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The startup ecosystem is a terrific manufacturer of bad fundraising advice. They’ll tell you all about their strategy, the order of operations of who and how they pitched, the magic slides, the timing of the raise itself, etc. Is that a good strategy? Was she just an anomaly or is there something else going on here?
Marc Andreessen kicked off another great debate on Twitter last night , one that I’ve been talking about incessantly in private circles for the past 2-3 years – what actually IS the definition of a seed vs. A-round. Whom you take advice from really matters. My personal definition? Nobody cares. So back to reality.
I recommend you read Fred Wilson’s recent blog post about the need for a well articulated business strategy before pushing a particular business model. I guess this is the ultimate definition of implementing a business model when you’re not clear on strategy! The Need for Strategy. That’s Sofa King true.
Don''t get me wrong, VCs (at bigger funds than mine) do quite well and are definitely in the top 1%, but the money that most VCs will see over a decade, partners at Blackstone probably made last year. All in all, not exactly a predictable lead sourcing strategy. There''s no filter for that on Crunchbase.
That’s the classic definition of Grin Fucking. Accenture always had a chip on it’s shoulder in strategy consulting – especially compared with McKinsey, BCG and Bain. We called it “integrated strategy.&# I actually think from a marketing perspective it could have been brilliant. The title IS the post.
Marc Andreessen kicked off another great debate on Twitter last night, one that I’ve been talking about incessantly in private circles for the past 2-3 years – what actually IS the definition of a seed vs. A-round. My view: “Spending any time or energy trying to game the ‘definition’ of your round of fund raising is a total waste.
The terms “CTO&# and “VP Engineering&# have such stigmas associated with what they are that I’m sure some people will feel uncomfortable with the definitions I’ve put forward. But for non-technical founders let me offer you a definition that you can use when you build a team. Tags: Start-up Advice.
Most strategies are some combination of innovation and best practices along the classic five steps of venture investing: See, Pick, Win, Service, Exit. What’s my needle magnet definition? What are, in my mind, some examples of needle magnet strategies that exist today? This post is about ‘seeing.’
This is part of my Startup Advice series of posts. But it’s not my strategy. I definitely don’t rule out first timers – I just invested in one to be announced soon who I am really excited about – but I greatly prefer experience. Most of it is BS) and thought about them much over the years.
You may feel as I did in 1999 that the more smart people around the table the more intros you’ll have, the more sage advice you’ll receive and the more impressive you’ll seem to outsiders. By definition you can’t have 3 investors each wanting to increase from 5% to 20% ownership or you’re fawked anyways.
But for my sins I got an MBA and did “strategy&# consulting. In 1999 I was in Japan doing a strategy project for the board of directors of Sony. Being the number one investment bank in a greatly reduced data set shouldn’t stop you from wanting to broaden the definition of “number 1″ next year.
One strategy I often employ. It definitely is an IQ test thing for me. Tags: Entrepreneur Advice Start-up Advice Startup Advice. My constituencies were broad and I felt like going deep into one single area would have bored large groups of the people on any topic I picked. People say this all the time.
Post MBA I went into strategy consulting where my job was to problem solve for clients. This is a problem for a strategy consultant because you are, by definition, a generalist that is thrown into new problems again and again. Tags: Startup Advice. .&# It was appropriate for my job and stage of career.
There’s no need for long-term strategy or a plan for growth because there’s no risk if your venture fails to attract clients. Being a solopreneur, by definition, means going it alone. You can join business groups and share advice with other solopreneurs. Strategy involves long-term planning. Running a business.
We tend to do more $3 million “A&# rounds and we look for companies that have an early monetization strategy. In content creation we definitely have assets other markets don’t have. Tags: Entrepreneur Advice Launchpad LA SoCal Stuff Start-up Advice Startup Advice. LA investors are more pragmatic.
Otherwise you’re not serious and you’ll never get the right job so don’t bother.&# Definitely gets shock value. Why do I give this blunt advice? That’s a great strategy. Tags: Entrepreneur Advice Start-up Advice Startup Advice. At least I have their attention. Lots of reasons.
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. By all means light up my comments sections with any cases you believe where this advice doesn’t apply.
She debates manufacturing strategies. In the most perfect sense of the definition. Startup Advice' She won me over at first meeting. Soleil returns emails at 1.30am. She flies from LA to NY every two weeks. She helps write press releases. Turns out she’s done this startup thing before. They are yin & yang. Kara as CEO.
Rincon is part of the new breed of Seed Stage VCs and with the leadership of Jim Andelman has charted out the most authentic early-stage investment strategy in Southern California. If you haven’t read it you should definitely buy it – other people just like you did. Tags: Raising Venture Capital Startup Advice.
But if you identify investors with whom you’d like to work here’s my advice: 1. Everyone has their own definition of momentum (user numbers, revenue, channel partners, biz dev deals, whatever). I acknowledge that some investors have as their strategy to make lots of small bets. That’s OK, too.
I'm sure each of those guys got questioned by entrepreneurs as to why they should accept advice from them as opposed to the entrepreneurial veterans of the days who worked in VC. As my colleague Phin mentioned the other day, there are two types of bad advice you can give--one is to give bad advice in an area you should know something about.
I will start from a passage from the Wikipedia definition because I think it does a great job of summarizing. Need to Talk More than Listen – If I attend meetings where I’m not speaking my brain will definitely wander. I’m sure all the doctors are cringing much like I would if I read your fund-raising advice.
I highly recommend this strategy for any company who doesn’t care about referenceable customers. By definition you will either get a crappy SI promising you they will move mountains or a great SI that gives you their C-player team. doesn’t care as much about the successful outcomes as I do).
One strategy I sometimes employ. It definitely is an IQ test thing for me. Startup Advice' Don’t write sentences on them – only key words to help you remember what you’re going to say. If you write sentences you’ll read them and you’ll … suck. People say this all the time.
By definition, you read blogs. I was meeting regularly with entrepreneurs and offering (for better or for worse) advice on how to run a startup and how to raise venture capital from my experience in doing so at two companies. Or “I’m a new entrepreneur, why would I offer advice on how to run a startup?&#.
As an independent woman with a go-getter attitude, she shared insights with us into her life as an entrepreneur and what it was like getting YHS off the ground, as well as her advice for other young entrepreneurs in Latin America and the Caribbean. It was definitely a challenge, but one she has overcome to help her organization grow.
There are definitely times where a more narrowly defined question makes sense and where you want to guide the person you’re talking with to a narrow boundary to illicit a certain type of response. I’ll likely write about other question strategies at a later time. You might be surprised how much you learn.
If you've been wanting to learn a new skill or even strengthen existing ones, here are the seven tried-and-trued strategies I used to boost my expertise—and how you can, too. Now that we're on the same page, let's dive into the seven strategies you can use to learn a new skill or enhance the ones you already have.
I’m no great scholar on bubbles – I have more interesting things to spend my time worrying about than the exact definition , but having been around a few I have at least given them intellectual consideration. Exactly the opposite of what a rational investment strategy would advise. We are definitely still open for business.
That is the definition of Disruptive Technology. You also need to develop an O&O (your own websites) strategy. But one strategy we’re employed at Maker is to build related types of content into “networks” that are branded and can attract loyal audiences. Startup Advice'
Invest in Tax Strategy. Our most effective tax strategy was to open two businesses in Puerto Rico, where we pay only 4 percent in corporate taxes. My real estate strategy is to buy apartment complexes where we can implement our Infinite Return model. Invest in Life Insurance. Invest in Stocks.
Rather, we guide founders to build a strategy that helps them understand when to grow, when to pull back, when to spend and when to save. The best founders take as much advice as they can, but they know their business well enough to understand what will work and what won’t. We say: Don’t let the financial markets dictate your strategy.
And why my advice to newer VCs would be not to feel bad if you’re missing out on what is perceived as a few hot deals. The biggest difference from experience is that in bad markets people without venture capital experience or strategies are the first to the exit. By definition this means others will doubt you.
If that isn’t the original definition of “angel” money I don’t know what is. On my trip I also gave my usual advice to entrepreneurs who don’t live in a major tech funding hub: Find VCs who are from your area originally. CincyTech today has $28.5 million under management across three funds.
was definitely in the bucket of amazingly talented founders with a great product that hadn’t yet proved product/market fit. “ I’d rather be solving intellectual challenges and figuring out key strategies, not debating which employees should get a promotion, or configuring project timelines.” Startup Advice'
HW: The whole ‘get on rocketships without worrying about seats” – you ended up moving through Instacart in a variety of business and strategy roles before assuming the President role. What advice do you have for people in fast-growing companies about being a team-player but also taking advantage of the unique opportunity it provides?
You can still take advantage of all the small business advice that was shared throughout the event. You can still listen to the whole thing, but we wanted to share some of our favorite moments and pieces of small business advice. Awesome small business advice! Great small business advice from Jason! Thanks, Steve!
This financial leader could well have come through the finance org at another startup or at a larger company but they often also can come from strategy consulting (Bain, BCG or McKinsey) or through investment banking (Goldman Sachs, Morgan Stanley, etc.). I will miss my daily interactions with Sam.
I have figured out the ultimate VC fund strategy. That wasn't a bubble bursting issue--that was a poor financing strategy issue of people getting caught with their pants down, hands in the cookie jar, and all the metaphors you can think of at once. I'm not a big fan of strategies that require *more* intelligence on behalf of VCs.
It can be a good strategy to bring just the CEO because 1-on-1 rapport is easier to build but if you have equally strong co-founders bring them. Problem definition (with the market … it’s why you exist). Who should attend the meeting? 1 or more can attend first meeting depending on strength of your team.
And then I got into strategy consulting, and I wanted to go into strategy consulting, and they said, “Yeah, but you’re a tech guy. We don’t take tech guys in the strategy consulting group.” Probably the internet helped because they needed internet skills in their strategy group. Startup Advice'
Here’s a framework for how it can help drive success at your company: Strategy, People, Image, Finance and Systems for compliance, or “SPIFS.”. By generic definition, the board of directors consists of elected individuals that represent shareholders. Do I have the right go-to-market strategy? What problem am I solving?
I’m sure everybody has their own definition of the attributes of an entrepreneur. Our advice is what helped them target the right market, hire the right team, build the right products.&# And there are some delusional people who really believe it. High stress. It only looks sexy when you read TechCrunch. And I mean this.
Exit Strategy: Does a startup have a clear exit strategy in place? In other words, does the business have a definitive timetable or pathway towards returning an investor's money alongside an agreed portion of generated revenue? Sustainability: Some startups by their very nature may be “flash-in-the-pan.”
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