11 Apr 2013
According to this, most serial entrepreneurs display persuasion, leadership, personal accountability, goal orientation, and interpersonal skills. But, there are four distinct skills lacking in most serial entrepreneurs: empathy, planning and organizing, self-management, and analytical problem solving. Given they are critical to success of an organization, it seems advisable for investors to keep an eye open for these leadership deficiencies and have a plan for filling them.
07 Mar 2013
So when a start-up hits the wall, it’s usually a pretty fast death as people run for the doors. And they run for the doors because they think all value has vaporized, they need a paying job, and while it’s okay to have been associated with a failed start-up, there is a stigma attached to hanging around the carcass too long. But there is usually value in the fast sinking ship: the people themselves, their ideas, their teamwork, their connections, and, of course, their IP. So this guy at ExitRound is trying to develop a way to effectively broker the remains. Kind of interesting.
An update on the disturbing 2012 venture capital return analysis by Kauffman Foundation : http://dealbook.nytimes.com/2013/02/04/venture-capitals-sluggish-performance/
Good advice here for seed capital and angel financing for start-ups. And the most prescient is the advice re numbers. Raising money is rarely easy and the best attitude to have is that it’ll take 100 “nos” for every “yes.” And you just plug away knowing that every “no” is getting you closer to the “yes.” In essence, every “no” represents progress…a victory of sorts. In my experience over the years of raising $6 billion, a good story can always find investors to back it and persistence always wins. Always. A bad story is another story…
As an investment banker, I often hear CEOs bad-mouthing private equity and venture capital firms. And I get that..it’s tough to have someone over your shoulder demanding performance. But the data says companies backed by these capital sources perform better.