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Category Archives: General
Are you willing to hire slowly but fire fast?
Here’s a test of your patience and your willingness to suppress your tendency to avoid conflict or confrontation – all in the same insight. First a reminder about why we hire: New hires can shore up the weak areas of … Continue reading
Entrepreneurism is all about personal risk.
Well, of course it is. So, let’s dig a bit deeper. Sometimes, you can reduce your personal risk by taking in other people’s money in various ways, perhaps starting with a consulting contract with a customer, purchasing a going business … Continue reading
Posted in General
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Four ways to create marketing excellence
First, let’s recall the four “P’s” of marketing Marketing is a science devised to help drive customers to your door. There are lots of ways to define how to market well, including the four P’s of marketing (1): product, price, … Continue reading
Posted in General, Positioning
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Can you defend your plan without being defensive?
When meeting with investors or even your board, during the period devoted to feedback after your presentation, you will hear comments and recommendations that don’t resonate with you. Some will be from a misunderstanding of your explanation. Some listeners will … Continue reading
Don’t get hung up on early stage valuation.
Here’s the “what.” I can’t tell you how many times I’ve walked away from deals where the entrepreneur insists on a start-up pre-money valuation that is so high, no angel could expect to make a return upon the investment, even … Continue reading
Posted in General, Ignition! Starting up, Raising money
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Please don’t overestimate your audience’s knowledge
Ask the important question first When making a presentation to a new audience, the smart thing to do, if there is an opportunity, is to ask your audience by show of hands, if they have some knowledge of your industry … Continue reading
Raising money? Find your champion.
Increasing your chances of success If you seek funds from an organized investment group such as an angel fund, venture capital entity, or even an investment club, the first thing you want to do is to find one person to … Continue reading
Posted in General, Raising money
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Have you heard the rule of the thirds?
It starts with sharing the opportunity and upside Think of startups and early stage businesses whose entrepreneurs you know. How many of them, particularly in technology, were able to start a company, supply all the funding, and share no management … Continue reading
Posted in General
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Financing with grants, not equity or debt
First, an example of grant-based financing I was chairman of a company that, for twelve years never took a dollar of outside investment. The company was funded entirely by grants from the National Institute of Health, amounting to millions … Continue reading
Posted in General, Raising money
1 Comment
Use creative fundraising instead of equity or debt?
Use creative fundraising instead of equity or debt? By Dave Berkus First, my story as an example Let me tell you the story of how I raised $100,000 to fill a gap needed to purchase a new home for my … Continue reading
