Author Archives: Dave Berkus

My dad said: “Never take on a business partner.”

My dad was a smart businessman, even if not formally trained. He occasionally gave me advice that turned out to be more than wise, looking back at subsequent experience and events.  His personal teaching event was a typical experience, as … Continue reading

Posted in Depending upon others, Ignition! Starting up, Protecting the business | Leave a comment

Should you include your sweat equity in a business plan?

Investors love it when entrepreneurs draw little or no money from their startups.  It extends the cash available for research and other necessary fixed costs and gives the fragile, young company more “runway” to get to breakeven. What are you … Continue reading

Posted in Ignition! Starting up, Raising money | Leave a comment

What is your biggest error in company planning?

The biggest error in planning may not be spreadsheet calculation error.  Or cost estimation.  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 … Continue reading

Posted in General | Leave a comment

What’s the most important thing in a young business?

Cash is everything to a new business.  How many times do we have to say this?  The days of being able to trust that there will be an investor or lender on the other end of a call or email … Continue reading

Posted in Growth!, Ignition! Starting up | 1 Comment

So, do you have that entrepreneurial DNA?

My immediate family members were entrepreneurs from as far back as I can trace.  Dad was a jeweler, then a furniture store owner.  Mom wrote books and articles from her college days until she could no longer see the keyboard.  … Continue reading

Posted in Ignition! Starting up | 2 Comments

Entrepreneurs do not easily retire.

So, you’ve successfully sold your business and have received enough money from the sale to become financially independent, no longer having to work for a living.   That is a comfortable place to be, and it is one experienced by more … Continue reading

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Shareholders and founders: The muted thrill of the deal closing.

Now you have worked for months to get this deal to the closing, anticipating the wire transfers to the shareholders that will come any minute.   This could change your lifestyle and give you that much needed pause in your life … Continue reading

Posted in General, The liquidity event and beyond | 4 Comments

What use is an investment banker?

Many CEOs have asked me if I felt an investment banker adds value if the buyer has already been identified. How investment bankers behave Investment bankers sometimes slow the process by requiring a cloud-based “data room” and  “deal book” to … Continue reading

Posted in The liquidity event and beyond | 4 Comments

What’s a “data room” and how do you use it?

First, what’s a “deal book?” Maybe you have not heard the term, “deal book.”  That’s a comprehensive piece on a company for use by a buyer in determining fit.   A “deal room” is a cloud-based or physical space dedicated to … Continue reading

Posted in The liquidity event and beyond | 4 Comments

A million things can kill the deal.

So, you’ve found the buyer, received a letter of interest, signed it, and exclusively tied your company up for a period to complete the deal.  Everyone on the board is anxious to close this.  You’ve committed time to do whatever … Continue reading

Posted in The liquidity event and beyond | 2 Comments