Everyone Should Vest
One of the biggest mistakes that startups make is failing to place vesting conditions on founders’ equity. Here’s an example: Two founders, Adam and Blake, are working on their startup, and everything is butterflies and rainbows. They have a great […]
Make An Investment In Legal
A question I often hear from startups when discussing initial legal work is, “How much will this cost?” This is the wrong question – most startups are looking at their legal expense the wrong way. They should be asking, “How […]
Find Some Naysayers
A common mistake that I see aspiring entrepreneurs make all too often is failing to find anyone who will challenge their idea. I addressed this in my review of Silicon Valley S3, Ep7. Affirmation from loved ones is often a […]
Pitch Decks Are The New Business Plan
Back in the day, like, the early aughts, it was widely believed that you needed a 20 to 40-page business plan and 40-80 hours to create it. The business plan was a written record and forecast of your idea, replete […]
Your Idea Is Worth Nothing
“I’ve got this great idea…” How many times have you heard that? For me, it’s weekly, if not daily. But no one makes money on an idea. As a founder, you have to realize that ideas are easy, they are […]
What’s The Difference Between A Small Business And A Startup?
What’s the difference between a small business and a startup? Structurally – a lot. Operationally – not much. And I’ll explore that throughout this series. To me, startups are a subset of small businesses. They are both initially owned by […]
If I Were Starting A Business…
There has never been a better time to start a business. The power of the internet coupled with plummeting startup costs (and if you’re in the US – advantageous tax regulations) creates the perfect backdrop for anyone looking to start […]