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“Sometimes your spidey sense is like, ‘I don’t know if either one of these are right,’ but you have to go somewhere. Spinning your wheels, being in neutral? That’s bad.”

When you hear Founders out in the media talking about their product, most of what you hear them talk about is all the things that went right: the hypotheses that were confirmed, the “ahah” moments where all the pieces fell into place.

Founders Don’t Discuss The things they didn’t know

What you don’t hear most Founders talking about: all the things they didn’t know – the times a big bet didn’t pay off, the times when what you thought was true turned out not to be the case, the times when the market turned on a dime and suddenly everything you’d been working to build was no l...

When it comes to types of startup funding, there are a lot of options to consider.

Startups in the early stages need to raise startup capital or funding to survive past the business idea (at minimum) but looking into all the types of funding can be overwhelming to a budding entrepreneur. If you've never heard about pre-seed funding, equity stake, or venture capital funds, we are going to dive into how to raise funds for startups, and the difference between all the funding sources out there.

So, what do all the types of startup funding mean? What are angel investors? How does series funding work? What does equity funding entail? What's the best way to land an investment from a venture capital firm? Is self-funding and crowdfunding actually leg...

In the early years of my first startup we totally ran out of money. I remember sitting in my apartment staring at the ceiling thinking "how do we possibly recover from this?"

Then I had a (then) silly idea. What if I just took the whole staff down to just a couple of people and we ran "bare-bones" for a while? I recognized it was a big step back, but I was also thinking "I'd rather be alive and breathing than dead and bloated" (the former being a Pearl Jam reference, the latter being a Stone Temple Pilots reference — RIP 90's).

We made the hard decision of letting basically everyone go. We moved the office back to my apartment. We sold off furniture and office equipment. It sucked.

And then something really interesting happened.

All of a su...

“Remember, teamwork begins by building trust. And the only way to do that is to overcome our need for invulnerability.” — Patrick Lencioni

One of the most under-appreciated and underrated attributions to a quickly growing company is this: business infrastructure.

For most entrepreneurs just entering the space, for any many naive executives, business infrastructure comes secondary before everything else.

Sure, your team is important. Your customers and users are critical. Your branding is key to having that lasting impression you want everyone to have.

I don’t want us ever to miscommunicate and state those aren’t important.

However, the real secret sauce to running a successful company comes down to the partnerships and trust you have, not ...

The first $10k of recurring revenue in any startup isn't just "revenue" — it's the difference between living and dying as a startup.

For startups, the best shot we have at living to see a big outcome is not dying along the way. While startups are often focused on "scaling to millions," what they often forget is that long before then it's just about keeping the lights on.

Whenever I'm building a new startup, my first and only focus is, "How do we get to 'life support' revenue so we can survive long enough to figure the rest out?" Having been through this startup phase countless times, I look back and realize that the startups that had the most success were those that were able to weather the (many) downtimes along the way.

Why $10k?

Everyone...

You’re automating a majority of your work, but what do you know about workflow automation? Implementing tactics that decrease the workload of your team members and eliminate unnecessary routine is crucial to business success.

Here’s how you can automate your team’s workflows to create more efficient, productive work processes.

Why is Workflow Automation Vital for Success?

If you need a reason to implement automation into your workflows, just check out these key statistics from Cognizant’s 2015 business process automation study:

• 20% of organizations who use process automation report at least 15% cost savings
• Half of those implementing new automated workflow strategies see significant improvement in their overall systems within 3-5 years

T...

Continuing in Phase Three of a four-part Funding Series:

Phase One - Structuring a Fundraise

Phase Two - Investor Selection

Phase Three - The Pitch

• Part 1 - Anatomy of a Pitch

• Part 2 - Market Size

• Part 3 - Revenue Model ( ←YOU ARE HERE 😀)

• Part 4 - Operating Model

• Part 5 - Customer Definition

• Part 6 - Customer Acquisition

• Part 7 - Funding

• Part 8 - Key Pitch Assets

• Part 9 - Traction

Phase Four - Investor Outreach

Let’s dive in!

What is a revenue model?

Your Revenue Model is simple — how are you going to make money? More importantly, how are you going to be profitable someday? Don’t let the Silicon Valley myth of “valuable companies don’t need a revenue model” become part of your pitch. All companies need a real revenue model that can be reasonably ex...

Ok. You have a great thing going with your new startup and are thinking about applying to an accelerator. Good on you. You have done your research to figure out if your company is a fit for a program like YCombinator, Techstars, UpRamp, or one of the many others in the world and now you are ready to start the online application process. Good friggin’ luck, because you have likely already lost the game.

Out here in Colorado there is a consortium of 70+ accelerators called the Global Accelerator Network, and their members report that 30% or less of their accepted cohort startups come to them from online submissions. The other 70% is accepted based on investor, mentor & alumni referrals. Knowing that the typical accelerator only accepts 1% of...

Sometimes a vacation isn't enough — we need a hard reset.

The game we play as Founders has massive costs to our emotional, mental and physical well-being, so thinking we can replenish all of what's lost in a "sweet trip to Mexico" is almost certainly not going to do the trick. What we need is a full life reset — we need a sabbatical.

We almost never hear the term "sabbatical" mentioned in any part of the startup universe and there's a good reason — we're way too needed at our startup! et it's that very notion that prevents us from ever replenishing our reserves, which are the very thing we need to effectively build our startup.

What Does a Startup Sabbatical Look Like?

Our sabbaticals don't have to be a ridiculous amount of time off — they ...

At first, it seemed like a match made in heaven. The book’s big, bold title grabbed your attention. The subtitle promised to solve one of the many challenges you’re facing right now. The glowing testimonials from CEOs and respected peers confirmed that it was the missing piece for anyone who hoped to be successful.

But by the time you got to chapter three it felt like a bad Tinder date. The author was repeating different versions of the same humorless anecdotes and displaying a brazen disregard for your time and attention span.

He was out of things to say.

You closed your eyes and whispered through clenched teeth:

“This should have been a blog post.” 😑

This is the big gripe readers have with business books — that they’re 90% fluff. They’re...