Blogs

They say they like your product - but in the end, they won't use it.

Mon, 09/06/2010 - 17:06 — Steve Morris

It happens again and again. The aspiring entrepreneur comes up with a truly great idea. He or she first shares it with friends and family, and they all love it. Then, somewhat emboldened, our entrepreneur shares the idea with a few prospective customers. And then a few more.

Are You Smarter than an Attorney?

Fri, 03/26/2010 - 10:14 — Steve Morris

Find out on March 30, 4pm, at OTBC, when we'll pose questions about common start-up legal issues, and compare your answers with the answers of two Perkins Coie attorneys, Neil Nathanson and Jeff Bock. Learn more and register at this link.

Steve Morris's blog

Angel Groups get Tougher

Tue, 02/09/2010 - 08:31 — Steve Morris

A Business Week post by Scott Shane with Case Western Reserve University describes his research that shows how angel groups' deal funnel got tougher from 2007 to 2009. When entrepreneurs apply to a venture group, there's an initial screening that weeks out many, followed by a pitch, then more due diligence, and then, for a few, an investment. At each stage, companies are weeded out.

Why do entrepreneurs flock to loudmouths as mentors?

Sun, 01/31/2010 - 18:54 — Steve Morris

A recent Venture Beat post from Will Herman raises a question that has crossed my mind more than once: Why do entrepreneurs flock to loudmouths as mentors? A worthwhile question to consider if you're starting a company. I agree with Will's suggestions: recognize that you're your only savior, access many mentors, and learn about what each prospective mentor has actually done.

Ask the Attorney: What issues do I need to consider when forming a start-up?

Sat, 01/30/2010 - 18:47 — Steve Morris

A Venture Beat post, Ask the Attorney: What issues do I need to consider when forming a start-up? has a good summary of the issues that founders should be thinking about very early on. At OTBC, we frequently see start-ups making mistakes relating to these subjects - mistakes that may not be fatal, but that take a lot of time and effort (and pain) to go back and fix. These are important!

How To Calculate A Return On Investment

Fri, 01/29/2010 - 12:44 — Steve Morris

In a recent post "A VC" Fred Wilson explains How To Calculate A Return On Investment - because he has seen multiple cases of financial projections from entrepreneurs who don't quite understand ROI. As Fred points out "You don't need to get a finance MBA to be able to do this kind of thing." Read his post, and you'll be one of those who gets it.

Steve Morris's blog

What does it Take to be a Venture-Fundable Entrepreneur?

Fri, 01/29/2010 - 12:19 — Steve Morris

At OTBC, we meet with a lot of entrepreneurs who want to raise venture capital to fund their idea. If they haven't raised venture capital before, they tend to underestimate how difficult it is and how long it takes. One way to increase the odds of getting funded is to understand what VCs look for in an entrepreneur.

Three Words (times 50) of Advice for Entrepreneurs

Thu, 01/28/2010 - 20:09 — Steve Morris

Dharmesh Shah published a great post with 50 Three-word phrases that can make your start-up a success. And I agree with (almost) all of them. The only one that makes me a little nervous is the one about "avoid business plans". But I actually believe in effective business planning more than business plans (I've seen a lot of bad business plans that clearly were not the result of good planning...), so I can even go along with that one.

The reasonable man adapts himself to the world

Thu, 01/28/2010 - 19:14 — Steve Morris

You may recognize the George Bernard Shaw quote. The rest of it is: the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man.

From WSJ.com: Venture Capital Dispatch Turning Unreasonable Ideas Into Reality

Needs versus Wants

Thu, 01/28/2010 - 18:47 — Steve Morris

I've often heard it said (and for that matter, I've often said myself) that when starting a growth company (one that's likely to be looking for investment capital from angels or VCs) the entrepreneur's concept has to be compelling - not just a "want" but a "need" - a "must have" as opposed to a "nice to have". But I have to admit, I occasionally have second thoughts about "need" versus "want".

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