Gust

FEBRUARY 2, 2014

In some reputable surveys , as many as two-thirds of entrepreneurs felt that their entrepreneurial spirit was more ingrained than learned, so a specific education level is at least irrelevant. On the other hand, I had trouble thinking of famous entrepreneurs with an MBA. He built an overnight competitor to the U.S. Postal Service.

Entrepreneur 175

Entrepreneur Salary .Net Revenue 175

Gust

JANUARY 19, 2014

Over the years, I’ve had the privilege of working with some of the best entrepreneurs in Silicon Valley and elsewhere. On the average, the entrepreneurs I know are living on Ramen noodles. A question I sometimes get from startup founders is “What do I talk to these guys about?” Read entrepreneur stories.

Entrepreneur 172

Entrepreneur Silicon Valley Social Network Restful 172

Gust

DECEMBER 7, 2014

Eighty percent of new entrepreneurs use this approach, with only six percent using investor funding. The remaining entrepreneurs borrow from family and friends, or acquire a loan. If you chose the entrepreneur lifestyle to be your own boss, don’t accept money from anyone. Entrepreneurs need to start small and pivot quickly.

Bootstrapping 191

Bootstrapping Entrepreneur Startup Burn Rate 191

Gust

DECEMBER 1, 2013

By the time many big-company executives are ready to go out on their own as an entrepreneur, they have forgotten what it’s like to fly in coach class, buy their own health insurance, or having to deal with running out of money. The result is a startup with an exorbitant burn rate, and a very unhappy entrepreneur.

Entrepreneur 182

Entrepreneur Burn Rate Salary Lean 182

Gust

OCTOBER 16, 2012

Dropbox Co-Founder Drew Houston believes false mythologies about tech company founders do a disservice to aspiring entrepreneurs. While many people think all tech founders start with world conquering visions, says Houston, the reality is that founders learn one day at a time just like everyone else.

Houston 119

Houston Founder Cofounder Video 119

Gust

JANUARY 12, 2014

Too many entrepreneurs confuse actions with momentum and results. Founders or employees in constant motion, but with no momentum, will never get off the ground. During the early start-up phase, most of the momentum in a new company derives from the entrepreneur’s own commitment and self-sacrifice.

Entrepreneur 171

Entrepreneur Hiring Employee Operations 171

Gust

DECEMBER 18, 2013

That said, the primary entrepreneur-friendly reason for doing a Convertible Note (and the reason that no serious investor under regular circumstances will therefore do an uncapped note) is: The valuation negotiation is put off until the next round. Invested Interests convertible note entrepreneur investors series seed'

Valuation 150

Valuation Founder Seed Money Common Stock 150

Gust

FEBRUARY 3, 2013

Entrepreneurs are a notoriously stubborn (some say confident) group of people, so I see many of them making the same mistakes that predecessors have made. All the quotes come from entrepreneurs who have built and sold at least one $100 million company. Robert Jordan image via HowTheyDidIt.com. A business needs momentum.

Jordan 185

Jordan Entrepreneur Green Hiring 185

Gust

DECEMBER 1, 2011

When meeting with early stage entrepreneurs for the first time, after reviewing a demo or hearing their pitch, I often ask them to articulate what they’re most focused on building. I don’t fault entrepreneurs for relegating startup legal work to the bottom of their daily triage list; founders are spread incredibly thin.

IP 114

IP Intellectual Property Equity Liquidity Event 114

Gust

OCTOBER 12, 2014

The significant findings include the following: Founders need to live in the right place. 87% of funded founders are white, which is not too far above the US population of 77% white. Fully 39% of founders funded were formerly CEOs or had founded prior companies. More founders generally means more money. No surprises here.

Silicon Valley 182

Silicon Valley Venture Capital Massachusetts California 182

Gust

SEPTEMBER 1, 2014

The universal challenge of every startup founder is to get everything done that needs to get done, and still have a life. These steps are not aimed specifically at entrepreneurs, but I see how they can be applied there as follows: Do what you know and enjoy. Figure out what’s really important to you as an entrepreneur.

Entrepreneur 180

Entrepreneur Restful Internet Matching 180

Gust

NOVEMBER 11, 2012

A while back, when a startup founder mentioned to me that he wasn’t sure he had the personality to be an entrepreneur, I realized how important that insight was. So here is a list of mentality characteristics which I believe are absolutely necessary for you as an entrepreneur to see in yourself. Jack of all trades.

Entrepreneur 189

Entrepreneur Restful Startup Business Plan 189

Gust

APRIL 6, 2014

I see startup founders and managers who are stalled transplants from large organizations, as well as highly-capable technologists trying to start and run a business for the first time. You can still be the founder, and bring in a CEO to run the business. Invested Interests entrepreneur Peter Principle startup'

Non-Compete 148

Non-Compete Startup Management Founder 148

Gust

JULY 15, 2012

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. Sharing of their experience with next generation of entrepreneurs. Make sure they are willing to check their egos at the door. Let’s talk specifics.

Advisory Board 178

Advisory Board Technical Review Startup Software Review 178

Gust

JULY 8, 2012

The hard part for entrepreneurs is figuring out what it takes to play. Here is just a sampling of the latest terminology and lingo that I gleaned from Dave, and from some additional research on the Internet, that I think every entrepreneur should know, who may be looking for funding now, or down the road: Micro-VCs.

Early Stage 177

Early Stage Finance Seed Stage Entrepreneur 177

Gust

APRIL 20, 2014

In a startup, that’s your job as founder, and it’s a job you can’t afford to delegate. Invested Interests C-level entrepreneur startup titles' This is a fancy title for a personnel manager in a large corporation who keeps track of all the hiring and firing, and has a staff to build job descriptions and personnel policy documents.

CTO Hire 171

CTO Hire Fractional CTO Angel Investor Public Relations 171

Gust

MAY 28, 2012

Business success begins in the mind of the startup founder and his team. A winning startup is a team of entrepreneurs who build and run the business as an extension of who they are, rather than some extrapolation of the Google or Facebook model. Excellence comes when the entrepreneur takes pride in doing his best.

Entrepreneur 182

Entrepreneur Business Model Startup Design 182

Gust

SEPTEMBER 30, 2012

TechStars has several excellent mentors on staff, led by founder and CEO David Cohen. The incubation period is very short and intense, usually intending to drive entrepreneurs from ideas to marketable products in a matter of months. networking with other entrepreneurs. networking with other entrepreneurs.

Incubator 147

Incubator Entrepreneur New York City Silicon Valley 147

Gust

OCTOBER 5, 2014

When you’re considering a job at a small company, look for colleagues and founders who don’t tolerate CYA. Invested Interests corporate executive entrepreneur startup' This attitude sows division and mistrust at exactly the early stages when the business most needs to build precious esprit de corps.

Startup 165

Startup Early Stage Technical Review .Net 165

Gust

JULY 19, 2023

Being the founder of a startup can be both exciting and scary, particularly when raising capital from investors and managing your company’s finances. If this sounds familiar to you, a financial model is one tool you need to have in your corner. We’ll explain what a financial model is and how you can use it.

Finance 70

Finance Conversion Founder Startup 70

Gust

NOVEMBER 29, 2011

Crowd funding enables entrepreneurs to raise money in relatively small amounts from large numbers of interested investors. Recently, entrepreneurs in many countries have been soliciting investment through “crowd funding” websites designed specifically for fundraising purposes. Bill Clark, founder of MicroVenture Marketplace, Inc.

Securities and Exchange Commission 154

Securities and Exchange Commission Accredited Investor Angel Investor Due Diligence 154

Gust

AUGUST 22, 2012

I mention challenges and opportunities in the same breath here because it’s axiomatic among entrepreneurs that if something were easy to do well profitably at scale, it would have been done already.

Technical Review 172

Technical Review Egypt Morocco Russia 172

Gust

DECEMBER 27, 2011

I’ve had startup founders tell me that it’s only about the color of the money, but I disagree – particularly if you are desperate. Network with other entrepreneurs. Entrepreneurs are optimists by nature, so I definitely recommend the involvement of your favorite attorney (usually the pessimist).

Due Diligence 119

Due Diligence Entrepreneur Offshore Angel Groups 119

Gust

JULY 23, 2014

So, putting all that together, to get a pitch meeting with me, an entrepreneur would probably have the best result with the following strategy: Read up on the kinds of investments I make, and the kinds of opportunities I am seeking. If you have a co-founder, see if you can bring him/her along with you; I like to meet the key players.

Angel Investor 153

Angel Investor Elevator Pitch Pre-Money Valuation Technical Review 153

Gust

JANUARY 19, 2014

Over the years, I’ve had the privilege of working with some of the best entrepreneurs in Silicon Valley and elsewhere. On the average, the entrepreneurs I know are living on Ramen noodles. A question I sometimes get from startup founders is “What do I talk to these guys about?” Read entrepreneur stories.

Entrepreneur 70

Entrepreneur Silicon Valley Social Network Restful 70

Gust

DECEMBER 15, 2011

I prefer a hybrid approach because founders come from all kinds of backgrounds, and while some may have a strong point of view on every question in the startup questionnaire, others want or need more guidance in answering the questions that call for decisions to be made. Sometimes this is done in the form of a questionnaire.

Naming 141

Naming Delaware Tajikistan Database 141

Gust

NOVEMBER 14, 2011

Remember that up to this point, the investor has primarily seen and talked to the founder and CEO, and studied written documents. All private equity groups go about due diligence in their own way, but there are a few key areas of focus that entrepreneurs should always expect: • Team strength and health.

Technical Review 152

Technical Review Due Diligence Intellectual Property Private Equity 152

Gust

NOVEMBER 8, 2012

As a business lawyer working with startups in technology and digital media every day, I’m fortunate to have a front-row seat as entrepreneurs create value out of thin air. Political candidates can give all the stump speeches they want, but ultimately, the prescription is simple (though not easy): Entrepreneurial innovation.

Silicon Valley 187

Silicon Valley San Francisco Intellectual Property Accredited Investor 187

Gust

JANUARY 12, 2014

Too many entrepreneurs confuse actions with momentum and results. Founders or employees in constant motion, but with no momentum, will never get off the ground. During the early start-up phase, most of the momentum in a new company derives from the entrepreneur’s own commitment and self-sacrifice.

Entrepreneur 70

Entrepreneur Hiring Employee Operations 70

Gust

FEBRUARY 8, 2016

The post Angel Investors Spotlight: An Inside Look at Hudson Valley Startup Fund’s Investment Process & Advice for Founders appeared first on The Gust Blog. Read more >.

Angel Investor 70

Angel Investor Chad Founder Startup 70

Gust

SEPTEMBER 2, 2012

If you are a first-time entrepreneur, I recommend that you team with a co-founder with experiences, connections, and a skill set that complements, but doesn’t duplicate yours. Even experienced entrepreneurs need a partner to back up each other and improve fundability. Co-founder is a long-term relationship.

Cofounder 170

Cofounder Silicon Valley Non-Compete Startup 170

Gust

MAY 31, 2014

So before a startup receives outside funding, the board is “elected” by—and usually consists of—the founders (although it may exist in name only.). Invested Interests board of directors business entrepreneur founders startup' original post can be found on Quora @ [link] *.

Common Stock 159

Common Stock Startup Stock Founder 159

Gust

SEPTEMBER 16, 2012

Presenting your startup vision as a founder to a potential investor, or presenting an idea as an employee to an executive, requires that you effectively communicate, or “translate”, the value proposition into terms that the receiver can fully understand and appreciate. Steve Forbes image via Wikipedia.

Technology 162

Technology Agile Architecture Distribution 162

Gust

MARCH 16, 2014

Even though the class is common stock, Founders can negotiate special vesting and other terms as part of their stock restriction agreement upon venture investment. Here are some typical special terms and considerations for Founder’s stock: Negligible real value. Vesting always stops when an employee leaves the company.

Stock 175

Stock Vesting Common Stock Founder Vesting 175

Gust

DECEMBER 22, 2011

Here are a few key questions and observations that I offer to any newly incorporating startup: Who are the founders? If all goes well, the value of those assets will grow geometrically over time to eventually be worth millions or even billions. Has anyone already left the picture? Were outside advisors, contractors or consultants involved?

Intellectual Property 149

Intellectual Property Technical Review Software Review IP 149

Gust

SEPTEMBER 27, 2014

To begin with, it is important to understand some basic facts about the world of entrepreneurial finance: There are many more entrepreneurs than there are investors, with the result that only one company out of every 400 that seeks venture funding actually receives it.

Angel Groups 159

Angel Groups Elevator Pitch Software Review Deal Flow 159

Gust

JUNE 8, 2014

How do entrepreneurs establish and maintain rapport with people they rarely see, and team members who have never met? Effective founders work to create and maintain an environment of team trust to defuse miscommunications. The founder or leader must actively engage team members early, and follow up to ensure appropriate resolution.

Global 187

Global Technology Founder Entrepreneur 187