I have a simple rule I like using, and I’ll share it with you. It’s always a red flag when something (with the exception being the technology) is supposedly complex. [Do you want to grow your business? Maybe I can help. Click here.] The same holds true for getting your team to buy into your company culture.…
When I was just starting my career, I was blessed to work at a really successful company for a really good CEO. I learned a lot working for Jack Gifford at Maxim that I could use when I started my own company. One of the most important lessons I learned was the power of promoting…
I remember talking with my Dad about the absolute necessity of having Tier 1 investors for my company. I was an EIR (Entrepreneur in Residence ) at a San Francisco based VC fund at the time, and I had just formed my company. In fact, we hadn’t even started raising money. Yet here I was,…
“I want to pay half market rate,” the CEO, “Richard”, said to me. Richard had just raised his first round of funding. I asked Richard why? Richard said, “I want them (the employees) to share in my risk.” Richard’s feelings are not unique. You might feel the same way. “But 50% of the market rate…
When you’re just starting out, you may have some members of your team that have serious issues. Ideally, you’d let the person go and find a replacement. But you may not have that option when you’re just starting out because the perfect fit for a given role may not want to join your startup yet.…
“How many people do I need on my the board?” I asked our attorney Marcia when I was incorporating our company. “You need to have a board of directors, but it doesn’t have to be large. In fact, you can be the only member of your board when you’re starting out.” “Really,” I answered. “The…
I once heard a CEO of a company that recently IPO’d say, “Work life balance? You’re running a startup. You can’t have work life balance. Just forget taking vacations.” I believe the thought process that you can’t take vacations and have a successful startup is wrong. You can take vacations and have a successful startup.…
Of all the crazy, stupid, ridiculous things I’ve ever heard, I’d have to say this doozy from “Donald”, a very well known billionaire VC, has to be the craziest, stupidest thing ever: “I hate high margin businesses!” It just goes to show you how much things have changed when it comes to building companies. I’ll…
A few years ago a CEO of a pre-revenue startup reached out to me for guidance. The company was preparing to raise money. The CEO said to me during the initial consultation, “We’ve had a 409A valuation done on the company, and the valuation indicates the company is worth $20M. “We’re trying to raise $2M,…
Years ago, I remember a startup CEO telling me, half joking, that his hiring criteria was, “Anything that breathes.” That’s not exactly a sound strategy to grow you startup, is it? I think what the CEO meant was that it’s tough to hire really good people when you’re starting out. The reality is it’s always…