Category: Entrepreneurship

Entrepreneurship

Lecture to the MBA class: Growing and Exiting a Venture at the UBC Sauder School of Business on why I believe this is a 'Golden Era' for entrepreneurs. Topics include: There has never been a time before when it was so easy for so many entrepreneurs, to create such valuable companies on so little capital, and sell them so early for so much money The biggest change in the 21st century Big...

Entrepreneurship

When I was in grad school I co-founded a company that grew to become the second largest manufacturer of cable television headend equipment in the world. For the ten years after I graduated, I woke up every morning thinking of ways to out-innovate our two major competitors. We were a startup and they were both Fortu...

What Happened to Venture Capital

Entrepreneurship

This was a lecture to the MBA Entrepreneurial Finance Course at the University of British Columbia Sauder School of Business. Here's what happened to the Venture Capital industry: Intel, Microsoft and Cisco aren't making money for their shareholders Or, more importantly, for their employees That's part of the reason the best and brightest are now working in startups Big companies have lost their a...

Early Exits

Recently, at an Exit Strategies Workshop in Victoria, someone asked me to compare the pros and cons of an early exit versus a traditional Venture Capital financing. The scenario we used for our example was a successful startup company with a proven business that needed $10 million to $20 million to fund growth. (In this article, I am being precise about the distinction between the business a...

Entrepreneurship

The first section of this Exit Strategies Workshop describes why this is a "Golden Era for Entrepreneurs." This was another sold out event organized by the Vancouver Angel Forum. Highlights of Part 1: The whole world has changed. The big tech companies aren't creating wealth anymore - for their investors or employees. Startups create ALL of the new jobs. What does this...

Entrepreneurship

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 -...

Entrepreneurship

Highlights of 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. Entire countries are bankrupt and more are certain to follow. Lehman Brothers is gone. GM was bankrupt. Why is this happening? Quite simply - global trade. The world has become a very ...

Entrepreneurship

Highlights of 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. More good news is that there are lots of angel investors. Angel Co-Investment - groups of angels now often invest $5 to $10 million in a company over several rounds.

Entrepreneurship

Highlights of Being an Entrepreneur in the 21st Century - Part 3: Many big companies have so much cash that it's a problem. Big companies are not the only buyers. There are many more medium and small sized buyers. And an even larger number of successful, wealthy, boomers who have realized they aren't ready to retire. A "weekender" is where entrepreneurs build an entire company in a weekend. ...

Entrepreneurship

I was a little sad listening to President Obama talk about his job creation plans last week. Most of us in North America would agree that our highest economic priority is finding ways to create more new jobs. My take on Obama's plans is that he proposes to borrow more, or tax more, to subsidize companies to hire the people who are least employable. He also plans to require companies to "buy American" as long as that won’t increase prices more ...