The Startup Process by Rob Delwo
A really well-written, informed piece that talks about the various funding rounds in terms of what that company looks like from a risk, product, and team perspective. Read it.
Startup — part 2. The creator of Abstruse Goose is a magnificent bastard.
Mea Culpa? Me-a bummed out.
It’s a bummer that Mark Suster was bullied into this:
http://www.bothsidesofthetable.com/2011/08/24/mea-culpa
It’s a bummer because his original post (here) was brilliant. It was even-tempered, rational, and necessary. The dozens of FNAC corporations that get bought each year and get plastered all over TechCrunch are poisoning the minds of current, past, and future entrepreneurs - mine included.
I’m not saying there is no value in FNACs like group messaging services GroupMe & Beluga. There clearly is value; it’s apparent in their acquisition. But that does not make them a business. They are a cool set of features with some cool tech, great vision, and a talented team. Everyone on those teams deserves what they got in terms of cash and equity.
It’s admirable to take a chance on some cool new technology (I’ve done it twice) but to do it under the guise that you’re building a real business like everyone else is a tragedy (only did that the first time :) ).
I think we all could benefit from the wake up call that Mark gave in his original post. There is a difference between a Feature and a Company. Make sure you know which you’re getting into.
Required reading: http://www.bothsidesofthetable.com/2011/08/22/fnac-feature-not-a-company/
FourthSegment Blog: Welcome to the FourthSegment Blog
Check out what I’m working on next:
Hi,
I’m Ryan Angilly, and I, along with my business partner Jonathan Woodard, want to welcome you to the blog for our new company, FourthSegment.
Back in November, Jonathan and I started to ask ourselves: What’s the next big thing? What’s coming down the pipe that is going to…
If I had listened to all the people I was supposed to listen to — all the successful entrepreneurs before me, all the investors, all the business guys — if I had listened to those people, I wouldn’t be here.
Because they were wrong.
Entrepreneurs: Live your lives for the sides of the mountains
I’ve met a lot of entrepreneurs, want-to-be entrepreneurs, and soon-to-be entrepreneurs in my life. Many of them share the same set of high level goals:
- get an idea/direction
- get founders
- build a company
- get funded
- become profitable
- get acquired
- put money in their pocket
- become a mentor
- become an angel
- start a few more companies
- make the world a better place
Each of these events, save the last one, is a moment in a time. A pinnacle of achievement. A peak on a metaphorical mountain. For the most part, these moments are chronological: you can’t get to one without getting to the previous one. You work day and night striving to reach these peaks. You sacrifice, suffer, and fight to get there.
The funny thing, though, is that very little time is spent IN those moments. Maybe a handful of days over the course of your life will mark the moments where you’ve ascended to that next peak. The fact of the matter is that the majority of your life as an entrepreneur is spent on the sides of the mountain — on the path toward the peaks. The days, weeks, and months in between: that’s where you live your life. That’s where you laugh, cry, and love.
I think it’s easy to forget that truly “making the world a better place” doesn’t happen on a day. It doesn’t happen after step 10. Making the world a better place is done while you’re on the sides of the mountain. It’s a byproduct of how you behave day to day. It arrises naturally from the way you decide to live your life and treat people.
The majority of entrepreneurs I’ve met in my life have been during my six months here in Boulder. And it has blown my mind how many of you are living your lives for the sides of the mountain. You might not realize that you get it, but you do. And for that, I want to commend you, and encourage you to keep at it.
Some people don’t exactly get it. It’s not that they’re bad people. They just haven’t been nudged (or slapped :)) lately. So I hope this can serve as a little bit of that nudge. Think about what you want to accomplish in your life, and don’t lose sight of the path while focusing on the peak.
You do that, and everybody wins.
PS. This stuff doesn’t just apply to entrepreneurs ;)
Hey mom I’m on TV again! (in the background…)
The Day I quit my job at Punchbowl
A quick tale of the day I quit my job at Punchbowl.com
Edit: Tumblr or Vimeo is having issues embedding this on iPhones/iPads I think. You can try this direct link if it’s not working: http://www.vimeo.com/15445920
