Biography

 
RISK – we don’t know why we do it, but we do it. Let’s face it – risk is what defines an entrepreneur, the ability to overcome the odds and win. If you’re an entrepreneur, or even an “intra-preneur” in a large corporation, you are probably facing these same challenges about getting your technology, product or service to market.

Every entrepreneur wants to get funded. It's the American Dream. Your technology is the next anti-gravity machine and it only needs $1 million to give birth.  The facts are that only 2.5% of entrepreneurs who ask for funding from VC's get it. And most of these were not early or seed stage.  Entrepreneur.com reported that a total of 125,000 entrepreneurs asked VC's for funding in 2006.  2,939 "lucky winners" split a pot of $22 billion.  So what does it take to be a winner in this highly competitive supply and demand game?

The answer to funding lies in your Industry Value Chain, not VC's.  VC's are one step removed from your customers.  What is the key question they always ask you?  "How are you doing with potential customers?"  Customers, or strategic partners, usually tell you whether you have something compelling or not.  Spending six months meeting with customers, channel partners, supply chain partners, brainstorming, and competing builds solid real value in your venture.  Spending six months "on the road" meeting with investors and talking about the company creates -0- real value for your venture.  It actually creates negative value, because you've 'left the game' for 6 months and took your eye off the ball - your customers.

Also, ITERATE, ITERATE, ITERATE.  Trust me - your pitch is not good enough.  Iterate it again - with your mother, your brother, your wife, etc.  The famous entrepreneur Paul Cook once said, "a venture's value proposition has to simple enough so that your mother can understand it."

Entrepreneurs need HELP.  Every Captain Kirk needs a Spock.  Every Captain Kirk needs an entire bridge for that matter.  ITERATE is dedicating this page to connecting up the Captain Kirks to their "Bridge".  Coming soon: the ability for you to post a highly recommended entry, or request a certain skill set. 

ITERATE has a vast rolodex of resources for the entrepreneur.  Don't hesitate to contact us.