Author Archive: David Ehrenberg
The startup ecosystem is not just made up of entrepreneurs and investors; it also includes lawyers, bankers, HR and payroll providers as well as financial services providers. These service providers do more than provide a service; they are partners and important players within your startup ecosystem, providing guidance, connections, and support.
I get questions from startup founders about executive summaries all the time. They range from “what should I include?” to “how long should it be?” to “where can I get help writing one?” Those can be found on a previous post. But I do want to highlight 5 things that are guaranteed to make you stand out — and not in a good way.
So your company’s in its very early stages. We’re talking a skeleton crew of staff, minimal sales, and even less cash. While your focus is understandably on immediate survival and how you can hit your first big hurdles, what else should you be thinking of, especially where your finances are concerned?
How will you know when to revise your business plan? The short answer is that plans are living documents and should be constantly evolving. That being said, there are certain times when major, rather than incremental change, is called for. How do you distinguish between the two? Below are unmistakable signs, or forks in the road, that should prompt you to substantially rethink your plan.
The relationship between investors and founders can be tricky to navigate. At the best of times, it’s symbiotic, leading to gains for both sides. At others it can degenerate into a test of wills, or worse. How can you forge mutually beneficial, productive relationships with VCs that make best use of your respective strengths and effectively utilize your time?
We’ve all heard some variation of the quip that overnight success actually involves years of striving, with presumably several failed efforts and false starts along the way. But when entrepreneurs experience failure, whether it’s their first encounter with it or an especially spectacular failure, it can be a major blow financially as well as emotionally. Here are my thoughts on how to recover from a significant business setback.