If you build it… they will come is an exceedingly common expectation of naïve, first-time entrepreneurs, who have yet to learn the “real world” difficulties of finding and selling to customers. Similarly, for funding first-time startups too often entrepreneurs expect a good idea and 80 page business plan is sufficient for an investor to invest. I call this erroneous expectation, If you think it…...
Sometimes others take the words right out of my mouth…
Last week, blogger Michael S. Malone asked the question, What is “The Purpose of Silicon Valley“? Seems quite a pertinent question to those of us who have left the world of tech to embrace the world of conscious companies, where our startups are truly changing the world.
Read the whole story on MIT’s Technology Review.
Nobel prizes have been awarded for the idea that the market is rational. Clearly, none of those economists or award judges have ever dealt with early-stage private equity, a.k.a. startup investing. That is the most obscenely irrational, inefficient market that I’ve ever dealt with. In that market, I wear multiple hats, and sit on all sides of the table. I’m a professional investor as at Fledge...
It is application season once again at Fledge, and with it, dozens of repeats of a very common first-time entrepreneurial mistake. A grand vision with multiple components, which as a whole, all implemented, all popular, would solve some problem or simply make people’s lives better. To the ears of the entrepreneur, it sounds wonderful. To anyone who doesn’t review hundreds of business plans each...
