One thing few entrepreneurs realize when they receive angel funding is that the role has changed from salesperson to entertainer.
Post mortem on 2012 predictions:
Here's what I wrote this time last year, and how well my forecasts held up against reality:
I was going over the questions I've been asked as an investor, and questions that I hope/wish new entrepreneurs would ask. And then I considered if there are any questions I would not answer.
There is one question I won't answer.
"Who are my customers?"
Sometimes I know the answer, often times I will have no idea.
But that's not the rationale for not answering.
The reason is the title of this blog.
If an entrepreneur doesn't understand his industry/business well enough to identify the customer, then there's no business to work with/save.
It finally happened.
We are seeing Germany finally decide that they don't want to keep funding the southern europe lifestyle. Spain, Italy,Greace. all the PIIGS and others are being left out. The euro might become a defacto mark within a short time.
Germany and its population has no desire to carry the weight any longer. The Euro existed because countries like Germany and France were willing to let some others slide. The time for that to stop has come.
Here is what I wrote at the end of 2010:
USA Today poll shows most folks won't buy an electric vehicle.
There are fears that folks have on buying electric cars. Valid or not, addressable or not, these are fears people have.
Why can't entrepreneurs exit.
From the NY Times
A couple of elements I noted were:
The entrepreneur realized that selling to investors, meant that they'd be selling to someone else down the road. And he would lose control over the company.
The investors gave some strategic advice, that the entrepreneur decided to implement.
Usually, when the main stream press gets a story, it's over.
I've probably become too specialized in impact investing to really have a good sense any more on the issues/opportunities of internet companies. I don't see the place for that much money.
While it's great that more companies are focused on break even and profitability, not just eyeballs, the lack of exits will still be an issue.
But if things are picking up, it's good news for many folks in the industry.
I'd still be cautious