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Note: This is part I of a four part series. Access part II HERE, part III HERE, and part IV HERE. Agreements with Big Dumb...

ConTraps Part I: Contract Traps Entrepreneurs Should Avoid At All Costs

Note: This is part I of a four part series. Access part II HERE, part III HERE, and part IV HERE. Agreements with Big Dumb Companies (BDCs) are like DC Comic’s evil villainess, Poison Ivy. Both are seductive and alluring and both are potentially fatal. A startup’s most meaningful agreements are often struck with BDCs. You will no doubt craft agreements with companies of similar or even smaller size to your own. However, your greatest risks and greatest opportunities will arise from the deals you cut with larger entities. Fortunately, it is possible to craft lucrative deals with BDCs that do not limit your adVenture’s ability to charter its own destiny. Just as Batman repeatedly avoids Poison Ivy’s kiss of death, so too must entrepreneurs avoid the Kiss of Death provisions which BDCs attempt to include in their agreements.
I recently had the pleasure to chat with Firas Raouf, Partner at OpenView Venture Partners regarding my Startup CEO Performance Review articles. If you have...

Startup CEO 360-Performance Reviews – The Podcast

I recently had the pleasure to chat with Firas Raouf, Partner at OpenView Venture Partners regarding my Startup CEO Performance Review articles. If you have not had a chance to do so yet, you may want to scan Part I and Part II before you listen to my interview. The 12-minute podcast will likely make more sense if you first have a frame of reference for the approach I implemented. Click on the OpenView logo to listen to the podcast: _______________________________
Odysseus could not help himself. He knew the risks, but he had to hear the alluring sound of the Sirens’ song. In Greek mythology, the...

Entrepreneurs Should Go For The Quick Buck – Then Stop

Odysseus could not help himself. He knew the risks, but he had to hear the alluring sound of the Sirens’ song. In Greek mythology, the Sirens were a combination of birds and women who sang to passing sailors, enticing them to approach the shore and crash on its hidden shoals. To avoid wrecking his ship, Odysseus instructed his crew to plug their ears and ignore his orders, no matter how much he implored them to approach the Sirens’ island. Many entrepreneurs encounter a similar dilemma. They often identify expeditious ways to make money in the early days of their adVentures, which allow them to reduce the amount of capital they must raise from outside investors. Unfortunately, such initially alluring business models can ultimately result in their ruin. Thus, entrepreneurs must decide when to stop listening to the Sirens’ song of a quick buck and position their company to take advantage of long-term, sustainable business models.
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