3 Key Elements of a Healthy Startup Ecosystem

Creating a relevant, sustainable, and successful startup ecosystem, i.e. a healthy startup community, is a very delicate balancing act amongst numerous sometimes competing interests. In this article, I discuss the three key elements for creating and sustaining a healthy startup ecosystem.

Formalizing Relationships with Co-Founders

How to formalize a relationship with a co-founder is a popular topic of discussion. When is the right time? Should you do it at all? What’s involved if you do decide to move forward? In this post, we go over when the right time to formalize a relationship is, why it’s a good idea, and how to do it so you get off to the best possible start for your startup.

Signal, Noise and Priorities

We are bombarded daily by all kinds of information – TV and radio ads, blog feeds, twitter updates, and facebook posts. But is it useful, i.e. is it signal or is it just noise? In this article I discuss what I think is signal and what is noise, how I make the distinction, and what it means to my clients and prospective clients.

How to Save Money on Your Legal Bills

Many startups pay very close attention to their “burn rate,” the rate at which they spend money.  A startup’s burn rate is indicative of how much runway a company will need once it starts looking for outside financing.  One component of the burn rate is legal spending.  Many, many founders lament how quickly and easily they can burn through funds spent on required legal services, such as key customer or partner contract reviews, preparation of funding paperwork and general corporate governance documents.  Below are three major ways which you save some money on legal costs. Be Specific. If you need a contract reviewed or a document drafted, be precise in your instructions to your attorney. …

What’s in Your Startup’s Name?

When the spark strikes and you get that brilliant new product or service idea, you start thinking about how it will work, what will it look like and who will pay to use it. That’s where branding comes in. In this article we discuss the importance of branding the selection of a company name.

Act Autonomously, Live Authentically

When a person decides to launch out on their own to start a new business, the act is often times autonomous.  Being autonomous means to act in accord with one’s self, to act or behave in a manner that is self governing.  If you are acting autonomously you are willing to do whatever it is you are doing and embrace the activity with energy, commitment, and enthusiasm.  While many may argue that your actions are either reckless and ill-timed, or conversely, courageous and visionary, acting autonomously is the best way to start a new venture. In contrast, activities that are not autonomous are controlled.  Controlled actions are taken under pressure and are not a true…

Why Would I Buy From You?

Large corporations, consumers, and even small businesses and startups often times make purchasing decisions based on the size of the service provider or seller.  Why is that?  Does the assumption that bigger is better really hold true?  The answer to that is, of course, no.  Size does not equate to quality or reflect that you understand your customers’ needs. Whether you are a technology startup, a large multinational corporation, a VC, or a lawyer, the service you provide or product you sell is not better because you are bigger, wealthier, or have a readily recognizable brand.  Sure, people may call you more or seek out your services, but that does not make your product or…

What Entrepreneurs Can Learn From the Amish

According to Erik Wesner’s new book, Success Made Simple:  An Inside Look at Why Amish Businesses Thrive, over 95% of Amish businesses are around five years after startup.  That’s compared to 80% for nationwide entrepreneurship program alumni and the nationwide average of 50%.  So what is it that the Amish are doing right? Well, the “secrets” of their success aren’t really all that surprising: 1.  Hard work and long hours; 2.  Strong faith and values; 3.  Family commitment to the business; 4.  Humble leadership; and 5.  Treating the customers well and offering them good value. Whether you are an entrepreneur, a startup, or a high growth company, those sound like values we can all stand…

Seattle: Hotbed of Entrepreneurship

Facebook officially announced this morning that it will be opening a new engineering office in the Seattle area.  As the Seattle P-I reported, where the office will be exactly is up for grabs, although it appears Seattle has a leg up over Bellevue. Not a bad week for Seattle considering that Michael Arrington, the founder of TechCrunch, also announced that he will be splitting his time between Silicon Valley and his new home here in Seattle, in order to “get right in the middle of things.” Facebook is reportedly looking for office space to accommodate up to 30 people and has already begun posting job announcements on its site.  The opening of Facebook locally though…

Three Questions to Ask When Hiring an Attorney

Many of my friends, neighbors, and acquaintances ask me about how to find a good attorney in practice areas in which I do not practice (like family law, estate planning, and defense). The conversation typically turns into some form of referral to someone I know and trust and whom I believe can assist. I suspect many of you out there do the same thing, that is, ask a friend if they have a good lawyer to refer you to instead of searching blindly. But once you get the referral, how do you determine that the individual you were referred to is someone you can trust and work with? Here are what I consider to be…