Keep on the lookout for novel ideas that others have used successfully. Your idea has to be original only in its adaptation to the problem you're working on.Thomas Edison
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MJ Startup Advice Rants
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daraddishman
    Member since: Apr 8, 2008 Rank: Warrior (123 Posts) |
[Quote Member] |
I think it is a fantastic little blurb on valuation and fund raising.
The startup that I just finished with ( on sabbatical while it restructures ) had a terrible time dealing with pitching and fund raising. In retrospect there are a ton of things we would have done different, and this little clip is talking about some of the problems we had. We had to learn everything the fun way, by failure and mistakes!
Our big issue wasn't that we didn't know how much money we needed, or what stake in the company we were giving up. Our problems were related to the next definable risk mitigation point. ( I am still a little hazy on this to be honest ).
I think this gives some awesome fast tips for people looking into starting down the money raising road.
I definitely get the vibe from the first couple days here on CH that the entrepreneur's need to be prodded a bit into hanging out here. I wonder if that is because so many entrepreneur's like to see their own ideas get big... hmmm...
Maybe the CHU needs to turn into entrepreneur school!
Consider it dug.
The startup that I just finished with ( on sabbatical while it restructures ) had a terrible time dealing with pitching and fund raising. In retrospect there are a ton of things we would have done different, and this little clip is talking about some of the problems we had. We had to learn everything the fun way, by failure and mistakes!
Our big issue wasn't that we didn't know how much money we needed, or what stake in the company we were giving up. Our problems were related to the next definable risk mitigation point. ( I am still a little hazy on this to be honest ).
I think this gives some awesome fast tips for people looking into starting down the money raising road.
I definitely get the vibe from the first couple days here on CH that the entrepreneur's need to be prodded a bit into hanging out here. I wonder if that is because so many entrepreneur's like to see their own ideas get big... hmmm...
Maybe the CHU needs to turn into entrepreneur school!
Consider it dug.
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GordonMcDowell
Member since: Aug 15, 2006 Rank: Viking King (919 Posts) |
[Quote Member] |
daraddishman,
While I think I have a good notion of how to defined "next definitive risk reduction point" i'll try pull MJ into this so we have have it further articulated in the same voice.
So if there's other questions along those lines... we're going to try pump out similar content, but we can also try branch off into tangents if that makes the material more valuable.
While I think I have a good notion of how to defined "next definitive risk reduction point" i'll try pull MJ into this so we have have it further articulated in the same voice.
So if there's other questions along those lines... we're going to try pump out similar content, but we can also try branch off into tangents if that makes the material more valuable.
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GroundLoad
Member since: Oct 17, 2007 Rank: Viking King (545 Posts) |
[Quote Member] |
Very educational stuff here. I'd like to ask some of the other users if its helpful hearing it from a known source over reading it from a book ?
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siddey
Member since: Oct 14, 2006 Rank: Chief (408 Posts) |
[Quote Member] |
I liked it. Unlike a book you don't need to read 300 pages to find out the most salient points when covering topics like this.
Sure you'd probably still read a book but if you hear similar messages reinforced from a familiar face it helps to sort the crap from good advice.
How about some advice on how to establish contact with the right investors and how best to pitch your business if you don't have a rockstar as an executive?
Also, sometimes the US centric nature of a lot of the VC discussions makes it difficult to figure out whether the approach new businesses should take is consistent across the globe. For instance, do US investors have similar objectives and attitudes to those in Australia?
Sure you'd probably still read a book but if you hear similar messages reinforced from a familiar face it helps to sort the crap from good advice.
How about some advice on how to establish contact with the right investors and how best to pitch your business if you don't have a rockstar as an executive?
Also, sometimes the US centric nature of a lot of the VC discussions makes it difficult to figure out whether the approach new businesses should take is consistent across the globe. For instance, do US investors have similar objectives and attitudes to those in Australia?
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GordonMcDowell
Member since: Aug 15, 2006 Rank: Viking King (919 Posts) |
[Quote Member] |
I don't want to fragment this thread of questions we can bounce back to MJ, so I'll just post the additional clips here too (and rename the thread from "MJ Rant: Frustrate Investors - The Easy Way!" to "MJ Startup Rants".
I'll review it with him again and get a clear answer.
Any follow up questions to MJ's material I'll still cover them with MJ and either tape responses or write summaries under here.
I'll post here when I've got a response to that too.
The Queen requests that you upgrade your version of Flash Player to view this video!
daraddishman, I tried to get MJ to clarify RISK MITIGATION POINTS, and the result was a terrible mess. When MJ had a sliver of time, my wife was picking me up for doctors appointment in 10 minutes. And... Blue was yelling this crazy conversation across the room in the background. It could very well be the worst piece of footage ever.I'll review it with him again and get a clear answer.
Any follow up questions to MJ's material I'll still cover them with MJ and either tape responses or write summaries under here.
Siddy~
How about some advice on how to establish contact with the right investors and how best to pitch your business if you don't have a rockstar as an executive?
Also, sometimes the US centric nature of a lot of the VC discussions makes it difficult to figure out whether the approach new businesses should take is consistent across the globe. For instance, do US investors have similar objectives and attitudes to those in Australia?
I'll post here when I've got a response to that too.
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daraddishman
Member since: Apr 8, 2008 Rank: Warrior (123 Posts) |
[Quote Member] |
Worst footage ever! AWESOME!! 
Thanks for asking MJ about risk mitigation points. When we were trying to get funding about a year ago we had ours set in terms of technology stages, like protype, alpha, beta, greenlit, gold, launched. ( We were building a video game ). It seemed to make investors eyes glaze over...a lot. We then tried talking about funding rounds, Seed/F3/First/Second and that seemed a bit better, at least the investors seemed to understand better. In the end even were were a bit muddy on it...
As to VCs in countries other than the USA, I know that VC up here in Canada is... hmm... lack luster is a polite way of saying it.
Thanks for asking MJ about risk mitigation points. When we were trying to get funding about a year ago we had ours set in terms of technology stages, like protype, alpha, beta, greenlit, gold, launched. ( We were building a video game ). It seemed to make investors eyes glaze over...a lot. We then tried talking about funding rounds, Seed/F3/First/Second and that seemed a bit better, at least the investors seemed to understand better. In the end even were were a bit muddy on it...
As to VCs in countries other than the USA, I know that VC up here in Canada is... hmm... lack luster is a polite way of saying it.
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Magickaito
Member since: Nov 13, 2007 Rank: Warrior (130 Posts) |
[Quote Member] |
One suggestion and one question to CH:
1. SUGGESTION
Since MJ talks v fast, should there be some text on the screen to guide the viewer? At least a title about what's the main point to be expected? and SOME PAUSES will be great!
2. QUESTION
Many CH members will like these Educational contents about starting up a company, I think! Since we have many people with ideas but no time to implement, or no technical developers to help to implement! Will these educational contents related to startup draw in more members like what we have now and yet we still face an ultimate problem - no developers at the end?
In contrast, I mean if the educational content is technical discussion about Joomla, for example, some people already knows Joomla might fall into this land by searching about joomla and they can realize "wow, I think I can use my Joomla skill to help this idea!"...?
Afterall, I am sure startup related contents will still help to educate the "idea submitters" and keep them in this land...
1. SUGGESTION
Since MJ talks v fast, should there be some text on the screen to guide the viewer? At least a title about what's the main point to be expected? and SOME PAUSES will be great!
2. QUESTION
Many CH members will like these Educational contents about starting up a company, I think! Since we have many people with ideas but no time to implement, or no technical developers to help to implement! Will these educational contents related to startup draw in more members like what we have now and yet we still face an ultimate problem - no developers at the end?
In contrast, I mean if the educational content is technical discussion about Joomla, for example, some people already knows Joomla might fall into this land by searching about joomla and they can realize "wow, I think I can use my Joomla skill to help this idea!"...?
Afterall, I am sure startup related contents will still help to educate the "idea submitters" and keep them in this land...
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GordonMcDowell
Member since: Aug 15, 2006 Rank: Viking King (919 Posts) |
[Quote Member] |
Magickaito ~ 1. SUGGESTION
Since MJ talks v fast, should there be some text on the screen to guide the viewer? At least a title about what's the main point to be expected? and SOME PAUSES will be great!
Mjtalksfastandhedoesntpausesilentlybetweenwordshem
akessounds. Illtryfeedhimsomevaliumbeforethenextshoot.
Magickaito ~ 2. QUESTION
Many CH members will like these Educational contents about starting up a company, I think! Since we have many people with ideas but no time to implement, or no technical developers to help to implement! Will these educational contents related to startup draw in more members like what we have now and yet we still face an ultimate problem - no developers at the end?
In contrast, I mean if the educational content is technical discussion about Joomla, for example, some people already knows Joomla might fall into this land by searching about joomla and they can realize "wow, I think I can use my Joomla skill to help this idea!"...?
Technical pieces (like on turn-key joomla or drupal) I do want to do, but I don't have anything shot yet. Basically I need to line up a solution with a project and then document how its applied.
As for finding developers, I could document recommendations how to use CH bazaar more effectively, but I think ultimately we need to move beyond that. I've got a listing in Bazaar now, and I'll certainly document any learnings I have with that. But I believe ultimately we have to document how a contract work process outside of CH confines would work. I've never done that so whatever I learn I'll document.
But both technology and outsourcing processes won't be documented very soon. The pipeline for educational (startup) content is still being thought out (with your feedbacks in mind).
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Kevin_Cox
Member since: Oct 14, 2006 Rank: Viking King (555 Posts) |
[Quote Member] |
MJ is the next zeropunctuation for startup company videos:
http://www.escapistm...ials/zeropunctuation
I liked the videos a lot, they all seem very top notch.
http://www.escapistm...ials/zeropunctuation
I liked the videos a lot, they all seem very top notch.
- Ideas Submitted
- 7196
3 weeks ago (gee... that is a long time) we dropped a hint MJ had some ranting to do, and here's a chunk of it.
The Queen requests that you upgrade your version of Flash Player to view this video!
We're trying to make it as tight as possible. CCOZAD helped by writing the blog copy.
Open for feedback on this. You think its the best way to present it? Opening sequence induces too much motion sickness? Should the video go above the blog copy (and if so how could the copy have been structured differently to allow that)?
AND... if we keep going with this model, is it of any value to you as a community member?
We're also looking to draw in more entrepreneurial community members with it, so if you'd care to help promote, please DIGG:
http://digg.com/busi...vestors_the_easy_way
Posted: April 11, 2008, 5:29 pm