Here’s our weekly link roundup of small business buzz, musings and muchness. A curation of the best small business talk around the web.
“In the immortal words of Jay Z, ‘money ain’t a thang’. And what’s this got to do with startups?, I hear you ask. Well, more and more founders are telling me words to the same effect. Or, as they are more likely to put it, ‘Money is not the most important thing I need right now’.”
“Entrepreneurs should pay close attention to the equity in their company. It is a finite source and should be distributed with the utmost care. Your option pool will be critical in attracting top talent, so you will want those working with you incentivized accordingly.”
“Oh, the lies that entrepreneurs tell themselves. Even when all signs point to the contrary, it can be very easy to make up excuses for why your business isn’t succeeding. Here are some of the worst lies that entrepreneurs tell themselves, and the (sometimes) hard truths…”
“In Silicon Valley, tech startups typically build their businesses with help from cloud computing services — services that provide instant access to computing power via the internet — and Frenkiel’s startup, a San Francisco outfit called MemSQL, was no exception. It rented computing power from the granddaddy of cloud computing, Amazon.com.”
“We’ve all heard stories about entrepreneurs who launch blockbuster startups. But what about the person right behind them, the first employee they hire? The first employees at companies that go huge are a lot like those at any new firm. They put in long hours and take on a lot of different jobs to get the operation off the ground.”
“Always assume that you have no idea what your customers want. In 99.9 percent of cases, remember, the startup pivots and not the client. All you can hope to do is get close enough to what the customer wants so that they then notice you. If you look good and they ask you to dance, then you better be light on your toes or you will fall.”
“I often see articles by or about VCs and how they decide to fund or not fund certain companies; and many times, passion seems to come up as a deciding factor. VCs want to see how passionate the founders are about their products and see this passion as a significant factor in their funding decisions.”
“Some startups that fail initially look like they’ll be giant successes. That’s because they’re able to drum up a ton of traffic or users very quickly, and early adoption can be a sign of a lasting product. It’s also easiest to attract investors when a company is in hyper-growth mode.”
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