Has Your Startup Been funded? Here’s How to Keep The Money Coming

Has Your Startup Been funded? Here’s How to Keep The Money Coming

  Look how far you’ve come. Despite the ups and downs, twists and turns of the entrepreneurial journey, you’ve developed your innovation, raised initial funding and put your product/service on the market. Now, you’re seeking a second round of investment. Let’s be brutally honest here, shall we? “Your job as an entrepreneur is not to raise money but to run a company”, said Paul Singh, investor and founder of Results Junkies. Singh recently participated in a panel at Co+Hoots, talking about how entrepreneurs can get more funding. The major constrain on entrepreneurs’ success is not the quality of their product or service, the intellectual property that protects it, or the lack of funding, but rather their inability to leverage their powers and gain traction. If you want to raise capital on your own, Singh’s advice is to prepare and be ready to have 500 meetings with investors in one week. Spending more time chasing the money would be a waste of your time. Singh explained, that the opportunities investors are looking to fund are the opportunities they are chasing. Not the other way around. The more you have to chase investors, the worse the deal. If investors are not returning your emails or phone calls, ask yourself what’s wrong with how you framed your opportunity, not what’s wrong with the investors. Lead With Traction If you are seeking additional funding for your venture, you have traction: customers, users, pre-orders, whatever the case may be. Edward Pizzarello, angel investor and serial entrepreneur, who was also a panelist at the Co+Hoots event said that when investors meet with founders, they hear all...
The Next Years Will Be the Years of China Tech

The Next Years Will Be the Years of China Tech

View story at Medium.com   As you may probably know, China is one of the most active markets in tech right now. But for most people, “don’t forget about China” is the anecdotic address you hear from that guy who just wants to show off. They have built their reputation on their capacity to clone American products, but it is wrong to think that they are only defined by that. Read the article on...
When Crisis Created an Opportunity for Arizona Startup Ecosystem

When Crisis Created an Opportunity for Arizona Startup Ecosystem

There is no doubt that Phoenix is rising and can become a hub for innovation. Traditionally most investments in Arizona have been real estate based and have undeniably shaped the state’s economic development policies. Risk adverse, these investors have long been distrustful of high-risk tech ventures. Despite the lack of local funds available at the time, and the 2008/2009 economic crisis, over the past ten years, the Phoenix entrepreneurial scene has built itself from the ground up. From native tech companies, like InfusionSoft, making it big, to ASU Entrepreneurship + Innovation programs, to CO+HOOTS recently named the ?1 most innovative co-working space in the U.S., to PHX Startup Week, the #yesphx community, and many other participants, all the pieces of the puzzle slowly but surely are starting to come together. Where are we now? Over 6,000 attendees attended the third edition of PHX Startup Week held in February of this year, Over two dozen incubators and co-working spaces. Mounting numbers of local and regional pitch competitions such as novel ASU Innovation Open. Rising number of angel funds including the latest addition, Arizona Founders Fund. Pit stop for DC-based VC tours like Rise of the Rest and Results Junkies Yet just a little over $200 million of VC investments for Arizona startups in 2016. It sounds that what may have been lost in the hype is how sustainable the Phoenix ecosystem really is. How do we build a unique and sustainable ecosystem? In biology, per the Convention on Biological Diversity, (CBD), signed by almost 200 nations, an ecosystem has the following definition: “Ecosystem” means a dynamic complex of plant, animal and...
Shaping the Future: From What’s Now to What’s Next

Shaping the Future: From What’s Now to What’s Next

If you missed part 1 and 2, see From MVP to VC: Strategic Non-Starters and How to Avoid Them (part 1) and Don’t Tell Me About The Labor Pains, Show Me the Baby (part 2)   Shaping the Future: From What’s Now to What’s Next   You start a business because you see a gap and/or figure out a better way to do something. You build your MVP which has just enough feature to be functional. That’s the now. When seeking investment capital to fund your startup, you are focused on securing the money to make that ‘now’ happen. But what’s next? Depending on your industry, investors will expect their pay back within the next 3 to 5 years. How do you ensure that your shiny and magical solution of today will not only be relevant but innovative in the next 3 to 5 years and beyond?   Looking at industry trends and forecast, as well as constant technological advancements, what skill set do you need to acquire tomorrow? In which new ways will you deliver your solution tomorrow? If you still don’t see yourself as a tech company, think again!     Investors want to know how you will sustain your competitive edge. As we speak, there is someone out there that wants to eat your lunch tomorrow! Maybe they are not in your geographical area. Maybe they are not yet on the market but have already secured funding to deliver tomorrow’s solution today. A great way to understand what tomorrow’s competitive landscape will look like is to read news reports from investors such as Gust, PitchBook, and CB Insights....
Freshbooks Survey Finds Majority of Self-Employed Professionals Have No Intention of Returning To Traditional Employment

Freshbooks Survey Finds Majority of Self-Employed Professionals Have No Intention of Returning To Traditional Employment

FreshBooks Survey Finds Majority of Self-Employed Professionals Have No Intention of Returning to Traditional Employment FreshBooks, the #1 accounting software solution in the cloud for self-employed professionals and their teams, today unveiled a new survey that shines a light on the challenges, trade-offs, and mindset of small business...