Founderitis rips a blade across the throat of opportunity and buries potential in the soft sand of ego
Think of entrepreneurs as explorers. To survive and thrive, they have to confront an ever-changing world and wrestle with the future. If they don't, they die. They often do not and cannot know the exact course they must take to successfully realize their vision, but they have the courage to leave shore anyway. You gotta…
What happens when your great VC buddy who helped you through so much is gone?
A start-up that takes its fundraising seriously has to allow its CEO to tackle the project full-time for up to a year. The founders have studied the due diligence requirements ahead of the process, and they approach the investment community in an orderly and structured fashion. The founders and CEO work hard to listen to…
Real value does not come from the idea alone. Great ideas without execution are empty roadside soda cans
There were nearly 900 people seated at round tables alternating small talk with bites of chicken. The ballroom was glamorous, the chicken was dry and few paid attention to the joke-telling emcee. "My wife says that if I don't give up golf, she's going to leave me. I'm really going to miss her! Har har!…
Investing is a process and not a speed dating event. If you develop relationships with investors, you’ve got a much better shot of closing the deal
Getting a “no” from any prospective investor can be hard to take. At first glance, it’s insulting. You’ve poured heart and soul into an idea and after 10 minutes of pitching, the investor doesn’t want to hear more. For the entrepreneur who wears the success or failure of his company as a reflection of their…
Open communication with your VC can help you, your company and your longer-term prospect of later support
Everything is positive when a new venture begins. There is a rush of excitement, people are fully committed, hours are long and creativity is cranked to its peak. The traction, media attention or buzz will soon bring you to the notice of venture capitalists. Cash comes in and everyone is pumped up. The founders are…
Don't let your business success or failure define your worth as a person
Jody Sherman founded several companies. Some got bought out for modest success and others failed. Ecomom was his last startup. Management and staff tried hard but Ecomom didn't work and it burned. When Sherman saw no hope for Ecomom, he saw no hope for himself so he ended his own life. But there is more…
The venture capitalist is actually looking for a the reason not to invest in your company
It is an industry accepted standard that venture capitalists will fund one of 100 deals. Some entrepreneurs will not be given more than a few minutes to pitch, others will get a longer meeting, while a lucky few will move into a process of successive interviews and discussions. But, in the end, only one deal…
Learning these five facts - even if you don't want to hear them - will save you time and frustration
Every year hundreds of entrepreneurs and investors congregate at the base of the mountains at the Fairmont Banff Springs Hotel in Alberta. Over the course of two days, approximately 50 IT, life science and cleantech companies make their pitch to an audience of venture capitalists and angel investors. Panels, speakers and networking round out the…
Making the right connections and finding the right people will directly impact the level of success you achieve
When examining the who, what, where, when and why of any startup, it's the who that will most directly impact the level of success that is achieved. Making the right connections and finding the right people will be entirely reflected in the management team, staff, advisory board, customer list and availability of capital. While that…
Instead of pitching for investor money, start to focus on pitching for revenue
Most of us in the entrepreneurial space, whether building, supporting or funding early stage companies, assume attracting investor capital is just the normal course of business. We have been conditioned to believe or accept that once an entrepreneur gets a business underway raising investor capital is just part of the plan. Some entrepreneurs begin crafting…