October 24, 2014

Highest and Best Use (HBU)

I meet lots of entrepreneurs all of the time who are working on startups that are really cool, but after getting to know the individual I sometimes realize that their talents are being wasted or at least under utilized. It is almost impossible to find an appropriate way to tell someone that you think they [...]

How big is your market?

Each week I’m working closely with my TEN companies and there has been a recurring theme recently – understanding the ACTUAL size of their markets. Has an investor ever asked you this question: “How big is this market?” If you’re like me you’d say something like: “According to Forester the XYZ market will be $20B [...]

How to Fix Healthcare: QUOTE!

The quickest way to fix healthcare is to require that doctors provide quotes BEFORE delivering service. If most of us knew what our doctors PLANNED to charge before providing their services I suspect healthcare would cost a LOT less. Here is a recent experience I had with a service I would have rejected had I [...]

Update on ‘TEN’ my Mentoring Program

Back in April I announced my mentorship experiment I called ‘TEN’. The plan was simple, find ten entrepreneurs and spend a year working with them on their businesses. The idea was that by spending MORE time with FEWER entrepreneurs I could make a more significant impact AND have more time to work on my own [...]

Announcing ‘TEN’

For more than five years I’ve been actively involved in the Dallas startup community. During that time I have advised scores of entrepreneurs; however, I’ve often wondered how valuable my advice really was. For example, in the last thirty days I have ‘touched’ almost 100 different entrepreneurs. Touches include emails, voicemails, texts and face-to-face meetings [...]

Investor Referrals – HELP ME HELP YOU!

Remember that scene from Jerry Maguire where he tells his client, “HELP ME HELP YOU!” Each day I get a message from an entrepreneur asking for help finding an investor for his or her startup. The message goes something like this, “Working on the next big thing, can you refer me to a few local [...]

Should you share your idea?

You’ve got an idea for the next big thing, a new iPhone application that could change the world, and you’re looking for developers and/or looking to raise capital. You are not entirely certain where to turn so you reach out to local entrepreneurs who have ‘been there and done that’. I get calls like these [...]

Please quit asking me to sign your NDA!

Everyone in Dallas seems to be doing a startup and lots of these people call or email me to share their ideas with me. More than a few of these entrepreneurs ask me to sign an NDA before they are willing to ask for my feedback and/or advice. The quick answer is that I don’t [...]

Is Aereo legal but doomed?

This afternoon the folks from Aereo invited me and several other early adopters to lunch at the Ritz for their Dallas launch. The company has found a perfectly legal way of retransmitting over-the-air television via the internet to subscribers. The company is facing legal challenges by content providers, but they have successfully fought back each [...]

When should you raise money? NOW! [updated]

Garrett Camp, the co-founder of Stumbleupon, recommends, “Stay self-funded as long as possible.” I think I have been quoted saying the same thing, but over the past few years I have come to realize that you can wait too long to raise outside capital. When I founded LayerOne I raised money first and then built [...]