Being an Entrepreneur in the 21st Century Video Series
Presented at New Westminster, BC ByzHub Meetup on October 20, 2011
- Everyone living here has enjoyed a very high standard of living.
- Unfortunately, that’s changing. The economy has changed. The whole world is changing.
- Why is this happening? Quite simply – global trade. The world has become a very small place.
- What about the big, great technology companies? Like Intel, Microsoft and Cisco?
- None of these companies have created any wealth for their shareholders for over 15 years.
- Startups are now where the innovation happens, where the excitement is and where the wealth is being created.
- The three big trends that entrepreneurs can capitalize on to create wealth today are:
- Innovation, Internet Acceleration and Capital Efficiency
- And the other good news is that there is no shortage of capital. Let me repeat that – no shortage of capital.
- Uh, Oh. These are our friends and family! And we really need their money.
- The solution: Fairness, Alignment and Governance. All built into the structure of the company.
- Angel Co-Investment – groups of angels now often invest $5 to $10 million in a company over several rounds.
- Tip: Why are they investing? Hint: This answer applies not just to the Friends and Family round but to all rounds.
- I believe exits are the best part of being an entrepreneur or investor.
- But it’s also the least well understood part of being an entrepreneur or private investor.
- One of my life goals is to provide information to help entrepreneurs execute better exits.
- Google wants even earlier exits!
- Google said: “we do prefer companies that are pre-revenue”
- Examples of these exits. Why this is happening now. How it looks from a Fortune 500 senior exec.
- Many big companies have so much cash that it’s a problem.
- A local really early exit: This is a Vancouver company but they asked me to keep their details confidential – for now.
- How early can you sell? Why selling early is often the optimum time.
- The most heartbreaking error I see is entrepreneurs waiting too long to start the exit. Here’s why.
- I believe this time will come to be known as a “Golden Era for Entrepreneurs”
- There has never been a time before when, it was so easy for entrepreneurs to create such valuable companies on so little capital,
- And sell them so early for so much money
You can also watch this series on YouTube, starting with Part 1 here.
Many of these lessons are described in my new book on selling businesses for entrepreneurs and angel investors – www.Early-Exits.com.