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(In case it’s not obvious it’s a play on the Nike slogan, “Just Do It.&# ) I believe that being successful as an entrepreneur requires you to get lots of things done. Entrepreneurs make fast decisions and move forward knowing that at best 70% of their decisions are going to be right. This paralyzes most people.
In my years of advising startups and occasional investing, I’ve seen many great ideas start and fail, but the right team always seems to make good things happen, even without the ultimate idea. Yet every entrepreneur I meet wants to talk about the idea, and rarely mentions the team. Outsourcing your core competency does not work.
In my years of advising startups and occasional investing, I’ve seen many great ideas start and fail, but the right team always seems to make good things happen, even without the ultimate idea. Yet every entrepreneur I meet wants to talk about the idea, and rarely mentions the team. Outsourcing your core competency does not work.
Many entrepreneurs are convinced that banks are not worth the effort for startups, especially early-stage ones that still don’t have a revenue stream, or collateral to back up their financing needs. If you don't have a team on staff, then a banker is going to want to hear about outsourcing and advisors. A winning product or service.
In my years of advising startups and occasional investing, I’ve seen many great ideas start and fail, but the right team always seems to make good things happen, even without the ultimate idea. Yet every entrepreneur I meet wants to talk about the idea, and rarely mentions the team. Outsourcing your core competency does not work.
Many entrepreneurs are convinced that banks are not worth the effort for startups, especially early-stage ones that still don’t have a revenue stream, or collateral to back up their financing needs. The first thing to remember is that banks only do loans – they don’t do equity investments like angels and venture capitalists (and vice versa).
Despite this technical glitch, I opted to publish our discussion, given the high-quality content of his comments. In this capacity he worked with U2′s Bono, as well as Steve Jobs and a number of other notable celebrities whom Len encouraged to lend their brand equity to bolster RED’s cause. I think it is borrowed equity.
If you are one of the thousands of entrepreneurs who need equity funding to get your startup going (no loans to repay), you are probably overwhelmed at the prospect of finding, contacting and pitching to the huge number of qualified angels and investment groups around the country. Recruit a team with complementary skills.
In my years of advising startups and occasional investing, I’ve seen many great ideas start and fail, but the right team always seems to make good things happen, even without the ultimate idea. Yet every entrepreneur I meet wants to talk about the idea, and rarely mentions the team. Outsourcing your core competency does not work.
In a world where the economy only heads in one direction (read: 2009-2014) most investors & entrepreneurs forget to pay attention to gross burn. In these kinds of businesses I’m on the record as advising “ Ring the Freakin Cash Register.” So money spent should add equity value or create IP that eventually will.
Many entrepreneurs are convinced that banks are not worth the effort for startups, especially early-stage ones that still don’t have a revenue stream, or collateral to back up their financing needs. The first thing to remember is that banks only do loans – they don’t do equity investments like angels and venture capitalists (and vice versa).
Many entrepreneurs are convinced that banks are not worth the effort for startups, especially early-stage ones that still don’t have a revenue stream, or collateral to back up their financing needs. The first thing to remember is that banks only do loans – they don’t do equity investments like angels and venture capitalists (and vice versa).
In my years of advising startups and occasional investing, I’ve seen many great ideas start and fail, but the right team always seems to make good things happen, even without the ultimate idea. Yet every entrepreneur I meet wants to talk about the idea, and rarely mentions the team. Outsourcing your core competency does not work.
Some startup attorneys will accept a portion of their initial fees in the form of equity. When you hit the inevitable bumps in the road, a lawyer who has an equity stake in your business is more likely to be flexible with respect to payment terms and more willing to give you quick, off-the-clock feedback and guidance.
For some aspiring to be tech entrepreneurs, I often suggest a two-step process, as I argued in this post that “ The First Startup Founder You Need to Invest in Is You.” ” My friend Ian Sigelow wrote about this last week and advised people not to take on this kind of job. He still has the dream. He has the hunger.
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