12 Jun, 2017

Who has time to sleep? [#DailyPerspective]

By | June 12th, 2017|Perspective of the Day|0 Comments

We have all had friends and family say to us, "you need to get some sleep." Our immediate reaction is "who has time to sleep - we are trying to create a business here and we have a million things to do." As entrepreneurs, it seems like foregoing sleep is not only a necessity but a badge of honor that comes with the title "entrepreneur." Nothing could be further from the truth.

9 Jun, 2017

Ask Your Friends for Help The Right Way. [#DailyPerspective]

By | June 9th, 2017|Perspective of the Day|0 Comments

We all have friends and family who offer to help us in our businesses. Unfortunately, we don't take advantage of these valuable offers in a way that really helps our business. To do it right, think about a specific need you have that is small and focused but that can help you.

8 Jun, 2017

Want to Compete on Price? Don’t. [#DailyPerspective]

By | June 8th, 2017|Perspective of the Day|0 Comments

Raising money can be a full-time job and takes years of experience to understand how it works. There are many individuals sometimes called brokers, that spend their lives helping companies raise the capital they need. Generally these third parties earn their keep by receiving a percentage of the amount that they raise - usually 5 to 10%. So when does it make sense to use a third party like a broker raise money?

7 Jun, 2017

Use Public Forums to Drive Accountability [#DailyPerspective]

By | June 7th, 2017|Perspective of the Day|0 Comments

Companies use the word "accountability" but it is hard to know how to put that in place in the fast moving environment of an entrepreneurial venture. In many cases, the leader or founder of the company tries to drive accountability by talking directly to someone about a goal, activity or deliverable. And while that should work in many cases, often times in a one on one an individual may not respond. So what can you do?

6 Jun, 2017

People Don’t Love Software. They Love Their Spouses, Kids and Pets [#DailyPerspective]

By | June 6th, 2017|Perspective of the Day|0 Comments

When we are talking to investors, we are passionate about our product or service. While this is a good thing, it causes us to use language that can be a turnoff to investors. If you are describing how your customers view your product or service, and you respond, "our customer LOVES our tracking software", it strains your credibility.

5 Jun, 2017

More Than They Ask, Before They Ask [#DailyPerspective]

By | June 5th, 2017|Perspective of the Day|0 Comments

What sets one sales effort apart from another? If we all have competition, how do we earn the right to advance in the sales process. Every good sales professional will respond to customer requests for more information about your product or service quickly and thoroughly. But there are very few salespeople that will provide customer proactively provide customers with valuable information. In other words, provide "more than they ask, before they ask."

1 Jun, 2017

When Should I Hire a Broker to Help Me Raise Money [#DailyPerspective]

By | June 1st, 2017|Perspective of the Day|0 Comments

Raising money can be a full-time job and takes years of experience to understand how it works. There are many individuals sometimes called brokers, that spend their lives helping companies raise the capital they need. Generally these third parties earn their keep by receiving a percentage of the amount that they raise - usually 5 to 10%. So when does it make sense to use a third party like a broker raise money?

31 May, 2017

Should I Take Money from Friends & Family? [#DailyPerspective]

By | May 31st, 2017|Perspective of the Day|0 Comments

This is a tough one. People that know you and believe in you are often very willing to give you money to pursue your business. They often don't put you through the rigors of due diligence the way an independent third party does. So in this sense they are a common source of capital for early-stage companies. But there is a catch. Because you have a personal relationship with these individuals, the nature of your relationship is not simply as an investor. Often times they will have higher expectations of you and you may have higher expectations of yourself because of that personal relationship.

30 May, 2017

How Much Money Should I Raise [#DailyPerspective]

By | May 30th, 2017|Perspective of the Day|0 Comments

One of an entrepreneur's most challenging dilemmas is how much money to raise. It has far-reaching implications, not the least of which is how much ownership in your company you're going to give away. While there is no magic answer to this question, here is a simple guideline that might help you in your fundraising efforts.