VC Seed Funding Example: Trada

Feld Thoughts

My partner Seth Levine has a detailed post up today titled Trada – from the beginning that describes the creation and financing of Trada. Instead we quickly put our heads together about a financing (we like to say it was over beers, but the truth is more mundane – we hammered out the details in a 10 minute conversation in the conference room of the Foundry office). A few strategic angels were added to this round.

TabbedOut Adds $3.7M

Austin Startup

While we have not seen the SEC filing, or an official statement from TabbedOut, TechCrunch is reporting today that TabbedOut has raised an additional $3.7M, perhaps as an extension of their Series A financing. Back in October we wrote about their $2M Series A, which added to their angel financing of $750K brought their total funding to $2.8M. Now with this additional $3.7M, their total financing is up to $6.5M.

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The Microsoft Accelerator, round 2!

David Cohen

Most of those companies from the Kinect program are doing great, and many have gone on to raise venture capital or angel financing since the program ended. The Microsoft Accelerator for Kinect concluded earlier this year.

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Should Investors in the Same Round of Financing Ever Get Different Prices?

Both Sides of the Table

But Paul Graham really did have a point in his “ high resolution fundraising ” post – that there is a problem – particularly in angel financing – with herding cats. Since 2009 I have been counseling people to offer discounts to the first angel investors.

Honest Tea TeaEO Seth Goldman: Dos and Don’ts of Raising Money From Angels

Campus Entrepreneurship

The piece offers his thoughts on Angel investing and how Honest Tea approached it. From the Inc piece, The Dos and Dont’s of Raising Money From Angels. First round of angel financing ($500,000). Second round of Angel financing ($1.2 Goldman explains the costs and benefits of Angel investors based on his experience and by doing so adds more life to the business plan. (I

Strategy Roundtable For Entrepreneurs: Crowd Sourced Funding Exchanges - An Emerging Trend

ReadWriteStart

Earlier, of course, we covered AngelList at length , also a crowd sourcing venture in the angel financing space, and this week, we have covered SecondMarket , which is powering Facebook's private market capital raising.

The Importance of Robust Angel Ecosystems

VC Adventure

Earlier this week I gave the keynote address at the Colorado Angel Capital Summit. While the audience was Colorado focused, the overall message I delivered about the angel ecosystem is very relevant to all entrepreneurial communities.

Answers to the 5 Most Common Angel Investor Questions

Growthink Blog

On Wikipedia, I found the word "angel" defined as "a supernatural being or spirit, often depicted in humanoid form with feathered wings on their backs and halos around their heads." While this might depict an "angel," it certainly is a far cry from the definition of an "angel investor."

Startup Strategy Roundtable: Top 10 Tech Trends To Watch

ReadWriteStart

The company is profitable and has so far raised only $400,000 in friends and family and angel financing. At this point, he can grow organically and leverage channel partners and other creative modes of non-equity financing and preserve equity as much as possible.

The most important person on the startup team

Berkonomics

500 CEO, serial entrepreneur and the founder of New York Angels. founder and CEO of Gust, the angel financing platform used by over 50,000. accredited investors in 1,000 angel groups and venture capital funds to. By David S.

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Startup Capital: Feast or Famine?

Gust

Sources of Capital for Startup Entrepreneurs – The primary sources of cash for new companies are (1) self (the entrepreneurs’ resources), (2) government grants, (3) friends and family, (4) angel investors and Super Angels , (5) venture capitalists and (6) strategic investors. Let’s take a closer look at trends in government grants, angel investment and venture capital financings. It appears to me that there are about 100 Super Angels in the US.

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What Should You Do with Your Crappy Little Services Business?

Both Sides of the Table

It’s nearly impossible to get a services company financed by VCs. They have created two internal technology “products&# and wanted to figure out how they could turn their services business into a product business that could be financed.

IP 362

Who, When, and How Much? A Quick Introduction to Startup Financing

Gust

For a first time entrepreneur trying to figure out the arcane world of startup financing, it can be very confusing to understand the roles that different types of investors play in funding promising companies, as well as the point in a company’s life at which they enter the stage. It is not unusual to hear people refer to “angels-and-vcs” in a single breath, even though those are two very distinct groups with different attributes.

Crowdfunding Sites Offer 5 Hidden Benefits

Growthink Blog

To start, Crowdfunding is the process of getting a group of regular individuals (versus banks, venture capitalists or angel investors) to collectively fund your venture.

The 5 Key Stages of Equity Funding

Growthink Blog

Mezzanine Financing Most companies that raise equity capital and are eventually acquired or go public receive multiple rounds of financing first. Put everything else on your "wish list" to buy with revenues from sales or additional financing.

How to Find the Perfect Startup Job: Part I "Start with 'When'"

Genuine VC

Much of the VC blogosphere commentary about startups covers venture and angel financing with advice focused on company founders. The primary dimension on which startups differ is stage: two guys in a garage is definitely a startup, so is a thirty person company growing with a second round of financing, and so is a 250 person company preparing for an IPO.

Growth requires a different kind of capital.

Berkonomics

Venture or angel-financed companies with plenty of working capital sometimes are immune to this need for some time into their growth, but at some point it will become clear that the cheapest form of finance is not equity in a growing enterprise.

Families Help Nurture Vanderbilt Entrepreneurs

Campus Entrepreneurship

Mitra points out that the free rent may have been worth up to $20,000 in angel financing? Great piece from Sramana Mitra highlighting two entrepreneurs that launched an educational software firm, Archipelago Learning, out of Vanderbilt. Mitra highlights the importance of supportive friends and families as founders, especially young ones, begin the process of building a sustainable business.

Why Capital Factory?

Austin Startup

Today the company has successfully raised angel financing, and they are investing in faster growth and adoption of their family gaming platform. The application deadline for Austin-based Capital Factory ’s 2011 program is Sunday , and momentum for tech startups and entrepreneurship in general are riding high as the SXSW Interactive festival wraps up.

Angel Funding Advice

Both Sides of the Table

Last night I attended a DealMaker Media (whom I love because they always host such great discussions) panel on raising angel money moderated by Dan Gould and with panelists Rob Hayes (First Round Capital, more seed or A round than angel), Scot Sangster (with OrganicStartup and the best spokesperson for Tech Coast Angels that I have met to date), Tom McInerney (TGM) and Jarl Mohn (who invests on his own “account&# and whose track record is truly humbling).

Convertible Equity, A Better Alternative To Convertible Debt?

techcrunch.com

There has been no shortage of controversy and criticism around the convertible note, a popular investing vehicle that’s used by seed stage and angel investors. Ressi estimates that the debt note now accounts for over 50% of all angel and early stage deals. Startups. Mobile.

A "Rich-vs.-King" Approach to Term Sheet Negotiations

Altgate

Share and Enjoy: This entry was posted in Entrepreneurship , Venture Capital and tagged angel financing , entrepreneur , founder , fund raising , negotiation , startup , term sheet , venture capital.

Interview with Sramana Mitra on 1M/1M Program

Life Beyond Code

Through this journey, we have raised the visibility of fundamental issues like the causes of exorbitantly high infant entrepreneur mortality, and alerted the entrepreneur community with a simple observation: Entrepreneurship = (Customer + Revenue + Profits); Financing is Optional. This, of course, doesn’t mean that we discourage entrepreneurs to seek financing. 1M/1M Program has a bold mission.

Bras Meet Software at Babson

Campus Entrepreneurship

The company is about to close a $500,000 – $700,000 round of angel financing. via Where Bras Meet Software: Zyrra Raises Money From Jess McLear, Jean Hammond, & Local Angels For Its Bra Industry “Revolution” | Xconomy. Tags: American Exceptionalism Business Plans & Competitions Campus Eco-System Entrepreneur Profiles angel investing Babson MBA Christi Andersen custom bras Golden Seeds layered financing MassChallenge Zyrra

Knowledge Is Power: Convertible Note Financing Terms, Part V

Gust

As we conclude our convertible note financing series, there are assorted terms commonly seen in term sheets and deal documents that are worth touching on briefly. This is the norm for West Coast deals, but it’s often the case in dealing with East Coast investors (more commonly for VC financing rounds rather than angel seed rounds) that the lead investor wants its lawyers to draft the documents.

Startup Tools

steveblank.com

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Useful blogs and links for startups Click Here ————– 2. Research, Web prototyping, Testing and Building Tools Lists of Tools from Others HBS Startup Tribe Tools List – from Tom Eisenmann at HBS PBworks startup tools List Startup Foundry tools list Small Business tools list Groups Lean Startup Circle – Google Group for startup advice Startup Weekend – Launch a Startup in 54 hours The Lean Startup Machine - Launch a Startup in 48 hours Women 2.0 – Launch a startup for women SEO and Analytics Tutorials Startup Metrics for Pirates – read this before you spend time elsewhere SaaS Metrics Tutorial – worth reading as well The Noob Guide to Online Marketing – great graphic and tutorial Analytics review – mixpanel vs kissmetric vs google analytics review Analytics blog – good analytics tutorials SEO for Startups – good tutorial Andrew Chen’s Essays – great web customer acquisition tutorials Analytics Tools Google Analytics – web analytics from the borg Kissmetrics – actionable analytics GetClicky – real-time web analytics Swix – analytics for social media and online Mixpanel – real-time event tracking Crazyegg – visualize analytics Mint – site analytics Visistat – web analytics measure marketing campaigns Webtrends – analytics and segments Chartbeat – web analytics Search Engine Optimization Tools Google Keywords Tool AdGrok – Google adwords optimization tool SEOBook Tools – Free SEO tools SEO Digger – Find the top ten keywords ranking to your websites SEMRush – SEO and campaign management tool Clickable – Pay per click management Spyfu – tells you how much adwords cost Market Samurai – SEO Keyword Analysis Tool Online Marketing Suites HubSpot - online marketing and web analytics system Performable – personable web analytics/lifecycle marketing Custora – customer retention, churn reduction, lifetime value Zoho – free/cheap web customer relationship mgmt software Highrise – small business CRM Zferral – affiliate and referral marketing on the web Genoo – marketing automation software MarketBright – marketing automation suite Email Blasting Best email Subject-lines Tout – email blast and mgmt software Campaigner - email marketing suite Exact Target – social media and email marketing Postmark – email blast and mgmt software Mad Mimi – email blast software SendGrid – email blast software Amazon Simple Email Service (SES) - pretty cool Campaign Monitor – basic email software Litmus – email previews and email analytics Emma – basic email marketing MailChimp – free basic email blast software Surveys Quickker – Create surveys, manage respondents, track responses Zoomerang - Free basic version, surveys polls, 150+ templates Ethnio - Recruit real people from your website for user research Qualtrics – cloud-based survey, free account KissInsights – survey visitors while they surf your site Wufoo - create contact forms, online surveys and event registrations. Poplytics – online surveys and analytics AskYourTargetMarket – market research surveys SurveyMonkey - granddaddy of on-line surveys Amazon Mechanical Turk – you can set up a question and get answers PickFu – A/B testing $5 for 50 opinions Collaboration Dropbox – store, sync, and, share files online. Google Apps – Email, Chat, Docs Skype - free voice and video communication tool Campfire – team collaboration Slideshare – share Powerpoints and docs with customers Ning – Create your own social network Yammer – free enterprise social network Doodle – online group scheduling Freeconferencecall.com – Free conference calls Syncpad – collaborative whiteboard On-line Communities Stack Overflow - questions and answers for programmers Quora – questions and answers for non-programmers Yahoo Answers - post questions, sometimes get answers Disqus – Comments Platform WordPress - king of blogging platforms…doubles as startup website Tumblr – another blogging platform Posterous – yet another blogging platform Wireframing Tools jMockups - convert existing website into a mockup then redesign and share without editing any HTML/CSS Balsamiq – rapid wireframing tool. Create software mockups in minutes Mockflow – online/offline, extensible wireframing tool w/design library OmniGraffle – it’s been around before the web even existed JustinMind – define web and mobile apps with interactive prototypes Wirify – turn any webpage into a wireframe LucidChart – Cloud-based drawing tool Cacoo – free online drawing tool Axure – Wireframing, prototypes: buil-in widgets and shapes HotGloo – Online Wireframing Tool Mocksup – Share your web site mockups Mockingbird - Mock it up and share web site wireframes Protoshare – website wireframing Gliffy – Online Diagraming Free Wireframe templates for iPhone, iPad and Web Wireframing Tutorial Website Tools Zozolo – start a website within Facebook Weebly – get a site up quickly with no tools ThemeForest – site templates cheap Scraster - Record your screen, and webcam. Simple editing. Perfect for screencasts or user studies Microsoft WebMatrix - Web server, database, and ASP.NET and PHP AppMakr – Mobile Ap Creator create quick mobile apps EditMe – create collaborative websites NewRelic – manage and tune website performance for Rails GooglePageSpeed - optimize your web pages 99 Designs - marketplace for crowdsourced graphic design IconFinder – great way to find free graphic icons on the web Launchbit – online web site class for novices Website A/B and Landing Page Testing A/B Testing Tutorial - read first Landing Page Tutorial 100 Tools and Tips for Landing Pages Unbounce - create, publish & test promotion specific landing pages Fivesecondtest – Landing page optimization VisualWebSiteOptimizer - A/B testing (split tests) Optimizely - A/B testing (split tests) Adobe BrowserLab - cross browser testing for Creative Suite Google Website Optimizer – google optimizer for A/B testing (split tests) Tips on How to Use Google Website Optimizer Silverback – usability testing for designers and developers FeedbackArmy – web usability testing Mobile Testing/Build Tools TestFlight – IOS beta testing on the fly. Corona – mobile development platform Twilio – add mobile and sms to your app PerfectoMobile – mobile app testing MobiReady - testing tool evaluates website mobile-readiness GoMez – test your website for “mobile ready&# Rigor - test/monitor performance of mobile apps/websites W3C Mobile OK – test your website for mobile Google Page Speed – test your mobile speed Billing/Subscription Management Chargify – Recurring billing without the headaches Recurly – Subscription billing Aria – online billing platform Braintree – online credit card merchant processing Vindicia – on demand billing and fraud management Volusion – shopping cart software CheddarGetter – online recurring billing Cloudware City - online app store for subscription services Spreedly – sell subscriptions on your site. signup, upgrade, trial pricing Zuora – online subscription management FeeFighters – find the cheapest credit card processors HealPay – Collections made easy Customer Support Tender – support, knowledgebase tool for your site GetSatisfaction - conversations between companies / customers. SnapEngage – live chat integrates with your apps Zendesk – web help software UserVoice – turn customer feedback into action Kampyle – turn customer feedback into sales and relationships Ideaffect – customer feedback, vote, comment, manage Olark – live customer chat Assistly - Support customers by Web, email, chat, and social networks Website Usability Testing Usertesting – $39 live users testing your site – cheap Userfy – live user testing of your site WhatUsersDo – UK live usability testing Clicktale – watch live clicks and browsing, optimize usability Usabilla – Micro usability tests OptimalWorkshop – tool suite for remote user research Clickheat – heat map of a website (where do users click) Clixpy – tracks users clicks and browsing Openhallway – lets you remotely record user test scenarios Google Page Speed – test your web page speed Cloud Services and Tools Amazon Web Services – Amazon’s cloud solution Amazon CloudWatch – Monitoring for Amazon EC2 and RDS DB Google App Engine – Googles version of a cloud solution AppDynamics – Cloud Performance Mgmt Epicnms – flexible data collection and plots Scalr – Tool to manage scaling servers in Amazon’s cloud. Rackspace – Managed and cloud hosting Engine Yard – Ruby Cloud Hosting platform Linode – Linux virtual servers in the cloud Netflix experience in moving from datacenter to cloud Web Development Tools Rubyon Rails – open source framework for Ruby CakePHP – a PHP open source framework PHP Tutorial and PHP Manual and Freaks Drupal – open source content management platform Heroku – Ruby cloud platform. Rails deployment made easy AppHarbor – Heroku for.net jQuery - cross-browser JavaScript library jQuery UI - official jQuery user interface library. interactions, widgets, effects Django – high-level Python framework Cappuccino – open source framework for app development Kodingen – cloud development environment, code editor, hosting service, collaboration platform. JSFiddle – preselect/add JavaScript frameworks and test your code TeamCity – continuous integration and unit testing, code quality analysis, pre-tested commits, reporting on build problems Sauce Labs – cross-browser testing in the cloud Rdbhost.com – SQL database hosting from browser.Python/Javascript APIs yUML – sketch uml diagrams. WebSequenceDiagrams - sketch sequence diagrams. automatic links to generated images Rietveld - asynchronous code reviews on changesets Tech*if*er0*urs – blog on roadmap for learning rails Best free programming books Project Management Basecamp - web-based project management and collaboration tool. Github - Free public repositories, collaborator management, issue tracking, wikis, downloads, code review, graphs Pivotal Tracker – Agile project management tool that enables real time collaboration. Mercurial – free, distributed source code control management system Clarizen – cloud project mgmt tool Kiln – Version control and code review Fogbugz -bug tracking, project mgmt, customer support Bitbucket - free code hosting site for Mercurial Preceden – simple way to make timelines for presentations Milestone Planner - planner for deadline or outcome driven environments. AgileZen – project management visually see and interact with your work Kanbanery – Simple online team or personal kanban board LeanKit Kanban – Great for visualizing work of product development Kanban Pad – “Nice and lean” and free online Kanban tool Banana Scrum – A tool simple as Scrum itself. Kanban Tool – Another Kanban tool Acunote – Agile project management Agilezen – Lean project management Rally – agile product management VersionOne – agile product management and Scrum tool ScrumPad – Agile project management tool collaborative product life-cycle RallyDev – Automates Agile / Scrum development 5pm – Online project management tool GoPlan – collaborative project management Unfuddle - hosted project management solution for software teams. Lighthouse – Issue Tracking Tool. Bontq – hosted bug tracking and project management needs. Managewith.us - Collaborative Task Manager Mavenlink - manage project communications, documents, schedules, budgets, payments Industrial Logic – Agile eLearning Misc Office Help Google Apps – cloud mail server, calendar, docs, etc. Grasshopper – virtual phone system Ringio – cloud phone system RingCentral – cloud based phone system InDinero – easy business finance software Expensify – billing, expenses, receipts Resumator – applicant tracking and social recruiting RecruiterBox – recruitment software, applicant tracking ActiveInterview – Video interviewing BambooHR - Employee Records, Benefit Information, Payroll Data, etc. Xobni – Outlook plugin to search Chip Hardware Resources/Tools Lady Ada - embedded applications and kits Adafruit - embedded applications and kits Arduino - open source hardware platform Microsemi (Actel) smartfusion : A low power development board full of peripherals and an FPGA chip Digikey and Sparkfun for general components: Sunstone - Printed Circuit Boards TI , Cypress , and Analog devices for microcontrollers and IC’s Custom Machine Parts/Industrial Supplies eMachineShop – machine custom parts online onlinemachinist – more custom parts online i.materialize - 3D parts printing service 3-D Prototype Design – 3D professional parts printing McMaster-Carr - 480,000 parts of hardware heaven RepRap – open source 3D Printing MakerGear – homebrew 3D Printing W.W. Grainger - Industrial supplies Fastenal - more industrial supplies Octopart – search engine for electronic parts Freelance Help Amazon Mechanical Turk – set up any task and get answers Elance – find/hire freelancers Odesk – hire low-cost international engineering talent Freelancer – outsourcing for small business VWorker - find/hire freelancers Manufacturing Resources Alibaba.com GlobalSources.com Sourcing in China Sourcing Blog Smart China Sourcing _ Useful blogs and links for startups List of Angel/SuperAngel Investors for entrepreneurs Venture Hacks Angel List – raise money with angel investors Guide to Super Angels - Chubby Brain Incubator List/ Startup Jobs List of Startup Incubators A Quora list of Incubators Jobs in Startups Lunch with Entrepreneurs Techcofounder – find a technical cofounder Founder Dating – find a cofounder Advice on Raising Venture Capital Startup Valuation Advice - Mark Suster May 2011 Pitching a VC - Mark Suster Advice VC Experts Seed Stage Valuation Guide - Jordan Cooper Termsheet Advice Scott Walker Advice on Termsheet Provisions Types of Angel Financing Angel Financing Tips and here Awesome Valuation/Equity Calculator Boilerplate Venture Funding Documents YCombinator Series AA Equity Financing Documents National Venture Capital Association - model legal documents Series Seed Documents - Fenwick & West Seed Investment Standard Forms, used by most angels TechStars Model Seed Funding Documents - Cooley Godward WSGR Term Sheet Generator Orrick, Herrington Term Sheet Generator Founders Institute Plain Preferred Term Sheet - WSGR Legal Wiki - Florian Feder crowdsourced documents Best Startup Advice Best of Y- Combinator Startup Advice Uber list of Startup Resources – Legal, Equity, etc. – Bottom Line Law Group Founder Equity Issues Fred Wilson Advice and spreadsheet Intro to Stock and Options – David Weekly Venture Hacks equity section Joel Spolsky Advice on fairness Awesome Valuation/Equity Calculator Splitting the Founders Pie Executive / Advisory Board Compensation Comp Study – Executive Compensation Website – unbelievably useful Expert CEO Compensation page – also incredibly useful SaaS Sales Team Compensation – Philippe Botteri, Bessemer Venture Partners VentureHacks on Startup Advisory Boards – great basics Finance 101 for Entrepreneurs MBA Mondays – Fred Wilson’s Tutorials How to Read a Financial Report , and here – Merrill Lynch Product Pricing 101 for Entrepreneurs Product Pricing Wiki Page – great links to pricing models How to design Web Pricing Pages - from Smashing Magazine Lawyers/Legal Walker Law: Tips for Entrepreneurs Top Ten Legal Mistakes for Entrepreneurs Startup Law 101 – George Grellas Intellectual Property Law For Startups Blog Yoichiro “Yokum” Taku – Startup Company Lawyer Startup Law Blog – Davis Wright Tremaine, Joe Wallin Orrick – Startup Legal Tool Kit Goodwin, Proctor – Founders Workbench Law & Disorder : ARS Technica Legal Blog Likelihood of Confusion -trademark, copyright and Internet Law Technology & Marketing Law Blog American Bar Association Best Legal Blogs Music Law – one of the best legal blogs period. This video should be the gold standard in explaining contract terms. Must Read Blogs Best Blogs Every Entrepreneur should read Top VC Blog List Fred Wilson – A VC Marc Andreessen Paul Graham Hacker News Brad Feld Chris Dixon OnStartups-Dharmesh Shah Both Sides of the Table – Mark Suster 37signals Eric Ries – Startup Lessons Learned Venture Hacks and [link] Andrew Chen Dave McClure Venture Made Transparent More to read Brad Feld and Jason Mendelson – Ask the VC [link] Dharmesh Shah – On startups [link] Josh Kopelman – Redeye VC [link] David Hornik – VentureBlog [link] Should be posting more often Bill Burnham – Burnham’s Beat [link] David Cowan – Who Has Time For This? [link] Steve Barsh – Barsh Bits [link] Entrepreneurship Reading List Books for Startups my favorite business books. Blog/reading list from Tom Eisenmann’s class at Harvard Misc Some of the material I have created or use in my classes does not lend itself to blogs. It’s more reference material. Thus, these pages. I’ll add more as time goes on. Course syllabi UC Berkeley, Haas Business School Customer Development: Spring 2011 MBA 295F syllabus Stanford University Engr 245 – The Lean Launchpad Class slides Tenacity If you’ve gotten this far, here is a visual representation of tenacity and persistence Share this: Print Email Share Digg 77 Responses Cheap Web Design , on February 16, 2009 at 6:49 am said: Very interesting stuff. I am both an avid entrepreneur and book worm but must admit to having not read most of the books on your list. It is certaintly a great list to motivate me to get reading again. Keep up the great work! Reply Crystal Williams , on April 12, 2009 at 10:38 am said: Hi Steve! My name is Crystal Williams, and I maintain a small business blog called Babeofbusiness.com. I recently did a piece on the best books for startups, where I included your book “Four Steps to the Epiphany.&# If you have a few moments and are interested, I would love to have you post your recommended books in the comments section. … Thanks! … Reply Avron Olshewsky , on June 10, 2009 at 11:03 am said: Hi Steve, Read your book “The four steps …&# and have enjoyed it and your blog. I have recently been doing some research on Entrepreneurship in Brazil, while also trying to start my own company. I wanted to ask you what you thought about “context&# ? I.e a lot is written in general terms, mostly US centric. What about emerging economies, what caveats do they posses ? Also do you agree with the notion of Entrepreneurship as “opportunity recognition&# ? Regards Avron Reply Greg Geracie , on September 16, 2009 at 5:40 pm said: Hi Steve, I enjoyed your book and I found it helped me connect a lot of dots which now make more sense! Most of the examples you cite in the book are targeted on highlighting challenges faced by each of the respective companies. I was wondering if you have a couple of examples of companies that have utilized your methodology and enjoyed great market success crossing the chasm and becoming successful mission-centric companies from start ups? Any examples would be greatly appreciated! Thank you. Greg G. Reply steveblank , on September 16, 2009 at 7:00 pm said: Greg, The Google Group “Lean Startup Circle&# at [link] is a wonderful repository of Customer Development/Lean Startup success and failure. In addition they have started a “Lean Startup Wiki&# with the beginnings of a Case Study section here: [link] If you email the group you’ll get plenty of responses. steve Reply Luke Lockhart , on November 13, 2009 at 2:01 pm said: Hello Steve, I am currently reading The Four Steps to the Epiphany. The granular, tactical process that is laid out is amazing. I’ve experienced working for companies that did it the wrong way and one that went through the “death spiral&# just as you describe. This thoroughly instilled in me that some sort of process more akin to yours must be the way to go. But until reading his book and blog I hadn’t known the exact steps to take and in which order. Are there digital copies of some of the worksheets and checklists in the appendix of your book available in digital format? These would be extremely useful in getting buy-in and working collaboratively through the process across our founding team. Thanks and Regards, Luke L. - Waterloo, Ontario Reply Damien Rottemberg , on November 19, 2009 at 6:31 am said: Hi Steve, I wish I had discovered your book earlier. It became my bible (after the real one to develop my company LocalBooking. I think this is perfect for it. I wish I could have you as a consultant to help my company to take off. I am still trying to figure out the right market and customers for it. Reply Mike Byrnes , on April 28, 2010 at 9:17 am said: Steve: I just found your site and blog from a link off Venture Hacks “Two great talks from SLLConf&# I fell like I’ve just found the mother lode! Thanks a million. Now I’ve really got my work cut out, but you just gave me a big “leg up&#. – Mike [link] Reply Jeff Skinner , on May 24, 2010 at 9:28 am said: Steve, you don’t know me though I use your ‘Customer Development process’ video in my classes (Entrepreneurship at London Business School). I hewar via thew grapevine that you’re thinking about a ‘Business Model Competition’ Interesting. Can we touch base on this. Jeff skinner Faculty, London Business School. Reply phil gainley , on August 7, 2010 at 12:36 am said: Hey Steve Reading great struff around your Customer Development process, would love to see you speak around this Are you doing anything in the UK in the near future that I can turn up for? Thanks Phil Gainley Reply Margit Niemelä , on August 16, 2010 at 6:29 am said: Steve, wonderful job! Thank you Margit Niemelä PhD, Principal Lecturer, Entrepreneur Vaasa University of Applied Sciences Reply Akash Pai , on September 26, 2010 at 10:46 am said: Steve, This is an incredibly useful list and the book – 4 steps to Epiphany is a must-read for any startup. Pearls of wisdom, wish I’d read it earlier. And I’m of an opinion that its the right way to productize for a large corporate as well. After all, most of them seem to have only one or two hits (or high profit margin products). Are your lectures (in b-schools) open to public? Reply Conrado, geek @ fengoffice , on October 4, 2010 at 10:05 am said: @Steve, I frequently feel like thanking you on every one of your posts, at the Amazon reviews, etc. Doing so would extend your posts’ comments sections while adding little value. But I definitely have to do it somewhere, at least once. Using this page – just the one that I happen to be using at this very moment – feels ok. You’ve been top of my entrepreneurship mentors/heroes for over a year now. @Entrepreneurs not fans of Steve, read his books. Read his blog. Reply Bill Seitz , on October 7, 2010 at 9:58 am said: Do you have the worksheets from your book available online anywhere? Reply Paul Campbell , on October 14, 2010 at 9:56 pm said: Hi Steve, It was a pleasure to meet you at the Churchill Club event tonight. I met you immediately after the panel ended. I am an expert on Corporate Entrepreneurship and lecture in Drew Isaacs’ courses and CEE programs. I recommend that corporate entrepreneurs read “Grow from Within: Mastering Corporate Entrepreneurship and Innovation’, Lippitz and Wolcott, 2010. Let’s plan to connect at Berkeley sometime soon. Best regards, Paul Campbell e: startupgenie@gmail.com Reply ?????????????????? & ??????????. Resources? , on October 25, 2010 at 11:08 pm said: [.] ?????? ?????????? ?? ?????? bookmark ??? ?? ?????? ??? ¨Startup Resources¨ ??? ????????????? [.] Reply Phil Gainley , on November 8, 2010 at 4:44 am said: Steve Great list of books. When you come over to the UK would love to see you speak Thanks Phil Reply Tara Gowland , on November 24, 2010 at 1:43 pm said: Great resources! Reply Jason , on December 20, 2010 at 2:05 pm said: Awesome resources! Thanks. Jason Reply jorge , on February 27, 2011 at 9:38 am said: wow. that is tenacity! Reply Bill Bonham , on February 27, 2011 at 10:13 am said: [link] is missing in the Website tools category Reply Andy , on February 27, 2011 at 10:33 am said: Great post, I’d recommend adding [link] to the Project Management section Andy Reply Justin Chen , on February 27, 2011 at 11:10 am said: What about [link] for cheap and easy a/b tests and surveys? Reply jade , on February 27, 2011 at 2:25 pm said: Great compilation. There is nothing on sales. Can you add useful resource for generating sales for start-ups. Reply John Fan , on February 27, 2011 at 6:10 pm said: Dim dim was acquired by Salesforce and has been shut down. Reply steveblank , on February 27, 2011 at 6:22 pm said: thanks. removed from the list. Reply Daniel Odio , on February 27, 2011 at 9:00 pm said: Steve, what a killer list. One thought — it’s not just the tools, but the culture in the company to implement the tools. We call it “playing a computer like an instrument&# at AppMakr. [link] DROdio CEO, AppMakr.com Reply Girish Redekar , on February 27, 2011 at 10:58 pm said: Shameless plug: Folks can also try Recruiterbox (similar to Resumator) to manage their hiring / applicant tracking Reply Recruiterbox , on February 28, 2011 at 8:33 pm said: Thanks for adding recruiterbox ! Reply Jarek , on February 27, 2011 at 11:51 pm said: What about CRM? You don’t think startups should use CRM tools? I know that in B2B world you are dead in the water without CRM tool… We are using our own stuff – [link] Reply Josh , on February 28, 2011 at 12:12 am said: Thank you for all the great links, how can i get an invite to quora? Reply Roman Gaponov , on February 28, 2011 at 1:50 am said: Steve, Very interesting list of resources. Thanks! What about Django [link] as Web Development Framework? Reply steveblank , on February 28, 2011 at 2:01 am said: added Django. thx Reply Dan Croak , on February 28, 2011 at 6:39 am said: Here’s a few that are central to my work. Billing/Subscription Management: Braintree [link] – Payment gateway, merchant account, and recurring billing all in one. Known for their great customer service. Web Development Tools: Sendgrid [link] – Sends transactional email (signed up, forgot password, notifications) on behalf of you application. High deliverability rates. Hoptoad [link] – Collects production application errors, groups them so developers can see one backtrace and how many times the error occurred. Blogs (VC): Antonio Rodriguez [link] – A very technical VC at Matrix partners who can actually code. Blogs (web development): Giant Robots Smashing Into Other Giant Robots – [link] Company blog of thoughtbot covering Ruby on Rails, HTML, CSS, Javascript, databases, and mobile development. Reply Allison , on February 28, 2011 at 10:40 am said: Thanks for including Grasshopper in your list Steve! Reply Jeff Epstein , on February 28, 2011 at 11:03 am said: Steve, Looking forward to hearing you speak in Ann Arbor next month! Would love to have you include my referral platform [link] to the marketing category. Thanks. Reply Jeff Epstein , on March 1, 2011 at 7:53 am said: Thanks Steve! Reply Jeremy @ Wordloop , on February 28, 2011 at 11:13 am said: I would also recommend Ash Maurya’s Lean Canvas: [link] a tool for documenting your business model and managing tests, as well as his book Running Lean [link] Reply Roger Neel , on February 28, 2011 at 11:30 am said: Steve, Big fan & great list – we use a lot of these tools for our lean startup. I’d like to throw my hat in the ring for you to add [link] under the Project Management category and/or the Freelance category. We have an end-to-end suite that helps consultants and clients work better together. We’re lean and 40k people (and growing!) agree that we’ve got the best PM/time tracking/invoicing app out there. Roger Reply Paul Hontz , on February 28, 2011 at 11:59 am said: Thanks for the shout out to TSF. To put together a fantastic list! Reply Steve Kohlenberger , on February 28, 2011 at 3:25 pm said: Steve, Love your book! Super list. Microsoft’s WebMatrix ( [link] ) tries to seamlessly combine many public web development tools (like dotNetNuke, BlogEngine, WordPress, Drupal, Joomla, Umbraco, …) in one place on Windows for deployment on your choice of providers for $2.99/mo and up. (I don’t work for Microsoft nor an ISP). For Freelance Help, consider adding: Freelancer.com Logo Design: [link] Reply Creating mockups/screenshots | MobInsights.com , on March 2, 2011 at 5:47 am said: [.] Blank maintains a list of mockup tools you may use, few are specialized for mobile apps though. In my mind, any good drawing tools or even [.] Reply Chuck Robinson , on March 6, 2011 at 8:50 am said: Wow, Steve! Wow, wow, wow! Thanks for this incredible resource! Chuck Reply Benoit Fallenius , on March 8, 2011 at 11:45 am said: “Name, Domain name and Trademark&# is a complex topic that, right or wrong, take a lot of time for entrepreneurs in the beginning. It should be added to this great list. A new tool that will help the entrepreneur in the trademark issue is Markify – a trademark search that finds all similar trademarks. It covers both Europe ant the US, it is easy, fast and free. This kind of search normally costs more than $500… Test your name [link] so you don’t end up with a name that is confusingly similar to an existing trademark. Reply Tatiana Maya , on March 10, 2011 at 9:10 pm said: Hi Steve, Are you aware of [link] ??? have a look, maybe as a collaborative resource on your list. Thanks for your work. I have lots to go through! Reply Quora , on March 12, 2011 at 12:54 am said: What are the free software tools and online services one should leverage for an internet start-up just getting started from an idea?… I think Steven Gary Blank, the guy behind “The Four Steps To The Epiphany,&# has this nice list which I reference periodically. [link]. Reply Ian Ippolito , on March 24, 2011 at 8:45 am said: Steve, Thanks for an incredible resource for entrepreneurs, which I’m going to be forwarding them to. May I humbly also suggest under the “freelance&# category, my own site: vWorker.com? It has better protections than Elance (100% free money back guarantees) and the same timecard monitoring as oDesk but is cheaper by 10-35%: https://www.vworker.com/RentACoder/DotNet/misc/CompetitorInformation/WhyRentACoder_ForBuyers.aspx Ian Ippolito Reply Vadim Nekhai , on March 29, 2011 at 4:23 am said: Hi Steve! Great job done! I enjoyed reading your post. Are you aware of [link] Please take a look, it might be one more option to Sendgrid and Postmark in your list. Thanks. Reply Abbas , on April 7, 2011 at 10:22 pm said: Great compendium Steve! Thank you. One tool that I have found useful for UML diagram is [link]. Very easy to use and share. I am not associated with the company. Thanks. Reply Dave Jafari , on April 10, 2011 at 10:11 am said: Great list Steve. I’d like to add [link] as a community for founders. Reply Faren , on April 11, 2011 at 1:40 am said: Hi Steve, Thanks for adding my ipod, ipad and web wireframe template post to your list. Glad you and everyone else found it useful. Your list is a great reference by the way. Keep up the good work! Reply Ronaldo Bahia , on April 12, 2011 at 6:26 am said: Awesome summary of pretty important stuff. There is no reason to discard ideas anymore Reply Jason Miller , on April 13, 2011 at 4:09 pm said: Hi Steve, Fantastic list of resources. We would be truly flattered if you could add Zoomerang Online Surveys & Polls to your list of survey tools. (Free basic version, surveys & polls, 150+ templates to customize and send in minutes) Thank you! All the best, Jason Miller [link] Reply Some Of My Favorite Online Resources , on April 18, 2011 at 11:06 pm said: [.] Steve Blank is quickly becoming one of my very favorite writers/speakers on entrepreneurship. Everything he writes seems like it is a “must read&#. His blog has a list of all kinds of wonderful tools for start-ups and such. His Twitter account is a must follow @SgBlank too. Check out the list of tools though HERE. [.] Reply Erick , on April 22, 2011 at 7:53 pm said: bookmarked this page months ago, and have referenced it at least a dozen times. great resource. Reply Alyson Button Stone , on April 25, 2011 at 2:41 pm said: This is a great resource which I have shared with our users, many of whom are progressive startups with a frugal mindset. I would love to see Assistly included on this list under the category of Customer Support. We are a featured Google App Marketplace company, and believe passionately in putting the customer at the center of the business. Thanks again for a great resource. This is one of those posts where you say to yourself: Why didn’t I think of doing this? Best, Alyson Stone, Assistly Team Reply Quora , on April 26, 2011 at 6:46 am said: What are the best online resources (blogs, articles, etc.) on startups and entrepreneurship?… Steve Blank’s blog has been mentioned twice but I think it’s worthwhile to highlight this specific post where he has a very robust list of services (best analytics tools, best survey tools, boiler plate venture docs, usability testing services, etc) … Reply Robert, twago , on April 27, 2011 at 7:24 am said: Great ressource. Many of the tools I’ve never heard of, but I’ll check a few. My ultimate tool I can’t live without: dropbox – it’s the best. For freelancers and people looking for freelancers I would like to recommend twago (disclaimer: I work there): [link] Robert Reply Stanford professor gives you the keys to building a start-up right here « From corporate to chameleon , on May 10, 2011 at 8:10 am said: [.] you need to create a business model hypotheses and to test it. Combined with the start-up resources links on Steve’s site you are on your way to getting your venture off the [.] Reply Terri , on May 12, 2011 at 12:54 pm said: I’d also recommend smartQ for visual task management: [link] Reply Olga Sorokina , on May 19, 2011 at 1:26 am said: Thanks for a great list! Do you know TeamLab? [link] It is a web based project management and collaboration system. As distinct from similar solutions, TeamLab offers all the features for free with no limits – a very solid argument for most of start-ups and enterpreneurs. Reply You don’t need a business plan yet: 7 ideas for Customer Development « Information Maven: Greg Meyer , on May 22, 2011 at 7:37 am said: [.] further along in the information you’ll need to build your business plan. Steve Blank lists some great tools for startups that will help you in this [.] Reply Iphone App Creators , on June 1, 2011 at 1:26 am said: That’s a really good list. Very helpful and worth taking time to go through most of them. Thanks for a Great Post. Reply Mary B. , on June 5, 2011 at 1:15 am said: Stumbled on your page by serendipity. I sold to you & PR function back in the day (SuperMac) and others to the many companies dating back, but finally E.piphany ~ MediaMap (now is Cision). Amazing list. The best part though is the tenacity link. Nothing really compares with that, does it? All the best! Reply steveblank , on June 5, 2011 at 1:21 am said: Mary Bagatelos? Reply Mary B. , on June 5, 2011 at 7:00 am said: You. Are. Something. How on earth did you remember? You’ve got everyone who ever breathed in that database. Yep, C’est moi. Reply Martin Henk , on June 8, 2011 at 6:13 am said: Impressive list, but missing a key ingredient: Sales management tools. I think actually actively selling your stuff is very important for a startup these days. No-brainer for B2B companies but also for B2C companies (making special advertising deals for example) Reply steveblank , on June 8, 2011 at 9:05 am said: Martin, Any suggestions? steve Reply Katarzyna Krolak-Wyszynska , on June 21, 2011 at 4:21 am said: I agree that help with sales is key for startups. I have found the step by step guideline of Kellogg Prof. Mohan Sawhney very helpful in clarifying the value proposition & positioning and crafting the messaging. It is a process supported by a set of videos, tools and templates. Reply techstartupceo , on June 21, 2011 at 10:45 am said: Hi Steve, Really enjoy your book and blog – thanks for your insights. I have a question though, how do you suggest moving through the customer development process when you are developing a product that you want to keep under wraps until its release (and thus maintain your market advantage)? My R&D company has a product in the works that we plan to sell to an existing customer base – but I’m challenged by how we engage these customers in the early design phases without letting the cat of the bag! Thanks in advance for your insights – Reply Spanglish Bee , on June 22, 2011 at 10:08 am said: Great list some “must have tools&# for any strartup. I also highly recommend podio.com for project management its fantastic for collaborating on ideas, bug tracking, feature requests and much more, I’ve tried a lot but it’s my favorite, very flexible and easy to customize. Good luck with your startups! Reply ebzovi , on June 22, 2011 at 1:39 pm said: Hi Steve, We’d like to contribute to your list by adding our free invoicing application -www.healpay.com Reply Projektverktyg – hantera projekt online | Ted Forssblad , on June 24, 2011 at 3:44 am said: [.] sprang på en bra lista med projektledningsverktyg (och en hel del andra användbara länkar) som jag tänkte dela med mig [.] Reply “Tell Me About It&# « , on June 28, 2011 at 8:27 am said: [.] Our team is following Steve Blank’s Customer Development methodology, which is rooted on startups “getting out of the building,” talking to customers and using that feedback to develop and refine their product. (For those who would like to learn more, Steve Blank has a helpful podcast called “Customer Development for Startups” and a blog.) [.] Reply rob , on July 7, 2011 at 8:24 am said: Is this list monthly updated ? some stuff seems old Reply steveblank , on July 7, 2011 at 12:22 pm said: Rob, This list is one I started for my students trying to figure out what tools to use. I’m always happy to get updates. Let me know what “stuff&# is old, and I’ll update it. steve Reply steveblank , on July 7, 2011 at 12:22 pm said: Rob, This list is one I started for my students trying to figure out what tools to use. I’m always happy to get updates. Let me know what “stuff&# is old, and I’ll update it. steve Reply Leave a Reply Cancel reply Order Here. For International Orders Now In Print! Steve Blanks 30 years of Silicon Valley startup advice. Follow me on twitter @sgblank Follow my speaking schedule on Plancast @sgblank Get the Podcasts for Free The Four Steps to the Epiphany now available in Japanese. The Four Steps to the Epiphany now available in French. Customer Development Customer Development Methodology – slides Eric Ries on Customer Development Four Steps to the Epiphany – the book Stanford Entrepreneurial Leadership Talks by Steve Blank The Lean Startup by Eric Ries & Steve Blank – slides Secret History of Silicon Valley The Secret History of Silicon Valley – Dec 2009 slides The Secret History of Silicon Valley – video Blog at WordPress.com Theme: Digg 3 Column by WP Designer. startupcto

How do the sample Series Seed financing documents differ from typical Series A financing documents?

Startup Company Lawyer

After the recent announcement of the Series Seed Financing documents by Marc Andreesen, Brad Feld points out that there are now four sets of “open source&# equity seed financing documents: TechStars Model Seed Funding Documents (by Cooley). Y Combinator Series AA Equity Financing Documents (by WSGR). Series Seed Financing Documents (by Fenwick & West). This post assumes that you have a basic understanding of Series A financing terms.

ProfessorVC: How much is enough?

Professor VC

Financing, that is.I One truth of start-up financing is that it generally takes twice as long and twice as much money to accomplish your milestones. Most companies dont come close to their rose colored financial models prepared when going out for Series A financing. ProfessorVC.

Why Co-Founders Are a Startup's Biggest Liability | The Startup Lawyer

thestartuplawyer.com

About the Author Ryan Roberts is a startup lawyer and represents technology companies through all phases of the startup process, including incorporation, seed & venture financings, and exit transactions. Contact The Startup Lawyer: Home Page About Contact FAQs Glossary Ryan Roberts Law: Home Page Social Networks: Facebook Twitter LinkedIn Flickr Delicious Digg Last.FM

ProfessorVC: Baby's All Grown Up

Professor VC

Not to worry, I was busy working on closing the Series B financing for iControl Networks. I started working with the founders of iControl at the concept stage, prior to the first $100K of angel financing. The CEO and I ended up funding the company ourselves until we were able to scrape together a larger angel round. Labels: CFO , home security , M and A , venture capital , venture financing. Negotiating an Angel Deal in your PJ's. Touched by an Angel.