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Like the downturns in 2008 and 2001, this has been a very trying time for entrepreneurs running startups. Join a CEO peer group. If you are in a peer group with other CEOs , it’s much easier to get perspective on what’s happening to you. I can personally attest that it’s very easy for a startup CEO to feel alone and isolated.
Sometime around 2003/04 my technology team turned me on to “Spolsky on Software&# a periodic newsletter served up blog style from Joel Spolsky of FogCreek Software, a maker of bug-tracking software. Blogs weren’t popularized yet so it was an oddity for me to read the founder of a software company spewing out advice.
This is part of my startup advice series. This post isn’t going to be popular. I’m sure of that. That’s OK. It’s still important advice for startup founders and something that I’m passionate about. And I care more about the debate than trying to be popular. And it’s important because it’s true.
Their DNA was wrapped up in a VC mindset that starting valuations were less important given the lofty later stage valuations and frothiness at that end of the market (hence over 1000 “unicorns” today vs only 8 in 2008 and 1 in 2001). Here are some possible explanations: There is still too much money chasing deals.
I raised money as an entrepreneur, like you, in 1999, 2000, 2001, 2003 and 2005 for two different companies. Raising money is hard. And when you’re relatively new to the process it’s easy to be confused by the process. There is all sorts of advice on the Internet about how to raise capital. Of course much of it is conflicting.
David Teten: Who are your peers/competitors, and how do you differ? David Teten: Who are your peers/competitors, and how do you differ? What sets us apart from our peers is our team’s deep operational experience. We’re fortunate to interview Victor Orlovski, Founder and Managing Partner of R136 Ventures.
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