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Being an Entrepreneur in the 21st Century

by Basil Peters on December 2, 2011 · 0 comments

Being an Entrepreneur in the 21st Century Video Series

Presented at New Westminster, BC  ByzHub Meetup on October 20, 2011

The PowerPoint for this talk is available here.

Highlights of Being an Entrepreneur in the 21st Century – Part 1:

Being an Entrepreneur in the 21st Century Part 1

  • 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.

Highlights of Being an Entrepreneur in the 21st Century – Part 2

Being an Entrepreneur in the 21st Century Part 2

  • 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.

Highlights of Being an Entrepreneur in the 21st Century – Part 3

Being an Entrepreneur in the 21st Century Part 3

  • 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.

If you enjoyed this video, you might also like Selling a Business Guide, Don’t Blow the Biggest Deal of Your Life, Early Exits – Your Golden Opportunity or Start at the End – Your Exit Strategy.

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