Category: Finance

Burn That Business Plan

🔥Burn That Business Plan🔥 There. I said it. You can thank me later. I talk with way too many founders who believe that if they just spend weeks and weeks researching, writing, and proving with financial charts the projected success of their startup, that it will actually come true. I hate to tell them, but …

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Millennial Investing – is our myopic investment thesis affecting ROI?

As a Millennial, now turning 33, I, along with 75 million fellow U.S. Millennials have finally arrived in our growth-focused 30s. No longer 22 and care-free, degree holding, free spirited youths, we now have an objective – namely to “set ourselves up” for our 40s and beyond. In that thread, we have evolved into career …

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Reagan Pollack

3 days 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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