Startup Professionals Musings

NOVEMBER 27, 2022

In my role as an angel investor to startups, I’m struck by the broad variety of advisor strategies I see in investor presentations and business plans that cross my desk. Some entrepreneurs are “lone rangers,” never mentioning any outside guidance, while others tout dozens of advisors. Advisors in name-only will hurt you.

Advisory Board 308

Advisory Board Angel Investor Startup Later Stage 308

Startup Professionals Musings

JANUARY 2, 2022

Quite a while back, I outlined “ The 10 Best Sources of Cash to Start Your Business ” for startups, listing angel investors as alternative six. I still get a lot of questions on these mysterious and often invisible investors, so here is another attempt to bring them out of the ether. So how do you find those good angels?

Angel Investor 384

Angel Investor Advisory Board Database Institutional Investors 384

Startup Professionals Musings

MAY 3, 2017

Many entrepreneurs I know are confused by definition and need for an Advisory Board versus a Board of Directors. By definition, Advisory Boards are voluntary and have no fiduciary responsibility. How much are you willing to spend on your board? Legally, Directors are accountable for corporate conduct.

Advisory Board 174

Advisory Board IPO Angel Investor Acquisition 174

Startup Professionals Musings

SEPTEMBER 30, 2013

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. I hear a lot of entrepreneurs contemplating their great “idea” for several years with little discernable progress, and looking for money to start.

Intellectual Property 281

Intellectual Property Entrepreneur Sweat Equity CTO Hire 281

Startup Professionals Musings

FEBRUARY 6, 2022

Many entrepreneurs I know are confused by the definition and need for an Advisory Board versus a Board of Directors. By definition, Advisory Boards are voluntary and have no fiduciary responsibility. How much are you willing to spend on your board? Do you expect involvement in company operations?

Advisory Board 348

Advisory Board IPO Angel Investor Acquisition 348

Startup Professionals Musings

FEBRUARY 16, 2018

As an angel investor, I routinely toss business plans that focus too much on today, and don’t talk about tomorrow. I was happy to see a real focus on preparing for tomorrow highlighted in a new book, “ Start a Successful Business ,” by Colleen DeBaise, who has made a career of studying and writing about entrepreneur challenges.

Customer 144

Customer Advisory Board Technical Review Angel Investor 144

Startup Professionals Musings

MAY 8, 2019

Image via Flickr by MDGovpics Many entrepreneurs I know are confused by definition and need for an Advisory Board versus a Board of Directors. By definition, Advisory Boards are voluntary and have no fiduciary responsibility. How much are you willing to spend on your board?

Advisory Board 247

Advisory Board IPO Angel Investor Startup 247

Startup Professionals Musings

JULY 23, 2011

A while back, I outlined “ Most Startups Get No Professional Investor Cash ” for startups, listing angel investors as alternative #6. I still get a lot of questions on these mysterious and often invisible investors, so here is another attempt to bring them out of the ether. So how do you find those good angels?

Angel Investor 242

Angel Investor Advisory Board Startup Database 242

Startup Professionals Musings

JUNE 27, 2010

A while back, I outlined “ Ten Top Funding Sources for Startups ” for startups, listing angel investors as alternative #6. I still get a lot of questions on these mysterious and often invisible investors, so here is another attempt to bring them out of the ether. If you need more, you need VCs or a flock of angels.

Angel Investor 227

Angel Investor Advisory Board Database Institutional Investors 227

Startup Professionals Musings

MARCH 27, 2019

A while back, I outlined “ The 10 Best Sources of Cash to Start Your Business ” for startups, listing angel investors as alternative six. I still get a lot of questions on these mysterious and often invisible investors, so here is another attempt to bring them out of the ether. So how do you find those good angels?

Advisory Board 247

Advisory Board Angel Investor Database Institutional Investors 247

Startup Professionals Musings

JULY 11, 2021

As an angel investor to startups, I’m still surprised to find entrepreneurs who expect investors to give them money, and assume no strings attached. Finally, entrepreneurs should never forget that investors really believe that they are there to help (not like “I'm from the IRS and I'm here to help”).

Term Sheet 433

Term Sheet Advisory Board Liquidation Preference Startup 433

Startup Professionals Musings

JUNE 8, 2016

One of the myths I often hear as an advisor to many entrepreneurs is that their lifestyle would somehow be better if they could more easily find other people’s money to build their startup. Most entrepreneurs never forget for a moment that having investors means owing money, even if they can legally argue that equity is not debt.

Bootstrapping 120

Bootstrapping Advisory Board Startup Venture Capital 120

www.instigatorblog.com

MARCH 2, 2010

The Importance of Advisory Boards for Startup CEOs Tweet When a startup receives financing it will need to setup a Board of Directors. The Board probably existed beforehand, but was made up only of the founders. Once funding takes place, the angels or VCs will want a seat at the table. Why wouldn’t you?

Advisory Board 40

Advisory Board Startup Cofounder Equity 40

Startup Professionals Musings

AUGUST 31, 2012

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. I hear a lot of entrepreneurs contemplating their great “idea” for several years with little discernable progress, and looking for money to start.

Intellectual Property 260

Intellectual Property Sweat Equity CTO Hire Fractional CTO 260

Startup Professionals Musings

JUNE 17, 2011

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. I hear a lot of entrepreneurs contemplating their great “idea” for several years with little discernable progress, and looking for money to start.

Intellectual Property 253

Intellectual Property Sweat Equity CTO Hire Fractional CTO 253

Startup Professionals Musings

JULY 6, 2016

In my role as an angel investor to startups, I’m struck by the broad variety of advisor strategies I see in investor presentations and business plans that cross my desk. Some entrepreneurs are “lone rangers,” never mentioning any outside guidance, while others tout dozens of advisors. Advisors in name-only will hurt you.

Advisory Board 151

Advisory Board Angel Investor Later Stage Stock 151

Board Effect

NOVEMBER 18, 2020

Your founders and board members won’t always have the necessary expertise you need in every area to be competitive and sustainable. An advisory board can be of great assistance to your startup by filling crucial gaps in your leadership talent. Let’s begin with the definition of the role of a startup advisory board member.

Advisory Board 84

Advisory Board Angel Investor Technical Review Startup 84

Startup Professionals Musings

DECEMBER 11, 2010

I meet with dozens of entrepreneurs a week. When I get funded,” the entrepreneur thinks, “I can build a prototype, hire a development team, go to market, scale more quickly, and beat my competition.” She is a true angel investor, and has helped package and secure funding for many high-tech startup companies in the area.

Advisory Board 233

Advisory Board Cofounder Phoenix Arizona 233

Startup Professionals Musings

OCTOBER 27, 2013

A while back, I outlined “ The 10 Best Sources of Cash to Start Your Business ” for startups, listing angel investors as alternative #6. I still get a lot of questions on these mysterious and often invisible investors, so here is another attempt to bring them out of the ether. If you need more, you need VCs or a flock of angels.

Matching 253

Matching Advisory Board Angel Investor Database 253

Startup Professionals Musings

MAY 22, 2010

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 vehicle doesn’t have wheels. Talk and time are cheap, but they need to understand that investors judge past results as a good indicator of future expectations.

Intellectual Property 222

Intellectual Property Sweat Equity CTO Hire Fractional CTO 222

Startup Professionals Musings

SEPTEMBER 21, 2012

A while back, I outlined “ The 10 Best Sources of Cash to Start Your Business ” for startups, listing angel investors as alternative #6. I still get a lot of questions on these mysterious and often invisible investors, so here is another attempt to bring them out of the ether. If you need more, you need VCs or a flock of angels.

Angel Investor 245

Angel Investor Advisory Board Database Institutional Investors 245

Startup Professionals Musings

MARCH 27, 2017

A while back, I outlined “ 10 Tried-And-True Strategies For Funding New Ventures ” for startups, listing angel investors as alternative six. I still get a lot of questions on these mysterious and often invisible investors, so here is another attempt to bring them out of the ether. So how do you find those good angels?

Advisory Board 120

Advisory Board Angel Investor Database Institutional Investors 120

Startup Professionals Musings

FEBRUARY 28, 2012

The naïve entrepreneur thinks he can relax, after he finally cashes the check from a professional investor, but in reality that’s when the work and the pressure starts. Angel and venture capital investors rarely just give you the cash, and stand back to wait for you to spend it the way you want. Do it with your eyes open.

Advisory Board 241

Advisory Board Entrepreneur Venture Capital Angel Investor 241

Startup Professionals Musings

JULY 28, 2017

As a new business advisor and angel investor, I have assembled my own favorite list of shortcuts to avoid, in the hope of saving you from learning these lessons the hard way: Be satisfied with verbal or handshake partner agreements. Never taking the time to enlist and learn from advisors.

Cost 180

Cost Advisory Board Entrepreneur Angel Investor 180

Startup Professionals Musings

JUNE 30, 2012

Many entrepreneurs work hard on the proof of concept (technical), but skip any proof of the business model (revenue flow). Here is where your Advisory Board can help you in finding real people with deep experience in your product domain, and gather some unbiased feedback. These days, the technical side may be the easy part.

Business Model 248

Business Model Advisory Board Entrepreneur Angel Investor 248

Business Plan Blog

DECEMBER 10, 2013

The Milestones Angel Investors Care About. The most important principle of startup fundraising that every entrepreneur needs to know is: raise enough capital to achieve a set of milestones that will allow the company to attract the next round of investment. Founding Team, Key Hires, Advisory Board.

Angel Investor 55

Angel Investor Intellectual Property Seed Capital Advisory Board 55

Startup Professionals Musings

DECEMBER 31, 2010

The naïve entrepreneur thinks he can relax, after he finally cashes the check from a professional investor, but in reality that’s when the work and the pressure starts. Angel and venture capital investors rarely just give you the cash, and stand back to wait for you to spend it the way you want. Do it with your eyes open.

Advisory Board 231

Advisory Board Entrepreneur Venture Capital Angel Investor 231

crowdSPRING Blog

FEBRUARY 14, 2019

What are my expectations of being an entrepreneur? Toby Nwazor advocates for creating a business plan : Any experienced entrepreneur knows a company without a business plan is like a fish without water. Studies show that entrepreneurs who take the time to write a business plan are 2.5 Angel Investors and Venture Capitalists.

Angel Investor 85

Angel Investor Small Business Business Plan Intellectual Property 85

Startup Professionals Musings

FEBRUARY 3, 2018

As an angel investor to startups, I’m still surprised to find entrepreneurs who expect investors to give them money, and assume no strings attached. Finally, entrepreneurs should never forget that investors really believe that they are there to help (not like “I'm from the IRS and I'm here to help”).

Term Sheet 140

Term Sheet Advisory Board Liquidation Preference Portfolio 140

Startup Professionals Musings

AUGUST 4, 2013

Many entrepreneurs work hard on the proof of concept (technical), but skip any proof of the business model (revenue flow). Here is where your Advisory Board can help you in finding real people with deep experience in your product domain, and gather some unbiased feedback. entrepreneur startup proof of concept business model'

Business Model 235

Business Model Product Advisory Board Angel Investor 235

Startup Professionals Musings

JULY 3, 2014

As an Angel investor to startups, I’m still surprised to find entrepreneurs who expect investors to give them money, and then disappear into the sunset. Finally, entrepreneurs should never forget that investors really believe that they are there to help (not like “I''m from the IRS and I''m here to help”).

Term Sheet 237

Term Sheet Liquidation Preference Advisory Board Startup 237

Startup Professionals Musings

AUGUST 16, 2015

As an angel investor to startups, I’m still surprised to find entrepreneurs who expect investors to give them money, and assume no strings attached. Finally, entrepreneurs should never forget that investors really believe that they are there to help (not like “I'm from the IRS and I'm here to help”).

Term Sheet 120

Term Sheet Advisory Board Liquidation Preference Angel Investor 120

Steve Blank

SEPTEMBER 30, 2015

That was the message from the latest guests on Entrepreneurs are Everywhere , my radio show on Sirius XM Channel 111. David Lerner is an entrepreneur, angel investor and director of entrepreneurship at Columbia University. Entrepreneurs are Everywhere airs Thursdays at 1 pm Pacific, 4 pm Eastern on Sirius XM Channel 111.

Artificial Inteligence 120

Artificial Inteligence Entrepreneur Silicon Valley New York 120

The Startup Magazine

MAY 28, 2019

Definitely one of your steps towards expansion was your recently closed funding round, which attracted angel investors from all over Europe. Tell us about your advisory and investor teams? We have already plans to expand Embargo to other cities in the UK and the world. This and next year a lot will happen on this front.’.

Advisory Board 90

Advisory Board Startup Angel Investor Cofounder 90

Startup Professionals Musings

APRIL 15, 2011

Many entrepreneurs work hard on the proof of concept (technical), but skip any proof of the business model (revenue flow). Here is where your Advisory Board can help you in finding real people with deep experience in your product domain, and gather some unbiased feedback. These days, the technical side may be the easy part.

Business Model 234

Business Model Advisory Board Startup Angel Investor 234

The Startup Magazine

JUNE 19, 2018

Earlier this year at the FUND Conference in Austin, Texas, over 100 startups presented their early-stage companies in front of hundreds of investors and industry leaders. FUND is a national connector of entrepreneurs, VCs, angel investors, and industry experts with a focus on deal flow and making connections. Our people!

Texas 73

Texas Advisory Board Startup Angel Investor 73

Startup Professionals Musings

AUGUST 13, 2012

Many entrepreneurs scare away potential investors by claiming that their technology represents “truly disruptive technology.” Remember that investors like industries that have a billion dollar opportunity, and a double-digit growth rate. Investors invest in people - not just ideas.

Business Plan 283

Business Plan Sweat Equity Exit Strategy Intellectual Property 283