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How Did You Get Your First Big Break As An Entrepreneur?
“Brett, come with me and take your stuff with you,” the VP of HR said to me. We were in the middle of the company’s weekly operations meeting. The minute the VP of HR asked me to take my stuff I knew I was being fired. And being fired from this company was my big…
Read MoreWhat Qualities Make A Good Startup Engineer?
“What do you think of Kevin?” Our VP Engineering asked me. “I like him. He’s clearly strong technically, and his experience is spot-on. I think he will fit our culture too. “The one concern I have is he’s been jumping from job to job every two years or so. And we can’t have that happen…
Read MoreWhat Is The Best Way To Deal With A Popular Employee That Is Underperforming?
I had a cofounder that was very similar to the description of your employee. Everybody loved “Ken”. He was funny, got along with everyone, fit our company culture, and was a positive influence inside the company. There was only one little problem Ken had: Ken was performing horribly at his job. Here’s the thing, there…
Read MoreWhat Are The Most Important Things To Keep In Mind When Scaling Your Startup?
“We’re in the first stage of a three stage fab expansion,” “Bob”, the CEO, proudly told me. It was December 2000, and I was being recruited to run the Communication’s Division of Bob’s company. The economic bubble was bursting already, yet here was this CEO boldly proclaiming his company was expanding. “Do you really think…
Read MoreWhat Are Some Common Mistakes Founders Make When Pitching To Investors?
About three years ago I sat through a bunch of pitches with a VC fund I was helping. It was amazing watching every one of the companies presenting make the same mistakes. Here they are: A. You have to get to the point fast. You’ve got seven seconds to make an impression. Seven…
Read MoreWhy Do So Many Entrepreneurs Think Their Ideas Are Worth Billions?
When I started my company, I believed we were going to win. There was no doubt in my mind. When 63 VCs passed on us, and there was only one VC left as a possible investor, I believed we were going to win. There was no doubt in my mind. When revenue wasn’t going as…
Read MoreCan You Legally Remove Equity From A Cofounder You Want to Fire?
Oh it pains me to see the same mistakes made over and over again. Your cofounders have a certain percentage ownership in your company. And they have this percentage without the equity having to vest. You can’t just take the equity back saying, “We don’t like you.” It doesn’t work that way. The good news…
Read MoreHow Do Entrepreneurs Like Elon Musk Eliminate Distractions?
When I was younger, I would walk into my office with my coffee and plug in my computer. I would take a quick look at my email, and maybe surf the net for a bit. I have some long term goals that I need to work on, but I also have some tactical, day-to-day tasks…
Read MoreHow Do You Overcome Entrepreneurial Fear?
It’s Tuesday morning at 9:18AM. My heart rate suddenly raced to what felt like 200 beats per minute. I couldn’t believe what I was hearing. We had just agreed to terms with a new lead investor. We were in the process of closing the funding. And now “Raul”, one of our two existing investors, just…
Read MoreIs It True That Technical Founders Are More Important Than Non-Technical Founders?
“It’s really hard to find the skill you have in product definition and marketing,” my cofounder, Vice President of Engineering said to me one day. “I think it’s next to impossible to find engineers that have the technical chops and business sense you have,” I replied. Each side thinks the other is absolutely necessary for…
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