Eight Bootstrapping Tactics
When someone asks me for the best way to fund a startup, I always say bootstrap it, meaning fund it yourself and grow organically. Bootstrapping avoids all the cost, pain,…
Simple Principles for Turning Your Ideas Into a Business
Successful startups are all about turning ideas into action. These actions must be the hard part, since entrepreneurs always seem to come to me with ideas, and ask me for…
Most Startups Don’t Need to Incorporate in Delaware
It used to be true that “everyone” was incorporated in Delaware due to its business-friendly laws, but many of these terms simply don’t apply to startups, or the differences don’t…
The Seven Traits of a Role Model
At its core, all businesses are just people carrying out an idea. It’s never the other way around – there is no idea so big that it doesn’t need people…
The Elements of a Simple Angel Investment Term Sheet
Remember a term sheet agreement is not a deal until the check clears. Entrepreneurs sometimes assume an initial agreement with an angel is a commitment, so they start spending before…
Ten Major Sources of Startup Risk
You have probably heard plenty of times that being an entrepreneur is risky business, and investors talk all the time about reducing the risk. Yet everyone seems to have their…
The Secret to Great Communication
Great communicators get right to the point. In today’s busy world, if you want to be noticed and remembered, you need to communicate quickly and clearly. This is a simple…
The Trends that Gave Rise to the ‘Super Angels’
It is no secret that the world of venture capital (VCs) has been turned upside down by the recession, and the many other changes in the marketplace. I see now…
The Five Dimensions of Competitive Analysis for Startups
One of the key sections of any business plan is the analysis of the competition. I especially love the ones that start and end by saying “We don’t have any…
The Nine Learnable Principles of Leadership
Creating and building a business is not a one-man show. It requires a team effort. Building trust and confidence among key players, enhances communication. A functional team will ultimately attract…