Do You Have To Put Your Own Money Into Your Startup?
We needed to raise money, lots and lots of money, right of the gate. The money we needed to raise ($11M) wasn’t the kind of money that most people have laying around. I sure didn’t. But there’s the reality that even if you need lots of money, you’re going to end up putting your own…
What Should You Do To Save Your Business When It Falters?
“It’s even worse than I thought it would be,” I told Steve. “Everything is completely broken. Revenue is cratering. Product quality is horrible. The strategy sucks. And I think the team needs be completely replaced…. “Besides that, everything’s great,” I laughed. I had taken over one of three divisions the company had three months prior.…
What Are The Seven Keys For You To Effectively Delegate?
I read a really great book called, “The Fish That The Whale.” The book is about the life of entrepreneur Sam Zemurray. The book is a great and entertaining read, and it is packed with lessons for entrepreneurs. Zemurray, also known as “Sam, the Banana Man,” was the founder and CEO of Cuyamel Fruit Company…
How Should You Finance Your Startup?
One of the investors in my company described equity as “fuel” for growth and debt as a “retardant” to growth. I don’t think I agree with him. I think the right answer is more about what’s right for you and your company. There is a better way to look at what’s right for you. I’ll…
What’s The Right Way You Should Do Reference Checks?
“What am I likely to hear about you from the people I talk to about you?” That’s was the standard question I asked potential candidates BEFORE I would do front door and backdoor reference checks. Then I would listen to hear what came back from the candidate. [Do you want to grow your business? Maybe I…
Should You Be Worried About The Economy Tanking As A Startup CEO?
The short answer is yes. Yes, you should be worried about the economy tanking. We’ve seen the stocks lose significant value over the past couple of days. Now, stock prices and the economy is not the same thing. The economy can keep growing when stock prices reduce. I don’t have crystal ball, and I don’t…
When Do You Decide To Fire An Underperforming Employee?
I have a perfect record when it comes to saving underperforming employees. That’s right, I am 100% successful in not turning an employees performance around. Except for this one time… The company I was working for had just acquired another company, and I was given the responsibility of running this new division. I was fortunate…
The One Key Strategy You Can’t Afford To Forget As An Entrepreneur?
“Sex sells,” I told Gill when we pitched him for the first time, “except in the Analog IC business.” Gill nodded his head in agreement. And four meetings later he gave us a term sheet for $11M. If only the rest of the investing community was as easy to convince as Gill… [Do you want…
How Much Should You Share With Your Significant Other About The Craziness Of Being CEO?
How Much Should You Share With Your Significant Other About The Craziness Of Being CEO? By Brett Fox Being an entrepreneur can suck. Being the significant other of an entrepreneur can really suck. As an entrepreneur, you are living the roller coaster every day. The swings from euphoria to sadness are there every day. Every…
How Can You Make Sure You’re Hiring A Players, Not C Players?
You know, there’s the old saying that “A players hire other A players, and B players hire C players.” And if only it was that easy because most people think they are A players. The reality is that you should be looking at various data points to determine who is an A player. Here are…