Straight Talk for Startups (ePub)

Best practices for successful startups—from veteran venture capitalist Randy Komisar and startup executive Jantoon Reigersman

In today's world, everyone seems to aspire to be an entrepreneur. Brilliant, multimillion-dollar ideas are a dime a dozen, and huge success appears inevitable. But when it comes to transforming that idea into a lucrative business, most people fall short. The excitement of starting a company quickly fades when budding entrepreneurs face a stark reality—they lack the know-how and experience to get the job done.

Randy Komisar and Jantoon Reigersman are the knowledgeable mentors every entrepreneur needs. With decades of experience, they know firsthand what works—and what doesn't. In Straight Talk for Startups, they share the knowledge, tips, and tricks they've gleaned from years of being on both sides of the table.

Their list of 100 rules will give insight into every part of the process, tackling topics from “Mastering the Fundamentals” and “Selecting the Right Investors” to “The Ideal Fundraise,” “Building and Managing Effective Boards,” and “Achieving Liquidity.”

Straight Talk for Startups includes such vital rules for founders as:

• The best ideas originate from founders who are users.
• Create two business plans: an execution plan and an aspirational plan.
• Net income is an opinion, but cash flow is a fact.
• Don't accept money from strangers.
• Raise capital in stages as you remove risk.
• Personal wealth doesn't equal good investing.
• Small boards are better than big ones.
• Add independent board members for expertise and objectivity.
• Conflicts of interest and conflicting interests are elephants in the room.
• Choose an acquirer; don't wait to be chosen.
• Success is not linear.
• Learn the rules by heart so you know when to break them.

Filled with helpful real-life examples and specific, actionable advice, Straight Talk for Startups is the ideal handbook for anyone running, working for, or thinking about creating a startup, raising venture capital, or just curious about what makes high-potential ventures tick.