2012

Startup Professionals Musings

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10 Ways Successful Entrepreneurs Beat the Odds

Startup Professionals Musings

Did you ever wonder why some entrepreneurs always seem to have all the luck and success, while others never seem to catch a break? As an Angel investor, I quickly learned that luck has very little to do with it, and I now look for some personal characteristics and leadership styles that separate the potential winners from the losers. These differences are the reason that investors say that they invest in people, rather than ideas.

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10 Keys to Startup Traction That Investors Look For

Startup Professionals Musings

Every investor expects to see some business traction, both before and after a funding event. If you have been working 20 hours a day, and spent your last dollar, but have no results to show, investors will be sympathetic, but will probably tell you that your dream doesn’t have wheels. Traction means forward progress. I hear a lot of entrepreneurs contemplating their great “idea” for several years with little discernable progress, and looking for money to start.

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7 Success Principles From Internet Millionaires

Startup Professionals Musings

Many aspiring entrepreneurs are looking to the Internet as an opportunity to get rich quick, instead of a place where you can start a business you love, for very little capital and minimal technical expertise. The reality is that if you build a business you love, you may in fact make big money, but if you start a business to get rich, you will probably fail.

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Paranoid Companies Miss the Best New Opportunities

Startup Professionals Musings

Companies today are paranoid, afraid that even their friends will steal their business. Yet a creative collaboration with your biggest competitor may be the best opportunity for revenue and survival. But remember that “dancing with the wolves” can also get you eaten for lunch. You have to take the risk, but keep your wits about you. Your goal is “ coopetition ” - to find a way to partner with your competitor in such a way that both parties can substantially benefit from the other's resources - w

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A Startup Advisory Board Dream Team is Priceless

Startup Professionals Musings

Every startup faces a myriad of challenges that are well beyond the scope of any founder, so you need a few guiding lights to illuminate the road ahead. These should be carefully selected, with a proven track record, willing and available to help, and be completely trustworthy. Make sure they are willing to check their egos at the door. Let’s talk specifics.

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The New Breed of Startups Master These 5 Processes

Startup Professionals Musings

I see more and more entrepreneurs who seem to have everything going for them – vision, motivation, passion, even a good business plan, product, and money, and yet they can’t close customers. Maybe it’s time to look harder at the mantra of a new breed of gurus and successful entrepreneurs, including Steve Blank and Eric Ries , called “nail it then scale it” (NISI).

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Investors Seek Entrepreneurs With Fire in the Belly

Startup Professionals Musings

I’ve noticed that some entrepreneurs seem to have no trouble attracting investors, while others with a great business plan struggle with it. The reality is that angel investors are humans, and personal traits often make or break the relationship, even before the investment is considered. On the top line, angel investors look to invest in entrepreneurs that have an almost unwavering passion and sense of urgency.