I recently sat down with Chris Redlitz from Transmedia Capital to talk about his new startup incubator KickLabs and founding teams from his perspective as an entrepreneur (AdAuction, Get Relevant, Aptimus, and On Village), executive (Skyrider, Feedster, Reebok), and now venture capitalist. We discussed what makes a founding team work, potential conflicts of interest between investors and entrepreneurs, and what KickLabs looks for in a company. Chris is also going to be a judge at the Lean Deck Clinic on August 2nd.
T: In your experience, is there a distinct advantage to having a founding team as opposed to being a sole entrepreneur? Continue reading →
Have you ever needed feedback on your investor pitch? Are you in the San Francisco Bay Area?
If you answered yes to both, we’re helping to promote the Lean Deck Clinic being put on by The Lean Coffee Meetup and hosted at the new San Francisco startup incubator Kicklabs. It’s a chance to present your pitch in front of a room of peers, 3 VCs and 3 angel investors like:
If you count Mom and Pop shops, the average entrepreneurial venture requires about $25k in startup cash. Talking to Web 2.0 guys, it seems like everyone is out to raise a couple million to put their plans into action and pay their salaries during early stage growth. I was particularly struck by this article and Nivi’s responses which state you should raise “As much as possible“. I’ve also been advised more than once that I should look to add people to our advisory board who can introduce us to sources of possible funding (in other words: VCs and Angels). For better or worse, we’re bootstrapping for now.
A couple of things have led us to this decision and an understanding of when we’re going to have to change our minds.