Tech-Rx Founders Make a Splash at Founders Space Roundtable

Our very own Tech-Rx partners, Philip Engelhardt and Bob McDonald will be speaking at tomorrow’s Founders Space Roundtable on positioning your startup to investors. Founders Space Roundtable is a monthly meeting where founders get together to share knowledge, solve problems and make connections.
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Bob
Philip
Philip
Specifically, Philip and Bob will be presenting on how to gain traction with investors and what types of business models investors are attracted to. In addition to sharing what type of returns investors expect to see on their investments, Philip and Bob will also be speaking on a score of “How to” questions startups are always looking to answer.   These are examples of the types of “How to” questions that the panel will address:
  • How to ask for investment based on goals.
  • How to position your team as the ideal match for solving the problem.
  • How to prepare a credible financial scenario.
  • How to spot and correct weaknesses in your business plan.
  • How to manage the look and feel of your startup for success.
Tomorrow’s Founders Space Roundtable will be held Wednesday, May 29, 2013 from 6:00 PM to 8:00 PM (PDT). Here is the address to the event. SomaCentral 1 Market Street Steuart Tower, Fifth Floor San Francisco, CA 94105 Philip and Bob will be presenting alongside Peter Craddock of Shoreline Venture Management. The pair is thrilled to be speaking at tomorrow’s event and jointly hope founders will walk away from the session with a more solid understanding of investor relations.  For more information about the event, click here. Otherwise, we hope to see you there! -Nikki Griggs, Business and Marketing Associate, Tech-Rx

Don't be TOO anxious to take the money

Interesting categorization of the less-than-desirable types of investors from Marty Zwilling. While most angel investors are pure-of-heart, there are some that do not have the entrepreneurs best interests in mind.
Marty Zwilling
Marty Zwilling
8 Reasons All Angel Investor Money May Not Be Equal Do you know anyone who falls into one of these categories or, worse yet, have you been involved with someone like this? Share your experiences. -Steve Hogan

When Founders lose interest in their startups!

Here’s one perspective on mindset. EVERY entrepreneur, especially the first-timer, has dark days. When Founders lose interest in their startups!.Bored It’s what you do when the dark days outnumber the bright days that matters. It’s easy to begin to believe that you are not the right person to be leading your venture. Perhaps not! However, you were the right person to start the venture and that is the biggest step. I would add this to the advice in the article: Seek the help of others who have been in your shoes. You will learn that you are not alone in your feelings. If you doubt your leadership ability, ask the advice of others — not just your friends, but those who will cast a critical eye. Perhaps an adjustment to your management team is needed. There are hundreds, perhaps hundreds of thousands, of company founders who were CEOS, but found others to lead their company and became Chief Visionary or took some other position in the organization where they continued to add value. Those wise company founders were almost always richer (both financially and mentally) for having turned over the reins to someone who can take the company to the next level. Your thoughts? -Steve Hogan

Elon Musk to gov't: Here's that $500M I owe you

The Silicon Valley Business Journal had this interesting article  — Elon Musk to gov’t: Here’s that $500M I owe you – Silicon Valley Business Journal.Tesla Logo I won’t editorialize about the wisdom of the government’s green energy “investment” decisions, 85% of which went to large companies fully-able to fund their own development, but rather would prefer to congratulate Elon and his team for coming as far as they have in a relatively short time.  Well done! – Steve Hogan  

5 Forgotten Technologies

Remember that long-gone product that you made your life better? We all have a special memory book of those products that have come and gone out of our lives like an ex-BFF. Well chances are that if the product was cool enough for you to remember then it probably wasn’t the technology that lead to its demise. It is more likely that the downfall of the company was due to inexperienced management, poor product/market fit or some other reason that was completely avoidable.   Either way, it is a darn shame! When a technology fades, innovation is disrupted. This is a loss to society.

We don’t do this in our personal lives.  Why do we allow this to happen in business?  When you are in the process of building a house, for example, and during this you find that the bedroom windows are not designed to open, and you being a fresh-air fiend will never be able to sleep in that room, you don’t simply stop work, walk away and abandon the house. You change the plan to include windows that open and move forward with construction.  This is obvious.  Why then, do we not make the same types of adjustments to the business plan with our start-ups?

Below are five technologies – some probably “before their time” – that died an early death, but might have been saved if Tech-Rx had been there to help.

  1. Sonific was a streaming music widget that enabled users to embed free, licensed music onto their blogs and social network profile pages that didn’t necessarily support or offer music widgets. Was going completely offline necessary? Or was another revenue model possible for Sonific to pursue?

  2. MyKinda was as an Eastern European country-specific blog network that covered business, politics, culture, lifestyle, science and technology in local languages and English. MyKinda kinda crashed but was it avoidable? Was the marketing plan solid enough to attract advertisers?

  3. Dodgeball.com was a social networking company before social networking was cool. Sure, it was aquired by Google but was Google the right fit? Didn’t Google lead Dodgeball.com to their death?

  4. LetsBuyIt.com was one of the first online group buying services. Although they are coming back as a completely different creature, with the right pivot they could have preceeded Groupon!

  5. Sixdegrees.com was another dying social networking site prior to the Facebook days. What held them back? Could the right strategic partnership allowed them to live a bit longer?

Do you remember any of these technologies? Can you think of any more?  Add your favorites to the list.

-Steve Hogan, Managing Partner, Tech-Rx