As much as we want to be everything to everyone; life and business just do not work that way. Companies that succeed know they need to hone their focus on their vision. They translate this vision into a powerful mission statement. They realize that mission statements are more than pithy phrases or something to fill [...]
Most startups fail for one of the following reasons:
Poor Management Acumen
Many entrepreneurs start relatively early and consequently do not have a lot of management experience under their belt. Often they are technical experts and lack business acumen, and either cannot or will not bring in the resources necessary for success. This one is key, because [...]
Most of the times, start ups are heads down, focused on what they need to do to keep afloat and make it to that next milestone. Every so often its good to come up for air and take stock of how you are doing compared to your competition, and your industry in general. One way [...]
I’ve been very busy lately, and consequently lagging on my writing. I have several drafts that are taking more time to come together than anticipated. That being said, a distraction for me is staying current on some great conversations around entrepreneurs. This post came across my desk, and I thought it should be shared. Maria [...]
Looking over the SBA’s report on the “State of Entrepreneurism in the United States” it occurred to me that their criteria may not necessarily be what an entrepreneur considers as their information is funneled. However taking a step back and gaining a broader view of the options available can make a difference. I thought this [...]
I recently attended a panel on start-up funding, and while this information is mostly common sense, its always good to be reminded. So here’s a quick summary of my notes along with my own commentary thrown in.
Prepare, prepare, prepare
Be ready for the pitch, and remember you are making a sale, but at the end of [...]
KISS plays an important role (Keep It Simple Stupid)
You do not need many slides and they should be to the point. These slides will probably not fall into place but result from a lot of sweat and tears to get them down to their core message. This may be challenging as everyone is excited about [...]
I’ve long bitten my tongue when I see entrepreneurs outsourcing the writing of their business plan because they are speaking with (insert as appropriate) the VCs, the bank, other investors in two weeks, but no more. I have some things I must get off my chest. This document – a business plan – is [...]
When preparing for outside financing, its important to understand that investors are investing as much in the team as the product. So it behoves the team to understand where they stand in that dynamic. Too often the focus is on the product.
I prepared this model, that I use with the companies I work with as [...]
Anita Campbell recently posted this piece in Small Business Trends – great website. The write up appears to be based on input from Mark Cuban. I have nothing to add, its sage advice from people who have been in the trenches of start ups. I thought it was worth sharing.
“You’re not spending enough money.” That is [...]
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