Browsed by
Tag: #Startups

Is It Time to Pivot?

Is It Time to Pivot?

Comments 0 Comment
Image by Marcin from Pixabay

Almost all startups pivot at some point. This we know. Since many people consider a new year a new/clean slate as well and a good time to reflect on where you’ve been/where you’re going, we decided it’s a good time to talk about the pivot.

We recently hosted an investor at one of our Online Insights who mentioned a unicorn exit from one of their portfolio companies. We  knew the founder. Very sharp guy who had majorly pivoted not long after said investor’s fund had invested in them. One of the partners had spoken at our Insights not long after the pivot and was livid: this was not what he had invested in.

Well, how often do investors mention that the ‘team’ is one of their top considerations when it comes to deciding to whom to write the check? Just a few short years following the pivot, the company had a serious unicorn exit. The founder also happened to be something of a subject matter expert, rethought the approach, did a major change of direction – and did we mention the company had a serious unicorn exit? Apologies, but we have learned from experience that one of the major always unnamed problems when it comes to why startups fail is that founders don’t listen. Read More...

Why Preparedness Matters

Why Preparedness Matters

Comments 0 Comment

There was a time when penny loafers were very popular, especially for school children. The shoes had a slot up top in each, into which perfectly fit a penny, and many children actually did insert a pennies. Of course, was also once such a thing a candies and gum balls which also cost a penny, so if perchance you were passing a store that did sell penny candies, you were prepared.

True story: we once knew a guy named Kurt had worn penny loafers ever since his mother had gotten him his very first pair upon entering kindergarten. Much to her chagrin, Kurt insisted on placing dimes into the slots. Why should she fork over dimes instead of pennies to a child who didn’t understand the value of money, but little Kurt was adamant. His mother had drilled it into him that he should always be prepared, and since he was not a big fan of candy – what to speak of the fact that penny candy had gone the way of the dodo – where would a penny get him despite the somewhat eponymously named shoes, but in those days, public telephones abounded and cost to make a call? Ten cents. Even little Kurt knew that, having witnessed his mother using said phones. At least with dimes, he reasoned, he’d be prepared for something. Exasperated, she gave in.

Penny loafers eventually went out of style with seemingly everyone but Kurt, who wore them into adulthood and continued to place dimes in the inserts of each new pair. To place a call from a public phone was still ten cents, and one just never knew… Read More...

Meet the New Club. Not the Same as the Old Club

Meet the New Club. Not the Same as the Old Club

Comments 0 Comment

 

It isn’t often that a newco launches that fairly quickly captures unicorn-level attention the way that Clubhouse has. The audio-only social network, which has amassed 2M+ users and $100M in funding in just under a year after launch, seems to have raised the bar by lowering the barrier to participation, meaning, that in most rooms, anyone can raise their hand and, in most cases (depending on the moderator), participate in the discussion. It’s still in beta, so it’s currently iPhone only and invitation only: patience.

“If you could plug into a live conversation about a topic, you’re passionate about, on demand, anywhere in the world, and have an opportunity to not only listen to some of the smartest people on the subject, but also participate with them, would you?” asked Brian Solis in Forbes (The Latest Silicon Valley Unicorn, Clubhouse Raises $100 Million And Also Raises Attention To The Importance Of Audio-Based Social Networking). “…it represents an unquenchable thirst for meaningful community and engagement, especially in light of the chaos and devastation that played out in the forms of disinformation, political theater, and divisiveness across other social networks.” Read More...

Where Founder Pitches Go Wrong

Where Founder Pitches Go Wrong

Comments 0 Comment

Heads up! This is a great time to start a company. According to NPR, there’s an Unexpected Boom In Startups. “Most of these new businesses are seizing opportunities created by the weird coronavirus economy — an economy where people don’t really want to do stuff face-to-face anymore… Economists have a term for this…”creative destruction.”… Harvard University economist Joseph Schumpeter… described it as a process of “industrial mutation … that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one.” He placed it at the center of capitalism, arguing that it was a force that made capitalism much more innovative than socialism.”

We know that many of you are working on newcos. We hear this from you all the time and our online investor breakfasts are certainly proof of it: everyone briefly pitches and everyone has a newco. We receive your decks and executive summaries and, since we do investor breakfasts semi-monthly, we must know all of the investors (we do know literally hundreds of them), so we’re often asked can we please send out your enclosed deck to the investors for whom we feel it might be appropriate? Happy to! But we get paid for our time. Read More...

Invaluable Lessons Startups Can Learn from Trader Joe’s, a Food Retailer Who Created a Whole New Category

Invaluable Lessons Startups Can Learn from Trader Joe’s, a Food Retailer Who Created a Whole New Category

Comments 0 Comment

Ah, Trader Joe’s!

Ever notice the lines at TJ’s? We’re not talking about the ones at check-out. We’re talking about the ones that often spiral around the block, just to get into the store. You’d think that there was a celebrity inside perusing the avocados. Read More...