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Category Archives: Business

Tips to Build Relationships with Investor

build-relationships-with-investorBusiness enterprise is diligent work. I’ve been in the trenches of establishing innovation organizations since 2001 and have brought over $40 million up in subsidizing for my two organizations SVOX and Pixability. I’ve discovered that one of the hardest parts of business enterprise is dealing with a financial specialist’s desires for you and your organization. Be that as it may, through clear, genuine, and successive correspondence with financial specialists, you as the business person can guarantee the proceeded with their backing of your vision.

Here are tips to build relationships with investors :

# Prep well

Managing investor expectations begins with preparing well. Your business model should dissect the market in depth. It can be difficult, but investors will expect your model to be thorough in estimating your addressable market. For example, investors get irritated if you claim to be going after a billion-dollar market and then claim “we only need to capture 5% of the enormous market” without showing what 5% of the market you will concentrate on.

# Don’t communicate when you are down in the dumps

When communicating with investors, it’s important to be clear and level-headed. As entrepreneurs, we’re often riding the emotional ups and downs of the “entrepreneurial roller coaster.”

But when managing investor expectations, the tone of your reports should be steady and honest. Also, take care to address what you’re going to do to improve your business. At Pixability we learned a few years after our founding that our video marketing data was actually more useful and monetizable when we used it to place video advertising. That was a scary pivot into a – for us – unknown market but our investors backed the change because we had frequently communicated our thinking along the way. Investors won’t be disappointed if you have to change direction as long as you don’t change direction every week. While you’re keeping your investors informed, don’t forget about courting new investors for the next investment round. Prospective investors want to understand how your company is evolving long before you ask for their money.

# Don’t expect a check immediately

Don’t expect a check after the first meeting, or even the next. Investors are trying to get a read on you and how you conduct your business. When meeting with investors make sure to listen and write down their input. When going out for fundraising, I’ve always adhered to the maxim “ask for advice first, money second.” You don’t have to take all of their advice, but if you do, thank them for it — people love to hear that their advice was valuable. Then keep that conversation going. At Pixability, I kept in touch with an investor for 3 years (since our A round) before they eventually invested in our $18 million C round.

# Once the money hits, the management doesn’t stop

Once an investor cuts that check, managing expectations only becomes more critical. Get in the habit of updating your numbers regularly. It’s never too early to be disciplined about your company’s metrics — not only are they important to you as a benchmark of progress, they’re important to your investors as well. Also, while sharing good news with your investors is essential to managing expectations, it’s important to report difficulties as well. For example at Pixability, I maintain communications with our largest investors with frequent calls plus a monthly written investor check-in, with a rundown of what’s working and what’s not.

# Boil it down

However, investors don’t want to get into the weeds immediately — you first need to be able to describe your business potential succinctly. By coming to the table prepared with a detailed, comprehensive business model, but one that you can summarize effectively, you can manage how investors begin to think about investing in your company.

# Be clear when you will need more money

Lastly, clear and frequent communication is important when you need more money. Start fundraising early, at least six months before you need the cash. Nothing is worse than having to turn to investors with no runway left. By staying proactive in understanding and communicating your runway, you should be able to jump start the next phase of fundraising.

Do These Things before Start Business

Firstly, congrats on choosing to get required in the energizing universe of business! Beginning another business with no experience is not something to fear, on the grounds that the achievement of business people comes from how experienced they are as well as from the way that startup proprietors are typically roused, energized, and persevering! For whatever length of time that you have a drive to succeed and you will invest the energy and exertion, the way that you won’t not have related knowledge will doubtlessly not be an issue! Here are a few tips with regards to beginning your business:

# Do your research.

Probably the most important thing you need to do before starting your own business is to do your research. Make sure you know that there is a market for your product/service, that there will be demand for it once it’s launched. You need to keep in mind what the market conditions might be at the moment and whether this is the right time to enter the market. Know your competition! Are you about to enter a monopoly, oligopoly, or a perfect competition market? What are your competitors’ strengths and weaknesses? In fact, what are your product/service’s strengths and weaknesses? Is there a Unique Selling Point of your business idea? All these questions require extensive marketing research in order to make sure you have an idea that could turn out to be profitable.

# Don’t forget the legalities.

This part of starting your own business is just as important as any other! From employment contracts for your staff to terms and conditions for your website, it is essential that you follow the law when setting up everything because you don’t want your energy and resources to get diverted later on. Here at Linkilaw, we understand that it might be difficult, expensive, and time-consuming for startup entrepreneurs to hire legal help or to try to get ahold of all the relevant documentation themselves. That is why we have a Free Legal Health check which we can conduct with you on the phone/online and then point you into the right direction for everything you will need in terms of legalities.

# Pick the right location.

“On one hand, national policies on entrepreneurship and current economic tidings of some countries can be extremely friendly and encouraging towards business owners. On the other hand, the legislation and regulatory procedures of some other countries can grind your company to a halt in no time.” Check out this article for some great ideas on startup locations.

# Prepare a kick-ass business plan.

“A business plan is an essential ingredient of any successful business. Essentially, it’s like a blueprint of your future business, what it will look like and what it will entail. Many businesses don’t have a business plan at all, and this is a fundamental flaw you must avoid. In fact, a business plan should be considered as an absolute necessity for business success.” Read why the backbone of a successful business is a well-written business plan here.

# Hire the right people.

Okay, so you have a great idea that you’ve researched and you’ve concluded that is potentially very in-demand and profitable, and you’ve got a great location and a solid business plan. But what are all these things good for if you don’t have a team of people ready to work hard and spend their energy on converting your idea into reality? It is especially essential for startups to hire the right staff that fits their company values and is ready to get onboard for the adventure!

 

Business Inspiration Blogs in Asian

Learning never stops for an entrepreneur. There is always something new to be discovered while running a business, interacting with customers and fellow start-up founders, and reading books—or in this day and age, blogs.

Here are four interesting blogs Southeast Asian entrepreneurs should check out:

# http://www.asianefficiency.com/blog/

What began as an inside joke among a group of Americans, having noticed how their Asian friends were able to accomplish incredible amounts of work, turned into a blog about “Asian efficiency.” It does, however, stress that productivity has little to do with being Asian and more about having the right rituals, mindsets, and systems. In a recent series of posts, for instance, the blog features an “Inbox Zero Challenge,” which aims to reduce the time you spend on your inbox and give you the tools to process your emails every day minus the stress.

Why is it a must-read : Everybody —multi-tasking founders included—appreciates helpful tips on productivity and time management.

# http://guykawasaki.com/blog/

Guy Kawasaki is a marketing specialist, Silicon Valley venture capitalist, and author of 13 books. He popularized the term “evangelist” as a business buzzword during the Internet boom in the nineties. Basically, an evangelist explains to the world how a product and service can improve people’s lives. The chief evangelist of Canva, an Australia-based online graphics-design company, writes about issues start-ups are confronted with, such as how to pick the right advisors, the art of branding, and tips on how to give the best presentations possible.

Why is it a must-read : Kawasaki offers lessons that can take your start-up off the ground.

# https://steveblank.com/

Silicon Valley serial-entrepreneur and educator Steve Blank talks about a full range of topics—from things that make entrepreneurs tick, why working hard is not the same as working smart, to why the U.S. Navy is in need of disruption. He co-authored “The Startup Owner’s Manual: The Step-By-Step Guide for Building a Great Company,” which offers instructions on how to create scalable, profitable startups. Forbes listed Blank as one of the 30 most influential people in tech in 2013 and was listed as one of the Masters of Innovation by the Harvard Business Review in 2012.

Why is it a must-read : Blank’s insights on what it takes to build a start-up are complemented by those of other entrepreneurs from a variety of industries.

# http://sethgodin.typepad.com/

Seth Godin is an entrepreneur and the author of 18 bestselling books, such as “Linchpin: Are You Indispensible?” and “Tribes: We Need You To Lead Us.” Godin’s posts give readers advice on a range of topics, such as marketing, managing organizations, and even reviewing contracts. He also raises questions to keep entrepreneurs on their toes, for instance, why it takes more than being right to earn attention and action.

Why is it a must-read : Godin inspires his readers to build remarkable products, embrace change, and view dead-ends and failures more positively. After all, he says, we find our way by getting lost.

Know More about The Art of the Deal

I frequently say that in the event that I’d done what I adored, I would have contemplated history. With a little fortunes I could be nestled into now in a book-lined office that ignores a verdant school quad, opening the entryway a couple times each week for available time and to make rough commitments at departmental gatherings.

Rather I began an organization, and I read history at whatever point I can. It’s shown me a considerable measure about working together, particularly about what I may call, in this race season, The Art of the (Fair) Deal. I thought it may be a decent time to share a couple of lessons I’ve found out about arranging. I considered showing them as a “match the notable occasion to the lesson(s),” yet hello, I’m not a teacher.

The Treaty of Tordesillas, 1494: Many Americans have never heard of this, but it’s how Spain and Portugal, with the help of the pope, divided up the New World that explorers like Christopher Columbus were actively “discovering” back in the day. They drew a straight, north-south line that ran through the Atlantic and sliced through Brazil; Spain got everything west of the line, Portugal everything to the east. The trouble is, nobody else was consulted, and neither conquering country knew exactly what or how much land existed in either direction. The lessons here: Know the territory. Have a clear idea of your own boundaries and interests and, especially, those of the other side. And don’t exclude any interested parties.

The 3/5 Compromise, 1787: This deal, which declared each slave as 3/5th of a person for the purposes of congressional representation, serves as a sterling reminder to treat everyone in a negotiation–and at every other time–as 5/5ths human.

When it comes to a deal, whether it’s to acquire another business or negotiate a contract with a supplier–or even an employee or customer–too many people view it through the distorted lens of winners and losers. But from my perspective, if both sides don’t come away feeling they got most of what they wanted, then neither side can claim victory.

The Purchase of Alaska, 1867: This U.S. deal to buy Russia’s Alaskan territory–586,000 square miles for $7.2 million–was nicknamed Seward’s Folly by its opponents, after Secretary of State William Seward. They thought the price exorbitant for mosquito-infested frozen swampland. Thirty years later, the Gold Rush was on and the rest is history. This just goes to prove that, in terms of dealmaking, it pays to take the long view. And don’t listen to the naysayers when your instincts tell you otherwise.

The Treaty of Versailles, 1919: The Allied Powers had Germany over a barrel at the end of “The Great War,” and the terms of this agreement, from reparations to territory loss to military restrictions, reflected that. It made lots of Germans very, very mad–one in particular (see Munich, above). The lesson from this? Don’t treat the people you’re dealing with like they’re Germany and it’s 1919. They’ll hold a grudge the size of Western Europe.

The Munich Pact of 1938: This “deal,” which permitted Adolf Hitler to annex a big chunk of Czechoslovakia, offers several valuable lessons about dealmaking. Widely viewed as one of the most egregious examples of appeasement in modern history, it’s perhaps best known for the famous last words “peace for our time” uttered by British Prime Minister Neville Chamberlain. Less than a year later, poor Neville was declaring war. So what can we learn from the Munich Pact? Rule 1: Never negotiate with a megalomaniac, or any other kind of maniac, for that matter; which is related to the subrule: Know who you’re dealing with. And Rule 2: Whatever you do, don’t brag about the deal. Your boasts (or wishful thinking in Chamberlain’s case) might end up being all you’re remembered for.

Simply put, if it’s not a win-win, then it’s not a win.

Business Writing, Here Its Tips

I took numerous written work classes in school however maybe the most valuable was one centered around business composing. My schoolmates and I spent a semester altering a great many examples of drifting or confounding letters, updates, and other expert materials. Here are seven bits of basic guidance for clear and brief written work.

# Avoid “very.”

It smacks of laziness and indicates your sentence needs editing to pack a stronger punch. For example, consider: “The very tall man strode to the front of the line.” The phrase “very tall” doesn’t help a reader understand if the man is six feet tall or having to duck seven-foot doorways. How about: “Standing a head taller than everyone in the room the man strode to the front of the line.” The second version paints a better picture, right?

# Limit prepositions when possible.

If you don’t remember what they are, here’s a list and primer. When overused, prepositions can weaken writing and contribute to wordiness. For example: “The meeting on December 1 about the budget” is sharper when written “The December 1 budget meeting.” Also watch out for prepositions following a verb, such as “come up with” or “find out.” Instead, you could use “generate” or “determine,” respectively.

# Watch out for forms of the verb “to be” such as am, are, is, was, were, being,and been.

Usually you should aim for an active, not passive voice. “There are three things you can do to improve your golf game” is tighter when written “three things can improve your golf game.”

# Limit emails to five or fewer sentences.

“Seriously. I know it’s painful. You have so many important things to say. However, getting it read is more important than getting all that explanation in there. Preferably, it’s three sentences. Your goal is to make it easy for [a recipient] to respond immediately from his smartphone,” advises 42Floors founder Jason Freedman.

# Don’t try to impress with jargon or big words.

 Use exclamation points sparingly.

Overusing them reduces their impact. And never use more than one at the end of a sentence.

“Elmore Leonard wrote of exclamation marks: ‘You are allowed no more than two or three per 100,000 words of prose.’ Which means, on average, an exclamation mark every book and a half,” points out Stuart Jeffries of The Guardian. “In the ninth book of Terry Pratchett’s Discworld series, Eric, one of the characters insists that ‘Multiple exclamation marks are a sure sign of a diseased mind.'”

# Read it out loud.

Before delivering your writing to a recipient, read it out loud. Doing so will likely oust any typos, missing words, or other errors you may not have spotted.