Real Founder Lessons
The best startup advice from experienced founders...one real-world lesson at a time.
Raising money is never easy, so find true believers
(at minute 41:36)
Founder Lesson
When I first started raising money for startups, a very experienced attorney told me that every round would take six months. What I came to find out is that the reality is more like six to nine months. To new founders this might sound surprisingly long, but this has been the case for me every time.
One piece of . . .
What angel investors want to see
(at minute 41:46)
Founder Lesson
As a group of investors, angel investors fall into a tricky middle ground that founders should understand and appreciate. Angels are typically individuals who are able to invest $10,000 to $100,000 personally. Most angels that I encounter act like friends & family investors - they focus on the people and idea. Like your . . .
Financing strategy depends on the potential of the business
(at minute 5:39)
Common Founder Issue
I often hear founders discuss whether or not a certain business is “VC fundable” or “should we raise $250k or $1M?” What I’ve learned is that businesses and management teams are going to do what they do and financing strategy follows the operational results that happen as they execute their plans.
In other . . .
Focus all of your resources on the one key risk in your business
(at minute 41:10)
Common Founder Issue
I've spent the better part of 20 years working on startups and thinking about what makes founders successful. The single most important lesson that I’ve learned is that focus is the biggest competitive advantage that startups have, so I’m always on the lookout for additional thoughts on this topic. In this podcast . . .
