#startups

Channel Your Inner Unicorn: Lessons from the $1B Market Cap Club

If you’re at the helm of a fast-growing startup, you may have wondered if your innovative project has what it takes to become a unicorn. A unicorn startup is a private company with a value over $1 billion. The chances of achieving this type of success are improbable, but the right business model and management skills make reaching unicorn status more likely. Here are some business tips and advice from founders of unicorn startups who have taken their company all the way to th

What Is the Best Tech Bank for Financing Startups?

Embarking on the entrepreneurial journey – taking an idea and turning it into a growing business – takes guts. This long road to success is not as glamorous as the average person might assume. In fact, it’s often a rollercoaster ride filled with ups and downs, amidst a sea of stress and unknowns. And for the software-as-a-service (SaaS) entrepreneur seeking funding, all this gets compounded by the reality that most banks won’t fund SaaS companies. That’s because SaaS companie

The Importance of Domain Names in Web Presence Management for Startups

As a tech entrepreneur with a growing business, you want the right people to hear your message. Promotional efforts tend to focus on working with the press and PR companies, to feed your story to relevant publications. However, you must think beyond that. When someone’s read about what you do and wants to find out more, where do they go? If they decide to get in touch via email, how will your response look? In my years working as a journalist, technologist, and in a previous

SaaS Finance 101: Funding for Startups That Are ‘Non-VC-Compatible’

While getting VC funding has long been touted as the ultimate goal — and a mark of pride — for tech startups, founders are increasingly skeptical that this is the best (or at least only) way to grow a company. VC firms are notoriously grabby — entrepreneurs trade a substantial ownership stake of their companies for access to VC largesse. A Shift Toward Bootstrapping More and more SaaS founders are recognizing that bootstrapping their company to a certain degree is not only po

Why Fast Growing Startups Can’t Ignore Good Old Fashioned Bookkeeping

Startup founders have a million things on their minds: building a product, hiring a team, raising money, getting that early traction, figuring out how to scale, or frantically throwing water on whatever metaphorical fires are inevitably burning. Compared to those things that are clearly existential in importance — failure on any one can be the end of your company — keeping accurate books can seem a bit mundane, and something that a founder can outsource and call it good. But

Why Audience Testing is an Important Step in the Tech Startup Naming Process

After you have dedicated hours or even days of your time brainstorming names and crossing off every possibility, you have at last found the ideal startup name. Or, at least you think it will work for your SaaS startup. When naming your tech startup, you have to think beyond what you as the entrepreneur think of the name. It’s always a good sign if you like it, and it’s even better if your team likes it, but when push comes to shove, the only audience’s opinion that really mat

What is Seed Money and How to Find Angel Investors

If you’ve been following this series closely with your own startup, it’s very possible you already have a functional prototype and a business plan, but your initial money is almost gone and you’re ready to start raising some real money. There are several natural questions that come up at this point. Where can I find the money I need? Who do I need to hire in my company at this stage? And how much money should I raise? In a previous article, I explained when to hire your first

Going Global: Translation and Localization Tips for Startups

In the early stages of your business, you are most likely targeting customers in the United States. But as you grow, you may want to increase your reach internationally. It is said that you should buy in your own language, and sell in the language of your customer. This requires you to localize your website, your promotional material, and your sales platform. Localization should not be taken lightly, and is not something you can do on the cheap. It makes the difference betwee

Strategies for Raising Capital to Build a Startup Team

What to Consider Before Raising Capital Bringing on New Partners in Exchange for Funding A word of caution here is appropriate, because I’ve seen it happen a ton of times. Do not bring on a “partner” at this stage just because they have some money. Too often you have a great idea and you talk to people about it; and then, someone steps up and tells you they want to be your business partner and they will fund you in this very early stage. They don’t have any specific expertise

Starting a Company? Here’s What to Do First

Every entrepreneur has questions when starting a company. There are several sets of questions that every startup entrepreneur will face in the early days of starting a company. Typically the first question when starting a company is, “What do I do first?” Others questions include, “When do I start hiring? Who do I hire first and what do I pay them? When do I start thinking about raising money, and from whom?” While there are no standard answers to any of these questions when

8 Principles to Build Attractive, Realistic Financial Projections for Startups

All investors want to know where your business is headed and how their investment will help you get there. You should present attractive yet realistic financial projections when raising capital. The important thing is to approach it like you are telling a growth story about your business and make sure you can back up that story with data and analysis drawn from your financial statements. Build your projections based on the following principles, and you will be on your way to

10 Ways to Create a Human-Friendly Office

Some startups may get off the ground in a basement or garage, but once your business is big enough to have an office, it’s important to not just toss together a bunch of desks, chairs, and computers. Your office is where your company makes its money, and the office should be a comfortable, welcoming environment. Want to make your office a happier place for your employees? Whether you have cubicles or an open-plan office space — both of which have their drawbacks — or private

5 Tips to Help You Hire for Your Startup

Hiring for your SaaS startup can be surprisingly tricky. How do you find someone who’s qualified, a good match for your company culture, and suited to the role, all while keeping diversity issues and the bottom line top of mind? It’s a tall order, but with a little planning, you can certainly find your way to hiring just the person for the job. It’ll help to follow these tips for hiring for your startup. 1. Use technology First thing’s first—don’t try to manage this process b

Why Transparency is so Critical for Startups

“A Leader Struggles to Sell Software Meant to Aid Sales,” read the August 2014 New York Times headline about Matthew Bellows, founder and CEO of Yesware, Inc., a company that makes email tools for salespeople. Revealing his struggles to a reporter was a moment of vulnerability for Bellows. But such openness is part and parcel of his management approach, which prizes extreme transparency as a way to encourage a thriving company culture. “One of the reasons for The Times piece

The Startup’s Guide to Hiring a Lawyer

Startups tend to have “DIY” in their DNA. Founders are likely to find themselves changing the copier toner or fixing a leaky faucet in the moments between updating the business plan and meeting with a prospective investor. Most entrepreneurs are clever and dedicated, but when it comes to legal matters, DIY doesn’t cut it. Smart startups hire themselves a lawyer. There’s nothing simple about business law. Even the seemingly basic stuff can be deceptively complex. Should you fo

5 Ways to Maximize Your Startup’s Valuation

Your startup valuation is essentially what investors think your company is worth, which has a huge impact on your company when you raise money. The higher your valuation, the less equity you have to give up for a particular dollar-amount of investment. Here are five tips for maximizing your company’s valuation in the eyes of investors. 1. Choose your team wisely Investors aren’t just backing your product—they’re also backing a team. What is your team’s track record? Do they h

Get Funding Fit, Tip 1: If You Can Tweet, You Can Meet

Two weeks from now, millions of people will join a gym in the yearly quest to work off all that holiday weight. We’re all in favor of getting in shape, but we can’t help you with personal fitness. We can, however, help you get your company get in better shape. If your mantra is new year, new capital, new growth, then you’ll want to tune into our new ten-week series on helping your company get funding fit. Increasing your funding fitness will increase your chances of securing

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