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Owners of growing companies need to begin positioning them for sale early in the life of the firm and continue to take steps toward sale throughout the business's life, writes an entrepreneur and venture capitalist. Included are eight suggestions for doing just that.
Angel financing - or funding from individuals with the time and money to invest in early-stage companies - is more accessible thanks to the gathering of such investors into networks, writes an erstwhile entrepreneur turned angel investor. The process is still arduous, but the author offers tips for easing the way.
There is no doubt that it is a nearly impossible time for entrepreneurs to raise venture capital. Only the best of the best new companies are attracting such funding, according to the author. Entrepreneurs need to prepare themselves when approaching venture capitalists. Increasingly, several must have factors have become an essential part of the necessary preparation.
Young entrepreneurs with few contacts need to get real about raising money in a tough economy, and pursue avenues such as their own bank accounts, loans from parents and credit cards, writes the author. Another tactic is keeping costs low so that you need less money in the first place.
Entrepreneurs must identify ways to exit a business at the onset, which enables efforts to be directed to a goal, writes the builder of two companies. The author, now a venture capitalist, outlines four steps for doing so.
Vinod grew up dreaming of being an entrepreneur. He was raised in an Indian Army household with no business or technology connections. When, at age 16, he first heard about Intel, he dreamt of starting his own technology
company. Upon graduating with a Bachelors in Electrical Engineering from the Indian Institute of Technology, Delhi, he tried to start a soy milk company to service the many people in India who did not have refrigerators. He then came to
the US and got his Masters in Biomedical Engineering at Carnegie-Mellon University. His startup dreams attracted him to Silicon Valley where he got an MBA at Stanford University in 1980. In 1982, Khosla started Sun Microsystems to build
workstations for software developers. At Sun he pioneered "open systems" and RISC processors. Sun was funded by long time friend and board member John Doerr of Kleiner Perkins Caufield & Byers. In 1986 he switched sides and joined
Kleiner Perkins where he was a general partner. There, he worked with Nexgen/AMD, Juniper, Excite, and many other ventures. In 2004, Khosla formed Khosla Ventures. Khosla Ventures offers venture assistance, strategic advice and capital to
entrepreneurs. The firm helps entrepreneurs extend the potential of their ideas in both traditional venture areas like the Internet, computing, mobile, and silicon technology arenas but also supports breakthrough scientific work in clean
technology areas such as bio-refineries for energy and bioplastics, solar, battery and other environmentally friendly technologies.
Finding venture capital is a matter of securing the right fit between founder and funder, writes the author. Affinity with a investor helps, such as pursuing groups that finance the type of company that yours is, such as a minority- or female-led firm; also necessary is a plan outlining your company's financial prospects and a pitch for convincing investors that you can execute, the author notes.
Heidi Roizen is a managing director for Mobius Venture Capital. She joined the fund in April 1999. Ms. Roizen serves as a director of AuctionDrop, Ecast, InStoreCard, MessageCast, Perpetual Entertainment, Planitax, and
Reactrix. She is also a board member of the National Venture Capital Association (NVCA). Her notable prior board service includes Great Plains Software, which was acquired by Microsoft in 2001. Prior to joining Mobius Venture Capital, Ms.
Roizen was a consultant to numerous technology companies, including Microsoft, Intel and Compaq. From 1996 to 1997, she was vice president of Worldwide Developer Relations for Apple Computer. Before joining Apple Computer, Ms. Roizen
served for 13 years as CEO of T/Maker Company, a successful software developer and publisher. She is a past president of the Software Publishers Association and has served as a public governor of the Pacific Exchange. Ms. Roizen has been
recognized as one of the 100 most influential people in the microcomputer industry by MicroTimes, Personal Computing Magazine and Upside Magazine. Ms. Roizen has a B.A. and an M.B.A. from Stanford University.
Venture capital firms consider key variables in your business plan before committing capital to the project. Prepare your management team to answer the questions discussed here. This article also explains the securities and documents that result from venture capital negotiations.
The legal documents included in a Private Placement Memorandum give potential investors necessary information about your company, the terms of the securities being offered and the risks of buying and holding them. Here's how to put it together.
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