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Intros.They’re the lifeblood of networking – the currency of mavens. They are your route to angel money. Your entrée to sales meetings. We couldn’t live without them. But when misused, overused or abused they can diminish your personal brand, consume your valuable time and waste that of the relationships you value the most. I would like to make the case for being judicious with your introductions.
For those of us who’ve invested in early stage companies, especially technology startups, we have confronted a universal problem. There are many ways to project the value of a company for purposes of pricing an investment, but all rely upon the revenue and profit projections of the entrepreneur as a starting point. Many formulas then discount those projections according to some set percentage or by assigning weight to elements of the enterprise.
In 1961, after 70-years, professional baseball created its first expansion teams – the Angels and Twins. Naysayers harshly criticized the growth of the league, fearing that new teams would dilute the talent pool and ultimately lower the quality of game play. Since 1961, professional baseball has grown from 18-teams to 30. Over the same period, professional football and basketball leagues also expanded dramatically.
Are you the sort of person who relies on your friends to help you figure out the best places to explore on the web? Wish you could lean on your friends to get insights into the great new services you ought to try? That's the idea behind HypeMarks (www.hypemarks.com), a new startup looking to tap into your social graph to guide you to the web. We thought we'd get the pitch from Tim Sae Koo , the founder of the company, on how he took the idea from his business class at USC and turned it into a co
Office leases are one of companies’ largest expenses, and if your whole team is working from home with no clear end in sight, you may be wondering what to do about your lease.
I've recently received several emails from people looking for a technical cofounder for their startup. I promised I would write this post with some thoughts and ideas on the topic. Here's an example of that kind of email. "I'm looking for a partner / cofounder who can not only head the technical aspects and build a working model of the site, but someone with the connections to put a great development team together when we need it.
By Richard E. Neff There is so much in the news about cyber-security. Much of the focus is on cyber war as a new and inevitable weapon, Stuxnet and the vulnerability of our national infrastructure. Some of the news is about use of computers to steal US technology and trade secrets, with culprits—if traceable—often located in China or [.].
I had this ethical dilemma pop up on one of the first deals I even did as a VC. I had been looking around at several deals in late 2008 as the markets were tanking. I had gotten close on a couple of deals but nothing rose to the level of “must do.” I was learning which VCs I wanted to work with, what stage & check size I wanted to commit do and what teams would be a good fit for me.
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I had this ethical dilemma pop up on one of the first deals I even did as a VC. I had been looking around at several deals in late 2008 as the markets were tanking. I had gotten close on a couple of deals but nothing rose to the level of “must do.” I was learning which VCs I wanted to work with, what stage & check size I wanted to commit do and what teams would be a good fit for me.
In the creation of a new enterprise, there are five principal risks to be addressed by the entrepreneur. Professional investors will probe these five risk areas and make the decision to invest based upon comfort with each. So it is important for the entrepreneur to identify, address and mitigate each of these in order to increase valuation and decrease the risk of ultimate loss of the business.
Article first published as Five Business Tips From The Beatles on Technorati. This part one of a two part series; you can access part two HERE. Note: This is an installment in the Iconic Advice series. Other installments include: Jeff Bezos , Steve Jobs , Mark Cuban , Richard Branson , Walt Disney , Mark Zuckerberg , Michael Dell and Larry Ellison. As any long-time reader of this humble blog knows, I am an ardent Beatles fan.
Have you every clicked on a mobile ad on your iPhone or Android phone, and found that the ad you clicked into wasn't usable on your mobile phone? It's not an uncommon experience, and one which drove Holden Steinberg and Jason Crilly to start PageWoo (www.pagewoo.com), a service which is aimed at helping businesses create mobile-friendly landing pages for their advertisements.
Thursday, March 22, 2012 -- Small Business Breakfast Series Presents: Building a Brand Through Social Media. Building a brand is a key cornerstone to the success of a small business. In this generation of social media, companies have a plethora of social networking channels that can be utilized to build and sustain brands. Featured speakers include Jason Nazar of Docstoc and Kevin Winston of Digital LA.
By Greg Sikes If you have watched TV in the last two years, or walked through an airport, you have likely seen an IBM Smarter Planet advertisement. At the core of this message is the idea that the world is becoming more Instrumented, Interconnected, and Intelligent. Just take a look around your house, or at [.].
When I started my first tech company in 1999 I had pretty good tech chops and had led teams but had very little exposure to many other things that matter in a startup including sales, marketing & business development. Like most first-timers, I learned the hard way. Negotiating was a subset of every activity in a startup – it really was a way of life.
Guest post by Sara Mackey. Dave’s Note: This is the first time we’ve had a guest author on the BERKONOMICS site. Sara focuses upon another side of small business financing not typically considered in the angel and venture world, financing from sources for companies that will probably never be attractive to those niches. . So, you’ve been thinking about starting your own firm for the past ten years.
While working, I often listen to YouTube videos in the background, much like a podcast. Depending on what I am working on and the degree to which the video is compelling, my focus on the video’s content fades in and out. Occasionally a video compels me to take a break and devote all of my attention to it. This occurred while I was listening to the embedded video below.
Last week, Pasadena-based Punchcard (www.punchcard.com) launched its mobile apps, which help local retailers provide rewards to loyal customers. The firm is backed by Idealab, and is headed by Internet veteran Andy Steuer. We caught up with Andy, whose executive experience ranges from ZeroDegrees, NBC Internet/Xoom.com, Infoseek / Go Network, to CNET and Snap.com, and whose last firm was MerchEngines, which he sold last year, to hear more about his new startup.
By Barry Lieberman A “lead” means many things to many people. To some it’s a list of contacts based upon a specific location, industry, age group or other demographic. While to others it’s the contact that has completed an online form or responded to an advertisement. Yet to many sales people it’s a person who [.].
Many MBA programs still cater too much to the needs of large, corporate management jobs or prepare students to enter big consulting companies or investments banks. If you haven’t read Adam Lashinsky’s awesome new book about Apple , you should. It takes on many of the lessons MBA programs and Corporate America have been teaching about business for the past 50+ years and questions whether lessons from Apple might be more applicable in thinking about the future.
When you seek professional investors, whether organized angels or venture capitalists, one of the early questions you are asked is “How have you financed the business so far?” Investors love to see entrepreneurs who have used their own money to ignite their businesses. But often, entrepreneurs turn to others for initial capital. Describing that capital using the phrase “friends, family and fools,” or “FFF,” has become as common as to be trite.
I’ve noticed that some entrepreneurs seem to have no trouble attracting investors, while others with a great business plan struggle with it. The reality is that angel investors are humans, and personal traits often make or break the relationship, even before the investment is considered. On the top line, angel investors look to invest in entrepreneurs that have an almost unwavering passion and sense of urgency.
Last week, Santa Monica-based Docstoc (www.docstoc.com), the online business documents site headed by Jason Nazar, launched a new website, called License123 (www.license123.com). The new site is a separate brand, offering up help to businesses trying to make sure their companies are properly licensed in whatever city and state they are operating in.
Friday, April 6, 2012 -- Global LAVA. Think Outside The States. Did you know that nearly 96 percent of consumers and over two-thirds of the worlds purchasing power reside outside the U.S.? Still, there are less than 2 percent of American small businesses that are presently involved in international trade. Please join our captivating discussion tailored specifically to small businesses.
I’ve started a series on negotiations in startups. In it I list some books and also link to some of my previous posts. It’s the first functional series I’ve done since sales & marketing. The very first time I ever negotiated a term sheet (and then legal docs for closing the round) I found the experience very frustrating. I was desperate to get my funding finalized to derisk my business as well as to get capital in the bank to meet our growing cash needs.
Los Angeles-based Mogreet , the provider of video-based, mobile marketing services, is in the midst of and expansion, including the hiring of two executives to its sales and marketing team. The company, which is headed by James Citron, said today that it has hired Serena Ehrlich as Director of Marketing, and Anthony Ward as Director of Sales for the firm.
Los Angeles-based HypeMarks , a new startup aimed at social discovery, launched into beta this week, looking to help users and their friends discover the web through each other. The startup--one of the firms which is part of the StartEngine accelerator in Westwood--offers up a collection of websites and web links, all tied into a user's Facebook profile.
Los Angeles-based Invested.in , the developer of web-based software for managing crowd funding efforts, has connected its service into the popular AngelList service, saying last week that it is launching Crowdcelerator.com , a new service which uses AngelList's API to help startup companies raise funds and close their fundraising rounds. The new service, which is in private beta, uses AngelLists's API and Invested.in's social fundraising platform to drive angel investment deals.
Los Angeles-based Fandango announced htis morning that it has scored an exclusive deal with Yahoo , where it will be the exclusive ticket seller for Yahoo! Movies. Financial terms of the deal were not disclosed. Fandango said the move will give Internet users access to nearly 20,000 screens across the country. Fandango won the deal over rival MovieTickets.com.
What's the best way to get the word out about your brand on social media? For a number of high profile brands, it's by using the software and services of Los Angeles-based PromoJam (www.promojam.com), which just announced a round of funding to accelerate it efforts last week from Golden Seeds and the Band of Angels. We spoke with Matt and Amanda MacNaughton , the brother and sister team behind PromoJam, to hear more about the company's platform.
Los Angeles-based Crosscut Ventures , the early stage, venture capital investment firm run by Rick Smith and Brian Garrett, looks to be kicking off a new fund, according to an SEC filing this week. Details on the fund size were not included in the filing, and the firm has not commented on the filing. Crosscut Ventures invests in digital media businesses, and has invested in such companies as GraphEffect, Postcard On The Run, ShoeDazzle, Zadspace, GumGum, DocStoc, CircleStreet, Verve Wireless, am
Earlier this month, Los Angeles startup Dollar Shave Club (www.dollarshaveclub.com) made a huge splash with its launch of a subscription, monthly delivery service for razor blades. The company also made quite an impression with its viral video --which you have to watch to appreciate--of CEO Michael Dubin extolling the virtues of the company's products, and panning overpriced, expensive razor brands.
Who says that Southern California companies aren't at the core of the technology business? A new teardown of the Apple iPad 3 , just posted by iFixit, shows that at least three semiconductor companies with Southern California connections are doing the heavy electronics lifting inside Apple's new device. San Diego-based Qualcomm , Irvine-based Broadcom and Skyworks Solutions , with operations in both Irvine and Newbury Park, have major chips in the new Apple iPad 2, based on the information uncov
Online, eco-family products company The Honest Company , started by celebrity Jessica Alba and Los Angeles e-commerce master Brian Lee, said late Friday that it has raised $27M in funding. The funding was led by General Catalyst, Lightspeed Venture Partners and Institutional Venture Partners (IVP). The retailer is offering up subscription e-commerce products focused on parents, including diapers, wipes, baby bath, skin care, and home cleaning products.
Here's an interesting Kickstarter project looking for some (crowd) funding: a Caltech scientist is looking to raise $50,000 to create "nanoart". Kickstarter is an online website which allows users to crowd source funding for their projects, and is now listing a project from Caltech physicist Sameer Walavalkar, to create silicon nanostructures which are pictures, text, and portraits, which are carved directly into silicon.
Uber , the technology-enabled, private car service which is upturning the taxi and limousine business nationwide, has set its sights on a new market: Los Angeles. Uber said Thursday that it has launched in Los Angeles, offering up its services which lets users summon a private car through their smartphone application. Uber, which is based in San Francisco, uses its smartphone application to connect riders with private sedan companies who serve those different cities.
A number of local angels have backed a technology-driven, weight loss program operator called RETROFIT. According to RETROFIT, it raised $2M in a financing round, which came from I2A Fund, New World Ventures, and FireStarter Fund, as well as angels. Those angels included Renee LaBran , a partner at local investor Rustic Canyon / Fontis Partners, and Howard Lindzon , the founder of San Diego-based StockTwits.
Have you ever traveled to a foreign country, and wish you had a local friend who could show you around? Tired of packaged tours where you really don't get to experience the local culture? That's what TripTrotting (www.triptrotting.com) is hoping to fix. The Los Angeles startup is looking to help connect travelers with local guides and hosts. Aigerim Duiseneyeva and Shana Zheng are the co-founders of the firm, and told us more about the service.
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