The First Mover Advantage Myth

Have you ever had an idea that you thought was different or unique only to later find out that someone has already done it? Well, take heart. Being first does not equate to being successful. In this article I discuss some of these failed first movers, as well as the legal barriers first mover erect to try and exclude competitors.

When to Formalize An Idea Into a Company

When is the right time to form a company around the idea you have been tossing around? There has always been a healthy debate on when the right time is to quit your job, but not much about when to form a new company. In this article, I discuss the two most important elements in helping you decide the right time.

How to Avoid Mistakes in Forming Your Startup

Thanks to the internet, forming a new company is now quick and easy. Perhaps too easy. As a result, many fail to fully form their new venture resulting in costly clean up down the line. In this article we discuss the key steps in building a solid legal foundation for your new company and the costly mistakes to avoid.

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…

Co-Found or Go It Alone?

The issue of whether you should launch your startup alone or with a co-founder comes up from time-to-time, most recently by Kevin Dick and David Lambert of Right Side Capital, the seed investment fund based in San Francisco.  At a reception held during their visit to Seattle last month, Dick and Lambert indicated that a startup with only one founder may indicate the there is something wrong with the founder or that the founder is incapable of building a team.  This sentiment was subsequently repeated in a blog post by William Carleton and previously on OnStartups.com.   I respectfully, but strongly, disagree with all three.  Here’s why: Too Many Cooks in the Kitchen. You know…

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…