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Tag Archives: Startups

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Top 10 Rules of Thumb for Startups

Top 10 Rules of Thumb for Startups

In my more than 20 years as a serial entrepreneur and investor, I have seen a few common mistakes among startups and entrepreneurs. Here are some tips to fix those mistakes: 1. Know What You Don’t Know When I visited New Zealand, I found that majority of their small and medium-sized enterprises had no board advisors at all. This is the problem of most startups: they don’t know what they don’t know. Most startups feel that asking for help is a sign of weakness. My advice is to have board advisors (comprised of people from different industries with diverse backgrounds) whom you can engage a couple of hours per week. Likewise, attend quarterly board advisory meetings where you present and account for your accomplishments, plans and goals. Having a board of advisors can help you learn the questions you do not know. 2. Keep People Informed Start monthly newsletters. The ... Read More »

5 Financing Mistakes Every Startup Entrepreneur Should Know

5-financing-mistakes-every-startup-entrepreneur-should-know

by David Drake   For startup entrepreneurs, knowing exactly how much capital they need to raise can be a challenge. As a result, most entrepreneurs either ask for very high or very low amounts. This  undermines their fundraising efforts. Breaking down numbers accurately can help address this problem. Accurate numbers assure investors, lenders and business owners that a good deal of research and planning went into creating a realistic view of a startup’s financial needs. It is easy for startup entrepreneurs to miss out on important details when creating a financial plan. Here are five common mistakes in startup financing you need to pay attention to:   1. Securing Less Capital than you Need   According to a Hiscox survey, about 18 percent of startup owners do not secure sufficient capital because they underestimate their starting costs. Entrepreneurs tend to be overly optimistic about generating sales over a short period ... Read More »

Where to Find Startups Worthy of Your Investment

Where to Find Startups to Invest in

When looking to balance out your portfolio, a great option to consider is investing in a startup company. Startups are radically different than traditional investments, and carry both advantages and disadvantages. First, investing in startups allows you to take more of a “hands on” approach with your money, as many entrepreneurs wish for their investors to be involved somehow. Investing in startups also enables you to have a true hand in how your money is used. There’s an air of excitement around startups, since you never know if you’re about to strike it rich with the next great idea. If you’re ready to take the plunge into startup investments, you’ll need to successfully locate promising startups in which to invest. Invest in startups with caution, though, as they can be extremely risky. In order to ensure you’re making smart choices with your money, we’ve outlined some great places to start ... Read More »

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