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Nov25
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Entrepreneurs are idea people. :) But, not all ideas are created equally. I just read a post by Brock Blake, of Funding Universe, called "Idea That Is Scalable". In the post, he says that when VCs evaluate an entrepreneur's idea, they look for the proportion between amount of investment capital, percent of ROI possible, and the time it should take to exit.
He also mentions the difference between a "lifestyle" idea versus a fundable idea. The main difference being that a lifestyle business will cover the owner's financial needs, but the other will provide ROI that justifies a VC's expense.
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Nov25
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Imagine hiring an architect/contractor to build an expensive mansion. You've had good recommendations on this person, and are ready to move forward. The construction team shows up to start working on the house. "Mind if I look at the plan?"...
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Nov24
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Forget Juilliard. The American Ballet Theatre. You want creativity? Try entrepreneurship. Here's an awesome quote from a post called "Creativity Loves Constraints," on the Cambrian House blog: "Similarly, working at a startup, there are constraints everywhere. We face tight deadlines,...
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Just kidding. Of course they're important! More like vital. Essential. Your business will close down without them. Interestingly, I've watched companies with approaches towards sales that nearly thwart the laws of gravity. One company hadn't had a sale in a...
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Which is more likely to happen: Situation 1. An entrepreneur wants to start a business, so they think of an idea.Situation 2. Someone has an idea, wants to start a business, and then becomes an entrepreneur. I've often seen innovation-oriented...
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Nov22
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What's the fastest that a new company can make a profit? I've been curious lately about this. You hear often about how launches get delayed, funding is delayed, product development takes longer than anticipated... so I'm wondering, what are...
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Nov21
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Looking for funding for your startup? Why not make it fun?
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Nov20
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If you haven't yet seen BlendTec's amazing YouTube video marketing campaign, stop reading this blog post and go check out their videos.Basically, this video series shows off the capabilities of an industrial-strength blender. Ho hum, right?Not really. In fact, the...
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Nov17
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Startups can really be the proverbial "bull in the china shop" of the business world. There are things that should be done a certain way, but aren't. Rules of business get broken. Normal working conditions and HR policies get thrown...
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Nov16
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It's probably not an epiphany to you, but this week, I have just realized that marketing and sales are fundamentally different. Related, yes. Crucial to the success of the startup, yes. Utilize the same skillset/type of employee to accomplish? Perhaps...
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Nov15
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There's a lot of wisdom and advice out there for entrepreneurs... Unfortunately, these advice statements often conflict. Ever heard any of these? Startups are unstable. Get a real job. There's no stability in the workplace, so starting your own company...
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Nov14
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As owner, you're the first employee to arrive, the last to leave, and oh yes, definitely the last to be paid. You're the department of customer service, marketing, product development, sales, finance, and anything else that needs to be done....
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There's a lot of great business resources out there. That's the problem, isn't it? Too many books to read, speakers to hear, blogposts to check out (hint, hint).So, what are the goodies? Let's start with books for now. Here's three...
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Nov13
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Imagine an all-star employee standing by the side of the road with a cardboard sign that reads "Will Work For Equity". Yeah, sure. Fabulous employees know they how valuable they are, and they're only looking for established companies with sky-high...
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Nov10
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After attending a lecture series by local Utah entrepreneurs for several weeks, I’m convinced that there’s an echo in the building. That is, I keep hearing the same things at each lecture. All of the speakers have said that becoming...
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Nov 9
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If entrepreneurship weren't so power-packed with risk, wouldn't everyone quit their day job and start a business? So, what are the risks, and of them, which is the biggest?FinancesThe first and most obvious. People work in order to bring home...
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Nov 8
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Ever asked yourself, “Why am I an entrepreneur?” There are infinitely more ways to earn a living, and most of them include less stress and more consistent paychecks. If I had to choose between two steady jobs, one I disliked,...
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