article thumbnail

6 Mistakes Often Made By Entrepreneurs Due To Passion

Startup Professionals Musings

As an entrepreneur mentor and startup investor, I see with sadness the 50 to 90 percent that fail. Just because you would have loved to have your groceries picked out and delivered, doesn’t mean the mainstream customer was ready for Webvan in 1999. But I’m not convinced that it’s as simple as that. Fail fast and pivot.

article thumbnail

6 Ways To Doom Your Startup Despite A Great Solution

Startup Professionals Musings

As an entrepreneur mentor and startup investor, I see with sadness the 50 to 90 percent that fail. Just because you would have loved to have your groceries picked out and delivered, doesn’t mean the mainstream customer was ready for Webvan in 1999. But I’m not convinced that it’s as simple as that. Fail fast and pivot.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

24 Entrepreneurs Explain Why They Started Their Business

Hearpreneur

We asked some entrepreneurs and business owners, why they started their businesses: #1- Out of necessity. Since both sets of my parents went through bankruptcy while I was a child, learning about how to manage money became almost an obsession of mine. I’ve been an entrepreneur for as long as I can remember.

article thumbnail

Want to Know How VC’s Calculate Valuation Differently from Founders?

Both Sides of the Table

Back in 1999 when I first raised venture capital I had zero knowledge of what a fair term sheet looked like or how to value my company. It was accept the terms or go into bankruptcy so we took the money. And for some strange reason entrepreneurs didn’t share this information. Back then VentureHacks didn’t exist.

Valuation 405
article thumbnail

What Angel Investing & Florida Condos Have in Common

Both Sides of the Table

I kept pointing to the artificial gains in the Nasdaq in 1999 and said, “just because you bought in Feb ’99 and sold in Sept ’99 for a large gain doesn’t meant the asset was correctly priced.&# My message to everybody at the time, “Sell! This is the time it takes for a bankruptcy or asset sale to occur.

Florida 299
article thumbnail

15 Entrepreneurs Explain Why They Started Their Business

Hearpreneur

Then I realized what that qualifies me to be: an entrepreneur. Entrepreneurs have to wear a hundred different hats, be good at dozens of skills. Armchair philosophy aside, I truly believe that people with diverse skills, people who are well-rounded and good-but-not-great in many areas can make perfect entrepreneurs.

article thumbnail

6 Ways Startups Are Fooled By Prior Business Models

Startup Professionals Musings

As an entrepreneur mentor and startup investor, I see with sadness the 50 to 90 percent that fail. Just because you would have loved to have your groceries picked out and delivered, doesn’t mean the mainstream customer was ready for Webvan in 1999. But I’m not convinced that it’s as simple as that. Fail fast and pivot.