Archive for December, 2010

Top Ten 2010

By Frank | Filed in Commentary/Opinion

As the year winds down I’ve been reflecting on my favorite memories, mostly positive, but a few rants, too.

at the Blue Mosque10. Istanbul with EBAN, where I was the master of ceremonies for their Gala Awards Dinner. EBAN, the European Business Angel Network, knows how to party! After the communal bus ride, (which always has a memorable new friend in store; I guess I should ride the bus here at home, too,) then we’re on a boat cruise up the Bosphorus to dinner in a ruin turned restaurant. What a thrill to have the spotlight for the 5 awards! Later John May whispered, “it’ll be hard to beat this gig!”

9. Ultimate exposure: Top 10 Lies Angels Tell. Guy Kawasaki put me up to it! Well, kinda. He wrote memorable top 10 lies of both VCs and entrepreneurs, so it felt like there was a gap in the fabric of early-stage investing I had to fill. My essay/rant was picked up at socalTECH where it ran ‘above the fold’ for 6 weeks, coverage to die for. Then the Canadians published it in their newsletter which travels to all four corners of the globe. Funny though, no one at Tech Coast Angels had a word to say about it.

8. Most overused term: pivot. Am I the last person on earth to hear this term? I heard it used by a
panel in Montreal at the Annual Canadian Angel Summit. It’s used to
describe the ‘transformation’ a startup often goes through as they
refine their strategy; hopefully before investors pour in their cash.
Now, it’s pivot, pivot, pivot everywhere I turn. What’s an overused
term’s half-life? I think we’ll be hearing this tossed around for a long
while.

7. Spin: too much good news

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Danny Robonson
“It’s not about the idea… forget the idea.”

All startups begin with an idea. Many times that initial concept transforms into a new focus, hopefully before investors pour in lots of cash. This is how accelerators can assist both entrepreneurs and early-stage investors, they shake out the bugs and get the business focused on a refined target.

Meet Danny Robinson, founder of Vancouver’s Bootup Labs, what he calls “a seed accelerator”.

Why does he require 2 person teams? And where does he raise the $100K that’s invested into each of the companies?

Other cities and some real estate developers want to clone Bootup Labs, but what’s the real secret sauce that’s hard to duplicate?

Show #317 (35:13) Listen

Register for the NW Regional Angel Meeting Feb 3-4, 2011 in Seattle.

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It started as a social gathering, just me and a few angel pals.

Then I invited a couple of interesting entrepreneurs, to keep things lively.

Then the group expanded again; I had a friend out of work and suitable for managing the software side of an internet startup. We were having fun, being sociable and helping each other. Now I’m expanding the group again.
Join us.

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Boris Revsin and Ryan Durkin

If you only had $20 for marketing what would you do?

If you’re hungry and motivated, you’ll find something novel; in their case it quickly led to 15,000 new users.

Like other great applications, this one started on campus at UMASS Amherst where entrepreneurs Boris Revsin and Ryan Durkin have created CampusLive, a tool that many students use as their home page. “They use it to meet other students on campus, for study groups and parties,” says Boris. But these guys are all business, “we’ve been generating revenue from day one”.

They’ve moved to Boston because that’s where expansion lies with about 16 target colleges and universities. That’s where the ecosystem for startups is, too, which they’ll need as they manage 30 interns while building the product.

Thanks to Paul Silva at the Entrepreneurship Initiative for hosting me.

Show #316 (24:02) Listen

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Lou Doctor
Have you bought your sporting goods from this man?

He operates a number of successful eCommerce sites today, but it all started without a business plan; instead it was an “accidental opportunity”. Lou Doctor‘s retail operation has 30 employees servicing online stores for billiards, darts, golf clubs, pool cues and bicycle gear.

What advantages does BikeTiresDirect.com have over a traditional bike store?

Will he ever open a bricks ‘n mortar retail site?
PoolCues.com

And what are the advantages of running this growing enterprise from Portland versus Palo Alto where it began?

Velotech's Portland warehouse

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the Scout statue overlooks Kansas City
Let’s encourage the Angel Capital Association to leave Kansas City.

A little background… I was on a focus-group call yesterday; Jamie Rhodes from the Central Texas Angel Network facilitated and several angel group leaders participated. The topic: as ACA attracts more sponsors, what would the member angel groups find attractive in a national sponsor?
I signed up for the call after the very successful Leadership Workshop in Philadelphia last month. That’s when I heard more about ACA losing its Kauffman Foundation funding. They didn’t do anything bad, the grant was only for a specified term that’s ending.

So what did we focus groupies wish for in new sponsors? There wasn’t much consensus; after Angelsoft, what is there to wish for? I mean, there’s little an angel group can’t find from a local law firm sponsor.

“Were there any other issues?” Jamie attempted to wrap up. I’d been rehearsing my suggestion for days: since the Kansas City based Kauffman Foundation is no longer the golden goose, let’s move ACA to Palo Alto, Boston, Seattle, heck even Texas would offer more!

Without cross-town schmoozing at Kauffman there’s nothing else to recommend KC. I turned the knife, “could you pick a worse city?”.

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