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I always advise software startups to file patents to protect their “secret sauce” from competitors, and to increase their valuation. The good news is that a patent can scare off or at least delay competitors, and as a “rule of thumb” every patent can add up to $1M to your startup valuation for inve Read More

“Scope creep” (or feature creep) is an insidious disease that kills more good startups than any other, especially high-tech ones, and yet most founders (who may be the cause) never even see it happening. This term refers to the penchant to add just one more feature to the product or service before Read More

Many entrepreneurs still dream of “going public,” making billions of dollars, and playing with the big boys. They don’t realize that this option would likely be their worst nightmare, since it costs millions for the road show, usually dilutes your equity to a tiny fraction, and takes away all your Read More

For all entrepreneurs, starting a business is the route to “life, liberty, and the pursuit of happiness,” no matter how risky. It’s the American dream that has been the goal of people in this country for over 230 years. If you are here in the U.S., I hope you are all able to take some time off this Read More

Angel investors and venture capitalists don’t invest in non-profits. The simple reason is that it’s impossible to make money for investors when the goal of the company is to not make money. Yet I still get this question on a regular basis, so I’ll try to outline the considerations in common-sense t Read More

Are startup founders who play poker statistically more likely to succeed in business? Beats me. But I do know that there are many lessons that founders can learn from poker players. As we all know, poker used to be relegated to smoky casinos and the back rooms of seedy lounges. But, in recent years Read More

These days I see a surge of new startups as we fight our way out of the recession. If you are not starting one yourself, the next best thing is joining one as a partner, or as an early employee. It takes much the same preparation to make you the best entrepreneur, or the best job candidate. Of cour Read More

Most entrepreneurs tend to avoid this area of the business, and as a result are badly surprised by cost realities, and investor expectations. They seem to think that financial projections are simply invented numbers for investors, and not useful. In reality, it’s like jumping in your car for a long Read More

A while back I talked about how and where to find a co-founder in “Ten Steps in Choosing the Right Startup Partner”. The feedback was good, but some readers asked me to be a bit more specific on attributes that might indicate an ideal startup partner. Even if you are looking in all the right places Read More

Presenting your startup vision as a founder to a potential investor, or presenting an idea as an employee to an executive, requires that you effectively communicate, or “translate”, the value proposition into terms that the receiver can fully understand and appreciate. If you fail, it’s your loss, Read More