How to Deliver the Perfect Elevator Pitch
Everyone knows that if you are a startup, you have to have your elevator pitch down cold. It’s what entices prospective partners, employees and investors. Without it, you have an idea without a voice. In this post, I discuss the elements and content of the perfect elevator pitch, as well as present some examples of what one might look like. Before we get into the content of the perfect elevator pitch, let’s look at the five fundamental... Read More
The First Mover Advantage Myth
An article by Malcolm Gladwell on the creation myth in the New Yorker a week ago got me thinking about innovation and first mover advantage. In business school they taught us that the first mover in a market has certain advantages over other competitors trying to capitalize on the same market, usually because of limited resources or due to the ability to erect barriers to exclude competitors. In the technology industry, entrepreneurs and startups... Read More
What’s in Your Startup’s Name?
I recently read an article in the Bar Bulletin, a print publication of the King County Bar Association, by Jessica Talmadge, the award-winning designer and owner of the graphic design firm, Talmadge. It got me thinking about one of the most important things that startups (and lawyers!) don’t do very well: branding. If you are anything like me, when the spark strikes and you get that brilliant new product or service idea, you start thinking... Read More
Why Startups Fail
All of us have read the statistics about the percentage of startups that fail (and the even smaller percentage that receive venture financing). But why is that? Well, there are two reasons IMHO: Lack of focus and bad decisions. 1. Lack of Focus. How many times have you sat through a discussion with a friend or colleague who walks you through their grand idea for a new product or service and the story keeps going on and on and on? The ideas... Read More
How to Start Up in a Down Economy
Many people find that down economies are often the ideal time to start a new business. When economic conditions are bad, many people look for ways to save money and time doing the things that they would otherwise be doing but for the financial pinch. This spells opportunity for the entrepreneurial spirit. So, what steps do you need to take to seize this opportunity and hang the open sign quickly? 1. Business Formation. The first thing you will need... Read More
How to Avoid Costly Founders Stock Mistakes
You have decided to brave the startup waters and form your own business. You decide that a corporation is the way to go so you file your articles of incorporation with your particular Secretary of State. The articles can be a form you complete online that is provided by the Secretary of State or a document drafted by your attorney. No matter how you choose to file your articles of incorporation, you will need to specify the number of “authorized”... Read More
Tolis Dimopoulos is the founder and managing attorney of Sophos Law, a Seattle based small boutique law firm serving technology, socially conscious, and emerging growth companies. Sophos Law provides part time outsourced general counsel services, as well as seed stage legal and business counseling services.
