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This is part of my ongoing posts on Startup Advice. My advice: don’t. This was a reasonable achievement when you consider that it was 2001-02, one of the worst years to be selling enterprise software and we were selling it SaaS style, which was still evangelical back then. I’m not one of those. Your solution?
To anybody who asks my advice I repeat the same line, “I don’t know whether this party will last 6 weeks, 6 months or 18 months. An obvious example is Google who may have gotten less market attention if there would have been 8 well-financed competitors during the 2001-2005 timeframe. source: Capital IQ. But it will end.
I saw a few friends politely suggesting that “now was a great stock buying opportunity” meaning that given the stock market is off by 10% it was a great chance to buy and lock in presumably low prices before the market rises again. And by this I assume he meant that “market prognosticator twitter” was vomitous.
Drawing from the early chapters of her book, this post includes a target prospect list for new investors, along with relationship-building advice from experienced VCs. “This represents a huge opportunity for the startup community, and we are seeing lots of companies with a head start on this idea.”
If you want that advice please click on the link. Most of what I learned about operating startups I learned from the really tough years at my first company from 2001-2003. My company had raised venture capital in April 2001 but we were told that there may never be any more coming. He was there for me when I needed it.
VCs would return capital to LPs because they don’t see attractive investment opportunities that are good fits with their mandate, fund size, [and so forth]. Any advice to founders on this front? Now, if you were to tell me VCs were starting to return capital to LPs, I could see some parallels. It’s not the end of the world.
Again, this is highly individualized so no generic advice can be offered. But if you’re on the precipice of a big market opportunity then having more capital & resources can be critical. Anyone who meets with me privately these days gets this advice: The market is whack right now. Use it to your advantage.
There is all sorts of advice on the Internet about how to raise capital. I raised money as an entrepreneur, like you, in 1999, 2000, 2001, 2003 and 2005 for two different companies. I’ve tried to make this advice as well-rounded and biased free as I can. So they go out of their way to offer advice and introductions.
Blogs weren’t popularized yet so it was an oddity for me to read the founder of a software company spewing out advice. They didn’t focus on building for the web and they lost a great opportunity to win the transition to browser based applications. Lesson: Joel had been building a community of readers since 2001.
But most of all, he will go out of his way to help newcomers (as well as veterans) of the Austin tech scene whenever they need help or advice or counsel,” Forrest said. “We The whole ‘90s were the early days of the Internet and I saw a lot of opportunity,” Whurley said. But in 1999, he heard the siren song of the Internet and left.
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