Feb
21
My first startup was a B2B Enterprise software vendor. In those days enterprise software companies went to market by building a really expensive direct sales force with sales reps and sales engineers out in the field in key cities. We had little visibility into which deals would close when. And we routinely had to replace [...]
Often when I meet new SaaS startups they tell me proudly that they have grown their user base without “spending a dime on marketing”. While that is a great accomplishment and a testament to the quality of the product (product = marketing for great web services), it does lead me to ask why! Did the [...]
Feb
01
Recently a CEO in our portfolio asked me a question that I get often: As a startup with limited capital is it better to be cautious and stretch runway or should you be aggressive and reduce runway? The answer of course is “it depends”.
Jan
10
One of the least favourite things about raising money from VCs is having to deal with board meetings once you’re funded. Most board meetings suck. I’ve sat through my fair share on the company side. To date, as an investor, I’ve tried to avoid them favouring regular informal interactions. But since board meetings are inevitable [...]
Dec
21
As a seed investor our fund likes to invest early: first money in between concept and validation. At that stage and for a considerable amount of time after that, the only things that matter to a startup are product and technology. As a result I have a strong bias towards technical founders. And it is [...]
When we think of startups, we usually picture a core group of (mostly) guys coding in a room with cans of coke or Red Bull lined up. That room might be smelly. No frills. Just getting it done. That’s the stereotype anyway. As a seed investor I certainly like to see no waste in spending [...]
I’m guessing that most everyone who reads this blog uses Dropbox. The four year old company has over 50M users and adds a new user every second! It can be dangerous to use such run away successes as lessons when building your own startup. After all, most startups never achieve this level of success. Still, [...]
I was out for drinks with some startup types in Halifax last night when I was hit with a simple question: “What’s the biggest mistake a SaaS company can make?” Have to say, I thought it about for a couple of minutes. One of the beauties of this business model is that you usually have [...]
Oct
07
So let’s face it: the reason we all start companies is to deal with the paperwork and admin that comes from owning your own business, right? Not. Still, it is a necessary evil and the truth is that running a tight back office goes a long towards helping you build a better business. With that [...]
The term “CEO” conjures up these images of brave, passionate, charismatic leaders setting grand visions and winning the hearts and minds of customers, investors and employees alike. I hate that 3 person startups routinely have someone called “CEO” (kinda seems ridiculous at that stage). But whatever… every organization of any size must have a leader. [...]
Aug
24
Despite the attempts of regular startup bloggers (like myself) to demystify startups into best practices and easy to follow guidelines, the truth is they are never that simple. If they were, I’d just start one. Then another. And another. I’d have no time for blogging and if I’d figured out the secret, I’d probably not [...]
May
09
Chris Dixon had an interesting post recently on Dropbox and the importance of investing in people. There is another potential lesson there about the role of competition in startup success. Chris mentions that when he thought about the founder’s idea for Dropbox his concern was how busy the space already was.
We have an amazing, vibrant startup community here in Canada. And over the years, we have built many great success stories. Platespin, Oz Communications, Bumptop are just a few of the positive exits we have generated. US investors have been active up here for a long time. And with section 116 being repealed (a silly [...]
Feb
01
Pivot” is the new black. Everywhere you turn, people are talking about the pivots their companies are taking. It’s not just limited to the startup World. I was watching BBC news recently where they showed a fun segment of World leaders, including President Obama, talk about pivots. The reason this is word is so pervasive [...]
Jan
11
I joined Kiltr.com a professional social network for Scottish people (and people who just love the Scots) a few weeks ago. As a proud Scotsman (is there any other kind?) I’d love to connect and do business with people from the homeland. Despite that desire, I have to admit that several weeks later, I have [...]
