This is going to be BIG.

MARCH 1, 2010

It’s often some combination of the idea not being big enough to sustain a venture exit or the company just not being appropriate for venture financing. My company was not well executed enough to achieve venture capital financing—and that wasn’t the city’s fault, it was mine. I was there, too. They’re not “dumb Wall Street money”.

New York City 120

New York City New York Startup Burn Rate 120

Both Sides of the Table

JULY 13, 2013

I got a job at a bank, and I worked in their corporate finance group. We had a finance group for all of the bank branches based in San Diego, and I wrote programs to download stuff from the mainframe so we could do analysis three days faster than they could send us the data. And my specialty was computer networks.

Cofounder 337

Cofounder Technical Cofounder San Diego Startup 337

YoungUpstarts

MARCH 30, 2018

This area of San Francisco means you’ll be rubbing shoulders with your colleagues, and you might just network yourself into a deal that can help your business. As the founder of your startup, you’re responsible for its finances. Though you can expect any startup to have a burn rate at first, it should lessen with each quarter.

Silicon Valley 133

Silicon Valley San Francisco Founder Burn Rate 133

techcrunch.com

FEBRUARY 26, 2013

He knows how to advise entrepreneurs on hiring/firing, running teams, managing funding, when/how to control burn rate, and making other tough management decisions in the real environment of startups. In contrast to this personal view of an ideal board, many boards are often polite and agreeable, in many cases to a fault.

Burn Rate 87

Burn Rate Hiring Engineer Entrepreneur 87

VC Cafe

FEBRUARY 6, 2011

It’s likely that the investors don’t know you, so try and find warm intros from people in your network. R&D outside SV is normally cheaper, so it helps you keeping your burn rate low. Some startups are more interested in mentorship and network than they are in money. Network and talk to people.

Silicon Valley 104

Silicon Valley Startup Seed Stage Delaware 104

Both Sides of the Table

MARCH 30, 2016

Word travels at light speed amongst this small network of people who all know each other and even though they’re rivals they also sit on boards together and many probably went to business school together. We had grown into a more reasonable burn rate so raising capital meant we would have many years of cash on the balance sheet.

Balance Sheet 150

Balance Sheet Burn Rate Valuation Forecast 150

OnlyOnce

SEPTEMBER 30, 2020

Then your VP Finance Sally gets lured away by an even hotter and sexier new startup and leaves a sudden, gaping hole on your team. Frequently, the CEO just taps her network for execs or for on-demand executives like the ones Bolster places — that could be asking board members or friends or advisors for suggestions.

Burn Rate 71

Burn Rate Leadership Search Curation 71

Austin Startup

NOVEMBER 11, 2017

We knew we would solve the problem faster by having access to the Techstars network and accelerator program (5000+ founders, mentors and investors worldwide) Learn how to scale our business and automate sales and csm by exporting our SaaS in a foreign and huge market: the US. I met with around 110 mentors total, in less than 3 weeks.

Burn Rate 54

Burn Rate Product Cofounder PR 54

Steve Blank

JUNE 1, 2011

3) An experienced board brings an extensive network of customers, partners, help in recruiting, follow-on financing, etc. The only numbers in those documents that are important in the first year of a startup’s life are burn rate and cash balance. From a founder’s point of view there are three reasons for board meetings.

Silicon Valley 300

Silicon Valley Business Model Venture Capital Balance Sheet 300

philipsmith.typepad.com

SEPTEMBER 24, 2011

a year burn rate and your equity is worthless due to numerous recapitalizations and bridge loans from investors then either you don't get it or I'm stupid to do it. Someone in my network forwarded an email to me from a recruiting firm that is quite active in the Valley. The second example came along just this morning.

Silicon Valley 40

Silicon Valley Equity Technical Review Recapitalization 40

Steve Blank

JUNE 1, 2011

3) An experienced board brings an extensive network of customers, partners, help in recruiting, follow-on financing, etc. The only numbers in those documents that are important in the first year of a startup’s life are burn rate and cash balance. From a founder’s point of view there are three reasons for board meetings.

Silicon Valley 273

Silicon Valley Business Model Venture Capital Balance Sheet 273

OnlyOnce

SEPTEMBER 30, 2020

Then your VP Finance Sally gets lured away by an even hotter and sexier new startup and leaves a sudden, gaping hole on your team. Frequently, the CEO just taps her network for execs or for on-demand executives like the ones Bolster places — that could be asking board members or friends or advisors for suggestions.

Burn Rate 48

Burn Rate Leadership Search Curation 48

Professor VC

APRIL 7, 2011

This will also serve as a good pointer for all the entrepreneurs who ask why I am not interested in their company led convertible note financing round. This can make it much more difficult to get any bank financing, new investment, and trade credit. In cases where it is truly a bridge financing (i.e. Steve Bennet. at 1:33 PM.

San Jose 36

San Jose Technical Review Angel Investor Valuation 36

Professor VC

NOVEMBER 14, 2011

in fees is a hefty transaction fee considering company will still have legal and other fees on the financing. Don't Stop Believin' Is There Any Truth in "The Social Network"? I also teach Entrepreneurial Finance at San Jose State. 7.5 - 10.5% April 12, 2012 6:15 PM. Daniel Sisson. ► January. (1).

SEC 54

SEC San Jose Angel Investor Accredited Investor 54

Professor VC

SEPTEMBER 26, 2011

Don't Stop Believin' Is There Any Truth in "The Social Network"? I take CFO roles in early stage companies and participate on the management team during the early financings and business model development phases. I also teach Entrepreneurial Finance at San Jose State. ► January. (1). ► 2010. (7).

Technical Review 38

Technical Review Early Stage San Jose Angel Investor 38

Professor VC

APRIL 11, 2008

Not to worry, I was busy working on closing the Series B financing for iControl Networks. I started working with the founders of iControl at the concept stage, prior to the first $100K of angel financing. Labels: CFO , home security , M and A , venture capital , venture financing. Steve Bennet. at 10:22 AM. Newer Post.

San Jose 28

San Jose Angel Investor Venture Capital Balance Sheet 28

Up and Running

OCTOBER 1, 2014

Nelson has some tips: Know your burn rate. And this isn’t just for your business, but as many startup founders know, your personal finances can matter just as much (especially if you aren’t profitable yet). Don’t be scared to turn down “dumb money” Network like crazy.

Bootstrapping 107

Bootstrapping Cofounder Portland Burn Rate 107

Professor VC

APRIL 1, 2010

One comment made by Jason was that angels tend to be less sensitive than VCs on valuation and can potentially make it difficult to get a venture financing done at acceptable valuation. Labels: Angel Investors , fundraising , term sheets , venture capital , venture financing. Dumb Money - Are we as dumb as we look? Steve Bennet.

Term Sheet 32

Term Sheet Angel Investor San Jose Venture Capital 32

Professor VC

JANUARY 27, 2011

Don't Stop Believin' Is There Any Truth in "The Social Network"? I take CFO roles in early stage companies and participate on the management team during the early financings and business model development phases. I also teach Entrepreneurial Finance at San Jose State. ▼ January. (1). ► 2010. (7).

Technical Review 31

Technical Review Due Diligence Silicon Valley San Jose 31

Professor VC

MARCH 10, 2009

Don't Stop Believin' Is There Any Truth in "The Social Network"? I take CFO roles in early stage companies and participate on the management team during the early financings and business model development phases. I also teach Entrepreneurial Finance at San Jose State. ► January. (1). ► 2010. (7).

Bootstrapping 28

Bootstrapping San Jose Silicon Valley Software Review 28

Professor VC

JANUARY 27, 2008

The spring semester of my Entrepreneurial Finance class starts tomorrow. We will also look at a variety of financing methods including venture capital, angel investing, licensing, franchising, roll-up, venture debt and my old favorite, bootstrapping. Labels: entrepreneur , entrepreneurial finance course , venture capital.

San Jose 28

San Jose Technical Review Angel Investor Venture Capital 28

Professor VC

MAY 29, 2008

The ACA is an interesting organization and is providing support in a number of ways to its member angel groups, from public policy, networking, sydnication, and best practices. Don't Stop Believin' Is There Any Truth in "The Social Network"? I also teach Entrepreneurial Finance at San Jose State. ► May.

Angel Investor 28

Angel Investor Angel Groups Accredited Investor San Jose 28

Professor VC

NOVEMBER 19, 2009

However, for most of the rest of us, the analytical skills honed in college or grad school, along with the opportunity to network and explore different fields prove invaluable later. Don't Stop Believin' Is There Any Truth in "The Social Network"? I also teach Entrepreneurial Finance at San Jose State.

San Jose 43

San Jose Silicon Valley Las Vegas Venture Capital 43

Professor VC

DECEMBER 18, 2008

Manija Ansari is an undergraduate business student (currently in my Entrepreneurial Finance course), working on a social entreprenurial venture. Don't Stop Believin' Is There Any Truth in "The Social Network"? I also teach Entrepreneurial Finance at San Jose State. A Lot of Horn Tooting over a Kazoo sized deal.

Silicon Valley 28

Silicon Valley San Jose Technical Review Angel Investor 28

Both Sides of the Table

FEBRUARY 14, 2016

Social networking finally came of age connected the planet and leading to enormous wealth creation for Facebook employees and investors. Huge funding increases lead to massive wage inflation, rent inflation and thus higher burn rates. Why Financing in Falling Markets is So Damn Difficult. Even Sequoia. And so it goes.

Valuation 150

Valuation Down Round Startup Later Stage 150

Professor VC

FEBRUARY 26, 2008

As I mentioned in the previous post, Jeff Fluhr (founder of StubHub) recently stopped by my Entrepreneurial Finance class to share his 4 Lessons of Entrepreneurship with the students. He raised less financing than originally planned but was able to launch the site and was running a business by the time his classmates graduated 9 months later.

Technical Review 28

Technical Review San Jose Angel Investor Silicon Valley 28

Professor VC

SEPTEMBER 16, 2008

I am not sure how this relates to venture finance or entrepreneurship, but Im sure Ill find some connection along the way. Don't Stop Believin' Is There Any Truth in "The Social Network"? I also teach Entrepreneurial Finance at San Jose State. ProfessorVC. The last blogger in Silicon Valley. ► January. (1).

San Jose 28

San Jose Technical Review Angel Investor Silicon Valley 28

ReadWriteStart

JUNE 13, 2011

An experienced board brings an extensive network of customers, partners, help in recruiting, follow-on financing, etc. The only numbers in those documents that are important in the first year of a startup's life are burn rate and cash balance. What's Wrong With a Board Meeting?

Silicon Valley 117

Silicon Valley Balance Sheet Metrics Early Stage 117

Professor VC

JUNE 6, 2008

Don't Stop Believin' Is There Any Truth in "The Social Network"? I take CFO roles in early stage companies and participate on the management team during the early financings and business model development phases. I also teach Entrepreneurial Finance at San Jose State. ► January. (1). ► 2010. (7).

San Jose 28

San Jose Technical Review Norway Angel Investor 28

Professor VC

NOVEMBER 13, 2008

Don't Stop Believin' Is There Any Truth in "The Social Network"? I take CFO roles in early stage companies and participate on the management team during the early financings and business model development phases. I also teach Entrepreneurial Finance at San Jose State. ► January. (1). ► 2010. (7).

Oregon 28

Oregon San Jose Angel Investor Silicon Valley 28

Professor VC

JULY 31, 2008

I actually enjoy the process of pulling together a selection of materials to create a complete course on Entrepreneurial Finance. Don't Stop Believin' Is There Any Truth in "The Social Network"? I also teach Entrepreneurial Finance at San Jose State. Guess its not only the students who procrastinate.

San Jose 28

San Jose Software Review Angel Investor Silicon Valley 28

Professor VC

FEBRUARY 12, 2008

However, I was glad to see they were able to raise financing and launch the service. Steve, I was pleasantly surprised to find your blog when researching startup financing. Don't Stop Believin' Is There Any Truth in "The Social Network"? I also teach Entrepreneurial Finance at San Jose State.

San Jose 31

San Jose Technical Review Venture Capital Angel Investor 31

Professor VC

JANUARY 17, 2008

He then went on to say that this type of financing was good for the entrepreneur (vs taking VC money) because they got to keep more of the company. Don't Stop Believin' Is There Any Truth in "The Social Network"? I also teach Entrepreneurial Finance at San Jose State. ► January. (1). ► 2010. (7).

Pre-Money Valuation 28

Pre-Money Valuation Angel Investor Angel Groups Valuation 28

Professor VC

JUNE 20, 2011

Financing, that is.I had mixed emotions when I read the the press release on the recent funding of iControl Networks. One truth of start-up financing is that it generally takes twice as long and twice as much money to accomplish your milestones. As I said up front, I have mixed emotions about the financing. ProfessorVC.

San Jose 28

San Jose Angel Investor Term Sheet Venture Capital 28

Seeing Both Sides

MARCH 2, 2011

The students concluded that the context around a venture matters tremendously - that smart phones, the explosion of apps and social networking all were important enablers that allowed foursquare to succeed at this particular moment in time. Modest burn : the company only raised $1.35 Advertising isn't cool.").

API 44

API Valuation Lean Burn Rate 44

Professor VC

AUGUST 26, 2011

To that last one, there is certainly some truth as the standard time vs. revenue chart in most business plans looks like this: Im not teaching Entrepreneurial Finance this semester for the first time since Fall 2007. Labels: entrepreneurial finance , financial analysis , venture capital. Steve Bennet. at 3:15 PM. Email This BlogThis!

Silicon Valley 35

Silicon Valley San Jose Hockey Stick Venture Capital 35

Reid Hoffman

NOVEMBER 14, 2018

Other times, critical mass triggers network effects, as with Uber or Airbnb. But it is also clearly faster, and has allowed Uber to grow its engineering team (which is typically a major challenge) at higher rate. The classic offensive reason for Blitzscaling is to achieve a critical mass that confers a lasting competitive advantage.

Engineer 28

Engineer Burn Rate Hiring Dilution 28