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Straight Talk for Startups

Randy Komisar , Jantoon Reigersman

Straight Talk for Startups

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24min

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Today, the startup phenomenon is in full boom, and it seems as though anyone who has a half decent idea can become an entrepreneur. So, while  on the one hand, developing your own project and finding investors has become easier than it used to be, on the other, the market has become much more difficult to dominate, especially for those with anything less than an excellent grounding in the do’s and don’t of startups and financing. This is where the authors’ experience will come in handy. In their book Straight Talk for Startups: 100 Insider Rules for Beating the Odds-From Mastering the Fundamentals to Selecting Investors, Fundraising, Managing Boards, and Achieving Liquidity, Randy Komisar and Jantoon Reigersman share the list of rules that every founder would like to know, and should know before diving in. 

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Analysis and key concepts

01.

Nowadays it is easier to become an entrepreneur but to be successful at it, you need to know the rules

02.

The startup environment follows a set of rules that it really helps to know

03.

For a fruitful partnership, you need to know how to choose the right investors

04.

Gathering funds for a startup should be a constant and gradual process

05.

The board of directors is one of the most effective tools of a startup

06.

The liquidity of a startup does not always mean it is time to sell

07.

Quotes

08.

Take-home message

01. Nowadays it is easier to become an entrepreneur but to be successful at it, you need to know the rules

Given the important boom in startups and the simplification of financing and market placement methods in places like Silicon Valley, today everyone is talking about entrepreneurship more than ever: if once becoming an entrepreneur was a reckless vocation, in the last decade it seems to have become one of the many lifestyle trends that alternate in the tech and virtual environment. The main problem that follows is that many people, especially among the younger generation, dive headfirst into the creation of startups without knowing anything about the complex processes and mechanisms behind entrepreneurship, and are welcomed by an already saturated market, which is much more competitive than in the past, so they eventually fail.

The fact is that behind the creation of new companies that really work, there are quite a few unspoken rules that experts and investors immersed in the startup world know, and that every new entrepreneur who cares about their project should treasure. The authors have compiled some of the most important rules, and divided the development of a startup into five main areas:

  1. the foundations;
  2. selecting the right investors;
  3. effective fundraising;
  4. the creation and management of the board of directors;
  5. achieving liquidity.

Even though some of them are underestimated, misjudged or confused, all these areas are of equal importance for the development of a startup. Fully understanding the rules is crucial to be able to assess which direction to take from time to time and ensure that the company is healthy and heading for success.

02. The startup environment follows a set of rules that it really helps to know

03. For a fruitful partnership, you need to know how to choose the right investors

04. Gathering funds for a startup should be a constant and gradual process

05. The board of directors is one of the most effective tools of a startup

06. The liquidity of a startup does not always mean it is time to sell

07. Quotes

08. Take-home message

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Many useful tips to:

  • Learn the basics of creating a startup from the experts.
  • Learn how to select the right investors and activate an effective funding campaign.
  • Understand the importance of a fully functioning board of directors. 

Randy Komisar is an American author, speaker, and venture capitalist with extensive experience in the startup world. He has worked as a professor of entrepreneurship at Stanford University and had various experiences as CEO, including for LucasArts Entertainment and Crystal Dynamics, and as Virtual CEO for various startups such as WebTV and GlobalGiving. He is also a famous author of books on entrepreneurship, including the bestseller, The Monk and the Riddle: The Art of Creating a Life While Making a Living and Straight Talk for Startups: 100 Insider Rules for Beating the Odds-From Mastering the Fundamentals to Selecting Investors, Fundraising, Managing Boards, and Achieving Liquidity.

Jantoon Reigersman is a financial operator and CFO with extensive experience in the startup world. During his career he has been Chief Financial Officer for several companies, including Leaf Group and Ogin Inc., as well as an investor in Goldman Sachs' European Special Situation Group and Morgan Stanley. To his career in the world of finance, he added the ambitious 9000METER project, the first expedition to attempt to overcome a difference in height of 9000 metres between sea and land using only human strength. He is co-author of Straight Talk for Startups: 100 Insider Rules for Beating the Odds-From Mastering the Fundamentals to Selecting Investors, Fundraising, Managing Boards, and Achieving Liquidity.

Publishing house:

HarperCollins

Year:

2018

Pages:

304

ISBN:

978-0062869067