Startup Professionals Musings

MARCH 17, 2023

Most entrepreneurs spend far too much time thinking negatively about competitors, and can’t resist making derogatory statements to their own team, to investors, and even to customers. As an investor, I always listen carefully to what an entrepreneur says, and does not say, about competition.

Competition 111

Competition Entrepreneur Patents Customer 111

Startup Professionals Musings

SEPTEMBER 19, 2022

Every entrepreneur believes that their product or service is memorable, and that every customer will quickly see the advantage over competitors. Differentiation is still a key requirement for a successful startup rollout, and but it must be sustainable to keep ahead of new competition. Trying to be all things to all people never works.

Competition 123

Competition Customer Custom Examples 123

socalTECH

FEBRUARY 14, 2011

Investors are very focused on diligence, on business models that make sense, and those companies that have a definite competitive advantage and defensibility to what they're doing. Mike Napoli: Actually, we are seeing entrepreneurs. Mike Napoli: I think it was the entrepreneur.

Tech Coast Angels 231

Tech Coast Angels Technical Review Angel Southern California 231

Startup Professionals Musings

SEPTEMBER 23, 2020

A continuing question I hear from young entrepreneurs is whether a university degree is important to startup success, or just a distraction in achieving their purpose in the world. For example, I do business mentoring at nearby Arizona State University and Embry-Riddle Aeronautical University. Learning by doing is the only way to go.

Entrepreneur 157

Entrepreneur Mentor Class Resource 157

Both Sides of the Table

OCTOBER 26, 2020

leadership, mentorship, competitiveness, communications, relationship-building?—?and Kara will now be really involved with what goes on to successfully create and run a firm but while still handling her core duties of funding great entrepreneurs. He launched our scout program as an example. And all the platform stuff.

Venture Capital 361

Venture Capital Startup Invest CitySearch 361

Both Sides of the Table

AUGUST 10, 2013

It’s only 12 minutes long and if you’re a first-time entrepreneur (or second time, frankly) I encourage you to watch it if for nothing else than to get a sense that your struggles are universal. This naive optimism is why I believe younger entrepreneurs are more likely to produce insanely big outcomes.

Startup 412

Startup Press Course Entrepreneur 412

InfoChachkie

AUGUST 4, 2014

In fact, for the past 27-years, he has specialized in bringing exotic travel destinations to those of us who are healthy and active but whose competitive sporting days are long behind us. If you could share one startup lesson with a young entrepreneur, what would it be? Ever fantasized about climbing Mt. but we don''t.

Entrepreneur 187

Entrepreneur Startup Social Media Advertising 187

Both Sides of the Table

JANUARY 12, 2014

The starting point of product IS marketing, which is what a lot of young entrepreneurs that never studied business don’t realize. SEO / SEM are promotional techniques for marketing through the Google distribution channel, which have yielded huge benefits to many companies – Yelp being a prime example.

Marketing 379

Marketing Startup SEM SEO 379

Startup Professionals Musings

FEBRUARY 5, 2020

As a mentor to entrepreneurs, I tend to see many of the same obstacles appearing in every new startup, and since I don’t want to appear to be a downer , I’m not sure how to properly warn people ahead of time to be on the alert for these challenges. Too many entrepreneurs think that expert external advisors are suspect, or will slow them down.

Startup 131

Startup Entrepreneur Examples Customer 131

Startup Professionals Musings

JANUARY 17, 2020

Although most people believe that being a successful entrepreneur is all about having the right idea, I’m convinced from my years of experience as a startup advisor and investor that’s it’s more about you as a person. The best entrepreneurs are not just dreamers of the next big thing – they have to be great facilitators and problem solvers.

Entrepreneur 129

Entrepreneur Examples Blogging Customer 129

Both Sides of the Table

APRIL 27, 2013

And I am often approached by entrepreneurs in cities which don’t have a vibrant VC community. Take me for example. Thus, a desire to invest more locally where I think I have a competitive advantage. Examples include DataSift (San Fran & London), MyTime (SF) and awe.sm (SF). I travel the country a lot.

Venture Capital 365

Venture Capital Marketing Santa Barbara Startup 365

Startup Professionals Musings

DECEMBER 7, 2019

Thus, in my consulting with entrepreneurs, I always encourage them to get more comfortable asking for help. She suspects, like me, that no self-respecting entrepreneur wants to seem weak, needy, or incompetent, and none of us like to feel indebted to someone we see as a peer or a competitor.

Help 123

Help Entrepreneur Course IBM 123

TechCrunch LA

SEPTEMBER 21, 2018

High-profile entrepreneurs and investors, Peter Thiel, for example , have left. “It’s hard to make a difference in San Francisco as a single entrepreneur,” said J.D. “It’s not as a hard to make a difference as a successful entrepreneur in Columbus, Ohio.” ” J.D. Here's why.

Venture Capital 279

Venture Capital Startup Capital Entrepreneur 279

Startup Professionals Musings

FEBRUARY 14, 2021

In their passion and excitement about a new product or service, entrepreneurs tend to continually narrow the scope of potential competitors, and often claim to have no direct competitors. First to market, for example, is not normally a sustainable advantage for startups. A narrow scope doesn’t help your case either.

Competition 166

Competition Funding Startup Patents 166

Both Sides of the Table

NOVEMBER 15, 2014

I then got my MBA at University of Chicago so I secretly pull for local entrepreneurs as long as they don’t make me visit in the Winter any more. For example, Lookout is a mobile security company that was founded by three talented graduates of USC. No – I’m not worried about the competition.

Company 369

Company Companies Startup Snapchat 369

Berkonomics

DECEMBER 5, 2013

It is most often missed assumptions about the market, the competition, the speed of adoption, or other critical metrics you’ve researched, or selected, or even just guessed at to create your plan. Without a trace of how the business will get that one percent, the entrepreneur confidently shows that this is all it takes to make us all rich.

Metrics 239

Metrics Startup Marketing Demand 239

Startup Professionals Musings

DECEMBER 13, 2021

In my role as mentor to many of you aspiring entrepreneurs, I often find you convinced that all you need to start is a unique innovation or idea , and now you are ready to jump in with both feet and enjoy the ride. Remember that being an entrepreneur is all about starting and running a business, after the initial invention.

Satisfaction 135

Satisfaction Entrepreneur Startup Mentor 135

Startup Professionals Musings

SEPTEMBER 13, 2021

You can’t survive as an entrepreneur without resilience, because you are going to fail at least once, maybe multiple times. If you need more evidence that great entrepreneurs survived through resilience, just look into the backgrounds of more recent entrepreneurs like Steve Jobs, Bill Gates, and Elon Musk. Then they get it done.

Entrepreneur 138

Entrepreneur Guide Activity Design 138

Both Sides of the Table

FEBRUARY 17, 2011

This conversation seems to come up very frequently these days both with portfolio companies and with entrepreneurs just looking for mentorship. I like to tell entrepreneurs that the “fairway&# of fund raising is 25-33% per round. Only … ONLY … if there’s a sense of competition on the deal. 25% dilution).

Help 303

Help Startup Competition Framework 303

Both Sides of the Table

FEBRUARY 27, 2010

In my bones I’m convinced that entrepreneurs are more nature than nurture although I know both are involved. I have recently written extensively on what I believe the 12 characteristics of an entrepreneur are. Entrepreneurs aren’t born, they’re made.&# The data in this article is at best, a stretch. from a young age.

Startup 289

Startup Statistics Entrepreneur Study 289

Both Sides of the Table

MARCH 30, 2011

The part of the movement that resonates the most with me (in my words) is that entrepreneurs should keep their capital expenditures really low while they’re experimenting with their product and determining whether there is a large market for what they do. This benefits you, the entrepreneur. It takes options off of the table.

Development Team Review 374

Development Team Review Technical Review Startup Resource 374

Both Sides of the Table

AUGUST 30, 2010

I’ve written about the topic of convertible debt at length before specifically about how angels & entrepreneurs should think about pricing. Clearly this is is a trend and a topic that is interesting entrepreneurs. In fact, in some ways can be worse for the entrepreneur. a priced/valued preferred stock financing)?

Equity 319

Equity Pricing Venture Capital Entrepreneur 319

Both Sides of the Table

DECEMBER 27, 2011

” I mention journalists here because they perpetuate the myth that focusing on profits is ALWAYS the right answer and then I hear many entrepreneurs (and certainly many “normals”) repeating the same mantra. I have had this discussion with many a first-time entrepreneur. For example, look at the following graph.

Startup 418

Startup Venture Capital Sales Technical Review 418

InfoChachkie

JANUARY 6, 2011

Pull Quote: “If you are smart, competitive, hard working and passionate about what you do you will have the best experience of your life. With that said, what books, blogs or other resources do you recommend for emerging entrepreneurs? Of course, there was so little competition back then so it easier to find uncharted territory.

Entrepreneur 232

Entrepreneur Competition Software Review Course 232

Startup Professionals Musings

FEBRUARY 27, 2023

Most aspiring entrepreneurs look to their alma mater, or any university, as a source of classes that can help them, but neglect to think outside the box or take advantage of all the other resources to be found there. Access to entrepreneurs-in-residence, business mentors. Access to intellectual property and current research.

Entrepreneur 110

Entrepreneur Class Startup Resource 110

InfoChachkie

OCTOBER 20, 2014

Want to be an entrepreneur? In addition, Entrepreneur Magazine recently included UCSB in its Top 50 Schools For VC Backed Entrepreneurs at number 37. The TMP is an example of lean academia. Salty Girl Seafood - Another focus of the TMP is the recruitment and mentoring of women entrepreneurs. Organic Academia.

Santa Barbara 258

Santa Barbara Technical Review Startup Venture Capital 258

Both Sides of the Table

JULY 22, 2010

Due to competitive markets we ended up with a pretty good term sheet until we needed to raise money in April 2001 and then we got completely screwed. And for some strange reason entrepreneurs didn’t share this information. I’ve started from day one trying to build total transparency into my process with entrepreneurs.

Venture Capital 405

Venture Capital Pricing Startup Funding 405

Both Sides of the Table

JUNE 5, 2011

I have conversations with entrepreneurs and other VCs on a daily basis about fund raising, the prices of deals, how much companies should raise, etc. For example: If you were to invest $41 million into a company (and one could assume that you owned between 33-50%) then the company is worth $82-123 million at funding. That’s fine.

Startup 336

Startup Pricing Technical Review Marketing 336

Startup Professionals Musings

JUNE 25, 2021

It seems like everyone wants to be an entrepreneur and get rich these days. As an example of a good resource, I enjoyed the classic book, “ Idea To Invention ,” by Patricia Nolan-Brown, that does a great job on the key steps. Find out if something very similar is already selling, and who your competition would be if you proceed.

Ideas 136

Ideas Entrepreneur Mentor Resource 136

Both Sides of the Table

DECEMBER 3, 2009

Yesterday I had lunch with a really interesting and capable serial entrepreneur who is raising his A round. Many serial entrepreneurs who have been burned would use something less kind than quotes. Many strategics have less experience in helping entrepreneurs. This is part of my ongoing Raising Venture Capital (VC) series.

Venture Capital 279

Venture Capital Startup Entrepreneur Framework 279

socalTECH

JUNE 20, 2012

We caught up with Sam Teller , who is directing efforts at the accelerator, to help fill entrepreneurs in on where the program fits in the world of technology and startup acceleration. It was really just something built for the community to help support entrepreneurs. For readers, LaunchpadLA is all about?

Class 261

Class Mentor Startup Santa Monica 261

InfoChachkie

SEPTEMBER 27, 2018

MBA’s are an easy target for entrepreneurs’ scorn. I too have taken shots at MBA’s, describing why they are not typically well suited for startup life in Why Entrepreneurs Hate (Most) MBAs. Notable examples include Grabtaxi and Jumei. Situationally, MBA’s Can Be Effective Entrepreneurs. “When M.B.A.’s

Entrepreneur 113

Entrepreneur Allegis Startup Competition 113

Startup Professionals Musings

SEPTEMBER 30, 2019

Serious entrepreneurs know that, but too many “wannabes” still fall for that elusive get-rich-quick scheme with no risk. As an active angel investor, I still hear entrepreneurs asserting large opportunities with minimal risk and no competition. Outside of dreams, there is no real business opportunity without risk. Operational.

Entrepreneur 107

Entrepreneur Marketing Customer Custom 107

Startup Professionals Musings

OCTOBER 31, 2018

The most successful entrepreneurs and business owners I know are humble, and they don’t have an inflated sense of self. The only “sustainable competitive advantage” in business is self-awareness. I come from the same world, with an additional decade advising entrepreneurs, and I enthusiastically confirm his view.

Competition 81

Competition Startup Examples Coach 81

Both Sides of the Table

FEBRUARY 14, 2010

One of our core tasks was “market analysis,&# which consistent of: market sizing, market forecasts, competitive analysis and then instructing customers on which direction to take. Here are some examples: - You ask a small sample set so that data isn’t statistically significant. You ask a group that is not unbiased.

Statistics 415

Statistics Startup Report Research 415

InfoChachkie

MARCH 10, 2014

Never let the odds keep you from pursuing what you know in your heart you were meant to do - entrepreneurs never calculate probabilities, even if the chances are one in a million, "one" is all you need to win. Remember that winners do what losers don''t want to do - outwork your competition and you will likely win. Go venture.

Competition 274

Competition Mentor Entrepreneur Startup 274

Startup Professionals Musings

SEPTEMBER 4, 2019

It really is possible for an introvert to succeed as an entrepreneur, even though you can’t expect to start and build a business alone. Every entrepreneur, especially an introvert, can benefit from the perspective of another business person, ideally one who has prior experience in the domain you are about to enter.

Entrepreneur 104

Entrepreneur Mentor Activity Startup 104