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Author Archives: Dave Berkus
Ouch! If I had only learned this before losing millions!
Know your market and competition, or don’t spend a dime on anything else. I love absolutes – statements with no wiggle room for gray-area responses. Well, here is one of those, and it deals with market research first and foremost. … Continue reading
Take only “smart money” investments
This statement could be considered controversial. We have previously made the case that professional investors demand more in the form of restrictive covenants and lower valuations. Now we explore the other side of that coin. Professional investors usually bring “smart … Continue reading
Posted in Raising money
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Need investment capital?
Preparing for the game… If you have been following our recent insights, you’ll be up to speed knowing that professional investors negotiate tough terms, from provisions of control over asset acquisition, eventual sale of the company, future investments, forced co-sale … Continue reading
Posted in Ignition! Starting up, Raising money
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What do you give up when you take outside investors?
Setting your expectations Taking in angel or venture money requires a setting of an entrepreneur’s expectations that may come as a shock at least at first. From the moment such an investor looks seriously at your company, the investor or … Continue reading
Posted in Raising money
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Need money? Read this!
How important is this issue for your business? The subject of raising money is critical to many businesses and a passing option to others, depending upon the capital efficiency of the enterprise. Some businesses require very little capital and the … Continue reading
Posted in Ignition! Starting up, Raising money
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Go ahead! Drive with no speedometer!
Have you ever driven a car that had no speedometer? I had that thrill when a student at the Richard Petty Stockcar School of Driving at a motor speedway in California. With a wide track, angled aggressively at the curves, … Continue reading
What’s the difference between your budget and forecast?
Hold it! These are confusing terms. When does a budget become obsolete? Do we rely upon constant changes and call it a forecast? So, let’s spend a few moments defining this sometimes-confusing set of terms. This is a budget: A … Continue reading
Make your detailed strategic plan!
In these past weeks, we explored the need for a tangible goal and strategies that are measurable as steps toward achievement of your goal. Today, we explore how to create tactics to accompany each strategy, and even suggest a number … Continue reading
Posted in Depending upon others, Growth!, Positioning
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You’re the general. So, make your strategic plan!
Continuing the process of planning… So now we’re getting organized. There are many ways to express the roadmap for your enterprise. One of the most popular was used by the U.S. Army late in World War II and adopted by … Continue reading
So, what’s the plan?
It’s time to speak of some sort of business plan. As a professional investor in early-stage companies, I have long discounted long, detailed business plans in favor of a concise “executive summary” followed by a believable spreadsheet-based financial forecast … Continue reading
Posted in Finding your ideal niche, Positioning
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