Insights
What we’ve learned building companies.
Lessons from the businesses we’ve built with founders, and the ones that taught us the most.
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Future founders, do this before resigning.If you’re thinking about leaving your job to start your own company, STOP. There are things you can be doing now, in your spare time, that can give you a massive head start when you finally leave your job. Here are some obvious ones: Pick a name for your company and buy the URL. This can be a significant psychological step, not to mention a big time suck (we’re terrible at names!).Read the post →
Founders, what fundraising tricks are you missing?When I hear founders talking about how hard it is to raise capital, there’s often a caveat: “Of course, it’s almost impossible to raise funding when you’re [in hardware/in Europe/in Asia/medtech/deep tech/not deep tech/B2B/B2C/black/white/female/LGBTQ/old/young…]” Of course specifics make a huge…Read the post →
What do 2nd-time founders do that 1st-time founders don’t?Conversations with several founders over the last few days have reminded me of some key differences between first-time founders and those who’ve been there and done it before. Some of the obvious ones: First-time founders try to raise money to light a fire. Experienced founders raise money to pour fuel on one that’s already burning. First-time founders assume building software is like building a house.Read the post →
How to reward startup advisors – a framework.I’ve heard some horror stories of advisors who asked for (and sometimes received!) 10-20% of someone’s company, without delivering much at all. I also know an investor who committed the same startup funding as the two cofounders he was backing (they each invested $20,000). The terms? The investor received 20% of the company and would be paid back 100% of his money from company’s first revenue.Read the post →
Are the best entrepreneurs risk takers or risk averse?TLDR: There are solid examples of each, of course, but independent research indicated that risk averse founders, who remain in their day job while launching their business, are 33% less likely to fail.Read the post →
Advice for my kids after 20 years of startup life.Download our cheat sheet here: How-to-be-the-Best-Version-of-Yourself-Download.jpg After a profitable but unfulfilling career start in IT sales and then recruitment, I took a year out to travel the world. From Argentina I worked my way up through mid-South America, then flew to Mexico City before criss-crossing down Central America to Honduras. Advice #43 – See the World! One year soon turned into two.Read the post →
What to use for startup products: problem statements or user stories?What’s the difference between a problem statement and a user story? A problem statement is a concise description of a problem or issue that a product or service is intended to address. It is used to define the scope of the problem and to guide the development of a solution.Read the post →
15 startup lessons I wish I’d learned sooner.Over the last decade I’ve launched, advised, worked for and invested in nearly 100 early-stage technology businesses. Here are 15 lessons I’ve learned during that time. If I’d known these things sooner I’d be significantly better off than I am now!Read the post →
An MVP is not software.The markets are shocking at the moment, and there’s a lot of fear going around. If you think now is a good time to launch your own software company, here’s the biggest mistake you can make… Building software. What you need is a minimum viable product (MVP for the startup savvy), and no matter whatRead the post →
4 ways to go from idea to startup.Almost every day someone asks me to help them raise money for their brilliant idea. The answer is always the same. You can’t raise money for an idea. With only a few exceptions. Probably the most sensible way to launch a startup is to start it as a side hustle while staying employed. It’ll takeRead the post →
What should first-time founders know about shares and legal docs?If you haven’t set up a company before, you may not have thought about share types or legal documents. As a founder, you’ll need them both. Having sat on both sides of the table, as a founder and investor, here are some basics that I feel every new entrepreneur should be familiar with.Read the post →
Growth versus profit.Please note: none of the following is, or should be construed as financial advice, or advice of any kind. What’s happening with tech companies? “Big Short” investor, Michael Burry, tweeted in October that “ALL the silliness must go”.Read the post →