Friday, August 9, 2013

Why you should be happy when investors tell you "no"



---------- Forwarded message ----------
From: SmartBrief on Entrepreneurs <entrepreneurs@smartbrief.com>
Date: Fri, Jun 28, 2013 at 3:17 AM
Subject: Why you should be happy when investors tell you "no"
To: profjorge.entrep@gmail.com




Online apparel company focuses on U.S. manufacturing | Leadership lessons from Nelson Mandela | Advice for developing financial projections
Created for profjorge.entrep@gmail.com |  Web Version
 
June 27, 2013
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Bold VenturesSponsored By

Online apparel company focuses on U.S. manufacturing
Bayard Winthrop, CEO of American Giant, is building his apparel company with a focus on high-quality products and made-in-the-USA manufacturing. The company's signature product is a new take on the classic hooded sweatshirt featuring enhancements such as a fitted shape and just the right amount of spandex in the cuffs. "It's the ubiquitous American silhouette, and nothing in the category stood out," Winthrop said. Entrepreneur magazine (7/2013)
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Leadership lessons from Nelson Mandela
With Nelson Mandela battling a severe lung infection, Jena McGregor looks to the South African icon's past interviews for insight on his leadership style. Mandela knew the power of words and symbols in inspiring followers and winning over enemies, but he also believed that leadership was ultimately a way of serving others. "What counts in life is not the mere fact that we have lived. It is what difference we have made to the lives of others that will determine the significance of the life we lead," he said in 2002. The Washington Post (tiered subscription model)/On Leadership blog (6/24)
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Why you should be happy when investors tell you "no"
Hearing the word "no" from an investor can actually be a good thing because it allows you to stop wasting time and begin the search for a new funding opportunity, writes Brian S. Cohen, chairman of New York Angels. Listen closely if an investor tells you why he or she has decided not to fund your startup, and don't take the explanation as an opportunity for debate, he writes. VentureBeat (6/26)
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Advice for developing financial projections
Preparing financial projections provides entrepreneurs with an opportunity to show investors that they understand their businesses, writes Paul Lee, partner at Lightbank venture capital firm. Often, understanding the financial drivers is more important than the actual projections, he writes. Identify all of the assumptions you have made in preparing your projections, and use conversations with investors as an opportunity to gather feedback. YoungEntrepreneur.com/Young Entrepreneur Council (6/26)
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Is it time to adjust your mindset?
It's time to re-evaluate your thinking if you tend to overgeneralize or refuse to listen to what the market is telling you, writes Eric T. Wagner. "Yes -- [it's] important to have confidence and tenacity as an entrepreneur, but not to the point of delusion," he writes. In addition, avoid making wild assumptions or letting negative emotions cloud your reasoning, he writes. Forbes (6/25)
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Helpful experiences before launching a company
Before launching a startup, it's a good idea to get a mentor, save some money and learn the fundamentals of accounting, entrepreneurs say. "Anyone starting a business should understand the lines on a balance sheet, how they relate to the P&L and how to calculate critical cash flow metrics," according to Ryan Buckley of Scripted. The Huffington Post/Young Entrepreneur Council (6/24)
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All-nighters don't make you more creative
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10 reasons your business plan won't succeed
Many business plans have baked-in flaws that guarantee they won't deliver the desired results, writes Bill French, who lists and explains 10 common defects. "Business plans that don't incorporate structured, detailed, all-encompassing go-to market plans as an integral part of the planning process are at a high risk of underperforming -- or worse," he writes. SmartBrief/SmartBlog on Leadership (6/26)
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SmartQuote

Time is the most precious resource you have. Don't squander it by pursuing angel investors who will never fund your startup."
-- Brian S. Cohen, chairman of New York Angels, writing at VentureBeat.
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