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. That’s the function of a good advisory board. In other cases, an advisor with strong customer, distributor, or celebrity status might be important.

Advisory Board 308

Advisory Board Angel Investor Startup Later Stage 308

Up and Running

AUGUST 30, 2017

Working out a business plan for your daycare center can be a challenge. As someone who owns eight successful daycares in the Chicago area, I know the strategies and approaches that work when it comes to developing a sound business plan for a daycare center. It serves as a cornerstone of your vision as you move forward.

Business Plan 93

Business Plan SBA Software Review Advisory Board 93

Startup Professionals Musings

SEPTEMBER 30, 2013

Here are some tips which will signal traction and fundability to investors, as well as to your team: Document your business plan. It’s hard to build a business without a plan, just like it’s hard to build a house without a blueprint. Build qualified advisory board. Get a real customer and real revenue.

Intellectual Property 281

Intellectual Property Entrepreneur Sweat Equity CTO Hire 281

Startup Professionals Musings

NOVEMBER 7, 2022

Even with advantages that independent startups can never hope to match, including brand recognition, customers, financial capital, and distribution, I don’t often see the entrepreneurial passion for innovation, agility, and team perseverance exhibited by new startups. A documented business plan for the new venture is critical here.

Advisory Board 359

Advisory Board Incubator Dilution Agile 359

Startup Professionals Musings

AUGUST 31, 2012

Here are some tips which will signal traction and fundability to investors, as well as to your team: Document your business plan. It’s hard to build a business without a plan, just like it’s hard to build a house without a blueprint. Build qualified advisory board. Get a real customer and real revenue.

Intellectual Property 260

Intellectual Property Sweat Equity CTO Hire Fractional CTO 260

Startup Professionals Musings

AUGUST 13, 2012

People ask me if they really need ANY business plan, unless they are looking for an outside investor. In fact, a business plan is needed more by you than investors, as the blueprint for your company, team communication, and progress metrics. Solution and benefits. Skip the technical jargon and hyperbole.

Business Plan 283

Business Plan Sweat Equity Exit Strategy Intellectual Property 283

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. That’s the function of a good advisory board. In other cases, an advisor with strong customer, distributor, or celebrity status might be important.

Advisory Board 151

Advisory Board Angel Investor Later Stage Stock 151

Startup Professionals Musings

JUNE 17, 2011

Here are some tips which will signal traction and fundability to investors, as well as to your team: Document your business plan. It’s hard to build a business without a plan, just like it’s hard to build a house without a blueprint. Build qualified advisory board. Get a real customer and real revenue.

Intellectual Property 253

Intellectual Property Sweat Equity CTO Hire Fractional CTO 253

Startup Professionals Musings

MAY 13, 2011

People ask me if they really need ANY business plan, unless they are looking for an outside investor. In fact, a business plan is needed more by you than investors, as the blueprint for your company, team communication, and progress metrics. Solution and benefits. Skip the technical jargon and hyperbole.

Business Plan 290

Business Plan Sweat Equity Exit Strategy Intellectual Property 290

Up and Running

MAY 10, 2012

Any organization can visit our site and launch a one-off campaign,” he explains, or subscribe to WeDidIt for unlimited campaigns and premium features like consultation and customized software. ” By August they had filed their incorporation paperwork and started marketing their new business.

Small Business 142

Small Business Advisory Board Employee Entrepreneur 142

Startup Professionals Musings

MAY 22, 2010

Here are some tips which will signal traction to investors, as well as your team: Document your business plan. It’s hard to build a business without a plan, just like it’s hard to build a house without a blueprint. Build qualified advisory board. Get a real customer and real revenue.

Intellectual Property 222

Intellectual Property Sweat Equity CTO Hire Fractional CTO 222

crowdSPRING Blog

FEBRUARY 14, 2019

Here’s an 11 step complete guide on how to start a business. Write a business plan. Decide your legal business structure. Purchase business insurance. Create a sales plan. Don’t make the expensive mistake of trying to create a business geared toward too broad an audience.

Angel Investor 85

Angel Investor Small Business Business Plan Intellectual Property 85

Gust

AUGUST 5, 2012

People ask me if they really need ANY business plan, unless they are looking for an outside investor. In fact, a business plan is needed more by you than investors, as the blueprint for your company, team communication, and progress metrics. Solution and benefits. Skip the technical jargon and hyperbole.

Business Plan 182

Business Plan Sweat Equity Exit Strategy Intellectual Property 182

Startup Professionals Musings

APRIL 22, 2010

People ask me if they really need ANY business plan, unless they are looking for an outside investor. In fact, a business plan is needed more by you than investors, as the blueprint for your company, team communication, and progress metrics. Solution and benefits. Skip the technical jargon and hyperbole.

Business Plan 186

Business Plan Exit Strategy Sweat Equity Intellectual Property 186

Startup Professionals Musings

OCTOBER 9, 2023

Most technical entrepreneurs focus hard on building an innovative product, but forget that an elegant solution doesn’t automatically translate into a successful business. Businesses require an equally elegant business model, with the right price, messaging and delivery channel to the right target customers to keep the dream alive and growing.

Technical Review 220

Technical Review Advisory Board Software Review Business Model 220

Up and Running

JUNE 16, 2014

Make no mistake, you will need to have a business model or a business plan that shows just where you sit in relation to your competitors. To demonstrate traction you might recruit a good management team, start making sales, build an advisory board or secure strategic partnerships. Cash Flow and a Financial Plan.

Exit Strategy 91

Exit Strategy Advisory Board Business Plan Portfolio 91

Startup Professionals Musings

JANUARY 30, 2021

Most technical entrepreneurs focus hard on building an innovative product, but forget that an elegant solution doesn’t automatically translate into a successful business. Businesses require an equally elegant business model, with the right price, messaging and delivery channel to the right target customers to keep the dream alive and growing.

Technical Review 399

Technical Review Product Advisory Board Business Model 399

Up and Running

MAY 20, 2014

Data is changing the way that businesses operate, and most of the start-ups that I see achieving success are highly reliant on customer analytics. While data science is still a nascent field, knowing basic calculus and statistics and learning how they are applied to modeling and forecasting changed the way I think about customers.

Entrepreneur 88

Entrepreneur Advisory Board Silicon Valley New York 88

crowdSPRING Blog

FEBRUARY 28, 2019

If you want to take the plunge and start your own photography business, there is a lot to consider. Here’s a complete, 10 step guide on how to start a photography business. Write a business plan. Decide your legal business structure. Purchase business insurance. Create a sales plan.

Business Plan 64

Business Plan Small Business Administration Hiring Social Media 64

OnlyOnce

JULY 9, 2013

Chapter 2: Defining and Testing the Story…Start Out By Admitting You’re Wrong, A Lean Business Plan Template, Problem, Solution, Key Metrics, Unique Value Proposition and Unfair Advantages, Channels, Customer Segments, Cost Structure and Revenue Streams. Chapter 3: Telling the Story to Your Investors…The Business Plan is Dead.

Startup 95

Startup Advisory Board Elevator Pitch Forecast 95

Startup Professionals Musings

AUGUST 4, 2013

In other words, once they are convinced that the product works, they assume their price, sales channel, and marketing will bring in the customers. Proving the business model requires a different approach than proving the technical concept. For example, one CEO I know gave away his software product to the first ten customers.

Business Model 235

Business Model Product Advisory Board Angel Investor 235

Startup Professionals Musings

JUNE 30, 2012

In other words, once they are convinced that the product works, they assume their price, sales channel, and marketing will bring in the customers. Proving the business model requires a different approach than proving the technical concept. For example, one CEO I know gave away his software product to the first ten customers.

Business Model 248

Business Model Advisory Board Entrepreneur Angel Investor 248

ConversionXL

AUGUST 11, 2021

To uncover audience problems and motivations, call on your brand market research or customer service data. The more you know about your audience, the better you can customize your offer to appeal to the right kind of sponsors. This is basically a business plan—and snapshot of the benefits of your property [assets].

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Audience Social Media Email Ruby 139

Startup Professionals Musings

JUNE 5, 2014

According to a recent industry report on travel spending, small businesses buy 37% more airline tickets than big business travelers, and spend 24% more when on the road. Yet I still see business plans and funding plans for startups that have minimal or no allocation for travel. Brand building requires travel time.

Small Business 251

Small Business Advisory Board Silicon Valley Boston 251

Startup Professionals Musings

FEBRUARY 13, 2016

As a startup advisor and investor, I recommend a pitch deck with about 10 slides backed up with a written business plan of approximately 20 pages, both containing quantified answers to the following key questions. What is the business problem you are solving? What is your specific solution and value proposition?

Sweat Equity 120

Sweat Equity Advisory Board Liquidity Event Startup 120

Startup Professionals Musings

APRIL 15, 2011

In other words, once they are convinced that the product works, they assume their price, sales channel, and marketing will bring in the customers. Proving the business model requires a different approach than proving the technical concept. For example, one CEO I know gave away his software product to the first ten customers.

Business Model 234

Business Model Advisory Board Startup Angel Investor 234

Small Business Force

SEPTEMBER 9, 2011

You have some actual customers, driving real revenue and maybe even have an employee or two. In fact, you've never really run a business. And now here you are, all alone, trying to figure out how to take that concept, those few customers, that couple of employees and create a sustaining, scalable business.

Early Stage 32

Early Stage Advisory Board Technical Review Web Development 32

Small Business Force

SEPTEMBER 9, 2011

You have some actual customers, driving real revenue and maybe even have an employee or two. In fact, you've never really run a business. And now here you are, all alone, trying to figure out how to take that concept, those few customers, that couple of employees and create a sustaining, scalable business.

Early Stage 20

Early Stage Advisory Board Technical Review Employee 20

Steve Blank

FEBRUARY 12, 2015

You’ll realize you’re ready to exit the Search step when you have customer validation: You’ve found a sales channel that matches how the customer wants to buy and the costs of using that channel are understood. If he already had an advisory board (formal and/or informal), add CEO’s who have been through this phase.

Startup 120

Startup Lean Venture Capital Advisory Board 120

Startup Professionals Musings

APRIL 5, 2010

In other words, once they are convinced that the product works, they assume their price, sales channel, and marketing will bring in the customers. Proving the business model requires a different approach than proving the technical concept. For example, one CEO I know gave away his software product to the first ten customers.

Business Model 120

Business Model Advisory Board Angel Investor Channel 120

Business Plan Blog

DECEMBER 10, 2013

Below are the milestones that you will need to achieve in order to attract seed investment from Angels: Business Plan. A major piece of the business plan will be your capitalization strategy demonstrating the milestone timeline discussed above as well as the effects of accomplished milestones on the company’s future valuation.

Angel Investor 55

Angel Investor Intellectual Property Seed Capital Advisory Board 55

Business Plan Blog

NOVEMBER 22, 2013

Business Plan. You may have gotten through your FFF round without a business plan, but in order to attract seed investors you will need a comprehensive plan complete with extensive market research and a detailed financial model. Founding Team, Key Hires, Advisory Board. Startup Funding'

Intellectual Property 55

Intellectual Property Advisory Board Startup Seed Capital 55

VC Cafe

FEBRUARY 22, 2010

My advisory board matters – if you mention you’re advisors too much, there’s something wrong with the team. My business plan may not lead to a profitable business but it has significant value to strategic acquirers - consistent cash flows are the most important thing to investors. Off course they think it’s great.

Advisory Board 101

Advisory Board NDA Entrepreneur Early Stage 101

Startup Professionals Musings

FEBRUARY 7, 2015

Most technical entrepreneurs focus hard on building an innovative product, but forget that an elegant solution doesn’t automatically translate into a successful business. Businesses require an equally elegant business model, with the right price, messaging and delivery channel to the right target customers to keep the dream alive and growing.

Business Model 120

Business Model Technical Review Advisory Board Software Review 120

Steve Blank

OCTOBER 11, 2016

He was also on the team that wrote the business plan for BlackGirlsCode. In 2014, Business Insider listed Dan as one of the top 46 African Americans in Tech. Filed under: Customer Development , SiriusXM Radio Show. With Freshsessions, Dan thought he was on to a great idea. If you can’t hear the clip, click here.

Columbus 245

Columbus Entrepreneur Ohio Cofounder 245

crowdSPRING Blog

MARCH 14, 2019

If you want to take the plunge and start your own real estate business, there is a lot to consider. Here’s a complete, 11 step guide on how to start a real estate business. Write a business plan. Decide your legal business structure. Purchase business insurance. Create a sales plan.

Business Plan 79

Business Plan Limited Liability Company Small Business Sales 79

Tim Keane

JANUARY 14, 2009

One big example of this is boards of advisers, a real important concept for almost every entrepreneurial business.    I am constantly impressed by the high quality of members of advisory boards on opportunities I get to see.  John Mullins: Getting to Plan B: Breaking Through to a Better Business Model.

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Advisory Board Wisconsin Bootstrapping Angel Investor 60