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Most entrepreneurs avoid setting up a board of directors for their new business unless or until they sign up an investor who demands a seat on the board. That implies that a board of directors has no value to the founder, and is just another burden that to be assumed for the privilege of attracting Read More

Some analysts argue that revenue drives growth, while others say user growth drives revenue. Both have worked. Google reached $1B in revenue within five years of incorporation, and now has a market capitalization of over $800B. Twitter showed no focus on revenue in the first five years, but was abl Read More

After many years as a mentor to aspiring entrepreneurs, and an occasional angel investor, I realized that new venture founders all seem to stumble on similar pitfalls, despite my best efforts to steer them to smoother routes. Of course, I would never say never, and passion does overcome many obstac Read More

Most entrepreneurs spend far too much time thinking negatively about competitors, and can’t resist making derogatory statements to their own team, to investors, and even to customers. This approach only makes these important constituents question your integrity, intelligence, and your understanding Read More

Crowdfunding has come a long way in the last decade with the Internet and many popular platforms, including IndieGoGo and Kickstarter. In fact, crowdfunding now rivals both venture capital and angel funding as the money source of choice for new entrepreneurs. As a small business advisor, I often re Read More

Savvy entrepreneurs start testing their ideas on potential customers even before the concept is fully cooked. They have enough confidence in their ability to deliver that they don’t worry about someone stealing the idea to get there first, and they don’t forget to listen carefully to critical feedb Read More

As a startup investor, I often see business proposals looking for funding that really look like expensive hobbies looking for donations. I recognize that entrepreneurs tend to substitute vision and passion for formal processes, but using no discipline or process in building something new is a sure Read More

Aspiring entrepreneurs who rely only on traditional learning vehicles (teachers, classrooms, and risk-free practice) are doomed to failure in anticipating change today. Either they are never really ready to commit, study an opportunity until it has passed, or fail with tools and techniques from a b Read More

In my experience with entrepreneurs, there seems to a wealth of self-proclaimed “idea people” who aspire to start businesses, but only a few who are willing and able to dig in and get the job done. All the great ideas in the world won’t make a business, if the ideas never get implemented. Only rare Read More

Most companies today claim they are embarked on a transformation to ensure their long-term survival in this era of disruption and rapid change. But in their day-to-day practices, many of their leaders and employees blindly follow the same practices they always have. The results include a rising tid Read More