Month: October 2019

Time Management - Reagan Pollack

The Secret to Startup Time Management

Knowing what to work on when, is at the crux of successful startups. Well, no one ever told me that starting a business can be broken down into 3 key areas. It seemed like it was all happening at once, in a giant hairball of a process, and it was virtually impossible to figure out …

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How Much Is your Stock Worth - Startup Tip of the Day - Reagan Pollack

How Much Is Your Stock Really Worth?

Startup Tip of the Day   One of the most confusing areas for first time founders is managing the capitalization table, often referred to as the “cap table”.   The cap table outlines all equity owners, the percentage of ownership of stock, debt or convertible debt (debt that turns into equity at a given date …

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Reagan Pollack

1 month ago

Reagan Pollack
In 2005 while attending Babson College business school, I set out to launch my first internet startup. The vision was to build a platform (back then it was called a web portal) that would connect the music industry and expedite artist discovery (A&R), facilitate new business deals, and bridge the fragmented music business ecosystem. The goal was large, but in order to accomplish it, without prior experience nor significant connections, I broke the mission down into manageable tasks and chunks. This not only helped lay the foundation but also helped me to prioritize which elements would be needed first and subsequently.At graduation, I headed back to Silicon Valley and began my adventure full steam by opening an office, raising capital, and hiring my first ten team members. With a business plan in hand, I had a clear roadmap from an operational and financial perspective, and by spending significant time constructing the website wire-frames, it helped me to better stress test my assumptions with real-world pre-customer feedback. While most of the business plan didn’t materialize the way I had envisioned, it did help me greatly to strengthen my resolve for the vision and gain confidence that the end goal was material. I implore founders today to spend a few weeks writing down their vision and breaking into daily tasks, and the rank them in order of importance - ask yourself “if this comes first, does this unlock value next?” “If this comes next, does this expedite the next phase on my list?” The best (fastest to get to market and grow) entrepreneurs think in phases and are incredible at prioritizing tasks to reach the next tranche of milestones. Being in a startup can be dizzying - there a dozens of potential features to build, hundreds of people to pitch, and time is your enemy. Practicing prioritization - the ability to truly rank each activity by its weight (value) to drive actual traction - will ultimately position your business to win cost efficiently and market effectively. #nostartupleftbehind #entrepreneur #startups #entrepreneurship #founderstory ... See MoreSee Less
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