Both Sides of the Table

NOVEMBER 15, 2010

This sometimes frustrates entrepreneurs who just want to “get back to running the business.&# But if you understand it you’ll see that it is perfectly rational and it should also influence how you form relationships with investors. For this reason I tell entrepreneurs the following: Meet your potential investors early.

Invest 411

Invest Technical Review Venture Capital Startup 411

Both Sides of the Table

OCTOBER 4, 2009

Many entrepreneurs who start technology companies are product people, technologists or savvy business people who worked previously for a larger company. Most start-up entrepreneurs have little or no sales experience. This is the easiest one for most entrepreneurs. But most good entrepreneurs do this naturally.

Sales 319

Sales Startup Platform Tips 319

InfoChachkie

NOVEMBER 18, 2010

Net Promoter Scores (NPS) are the darling of many Big Dumb Company (BDC) product marketing and customer support executives. Created by consultants to generate additional fees, such scores attempt to rate a company’s overall customer satisfaction. The higher your company’s NPS, allegedly the higher your customer satisfaction.

.Net 182

.Net Satisfaction Entrepreneur Customer 182

Both Sides of the Table

JUNE 6, 2010

developing a product you might like to survey prospective customers without biasing their answers. doing a reference call on a prospective employee. But whether you’re raising money, selling to customers, looking to make an investment or whatever – listening pays more dividends than talking. Conclusion.

Startup 311

Startup Invest Course Research 311

InfoChachkie

APRIL 28, 2011

Many entrepreneurs encounter a similar dilemma. Thus, entrepreneurs must decide when to stop listening to the Sirens’ song of a quick buck and position their company to take advantage of long-term, sustainable business models. However, in the long run, entrepreneurs always benefit from delivering Maximum Utility for a fair price.

Entrepreneur 225

Entrepreneur SaaS Pricing Cloud Computing 225

Both Sides of the Table

NOVEMBER 29, 2009

I recently got a phone call from an entrepreneur whom I respect and who runs a company that I hope will do great things one day. Entrepreneurs get so used to friends and family congratulating them on their press coverage that they forget sometimes that this isn’t real. Many entrepreneurs have a PR page in the PowerPoint deck.

Venture Capital 291

Venture Capital Press News Startup 291

InfoChachkie

NOVEMBER 18, 2010

Net Promoter Scores (NPS) are the darling of many Big Dumb Company (BDC) product marketing and customer support executives. Created by consultants to generate additional fees, such scores attempt to rate a company’s overall customer satisfaction. The higher your company’s NPS, allegedly the higher your customer satisfaction.

.Net 168

.Net Satisfaction Customer Custom 168

InfoChachkie

JULY 4, 2011

For sake of grammatical convenience, I will refer to Sam as a male in the remainder of this entry. The story begins with the unwitting, future customer relaxing and reading the paper. However, typical of an Optimistically Pessimistic entrepreneur, Sam never loses hope, and does gives up. I was no exception.

Sales 219

Sales Entrepreneur Startup Product 219

Both Sides of the Table

APRIL 25, 2011

A great recent example of this was a successful group of entrepreneurs who had created a company that will do $10-12 million in revenue at their system integration business (read: services business) in 2011 after having done $5 million or so in 2010 and $2-3 million in 2009. And stop effing around trying to create a product company.&#.

Services 332

Services Venture Capital IP Startup 332

Both Sides of the Table

JUNE 8, 2010

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 development, etc. It is the key to “customer development” that Steve Blank talks about. I’m going to save that for a future blog post. I felt the same way.

Startup 279

Startup Venture Capital Tips Custom Development 279

Both Sides of the Table

JULY 19, 2011

Yet a critical mistake I see many entrepreneurs make is that they hand over too much control to their third-parties. Often recruiters want to handle the final negotiations on package and/or do the reference calls. I’m also reluctant to hand over reference calling. Unfortunately that’s how reference checking works.

Venture Capital 319

Venture Capital Pricing Startup Outsource 319

Startup Professionals Musings

JULY 9, 2013

Some entrepreneurs forget that talking is not communicating. Then, hopefully, come customers, distribution channels, and going public or merging with an attractive buy-out candidate. From an entrepreneur perspective, here are the understanding barrier categories: Unclear frame of reference. Stereotyping and biases.

Entrepreneur 101

Entrepreneur Technical Review Guide Mentor 101

Both Sides of the Table

JUNE 21, 2014

When you’re hiring most reference checkers focus on the person’s former bosses. Just literally this week I had breakfast with a guy giving a reference who said, “He’s brilliant. In fact, just a short Google search reveals that I’ve referred to him frequently through the years. But he knows it.

CTO Hire 320

CTO Hire Startup CTO Coach Venture Capital 320

Both Sides of the Table

OCTOBER 6, 2010

But in my experience as an entrepreneur and now spending my time amongst investors I can generalize that almost all VC investments in early stage technology & Internet investments come down to just four key factors. This post was prompted by an email exchange I had with a young entrepreneur. And VC’s are tough customers.

Startup 360

Startup Venture Capital Invest Slides 360

Startup Professionals Musings

JULY 31, 2020

As an angel investor in startups, I’m a believer that smart investors invest more in you as the entrepreneur than the next billion dollar solution you are pitching. Even if you are still in school, and never started a company before, strong entrepreneur candidates can point to projects they initiated, led, that produced significant results.

Entrepreneur 124

Entrepreneur Startup Examples Metrics 124

Startup Professionals Musings

APRIL 2, 2022

Many entrepreneurs think that adapting to the new technologies, like smart phones and Internet commerce, are the key to attracting new customers. High-technology product startups, without customers, don’t make a business. During today’s dynamic customer journey, consumers often find themselves at a point of indecision.

Customer 122

Customer Custom Social Media Technical Review 122

InfoChachkie

JULY 7, 2016

The entrepreneur cannot wait to show me their product via a demo. Most entrepreneurs seem confused by my reaction and often say something like: “VCs love demos. As such, I understand the degree to which hand waving and vaporware can influence investors and potential customers. Customers Are All That Matter.

Venture Capital 176

Venture Capital Product Software Review Technical Review 176

Startup Professionals Musings

SEPTEMBER 16, 2011

The popular view of a real entrepreneur is someone with a big vision, and a stubborn determination to charge straight ahead through any obstacle and make it happen. His new book on this subject, “ The Lean Startup ,” lays out how today's entrepreneurs use continuous innovation to create radically successful businesses. Platform pivot.

Entrepreneur 102

Entrepreneur Startup Platform Customer 102

Both Sides of the Table

DECEMBER 17, 2012

But a couple of people replied with responses of such lack of comprehension that I thought it was worth expanding on for first-time entrepreneurs. Successful entrepreneurs achieve much through their personal leadership traits that inspire others to do great things with them – sure. Not possible. ” Or there was this one.

Startup 363

Startup Venture Capital Coach Press 363

InfoChachkie

FEBRUARY 18, 2013

Boss Reference - Your potential boss will check your references. Even if the reference did not work directly with your future manager, they may still have valuable insights that would otherwise be impossible for you to uncover during the interview process. You should do the same.

RSS 229

RSS Entrepreneur Startup Email 229

Both Sides of the Table

JANUARY 21, 2010

I recently read a post over on VentureHacks titled, “ Top Ten Reasons Entrepreneurs Hate Lawyers &# written by Scott Walker (who blogs on legal issues for entrepreneurs ). Because many great entrepreneurs work with lawyers in registering their companies they have their ear to the pavement on the earliest of company formations.

Startup 318

Startup IP Southern California Entrepreneur 318

Startup Professionals Musings

SEPTEMBER 16, 2012

I’m sure we have all seen entrepreneurs with high levels of passion and confidence touting an idea that seems to make very little sense to us. John Bradberry, in a recent book called “ 6 Secrets to Startup Success ” identifies five key biases that sabotage many passionate entrepreneurs in their startup decision making.

Entrepreneur 108

Entrepreneur Ideas Press Startup 108

Both Sides of the Table

FEBRUARY 3, 2010

I know because many entrepreneurs I spend time with I can tell are in their own brains when we’re meeting rather than trying to understand what my position is. You’re in sales mode. Let’s assume you run a Customer Support software company. That stuck with me long before I was ever a CEO (aka chief salesman).

Sales 314

Sales Startup Venture Capital Customer 314

Both Sides of the Table

MARCH 12, 2013

He shared tons of information about how how they were using marketing to quantitatively make marketing decisions at HauteLook and acquire customers for prices that were far cheaper than similar companies. I made some reference calls. I instantly hit it off with Greg because we was a fountain of knowledge. They were effusive.

Venture Capital 360

Venture Capital GRP Partners Startup Invest 360

Startup Professionals Musings

OCTOBER 15, 2014

One of the business ironies that many entrepreneurs have learned the hard way in the past is that ideas which are truly disruptive carry the highest risk of failure, take the longest to gain traction, and thus are the least likely to get external funding. Great entrepreneurs aren’t just dreamers, they are doers.

Entrepreneur 107

Entrepreneur Startup Cloud Computing Ideas 107

InfoChachkie

MAY 7, 2012

Skilled entrepreneurs bring ideas and money together by building a bridge of trust. I likewise value an entrepreneur who treats my money like their own and understands the difference between spending and investing. Confirmation from people whom the entrepreneur did not cite as a reference is vital.

Ideas 251

Ideas Venture Capital Education Entrepreneur 251

Startup Professionals Musings

JANUARY 24, 2021

For the elite startups and entrepreneurs who manage to attract the investor they dream of, and survive the term sheet negotiation, there is still one more hurdle before the money is in the bank. Due diligence always involves on-site visits, informal discussions with any or all members of the team, vendors, and good customers as well as bad.

Technical Review 151

Technical Review Startup Satisfaction Invest 151

Startup Professionals Musings

JULY 28, 2014

As an entrepreneur, your personal integrity is critical for getting and keeping the support of investors and team members, and your company’s integrity is critical for getting and keeping customers and vendors. As an entrepreneur, when you are late with a committed business plan or meeting with an investor, you lose integrity.

Entrepreneur 102

Entrepreneur Customer Custom Examples 102

Startup Professionals Musings

APRIL 30, 2013

As an entrepreneur, your personal integrity is critical for getting and keeping the support of investors and team members, and your company’s integrity is critical for getting and keeping customers and vendors. As an entrepreneur, when you are late with a committed business plan or meeting with an investor, you lose integrity.

Entrepreneur 101

Entrepreneur Customer Custom Examples 101

Both Sides of the Table

JANUARY 6, 2014

And here’s an important point that I think modern entrepreneurs often forget: Investors are “co-owners” of your business. The functions of an early-stage board are pretty obvious and well understood: Providing introductions to customers, biz dev partners, recruits, the press, other investors, etc. Mentorship.

Startup 325

Startup Sales Technical Review Software Review 325

Startup Professionals Musings

JULY 8, 2013

So what’s an entrepreneur to do to get his new business noticed these days? Today’s platform is built of people, including yourself, followers, and contacts, who can amplify your message through social media and spread it to your target customers. Make your customers your platform. Using the platform to expand your reach.

Platform 105

Platform Entrepreneur Startup Social Media 105

TechCrunch LA

NOVEMBER 6, 2019

21 in Los Angeles near the serial entrepreneur’s other company SpaceX. Musk mentioned on Twitter the desire to produce a pickup truck way back in April 2017, before the first Model 3 sedans had been handed over to customers and the CEO had entered production hell. The date just so happens to coincide with the LA Auto Show.

SpaceX 186

SpaceX Los Angeles Ideas Angel 186

Both Sides of the Table

JANUARY 22, 2014

Simply put – I’d be in search of a VC who had an intuitive sense of my product, my customers, my organizational issues, my competitors, etc. If I were looking at which VCs to choose I would reference strongly for which ones are supportive in good times and bad. The best way – of course – is to reference check.

Venture Capital 364

Venture Capital Coach Writing SaaS 364

Startup Professionals Musings

JULY 14, 2021

One of the business ironies that many entrepreneurs have learned the hard way in the past is that ideas which are truly disruptive carry the highest risk of failure, take the longest to gain traction, and thus are the least likely to get external funding. Great entrepreneurs aren’t just dreamers, they are doers.

Startup 174

Startup Cloud Computing Ideas Entrepreneur 174

Startup Professionals Musings

AUGUST 3, 2020

For example, both need to provide exemplary customer service, build customer loyalty, and provide real value for a competitive price. If you don’t have a high level of commitment and passion, you customers won’t seek you out. Customers can touch and see a great product, but services are a bit ethereal.

Startup 174

Startup Training Services Writing 174

Startup Professionals Musings

MARCH 22, 2013

Many entrepreneurs think that adapting to the new technologies, like smart phones and Internet commerce, are the key to attracting new customers. High-technology product startups, without customers, don’t make a business. During today’s dynamic customer journey, consumers often find themselves at a point of indecision.

Customer 100

Customer Custom Startup Social Media 100

Startup Professionals Musings

MAY 4, 2022

Some entrepreneurs forget that talking is not communicating. Then, hopefully, come customers, distribution channels, and going public or merging with an attractive buy-out candidate. From an entrepreneur perspective, here are the key barrier-to-understanding elements: Unclear frame of reference. Stereotyping and biases.

Technical Review 137

Technical Review Entrepreneur Guide Mentor 137