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Ryan Healy
I get a good number of requests to talk with people about their company or their service and how it could help/fit with Brazen. Unfortunately, as a start-up founder, I need to stay laser focused on our goals and doing what needs to be done to make them a reality. How do you guys politely decline to talk with someone when you know that you won't even be able to think about integrating or partnering etc. for months?
85 weeks ago from Entrepreneurs, Shotgun Startups, Upstarts! and Personal Branding2 more
Joseph Zahaitis:
Create an avenue for them to contact you (predetermined path, document, or venue) without obligation to “take up the charge”, actually look at the ...MoreCreate an avenue for them to contact you (predetermined path, document, or venue) without obligation to “take up the charge”, actually look at the information as it comes in and log it in a way to track and manage the information (contact management system – I could recommend a few, but I’m sure you have your favorite) respond to them and then keep in touch. Review the list, the opportunities and the possibilities on a regular basis (hey you’re a start up there is no time for sleep) and look at “lateral” ways to integrate with them (the best ideas come from outside the area that has direct responsibility for the product – an old quote from somewhere (wink)). The information sent should be short and sweet (like any elevator pitch) and you’ll easily be able to weed out the actual opportunities from those that are just that “good ideas”. In the end, it’s all about follow up . . . IMHO as an old guy
85 weeks ago
85 weeks ago
Rick Coplin:
Ryan, Kim is right - the truth is best. In start-up mode, you and everyone in the company has 100 things to do a day, and time for one or two. ...MoreRyan, Kim is right - the truth is best. In start-up mode, you and everyone in the company has 100 things to do a day, and time for one or two. Being focused on growing the opportunity at hand is key to thriving. Growing your network is also key, so if you can quickly determine that potential exists, just not now, refer them to someone you know who might be ready and keep their info for the future, encouraging them to stay connected as Joseph and Dave advise. The best will figure out over time how to be indispensable To Brazen and a real partnership will become obvious, when the time is right.
85 weeks ago
85 weeks ago
Wray Rives, CPA
joined the group Dallas Texas
85 weeks ago
Stefanie Kelly
I would love some perspective on an issue with a client. He is 43 days overdue on payment for a project. Two weeks ago, he told me that he was waiting for a cheque from his client on this project that was "in the mail". Today, he said his client is still "freeing up the funds" for him and he expects them within two weeks - at which point he will "quickly turn around a check for me". I feel though, that as my contract was with him this is irrelevent and he should still pay me on time. Thoughts?
95 weeks ago from Upstarts!
Donna Fenn recommended this
Stefanie Kelly:
Thanks everyone for all of your insight. I can tend towards being a pushover sometimes and having the benefit of this outside perspective ...MoreThanks everyone for all of your insight. I can tend towards being a pushover sometimes and having the benefit of this outside perspective definitely helped in giving me the confidence to push back with this delinquent client. I will definitely also be making use of all of the advice as to how many of you have handled contracts to avoid situations like this in the future. So far, I have received the 50% of the balance owing I requested from this client - time will tell how responsive he is at living up to the other half of the agreement. Again - thanks!
94 weeks ago
94 weeks ago
Donna Fenn:
Stefanie, this is all great advice and I'll add a tiny bit of my own. In the future, don't wait to invoice -- do it as soon as the job is ...MoreStefanie, this is all great advice and I'll add a tiny bit of my own. In the future, don't wait to invoice -- do it as soon as the job is completed even if your client is whining about how poor he/she is. That way, if you do need to take legal action, you have a true record of how late the payment actually is.
94 weeks ago
94 weeks ago
Emily Moore
Does anyone know the legal issues that come with selling music mix tapes as a part of a product package?
104 weeks ago from Upstarts!, Entrepreneurs and Young Entrepreneur Community1 more
EricHFriedman:
Wow Emily, you hit the jackpot (!) If these musical performances are friends of yours then the huge bundle of rights involved should be a lot ...MoreWow Emily, you hit the jackpot (!) If these musical performances are friends of yours then the huge bundle of rights involved should be a lot easier and simpler. If these are popular bands, then each one in the 'mix tape' should be an interesting legal journey in of itself. Now I'm not giving any advice, but there are also online services that aggragate this type of thing since it is a popular request. I did a search on "online music publishers for stock music" and came up with some 'creative commons' music licensors, such as 'http://www.danosongs.com/' this should be some real help. Well, unless your budget is in the 7 figures to put up a beatles, rolling stones, and led zeppelin mix tape. Then I want a copy too! - Eric
104 weeks ago
104 weeks ago
Mike Ambassador Bruny:
Great questions. I have reached out to ASCAP and BMI sense I am a speaker and have a presentation called, "7 Days of Hip Hop Affirmations to ...MoreGreat questions. I have reached out to ASCAP and BMI sense I am a speaker and have a presentation called, "7 Days of Hip Hop Affirmations to Change Your Life." I have not used any music in the presentation yet. Interestingly enough the question that came to mind is how DJ's put out mixtapes without paying the fees. One person told me that they actually sell the cover and artwork, but the music is "free." It doesn't seem that this would work in your case though.
101 weeks ago
101 weeks ago
Chris Williams
I'm looking for some advice on a project I'm launching.
In June, we'll be launching Pinup Power, a renewable energy pinup calendar. The concept is simple, we need 100% renewable energy and we need to make RE sexy and cool to do this. We'll be launching a national competition in June to find Miss Pinup Power, and another 11 girls that will be featured in the calendar.
What advice would you give to spread the word? Thanks for the help!
105 weeks ago from Upstarts!
Elisabeth Ericson:
I agree with Jessica and, while a strong supporter of renewable energy, would be among those alienated. To paraphrase an article I read recently, ...MoreI agree with Jessica and, while a strong supporter of renewable energy, would be among those alienated. To paraphrase an article I read recently, I would prefer that "when [people] think of making money, they do not go first to [women's] breasts."
http://bit.ly/apctqz
105 weeks ago
http://bit.ly/apctqz
105 weeks ago
Donna Fenn:
Chris, aside from the obvious alienation issue (and, yes, I'm in that camp), it seems to me that the calendar you describe limits your market to ...MoreChris, aside from the obvious alienation issue (and, yes, I'm in that camp), it seems to me that the calendar you describe limits your market to males who are, say 18-35. Are those really the people making decisions about renewable energy? If your goal is to reach as broad an audience as possible to get out an important message, I'm afraid you're about to shoot yourself in the foot!
105 weeks ago
105 weeks ago
Donna Fenn
Hello all! I'm speaking at a Mult Media and Entrepreneurship conference in Belgium in May and will also participate in a talk on U.S. vs. European entrepreneurship. Anyone have thoughts on similarities or differences, or other resources that I may find useful to get up to speed? Thanks!
113 weeks ago from Upstarts!
Tariq West:
A couple of things off the top of my head:
(1)Funding climate and capital availability: In Europe there are far fewer VC firms and less available ...MoreA couple of things off the top of my head:
(1)Funding climate and capital availability: In Europe there are far fewer VC firms and less available capital in general. Much of the capital that is available comes through government-partnered funds these days. European VC firms are generally more risk averse and expect smaller returns. Additionally, there is a more established tradition of institutional investment (e.g. incubating startups within major tech companies) than of straight VC. Also, whereas American VC firms tend to be both investor and participant in their companies – providing hands-on guidance and support both in terms of strategy and day-to-day operations, European firms tend to be more hands-off investors – providing capital and letting things run their course. Finally, there is not much of an angel investing culture.
(2)Cultural orientation towards risk/failure and the entrepreneur: Whereas in the U.S. – and Silicon Valley in particular – the title of “entrepreneur” caries with it a certain respect and prestige, in Europe it is far less well regarded. In more risk-averse cultures built around “solid jobs”, often in the public sector, and guaranteeing security and quality of life, “entrepreneur” may be interpreted as just “unemployed” or worse. Also, failure and experimentation are less tolerated than they are in the U.S. For this reason, even though there is a good deal of entrepreneurial activity within established organizations, the path for the entrepreneur can be daunting. Many would-be entrepreneurs are afraid to take a chance and are disinclined to ask for funding from friends and family.
(3)Size and fragmentation of the immediately accessible market: The U.S. is relatively homogeneous in terms of language, and increasingly, in terms of culture as it relates to the consumption of technology products. The European market, in contrast, is much more fragmented, divided into many sub-markets along linguistic, cultural and national lines. This means that a business can only grow so much in its native sub-market before it must incur the costs and challenges of internationalizing its products – this means providing support and services in many different languages and adjusting the product to the preferences of many different culturally bounded markets. Beyond this, the European market taken as whole is dwarfed by the U.S. market in terms of its consumption of technology goods and services. This means that an entrepreneur must get over significant hurdles to approach what is likely the smaller segment of the total potential market for their goods and services. U.S. entrepreneurs in contrast can grow their businesses for a long time just on the U.S. market demand, before capturing the long-tail of international demand.
(4)Entrepreneurship education and knowledge and technology transfer and commercialization in universities: In many European universities there is a culture where academia is seen as separate from commerce (social class implications here). Most universities don't have proper tech transfer/licensing programs, few if any entrepreneurship classes and tech labs have limited hours for students to fool around on their own projects.
Europe has a couple of great features for entrepreneurship as well:
(1) European entrepreneurs may be more fiscally conservative/responsible (in part because of the more conservative VC/angel funding climate and generally slower business growth) which may play well into a lean-startup model built around limiting cash burn,
(2)There is an abundance of well-educated technical and other talent in Europe (and a better public welfare system for cushioning failures), which an entrepreneur can leverage,
(3) Several European regions offer significant cost savings on labor and other expenses. In Madrid, for instance, high-quality managerial talent is cheaper than other places allowing for lower total operating costs, while many places in Eastern Europe still offer considerable cost savings on skilled technical labor and
(4)European entrepreneurs may be more inclined, on average, to spend time developing and maintaining meaningful relationships rather than just pitching ideas/seeking funding. This may be an advantage in terms of networking and bringing together compatible and capable teams and circulating ideas.
--
This speaker series is all about entrepreneurship in Europe vs. Us, features some of the top entrepreneurs, institutional investors and VCs in Europe - http://bit.ly/cwTzL9. They also have a linkedin group where I'd pose the question - http://bit.ly/cqqxnT | Hope this has been helpful, feel free to drop me an email for more info at: tariqwest [at] gmail [dot] com.
113 weeks ago
(1)Funding climate and capital availability: In Europe there are far fewer VC firms and less available ...MoreA couple of things off the top of my head:
(1)Funding climate and capital availability: In Europe there are far fewer VC firms and less available capital in general. Much of the capital that is available comes through government-partnered funds these days. European VC firms are generally more risk averse and expect smaller returns. Additionally, there is a more established tradition of institutional investment (e.g. incubating startups within major tech companies) than of straight VC. Also, whereas American VC firms tend to be both investor and participant in their companies – providing hands-on guidance and support both in terms of strategy and day-to-day operations, European firms tend to be more hands-off investors – providing capital and letting things run their course. Finally, there is not much of an angel investing culture.
(2)Cultural orientation towards risk/failure and the entrepreneur: Whereas in the U.S. – and Silicon Valley in particular – the title of “entrepreneur” caries with it a certain respect and prestige, in Europe it is far less well regarded. In more risk-averse cultures built around “solid jobs”, often in the public sector, and guaranteeing security and quality of life, “entrepreneur” may be interpreted as just “unemployed” or worse. Also, failure and experimentation are less tolerated than they are in the U.S. For this reason, even though there is a good deal of entrepreneurial activity within established organizations, the path for the entrepreneur can be daunting. Many would-be entrepreneurs are afraid to take a chance and are disinclined to ask for funding from friends and family.
(3)Size and fragmentation of the immediately accessible market: The U.S. is relatively homogeneous in terms of language, and increasingly, in terms of culture as it relates to the consumption of technology products. The European market, in contrast, is much more fragmented, divided into many sub-markets along linguistic, cultural and national lines. This means that a business can only grow so much in its native sub-market before it must incur the costs and challenges of internationalizing its products – this means providing support and services in many different languages and adjusting the product to the preferences of many different culturally bounded markets. Beyond this, the European market taken as whole is dwarfed by the U.S. market in terms of its consumption of technology goods and services. This means that an entrepreneur must get over significant hurdles to approach what is likely the smaller segment of the total potential market for their goods and services. U.S. entrepreneurs in contrast can grow their businesses for a long time just on the U.S. market demand, before capturing the long-tail of international demand.
(4)Entrepreneurship education and knowledge and technology transfer and commercialization in universities: In many European universities there is a culture where academia is seen as separate from commerce (social class implications here). Most universities don't have proper tech transfer/licensing programs, few if any entrepreneurship classes and tech labs have limited hours for students to fool around on their own projects.
Europe has a couple of great features for entrepreneurship as well:
(1) European entrepreneurs may be more fiscally conservative/responsible (in part because of the more conservative VC/angel funding climate and generally slower business growth) which may play well into a lean-startup model built around limiting cash burn,
(2)There is an abundance of well-educated technical and other talent in Europe (and a better public welfare system for cushioning failures), which an entrepreneur can leverage,
(3) Several European regions offer significant cost savings on labor and other expenses. In Madrid, for instance, high-quality managerial talent is cheaper than other places allowing for lower total operating costs, while many places in Eastern Europe still offer considerable cost savings on skilled technical labor and
(4)European entrepreneurs may be more inclined, on average, to spend time developing and maintaining meaningful relationships rather than just pitching ideas/seeking funding. This may be an advantage in terms of networking and bringing together compatible and capable teams and circulating ideas.
--
This speaker series is all about entrepreneurship in Europe vs. Us, features some of the top entrepreneurs, institutional investors and VCs in Europe - http://bit.ly/cwTzL9. They also have a linkedin group where I'd pose the question - http://bit.ly/cqqxnT | Hope this has been helpful, feel free to drop me an email for more info at: tariqwest [at] gmail [dot] com.
113 weeks ago
Donna Fenn:
Rebecca, Wray, and Tariq -- thanks sooo much! These are great insights and resources; terrific places for me to start doing my homework so that I ...MoreRebecca, Wray, and Tariq -- thanks sooo much! These are great insights and resources; terrific places for me to start doing my homework so that I can be prepared.
112 weeks ago
112 weeks ago
Donna Fenn
I need your help, everyone! I've just accepted a regular blogging gig (2x per week)at a big company. It's exciting, but unfamiliar territory for a long-form journalist like myself. So I'd love some advice from any of you bloggers out there on how to stay disciplined, where your inspiration comes from, and any other helpful tips you'd care to share. Thanks!
120 weeks ago from Upstarts!
Donna Fenn:
Hi everyone and thanks for all the advice. The blog debuted today: MoreHi everyone and thanks for all the advice. The blog debuted today: http://blogs.bnet.com/smb/?p=101. Sometime in the next month or so,the site will launch a new section for business owners and then my blog will be branded as "Alpha Dogs and Upstarts" and I'll have my own space on the site! I'll post on Mondays and Wednesdays, so take a look. Thanks again!
116 weeks ago
116 weeks ago
Wray Rives, CPA
http:\\twitter.com\rivescpa
Wray Rives, CPA
@rivescpa
Cyndee Sugra
Hi Wray - Various CPA's we've worked with have had different views on this topic, and was curious to get your thoughts. We are profitable and have grown triple digits every year. The bad news is that I/my company gets taxed up the ying-yang every year. We are set-up as a single-member LLC (California) currently and all the taxes flow through me and I take a draw as a member. Is there a better way to go about this so that paying taxes isn't so painful? Thanks for your advice...
127 weeks ago from Upstarts!
Wray Rives, CPA:
Cyndee-Sorry to say this is one of those "it depends" situations. LLC is a great entity to operate a business under due to federal tax ...MoreCyndee-Sorry to say this is one of those "it depends" situations. LLC is a great entity to operate a business under due to federal tax flexibility. Self Empl tax is one downside, but still LLC is a better choice up to a point. I would suggest you sit down with your tax pro and have them run a "what if" analysis, since it is very easy to change how you are taxed with an LLC. Unfortunately CA is going to nail you for tax regardless.
127 weeks ago
127 weeks ago
Wray Rives, CPA:
Also S-Corp is a federal tax designation it is not a legal form of entity. If you have an S-corp in California most likely the underlying legal ...MoreAlso S-Corp is a federal tax designation it is not a legal form of entity. If you have an S-corp in California most likely the underlying legal entity is an LLC.
127 weeks ago
127 weeks ago
Andrew Hill
So right now I'm the founder of www.rumfordaquatics.com but I'm also doing a "Senior Project" and I'm researching the Pros and Cons of For-Profit and Non-Profit business classifications for a bottled water company that uses the profits to build drinking water infrastructure in third world countries. Any tips on my research? I know a few people have mentioned Tax backgrounds and stuff. I'm also looking for a mentor in RI.
Thanks,
-Andrew
127 weeks ago from Upstarts!
Andrew Hill:
Thats what I was thinking... Do you know off hand how much is deductible for a for-profit business? I was able to find some stuff on personal ...MoreThats what I was thinking... Do you know off hand how much is deductible for a for-profit business? I was able to find some stuff on personal charitable tax exemptions but the business side wasn't so easy and the IRS's site isn't the best to do research with.
Thanks,
-Andrew
127 weeks ago
Thanks,
-Andrew
127 weeks ago
Wray Rives, CPA:
It depends on the type of business C-corp is limited to 10% of taxable income in general. LLC, S-corp, sole proprietor will depend on how the ...MoreIt depends on the type of business C-corp is limited to 10% of taxable income in general. LLC, S-corp, sole proprietor will depend on how the organization is taxed and if expenses "flow through" to the individuals owners.
127 weeks ago
127 weeks ago
Wray Rives, CPA
Good point--I should clarify that if you have tax or accounting questions, don't hesitate to ask, advice is free.
127 weeks ago from Upstarts!
Wray Rives, CPA
I am a Certified Public Accountant and own a firm that provides online and virtual accounting, tax and business support to small businesses and entrepreneurs. http://www.NeedaCFO.com
127 weeks ago from Upstarts!
Torbjørn Rive:
Congrats. You're basically a spammer.
Add value beyond self-promotion...
127 weeks ago
127 weeks ago
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