTOBER 11, 2009
This is part of my ongoing series Startup Advice. Many startup companies hire advisory boards. If you plan to set one up – no problem. Advisory Board Problems : There are several problems that I have encountered myself and in my many discussions with CEO’s who have set up advisory boards. When they’re first approached it sounds exciting to be involved with a startup and if they’re offered free shares – why not?
Both Sides of the Table
OCTOBER 15, 2009
This is part of my ongoing series Startup Advice. When you’re an early-stage startup that hasn’t raised any institutional money you end up doing almost every job function of the company yourself. When I founded my first company along with Brian Moran (whose idea it was) I had no real experience running startups. We had to ramp up our team quickly and ramp we did. He was to head up UK operations. And this is how it should be in startups.
Both Sides of the Table
FEBRUARY 23, 2010
This is part of my ongoing series on startup advice but also filed under my sales & marketing posts. No advice I give will ever apply to 100% of companies, 100% of startups or even 100% of tech startups. I just want to state that up front because while I believe that this post will apply to most startup technology companies out there, I’m sure there will be exceptions. Let me start by saying that most channel relationships don’t work.
Both Sides of the Table
JULY 1, 2010
We all like to think of startups as “non hierarchic&# organizations and to some extent that should be true. I see two common mistakes in companies (not just in startups, in fact). By going on sales calls you pick up directly the feedback of what customers want and also what they’re telling you about competition. Let information flow up but direct your staff and execute through hierarchy.
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