Posts Tagged ‘Startups’
How to Reduce Startup Risk Using Existing Technology
It may not be as sexy, but starting a new business which builds on an existing technology or business model is usually less risky than introducing that ultimate new disruptive technology. There are many levels of innovation that go beyond copying someone else’s idea, but stop short of pushing the leading edge (bleeding edge). Many…
Read MoreDo Millennials Make the Best Entrepreneurs?
In the last 20 years there has been an 89% increase in student borrowers—almost no one used to borrow money to go to school and now it’s commonplace. The average student loan balance has ballooned by 77% in the same time period, while the cost of college tuition and books has outpaced inflation. This is…
Read MoreThe Pros and Cons of Starting a Business with Friends
I first met Jonathan Wasserstrum, one of my best friends and now a co-founder of TheSquareFoot and our company’s CEO, nearly two decades ago. We became friends almost immediately after meeting in high school, and we’ve been buddies ever since. A few years later, when I went to college at UT, I met Justin Lee,…
Read MoreI Have a Business Plan: Now What?
Whether you’re a brand new startup, or have been trading for a while now, it’s important to have a business plan. Many businesses seem to put this off, or completely avoid writing one altogether. However, the phrase “Fail to plan, plan to fail” really does apply here. A business plan gives your business direction, ensures…
Read MoreIs Crowdfunding Still a Good Way to Gain Investment?
The rise of crowdfunding was an abrupt and noisy one. The major platforms that allow people to invest small amounts in speculative projects, the likes of Kickstarter and Indiegogo, seemed to pop up overnight, with huge success stories touting it as the future of funding. But with the dust settling and Kickstarter reporting this week…
Read MoreStartup Off the Ground? 5 Things You’ll Need as Your Business Grows
Too often startups launch with a powerful idea or innovative product but have a limited growth plan or clear exit strategy. The following includes five things you’ll need to keep in mind as your business grows. Third-Party Contracts and Litigation Planning Eventually, you may choose to keep marketing, or IT or other departments in-house, but…
Read MoreAngel Investment vs. Bootstrap: Startup Sweet Spot
Successful angel investment is a win-win for both sides, the startup founders and the investors. And I mean win-win right at the beginning, at the time of the investment, not the obvious win-win later when years have gone by and the business succeeds and investors exit. The win-win sweet spot exists from the beginning, when…
Read MoreImportant Pitch Lesson: The Best Business Plans Change
My favorite moment in a recent business plan contest: The entrepreneurs put up a projected income slide. One of the judges commented that what was on the slide was different from what he saw in the business plan. The entrepreneur immediately answered, “No, of course not, that was an earlier iteration.” Business Plans Change. They…
Read MoreWhy Startup Incubator-Hopping Can Help Launch Your Business
Venture capitalists Sam Altman and Jason Calacanis both wrote posts recently on the topic of startup incubator hopping. Altman says that participating in more than one startup incubator may actually decrease your chances of getting into Y Combinator, a goal many startups are vying for, whereas Calacanis says the question isn’t about Y Combinator—it’s about whether or not you should…
Read MoreHow Winning Startups Tackle Tough Growth Constraints
There is nothing wrong with growing your business by selling more of your solution to more people in more cities, states, and countries. That’s called organic growth, and everybody does it. But in my experience as a startup advisor, too many entrepreneurs get stuck there, and always find excuses for not really exploring mergers, acquisitions, partnerships,…
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