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Table of Contents
  1. Starting a venture has never be easier exceeding has never been harder

  2. Try to act normal

  3. Aim for an order of magnitude improvement

  4. Start small but be ambitious

  5. Most failures result from poor execution not unsuccessful innovation

  6. The best idea originates from founders who are users

  7. Don't scale your technology until it works

  8. Manage with maniacal focus

  9. Target fast growing dynamic markets

  10. Never hire the second-best

  11. Conduct your hiring interviews as see if you're an airline pilot

  12. A part-time game changer is preferable to a full time seat filler

  13. Manager team like a jazz band

  14. Instead of a free lunch, provide meaningful work

  15. Team of professionals with a common mission makes the most attractive investment

  16. Use your financials to tell your story

  17. Create to business plans, an execution plan and a aspiration plan

  18. Know your financial members and their interdependence by heart

  19. Net income is an opinion but cash flow is a fact

  20. Unity economics tell you whether you have a business

  21. Manage working capital as if it were your only source of funds

  22. excellent exercise district its financial discipline

  23. Always be frugal

  24. To get where you are going you need to know where you are going

  25. Measurement comes with pitfalls

  26. Operational setbacks require swift and deep cutbacks

  27. Safe surprises for birthdays not for your stakeholders

  28. Strategic pivots offer silver linings

  29. Don't accept money from strangers

  30. Incubators are good for finding investors but not for developing business

  31. Avoid venture capital unless you absolutely need it

  32. If you choose venture capital pick the right type of the investor

  33. Conduct detailed due diligence on your investors

  34. Personal wealth is not good investing

  35. Choose investors who think like operators

  36. Deal directly with the decision makers

  37. Find stable investors

  38. Select investors who can help future financings

  39. Investors syndicates needs to be managed

  40. Capital intensive ventures required deep financial pockets

  41. Strategic investors pose unique challenges

  42. Raise capital in stages as you remove risks

  43. Minimizing dilutions is not your fund raising objective

  44. Don't let a temporary fix become a permanent mistake

  45. Pursue the lowest cost capital in light of your circumstances

  46. Escape the traps of venture debt

  47. Choose one of four approaches to determine how much money to raise

  48. Always have your aspirational plans ready

  49. More ventures fail from indigestion since from starvation

  50. Never stop fundraising

  51. Venture capital moves in cycles

  52. Fund raising takes more time than you think

  53. The pitch must answer the fundamental questions about your venture

  54. Make it personal

  55. When pitching carefully read the room

  56. Use white papers for deep dive follow-ups

  57. Prepare your financing document ahead of time

  58. Obsessively drive the close

  59. Constant communication is important in convincing investors

  60. Milestones can solve irreconcilable valuation differences

  61. Liquidation preference will change your outcome safe

  62. Do not take rejections personally

  63. Boards are deliberation bodies not collection of individuals

  64. Conflicts of interest and conflicting interest are elephants in room

  65. Your board should be operational rather than administrative

  66. Small boards are better than big ones next one

  67. Lead investors ask for board seats quantify them first

  68. You need a lead director

  69. Add independent board members for expertise and objectivity

  70. True board diversity is a competitive advantage

  71. Each director must commit to spending meaningful time

  72. Review director performance regularly

  73. Your chief financial officer has a special relationship with your board

  74. The founder should choose the best CEO available

  75. Find a coach

  76. It is the CEOs job to run efficient productive meetings

  77. Don't oversell your board

  78. Board agenda should look like this

  79. Prepare thoroughly for board meetings

  80. Use your daily management materials for board meetings

  81. Too many unanimous board decisions is a sign of trouble

  82. Use a working sessions and committees to reinforce your priorities

  83. Your board should spend time with your team

  84. Building companies to last, providing liquidity along the way

  85. Who liquidity is not limited to initial public offerings and acquisitions

  86. If you go public don't slip and fall

  87. Investors and management's interest in liquidity often conflicts

  88. Individual needed liquidity too

  89. Your evaluation will have a local maximum

  90. Ventures aren't just bought they can also be sold

  91. Choose an acquisitor, don’t wait to be chosen

  92. If you want to sell your business you need to know the decision-makers

  93. Determine whether you are a good fit for acquisition before contacting them

  94. Know your acquisitor’s acquisition history in detail

  95. Make yourself visible

  96. Build a relationship with potential acquisitions don't cold call

  97. Be ready when they are

  98. Success is not linear

  99. Prepare for your lucky break 

  100. Learn the rules by heart so you know when to break them

 
 
 
 
 

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