Gust

JULY 19, 2014

'With Gust , the power of the system is that your completed investor relations profile can now serve as your official application to virtually any organized angel group in the world…all you need to do is share it with them*. I’d suggest that you browse through the Gust investor search engine for investment groups (and accelerators, incubators, business plan competitions, et al) that are relevant to your startup (by location, industry, type of organization, etc.), and read their

incubation 142

incubation accelerator investing investment 142

Gust

JUNE 8, 2014

'Virtual Team meeting image via Wikimedia blog. Almost every startup is a virtual team these days, since most don’t start out with dedicated office space, and some or all members of the team work part-time or out of their own home. It’s a small world, so these team members may not even be in the same town, or the same country. Outsourcing is just another extension of the virtual team concept to people you don’t even know.

enablement 187

enablement entrepreneurs energy culture 187

Gust

FEBRUARY 23, 2014

'Justin Timberlake and Andrew Garfield via Wikipedia. Most startups dream of attracting a celebrity endorsement, and assume that it will take their startup to the stars. Startups such as Chirpify have managed to flourish and raise millions with endorsements from folks like Lil Wayne and Snoop Lion. Others go the way of 12Society , an LA subscription commerce startup with six celebrity sponsors, but still couldn’t get any traction.

ventures 151

ventures entrepreneurs entrepreneurship education 151

Gust

FEBRUARY 2, 2014

'I don’t have an MBA. I used to fear that this would put me at a disadvantage in starting my own company, but now I’m convinced that it may be the other way around. In some reputable surveys , as many as two-thirds of entrepreneurs felt that their entrepreneurial spirit was more ingrained than learned, so a specific education level is at least irrelevant.

entrepreneurs 175

entrepreneurs education entrepreneurship investing 175

Gust

JANUARY 22, 2014

'This is obviously a softball question that I’ve been Asked to Answer, as I’m the Founder/CEO of Gust. The answer, of course, is Gust —because that’s exactly the purpose behind the platform! Gust is the infrastructure that underlies much of the professional world of early stage finance. It is used by hundreds of thousands of companies in 195 countries to organize all of their investor relations material; it is used by over a thousand angel investor networks, venture capital

investment 150

investment investing peer-to-peer entrepreneurial ecosystem 150

Gust

JANUARY 19, 2014

'Image via Flickr (Creative Commons). Over the years, I’ve had the privilege of working with some of the best entrepreneurs in Silicon Valley and elsewhere. On the average, the entrepreneurs I know are living on Ramen noodles. But one thing they all seem to have in common is a love for learning and change. They rush in with a passion to better the world, and money is just an indication of their progress.

entrepreneurs 172

entrepreneurs creativity advice networking 172

Gust

NOVEMBER 17, 2013

'Image via IntellectualVentures.com. If you expect to succeed in the thrill-a-minute, roller coaster ride of a startup, let me assure you it takes more than a good idea, a rich uncle, and luck. In fact, the idea is often the least important part of the equation. Most investors tell me that they look at the people first, the business plan second, and only then at the idea.

ventures 194

ventures creativity construction entrepreneurs 194

Gust

FEBRUARY 17, 2013

Image via Facebook. Go-to people get things done. As an entrepreneur, you need these people, and you need to be one, if you expect your startup to be successful. That may be easier said than done, since resumes do not tell the story, and without real nurturing, the best people won’t stay around long. To highlight how rare this breed is, Jeffrey Gandz of the Richard Ivey School of Business relates a quote from a new CEO in a large company, “I have more than 1000 people in my head office org

entrepreneurs 173

entrepreneurs culture creativity leadership 173

Gust

JANUARY 13, 2013

Mark Zuckerberg at Harvard via ShinyShiny.tv. Many believe that entrepreneurs are born, not made. While I agree that successful company builders usually have a natural inclination to be entrepreneurs, a good education helps polish that apple. There are people who are natural musicians, but that doesn’t mean we don’t try to teach them music.

entrepreneurs 180

entrepreneurs peer-to-peer entrepreneurship education 180

Gust

DECEMBER 31, 2012

Richard Branson image via Wikipedia. The buzz from startup executives, especially high-tech ones, has long been that startups are no place for Baby-Boomers (1946-1964) – you must have the high energy and crazy determination to work 20-hour days to succeed. Only the under-35 age group need apply. I will argue that times have changed, and you better take another look.

startup 177

startup energy construction consulting 177

Gust

NOVEMBER 11, 2012

Google's Larry Page image via Coolspotters.com. A while back, when a startup founder mentioned to me that he wasn’t sure he had the personality to be an entrepreneur, I realized how important that insight was. My first thought is that if you are more annoyed than energized by expert advice, team suggestions, and customer input, then you should probably avoid this line of work.

entrepreneurs 189

entrepreneurs creativity entrepreneurship advice 189

Gust

NOVEMBER 8, 2012

As I write this, days after the 2012 presidential election, I’m probably not alone in feeling relieved that the political jeering and soapboxing that reached a feverish pitch during the seemingly endless campaign season has finally subsided. Yet amidst all the partisan cheerleading and name-calling, there has been some discussion of substance.

economic growth 187

economic growth entrepreneurship creativity innovation 187

Gust

SEPTEMBER 23, 2012

Most entrepreneurs think that risk is just an “occupational hazard” that can be minimized or eliminated by a smart businessman. That way of thinking is simplistic and wrong. In reality, some risks are good and should be embraced for growth and a competitive edge, while others are bad and should be avoided completely. Traditional risk management focuses only on bad risks, and seeks to contain losses.

entrepreneurship 188

entrepreneurship SaaS sustainability entrepreneurs 188

Gust

DECEMBER 14, 2023

When people hear about the 25 percent annualized rate of return that active angel investors obtain, they assume that there must be some secret involved—perhaps an old-boy network of hidden links that connects angels to brilliant entrepreneurs and tech innovators or a mathematical algorithm developed by some genius at MIT that helps angels identify and invest in the businesses that are guaranteed to be the Apples, Googles, and Facebooks of tomorrow.

investment 91

investment investing networking innovation 91

Gust

OCTOBER 30, 2015

In Q3 the global startup ecosystem continued to thrive, with 25% growth over the same quarter last year and up 18% from last quarter, as the innovation economy expands around the world. Quarterly data from Gust, the online platform for the global angel investment industry, reveals that while incumbent leaders show no sign of slowing down, new industries and areas Read more >.

innovation 142

innovation incumbents angel investing startup ecosystem 142

Gust

AUGUST 17, 2015

With all the news about hundred million dollar rounds and billion dollar valuations, it can be hard not to look at the world of entrepreneurship and angel investing as a thrilling ride that only has one stop: success. But to be a successful entrepreneur or serious angel investor, you must have a realistic understanding of the startup failure rate and Read more >.

angel investing 195

angel investing startup entrepreneurship entrepreneurs 195

Gust

DECEMBER 14, 2014

'TED Conference image via Wikipedia. When entrepreneurs come to me with that “million dollar idea,” I have to tell them that an idea alone is really worth nothing. It’s all about the execution, and investors invest in the people who can execute, or even better, have a history of successful execution. Execution is making things happen, and for startups it usually means making change happen, which is even more difficult.

entrepreneurs 189

entrepreneurs creativity startup founder investing 189

Gust

NOVEMBER 30, 2014

'Quote from Steve Jobs via Flickr. Steve Jobs was one of those entrepreneurs who seemed universally either loved or hated, but not many will argue with his ability to innovate in the technology product arena over the years. He was instrumental in creating Apple, which has pioneered a dazzling array of new products, and even surpassed Microsoft, to become the world’s most valuable technology company.

creativity 194

creativity innovation entrepreneurs technology 194

Gust

OCTOBER 29, 2014

'The first question you need to ask is “What country are you in?” and the second is “Are you an Accredited Investor by that country’s standards?” If we’re talking about the US and you are NOT at the Accredited level ($1 million in investable assets, or $200,000 annual income), then for the moment you are actually not allowed to invest in privately held startups (emerging public companies, of course, you can buy on the stock market like everyone else.).

investment 157

investment investing funders angel investing 157

Gust

OCTOBER 26, 2014

'Image via Flickr from Food For Thought album. 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, and distractions of finding angels or VCs, and allows you to keep control and all your hard-earned equity for yourself. Despite all the focus you hear on external investors, over 90% of startups today are self-funded.

startup 176

startup creativity entrepreneurs advice 176

Gust

OCTOBER 19, 2014

'Image via Flickr by Joshua Gajownik for opensource.com. I always advise software startups to file patents to protect their “secret sauce” from competitors, and to increase their valuation. The good news is that a patent can scare off or at least delay competitors, and as a “rule of thumb” patents can add up to $1M to your startup valuation for investors or M&A exits (merger and acquisition).

VC 173

VC technology entrepreneurs development 173

Gust

OCTOBER 8, 2014

'Marc Andreessen kicked off another great debate on Twitter last night, one that I’ve been talking about incessantly in private circles for the past 2-3 years – what actually IS the definition of a seed vs. A-round. Cautionary note: No competent VC is actually fooled when you show up after raising $6M in seed financing and say you’re now raising an A!

VC 136

VC advice financing finance 136

Gust

OCTOBER 8, 2014

'A woman you don’t know tells you that she’s going to run a marathon of 7-minute miles. She’s never run a long distance race before. Would you bet on her completing it in record time? Probably not, right? “Watch me,” she tells you. And so you do. You’re impressed when she clocks her first mile at 7 minutes. A single mile does not a marathon make, but still, it’s a major milestone.

venture capital 163

venture capital capital ventures financing 163

Gust

AUGUST 17, 2014

'Zappos logo via Flickr by Ben Spark. One of the most common failures I see in startups is lack of focus. Unfocused entrepreneurs boast that their new technology will generate multiple disruptive products for consumers as well as enterprises around the world. Investors hear this as trying to do too many things with limited resources, meaning the startup will not shine at anything, and will not survive the competition.

entrepreneurs 182

entrepreneurs mix-use disruption education 182

Gust

AUGUST 3, 2014

'Thomas Edison image via Wikipedia. In my experience, inventors and technologists aren’t interested or aren’t very good at building a business, and entrepreneurs aren’t usually good scientists. These people need to find each other, and can jointly make a great team for a new startup. Without the synergy, companies like Apple might never have gotten off the ground.

entrepreneurs 165

entrepreneurs creativity investing investment 165

Gust

JULY 27, 2014

'People are always asking me for an inside tip on Internet sites that will be “the next big thing.” Those are hard, since someone has to invent something innovative, but I do have some views on other ideas whose time has come and gone. In some cases, these are concepts that have already been done too many times, and the space is crowded. In others, the concept has been tried too many times, or no one has yet succeeded in making any money.

entrepreneurs 182

entrepreneurs incumbents networking innovation 182

Gust

JULY 26, 2014

'If founding a startup was easy, there would be a lot more of them, and the percentage that are successful would be much higher. Unfortunately, it isn’t. The essence of entrepreneurship is creating a new venture where one does not already exist in the market as you find it. As such, the founding process is one in which the entrepreneur is competing with market forces.

startup 156

startup entrepreneurship entrepreneurs investing 156

Gust

JULY 6, 2014

'Photo via Flickr by Eric Chan. I talk to many people who have spent years struggling up the corporate ladder who dream of jumping ship and becoming an entrepreneur. I hasten to tell them that every job move is fraught with risk, but the move from employee to entrepreneur is on the high end of the risk curve. It’s a big jump, especially in today’s economy, so do your homework first on this one.

startup 183

startup entrepreneurship entrepreneurs consulting 183

Gust

JUNE 28, 2014

'The main one is simultaneously obvious and under-estimated in both directions: you are likely getting a bunch of small-ish investors at once. This might typically be anywhere from five to twenty-five investors each putting in somewhere between $10,00 and $100,000 (depending on the group.). The good side is that you now have 5-25 smart, connected people rooting for you.

investment 148

investment investing advice collaboration 148

Gust

JUNE 15, 2014

'Image via Wikipedia. Everyone seems to like the aspect of being an entrepreneur that goes with “being your own boss” and “able to do things my way.” But sometimes they forget that this kind of freedom comes with a price of personal accountability. Accountability means “the buck stops here,” and “all the failures are mine.”. Too many people seem to do whatever it takes to avoid accountability, both before and after the fact.

entrepreneurs 174

entrepreneurs entrepreneurship investing investment 174

Gust

JUNE 1, 2014

'Image via Wikipedia. Entrepreneurship is not a job for the Lone Ranger. Every startup requires building and maintaining effective relationships with people, including partners, team members, customers, and investors. That means giving and asking for feedback, and learning from it, especially negative feedback. “Friction” is feedback mixed with emotion or drama, making it all the more difficult to sort out the value.

peer-to-peer 162

peer-to-peer startup entrepreneurs entrepreneurship 162

Gust

MAY 18, 2014

'The days are gone when a techie or a genius could build things in his garage and customers would find and buy the product, based purely on the “wow factor” of the technology. New technologies are everywhere today. People have seen so much that they are blasé, or actually fear pure technology. They want a personable brand, before they will consider the product.

media 166

media strategy education networking 166

Gust

MAY 3, 2014

'The facile answer to this assumptive question is “because some women are not seeking funding from venture capital firms” But there is actually quite a bit of truth in both statements. Women-led ventures definitely account for a smaller percentage of venture investments than do ventures led by men, but women-led ventures also account for a MUCH smaller percentage of ventures seeking funding in the first place!

venture capital 152

venture capital ventures capital education 152

Gust

APRIL 27, 2014

'Software Development Process via Wikipedia. Even when your startup is a one-man show and lots of fun, a “business” needs some discipline and controls to keep it from being defined as a hobby by investors, and assure some financial return. Like it or not, you are now entering the dreaded realm of specifying and documenting “formal business processes.

startup 187

startup entrepreneurs development networking 187

Gust

APRIL 20, 2014

'Image via Wikimedia Commons. It’s your startup, so you can give early partners any title you want, but be aware of potential investor and peer implications. VCs and Angel investors like to see a startup that is running lean and mean, with no more than three or four of the conventional C-level or VP titles. More executives, or other more creative titles are seen as a big red flag.

peer-to-peer 171

peer-to-peer creativity board startup 171

Gust

APRIL 13, 2014

'Photo of Chairman of Google Eric Schmidt with Sergey Brin and Larry Page via Wikipedia. A while back I talked about how and where to find a co-founder in “ For a Startup, Two Heads are Always Better Than One ”. The feedback was good, but some readers asked me to be a bit more specific on attributes that might indicate an ideal startup partner. Even if you are looking in all the right places, it helps to know what you are looking for.

entrepreneurs 179

entrepreneurs leadership education financing 179

Gust

MARCH 23, 2014

'Image via Flickr by krossbow. These days, your online Internet reputation is your reputation. Of course, having no reputation is usually better than a bad one, but don’t wait for someone else to establish a good one for you. It’s time for every business and business person to proactively create a positive presence, before someone else puts you in a defensive mode that is hard to win.

disruption 178

disruption networking entrepreneurs innovation 178