Monday, March 10, 2008

Feeding Your Startup

Thinking about a startup? It crosses my mind quite often. The panel on feeding your startup was very informative. It delved into the logistics of finding the money and the crew to take a startup to the next level. 

Chere Heintzmann, chief marketing officer for Walt Disney and venture capitalist, said teams that are passionate and like each other are most likely to succeed. 

Blair Garrou, a venture capitalist, said it is inappropriate for startups to seek venture capitalist money in the early stages of business. Garrou said getting investors involved too early would shift the focus of the company. 

"When the capital comes in, the ears come in," Garrou said. "You end up spending too much time on board meetings that have nothing to do with users or developing your product."

Eric Smith, Unwired nation, said you must have a team that inspires you. 

"Find people who motivate you and compliment your skill sets," Smith said. "The first year of your startup is the hardest. If you have a good team it will make everything easier." 

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