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February 26, 2006

LinkedIn

LinkedInThis is one of my favorite business tools. It's incredibly useful for finding business contacts. We were able to use it to find the right people to contact at Yahoo, eBay and other companies in order to find an acquisition partner for byownerdaily.com. I suggest joining to everyone I know, whether it's for the potential of finding the right job, or having it find you, or due diligence, capital sources, team building etc.


Posted by bizfund at 11:44 AM | Comments (0)

February 01, 2006

Private Money for Real Estate

Private Money Lenders This is a useful audio file about raising capital from private lenders for real estate investing. It's kind of long but it's quite realistic and instructive.

Posted by bizfund at 07:09 PM | Comments (0)

Funding Mistakes

Fatal Funding Mistakes For Startups This article covers some interesting points relating to mistakes that companies often make when seeking early-stage financing. I think the "Wrong Investors" section is poorly titled. It asks questions that are not answered with advice and it also reinforces irrational fear of idea-stealing that most beginning entrepreneurs have. I thought it was interesting to see the contrast of the advice to not worry about NDAs with this fear of idea-stealing.

Now that I've mentioned idea-stealing... it's an area that I think is super important in the mind of the beginning entrepreneur. I think that Guy Kawasaki of Garage Technology Ventures, www.garage.com, makes a valid argument that it really all comes down to execution. How well can you and your team implement this idea? If you can implement then you will win, especially if your idea is authentic to you and your team. The value of having an authentic idea is that you can see where the roots are and where the branches will likely lead. The founders of successful companies often seem to have quite a vision that plays out over time, morphing the original idea naturally as the company grows, enabling the growth with the change but rarely abandoning the underlying premise. Competitors and me-too shops will always copy successful strategies to the extent that they can. The authentic long vision will get you where you want to go regardless. So don't waste energy worrying about who is going to see what you are doing and if they might steal it, focus on beating everyone to market and staying ahead of them once they are there.

I have to also say that it doesn't make sense to give away any more information than is necessary. I think that retaining some portions of the vision for yourself enables you to have an advantage when it comes to allowing yourself to share in the success of your company with investors, lenders and employees. If you know that you have an ace up your sleeve that will eventually allow you to double or triple revenues beyond the targets then you can feel more confident sharing ownership since the pie will be bigger than everyone else expects it to be.

Posted by bizfund at 11:37 AM | Comments (0)