June, 2010

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It’s Better to Beg for Forgiveness than to Ask for Permission

Both Sides of the Table

I have always believed in the saying, “It’s better to beg for forgiveness than to ask for permission.&# It’s a way of life. It’s not about abusing situations but about knowing when to push the boundaries. It’s about knowing that the overwhelming number of people in life are naysayers and “no sayers&# and sometimes you gotta just roll the dice and say WTF.

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Multiple passes at the target

This is going to be BIG.

When Luke Skywalker had to drop a proton torpedo into a reactor vent shaft, he had one shot. Failure was not an option. Startups, on the other hand, have lots of little failures and successes over time. Growing a company is a process with lots of little iterations over time--just like fundraising. Just ask Dennis Crowely. He’s done it twice. The first time around, his meetings with Union Square Ventures didn’t result in a check—not until a little nudge got Fred thinking more ab

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Pay for frequent moves over risky long term leases

Berkonomics

One of the most obvious observations I make with growing company CEO’s is that planning for a new office is done with an optimistic view of the future, incorporating planned space that compromises only slightly the measured needs for the next three or more years as outlined in the financial forecast. The result, signing a lease for space enough to handle the growth called for in the plan, is a predictable group behavior I’ve come to label “The tyranny of the new office.

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Steven Blank Kills It at Greycroft CEO Summit

Both Sides of the Table

I’m typing this from the lawn of Alan Patricof’s “Greycroft” home in East Hampton – my first time in the Hamptons. Greycroft is Alan’s venture capital firm that recently raised its second fund ($130 million) with offices in both New York and LA. We learned this weekend that it was named after his East Hampton home. We’re here for Greycroft’s CEO Summit – a gathering of the CEO’s of their portfolio companies with guest speakers covering topics including how to build your team, PR, customer deve

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15 Modern Use Cases for Enterprise Business Intelligence

Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?

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Some Tips to Improve the Civility on Hacker News

Both Sides of the Table

Paul Graham and the folks over at YCombinator have done much to reenergize early-stage entrepreneurship and encourage the creation of many new and innovative startups including DropBox, Posterous, Loopt, Justin.TV, Scribd and many others. They also gave us Hacker News , which for me was a welcome addition for discovering tech stories. HN and Techmeme are the main two tech aggregators that I frequently skim.

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Outflanked, Not Outspent: The Real Story of Recruiting for Tech vs Wall St in NYC

This is going to be BIG.

You've heard the arguments before--Wall Street sucks up all the best talent in NYC and that's why its so tough to recruit here. They've been able to outspend on any good candidate and that's also why things have eased up lately--because the financial industry just isn't what it was and the jobs aren't there anymore. It's also why there's a fear that when the economy turns, so will Wall Street, and so will the giant sucking sound from the south (of Manhattan).

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Asking Questions More Effectively

Both Sides of the Table

The ability to ask questions effectively is one of the most important skills in business as is the ability to actively listen. Yet as important as these two skills are they really don’t seem to ever be taught in school. I wonder if more college students ought to take a journalism course for a semester or do an internship at their school newspaper in investigative reporting.

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This Week in VC with @VCMike Hirshland of Polaris Ventures

Both Sides of the Table

Here is the link to this week’s TWiVC with Mike Hirshland. I apologize for the audio quality – we did this in a rush because we found a last minute studio and recorded in San Francisco. But you can see & hear the entire interview well and I think it will be well worth your while. One of things I’ve loved the most about doing now 11 weeks of This Week in VC is a chance to have an hour-long recorded conversation with investors.

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This Week in VC with Om Malik & Paul Jozefak

Both Sides of the Table

To see the video of This Week in VC click on this link. What a pleasure that I got to spend an hour talking with both Om Malik (whom I’ve always respected his views) and Paul Jozefak , a venture capital partner at Neuhaus Partners in Germany (and formerly the head of Europe for SAP Ventures). We spent the first 45 minutes or so talking about industry trends (in this order): The history and background of True Ventures, one of my favorite early-stage VC’s (and the one with whom Om is

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How Top Tech CFOs Solve Annual Planning’s Biggest Challenges

Gearing up for 2025 annual planning? Our latest eBook from the Operators Guild is your ultimate guide. Discover real-world solutions and best practices shared by top CFOs, drawn directly from discussions within OG’s vibrant online community. Learn from senior executives at high-growth tech startups as they outline financial planning strategies, align CEO and board goals, and coordinate budgets across departments.

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This Week in VC with Mo Koyfman of Spark Capital

Both Sides of the Table

We had a special edition of This Week in Venture Capital this week shooting out of the Next New Networks offices in New York. Our guest was Mo Koyfman of Spark Capital. Spark Capital is relatively new to VC (founded in 2005) yet has become one of the hottest new VCs having invested in Twitter, Tumblr, AdMeld, Boxee, KickApps and many more companies.

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This Week in VC with Farb Nivi, Founder of Grockit

Both Sides of the Table

This was really a fun week at TWiVC because we decided to have an entrepreneur come and talk about raising capital rather than having a VC come on. We had Farb Nivi , who is the founder & CEO of Grockit , a website that enables online group learning. It’s always such a pleasure for me to spend time with Farb because he has all of the enthusiasm and energy you love to see in entrepreneurs.

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The Amazing Disappearing Angel Round—and why it’s worth preserving

This is going to be BIG.

I’m not even going to bother downloading Venture Economics data because I know it’s going to be garbage—most angel rounds aren’t tracked very well. That being said, is it me, or do more and more entrepreneurs seem to out there in the market essentially skipping the 500k-ish angel round? It’s a question I seem to be getting more and more often—why bother raising 500k if you can just grab a million or a million and a half?

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Women Need to Loosen Up (Their Networks!)

This is going to be BIG.

Last week I went to a Girls in Tech talk about women entrepreneurs and venture capital. There was a comment made in the crowd about why women seem to lag men when it comes to networking. The comment, made by a female, was essentially that women look to build and rely on deeper relationships and are less likely to use their loose connections for networking.

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Your Fractional Finance and Accounting Team

Mighty Financial specializes in supporting the financial aspirations of small businesses and entrepreneurs. With our comprehensive bookkeeping and precise accounting expertise with decades of experience across diverse financial roles, our team offers tailor-made services ranging from essential bookkeeping to strategic fractional CFO support, catered specifically to the unique challenges of technology companies, startups, and SMEs.

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Five people that I wish I had something more interesting to say to

This is going to be BIG.

One of the things I pride myself on is knowing a little about a lot of things. I can generally strike up at least a brief conversation with anyone—which helps a lot when your job is basically to talk to strangers. I do, however, have a huge amount of respect for anyone who has deep expertise in an area—who has found something they want to focus on and done the deep dive.

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Paul Carr’s Ironic Take on New York

This is going to be BIG.

Did you catch Paul Carr’s latest piece on Techcrunch ? In it, he mocks New York for being a “content town”. What does Carr do for a living again? Oh, that’s right… he’s a writer. On top of that, he writes for the company who took it’s latest conference, Disrupt, to a town trying to “stay relevant” as he puts it as the west coast internet companies are “bleeding it try”.

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When You’re a Hammer Everything Looks Like a Nail

Both Sides of the Table

Over the years I collected (or thought up) a series of short-hand phrases to remind me of life’s lessons that are applicable to business. One of my favorite ones is “what you’re a hammer everything looks like a nail.&# The definition is kind of obvious. We’re all biased by our backgrounds and tend to put forward solutions that our backgrounds suggest to us.

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Don’t Sweep Feedback Under the Rug

Both Sides of the Table

There are two things that have really surprised me in my years in “management&#. 1. How few people give their employees real feedback on a regular and formal basis. 2. How much employees crave this information, whether positive or negative. So my message to you if you work in a position where you have people reporting to you – don’t sweep feedback under the rug – even if it’s negative.

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Digitalization: 5 Tech Updates That Will Help You Survive The Recession & Thrive

Lack of digitalization decreases business competitiveness. To thrive, embracing modern solutions becomes essential. The approach to digitalization often aligns with a company's business model. This shift not only boosts productivity but also automates processes and improves security. The tech market offers a wealth of technologies tailored for management, planning, and forecasting, replacing outdated pen-and-paper methods.

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How Many Times Should You Tweet Your Blog Post?

Both Sides of the Table

Last September I was on a panel with Guy Kawasaki talking about Twitter. He said at the time that he Tweeted 4 times for every story that he wrote. FOUR TIMES! The exact same Tweet. I couldn’t believe it. His rationale was that he found that his audience was tuning into Twitter at several different times during the day and he found that four was the optimal number to convert enough of the people reading his posts into traffic back to his website.

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How do you manage and measure home-based employees?

Berkonomics

Do home-based employees work with the same dedication and productivity as those in office cubicles next to each other? That depends upon the management as much as the employee. I have a friend who is a CEO of a recruiting firm who “virtualized” her company after a decade of maintaining a fixed office location. She organizes morning conference calls, has each employee tweet the others in their department when starting work and ending the day, creates the feel of closeness with e

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I Don’t Get the Buzz about Buzz – Do You?

Both Sides of the Table

I sent out a Tweet tonight asking whether anybody uses Google’s Buzz product independently of Twitter. I got a pretty luke warm reaction. The overwhelming majority of people who responded gave one of three answers (paraphrased): It was turned on by default by Gmail. It’s annoying. I don’t get it? I use it to communicate with some Gmail friends who aren’t on Twitter (this was the minority).

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Does even a taste of ownership make a difference?

Berkonomics

How about incentives for employees all the way down the line and through the corporation? How do we align them to the goals and strategies of the enterprise? Obviously for the appropriate individuals, a bonus program aligned to the department’s goals is appropriate. But how about awarding stock options to all employees? . Tech companies, particularly early stage and startups, still award options aggressively.

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PE Mastery: CAPTARGET's Playbook for Quality Lead Flow

CAPTARGET presents a masterclass in M&A deal sourcing. Learn to cast a wide net, embracing seller self-identification. Consistency is the linchpin: keep the origination process steady for a reliable flow of opportunities. Diversify your tactics, employing various tools and vendors. Tech matters! Understand DNS settings, domain authority, and brand presence for optimal outreach.

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Sign short term leases early on. Move more often as you grow.

Berkonomics

Avoid long-term commitments. It is statistically true that at least half of the young companies funded by angel or venture investors will not survive three years from funding to demise. The greatest burden of either a growing company or one needing to retract and reduce expenses is the office lease. Although payroll is almost always the greatest cost, companies have flexibility as to how to handle both rapid growth and rapid decline in the personnel arena. .

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Review regularly and ACT upon results.

Berkonomics

Allowing small problems to escalate into big ones is simple. Just ignore the signs for long enough and the job is done. It takes far more energy to review regularly the key performance indicators you’ve established for each individual and yourself. But a small excursion caught early and corrected saves massive corrective resources later.

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How can we build a culture of responsibility?

This is going to be BIG.

In the days right after the BP oil spill, the CEO of BP blamed the builders of the well. In fact, it’s taken nearly a month for the company to announce anything even resembling a taking of responsibility. In the meantime, the image of the company—which had undergone a massive “green” rebranding just a few years ago—suffered irreparable damages. Most notable is the parody Twitter account BPGlobalPR , which has hijacked the #bpcares hashtag and cut the company down to size.

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