Deals that get done...

When we're pitched startup investments, founders often come in with an ask for their valuation. Often times that amount is reasonable. Many times, it’s what we consider way too high. The explanation I make to the founders when we give feedback goes like this: "While I admire your…

Too Much Money vs. Too Little Money

Would you prefer to start a business with too much initial capital or too little? I believe you're better off starting a business by erroring on the side of having too little money. Companies are like projects. Have you ever noticed how they always seem to use all the time…

Slides from my session at Galvanize

Laura Lorek of Silicon Hills News hosted me at Galvanize in Austin, Texas today. It was a fun session that was a re-hash of my session at Collision on Seed Fundraising. I've seen too many founders just not have any process to run a fundraising round. This presentation covers one…

Does Anyone Want Your Idea?

I often talk with people as to what's more important: sales/marketing or product. Early in my career when I was on the tech side, I'd clearly say product matters the most. Now I know that sales and marketing are the key factors that make or break a company.…

When do you hire your first salesperson?

We encourage founders of B2B companies to make at minimum the first twenty sales before hiring their first salesperson. After twenty sales, the ICP (Ideal Customer Profile) is pretty set. You have a good idea of how to find them, speak to them and what their objections may be. At…

Counting Your Lucky Stars

One of the many phrases going out of fashion is the idea of "counting your lucky stars." I heard it often from my grandparents. It means be thankful for being fortunate. I used it the other day. I was speaking to a founder whose very hot startup had…

Always Have an Ask

I had a great time at Collision Conference in New Orleans earlier this week. As part of the conference, the organizers set up office hours with startups. I'd ask each startup, "So, why are you here at the show?" I was surprised at the large number who had…