This is going to be BIG.
OCTOBER 25, 2012
A few times this week I've heard the term "Skin in the Game.". What it generally means is that you've put your own money into something--that you're risking something along side the people who are supporting you. I had an entrepreneur tell me that he put $75,000 of his own money into something because he thought it was important to have skin in the game.
Gust
OCTOBER 21, 2012
Apple NYC image via The Washington Post. A startup begins with a great idea, but all too often, that’s where it ends. Ideas have to be implemented well to get the desired results. Good implementation requires a plan, and a good plan and good operational decisions come from good people. That’s why investors invest in entrepreneurs, rather than ideas.
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Berkonomics
OCTOBER 25, 2012
In past insights, we’ve explored data gathering and dashboards for tracking the most important information to manage your company. Every good executive has a set of critical data points that best alert him or her to the changes in the flow of business most important to note and in many cases to curb a negative trend early in the game. There is a truism you should internalize: Most all big problems start off as small problems.
Tomasz Tunguz
OCTOBER 25, 2012
Last week, a close friend, who is a product manager/designer, told me he’s starting a company. He asked me where I thought the biggest opportunity lay given his skills and his passions. He’s incredibly capable and driven, but he hasn’t yet found the right place to apply his energy. My friend is in search of a problem to solve. He’s in the right place.
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This is going to be BIG.
OCTOBER 23, 2012
What's your equity split of this business and why? Are we comfortable with the thinking behind that? What is the scope of our business? What is outside the scope of what we want it to do? Are we allowed to do anything outside of the business? What is the expected time commitment? What are my roles going to be and how might that change over time in 3 months, 6 months?
Startup Catalyst Brief brings together the best content for the entrepreneurial ecosystem from the widest variety of industry thought leaders.
This is going to be BIG.
OCTOBER 22, 2012
I'm running the NYC Marathon this year to raise money for Camp Interactive. I'm about halfway to my goal, which about two weeks left--so I've come up with an idea. For four straight nights this week, I'm going to be answering questions live on Sprouter. I'm going to answer 50 questions per night starting at 10:30PM ET. The suggested price per answer is a $5 donation to my fundraising.
Tomasz Tunguz
OCTOBER 23, 2012
I met the Electric Imp team in April. I had bumped into one of their engineers at a party and he pinged me a few weeks later to say he was working for a startup and the company was raising. The company came in to the office on a Monday at noon. Hugo, the founder, Electric Imp demoed their product to me. Ten minutes in, I stopped the pitch meeting, pulled 3 partners from their Monday partner meeting, and issued a term sheet that afternoon.
Tomasz Tunguz
OCTOBER 21, 2012
It’s tempting to burrow within a garage or basement or apartment to develop a product for several months and emerge from the darkness with a new shiny product. But the launch will likely fall flat. Products must be launched into ecosystems, in particular, into receptive ecosystems. In my view, there are three types of ecosystems that startups should cultivate.
Tomasz Tunguz
OCTOBER 24, 2012
When I walk into a bank today, I might deposit my cash in exchange for some interest rate. The interest rate is my cut of the profits the bank made on my deposit through their trading and lending activities. The more assets under management, the more money a bank can make on its own account. Like banks, web companies are in the business of maximizing gigabytes of user data under management.
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Tomasz Tunguz
OCTOBER 22, 2012
Examining a user’s motivations at the entry point of every major feature in a product and matching the product to this motivation is key to building a great product users love. BJ Fogg’s Behavior Model Theory is a succinct summary of this idea in a formula: Motivation + Trigger + Ability = Behavior. This model says that a user will perform a behavior when given the means, the motive, and the opportunity.
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