Capital raising for SMEs & start-ups
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All things capital raising for SMEs and start-ups
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Start-ups fail because of people problems, says Harvard's Noam Wasserman

Start-ups fail because of people problems, says Harvard's Noam Wasserman | Capital raising for SMEs & start-ups | Scoop.it
Noam Wasserman has spent over a decade analysing the impact founders' decisions have on start-ups. The Harvard guru's research has resulted in the bestselling book The Founder's Dilemmas:... (startup failures.
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Million Pound Startup Competition Invites Australian Tech Start-ups To Receive £1 Million

Million Pound Startup Competition Invites Australian Tech Start-ups To Receive £1 Million | Capital raising for SMEs & start-ups | Scoop.it
Australian start-ups are being encouraged to enter a global competition called the Million Pound Startup, which will award £1 million ($1.55 million) to a technology company willing to relocate to London.
Tony Pittorino's insight:

Forget the £10 pound poms of the 1950's - this is real capital - the £1 million aussies of 2013. This is the amount that the UK is putting up to lure technology comanies from around the globe. Worth a punt for sure!

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Stupid mistakes every start-up owner makes

Stupid mistakes every start-up owner makes | Capital raising for SMEs & start-ups | Scoop.it
Don't kick yourself for stuffing up. Read this instead.
Tony Pittorino's insight:

Start-ups need to be laser focussed. Drifting outside some fundamental areas can jeopardise your success.

 

David Wilson looks at some insights of stupid mistakes made by start-up owners. This is a no nonsense review with some simple but great takeaways.

 

In a nutshell:

 

1. Sales: not devoting enough time to sales. Yeah, you gotta get out and sell!

 

2. No homework: don't sell the market what you think the market wants, sell what the market wants -do your research!

 

3. Hooked on novelty: unique ideas are just a starting point, not the be-all and end-all. There is so much more to your business.

 

4. Too much tinkering: don't keep on tinkering. Settle on something and get on with it.

 

5. Product worship: Great product - "build it, and they will come" attitude is a fatal mistake. It may happen rarely. You need to market, sell, market, sell!

 

6. Dazzled by capital: capital is just the beginning. You have to return value to your investors.

 

7. Marketing over-spend: spend only on what works. Be super critical and analytical of marketing spends.

 

8. Fantasy figures: anyone can sit up until 2:00am in their pyjamas making incredible spread sheets. Make sure the numbers are real!

 

9. Name game paralysis: don't over-think it.

 

10. No website: really!

 

The article really resonates with me as I have certainly made these mistakes on different occasions.. I am going to keep this list close for future reference.

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Selling or Funding A Startup? Tips On Surviving Technical Due Diligence

Selling or Funding A Startup? Tips On Surviving Technical Due Diligence | Capital raising for SMEs & start-ups | Scoop.it
The following is a guest post from Karl Treier. Karl is a serial entrepreneur, currently with ProspectStream and SaaS Capital. He currently blogs at
Tony Pittorino's insight:

Karl Treir is a serial entrepreneur. 

 

In his guest blog post in onstartups - http://onstartups.com he outlines a few tips for survivig technical due diligence.

 

They are;

 

technical vitality - the excitement & passion that the technical leaders exude about their business

is the technology scalable - what happens when the business is 10x or 100x or 1,000x?

ability to maintain (technically) what you are doing - process, process, process, qa, qa, qa etc

continuity of resources - how do you keep things going in the event of a disaster?

 

It's a fascinating read, and anyone facing due diligence with their technology start-up will gain a lot from this article.

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It's a Marathon, Not a Sprint: The Real Reason Start-ups Fail

It's a Marathon, Not a Sprint: The Real Reason Start-ups Fail | Capital raising for SMEs & start-ups | Scoop.it
Ask 10 entrepreneurs why startups fail and you'll get 10 different answers. But there's just one simple cause underlying all of them.
Tony Pittorino's insight:

This is a great piece. Concise and easy to understand. Start-ups should look for the tell-tale signs of potential failure. And address them immediately.

 

The article tells us to look out for these:

 

- They don't solve a big customer pain point way better than other solutions.
- They invent technologies, not products.
- The target market's too small or just plain wrong.
- Their burn rate's too high.
- They try to shoestring it and run out of cash.
- They can't scale.
- They lack of focus.
- Their cofounders clash.
- There are no competitive barriers.


We have all seen start-ups that are guilty of one or two, or even more of these points. 


Just yesterday I came across a company where there were co-founder relationship issues.


Address them immediately or you are setting your business up for failure.

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DIY Resources for Your Startup

DIY Resources for Your Startup | Capital raising for SMEs & start-ups | Scoop.it
When I started my first technology company back in 1997 there was precious little in the way of DIY help. Essentially, I had to learn to markup html and build my own website from scratch.
Tony Pittorino's insight:

A great set of ideas for any start-up. I have personally used Theme Forest and eLance both of which are a tremendous resource. I also trialled Video Rascal. Nice but needs more templates and the possibility to add some of your own images.

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Election policy wishlist from Australia’s start-up sector

Election policy wishlist from Australia’s start-up sector | Capital raising for SMEs & start-ups | Scoop.it
This election campaign, both Kevin Rudd and Tony Abbott will make promises across a range of policy areas – some they might even keep. Here are the key issues that matter to Australia’s start-up community.
Tony Pittorino's insight:

What are Australian #startups looking for from their next Australian government? #auspol #ausvotes

 

3 figures in the Australian #startup scene suggest the following:

 

- Employee share schemes: John Dyson, Starfish Ventures

- Funding & asistance: Greg Burnett,Gold Coast incubator Silicon Lakes 

- Educate computer engineers: Tim Fung, founder airtasker

 

When PWC suggests that Australian tech start-up sector has the potential to contribute $109 billion or 4% of GDP, then all ideas are well worth considering. 

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8 Things VCs Think About When Valuing Your Startup - Mashable - Mashable

8 Things VCs Think About When Valuing Your Startup - Mashable - Mashable | Capital raising for SMEs & start-ups | Scoop.it
8 Things VCs Think About When Valuing Your Startup - Mashable
Mashable
Before you take money from a venture capital firm, you'll agree to a valuation — how much your startup is worth. That valuation will also affect how much of your company you own.
Tony Pittorino's insight:

Some tips from Mashable - what do VC's look for when valuing a business? Do you have any more?


Here is a summary:


1. Competition, or Demand:

 

2. Growth: just potential growth or can you show the growth.

 

3. Opportunity: how big is it?

 

4. Revenue: revenues are gold for startups

 

5. Founders: credibility and ability, founders count.

 

6. Other Investors: good to have them on the books, or at least ready to sign-up when others commit.

 

7. Accelerators or Incubators: can show the VC the track record of success of start-ups in the incubator.

 

8. Story: compelling, passionate

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A Business Plan That Will Win Capital: 5 Steps

A Business Plan That Will Win Capital: 5 Steps | Capital raising for SMEs & start-ups | Scoop.it
Raising that vital capital depends on how well you execute five steps to create a winning business plan. (A Business Plan That Will Win Capital: 5 Steps: Raising that vital capital depends on how well you execute fiv...
Tony Pittorino's insight:

 

It's never easy raising capital but here are 5 steps that may assist:

 

1. Pinpoint the core issue - what is the core issue. There are many things that distract, so focus on hat matters.

 

2. Analyze the options - once you have discovered the core issue what are the various options available, then choose the most appropriate.

 

3. Define the strategy - you have your option, now what's your strategy?

 

4. Make the case - how do you convince your potential investors? It's about selling you, and how you are going to lead, motivate and deliver the strategy.

 

5. Detail next steps - action - who, when, why - cost/benefit.

 

Happy hunting.

 

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Starting a Company? 3 Things You Can't Mess Up

Starting a Company? 3 Things You Can't Mess Up | Capital raising for SMEs & start-ups | Scoop.it
Few start-up founders are clear-minded enough about three non-negotiable fundamentals.
Tony Pittorino's insight:

Take heed. Again, simple but powerful ideas.

 

1. Get the team right. A must do.

2. Find a profitable, sustainable market. Yes!

3. Get out of start-up mode. Scale, scale, scale. Fight your way out.

 

Good luck with your start-up.

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Why you shouldn’t keep your startup idea secret - Chris Dixon

Why you shouldn’t keep your startup idea secret - Chris Dixon | Capital raising for SMEs & start-ups | Scoop.it
Why you shouldn’t keep your startup idea secret - Chris Dixon http://t.co/e1wzskkh9D #spreadtheinnovationlove
Tony Pittorino's insight:

Don't tell anyone! Really?

 

Startup companies come to me and can't tell me what they are doing, not even the market they operate in or a broadbrush picture of the opportunity. For me it is about having a solid idea backed with proof of concept validation and then get out there, and market it, to investors, consumers and users. The more you can get out there and enthuse the market, the more chance you are going to be successful.

 

If your idea genuinely needs protection then do it in ways that you have control over - patents, trademarks, trade secrets and know-how. Doing things under the cloak of secrecy breeds suspicion, lack of trust and lack of interest.

 

There may be situations that from a strategy point of view you may want to keep a lower profile; however generally to build your business you will need to enrol others, motivate and inspire.

 

Get out there and shout about your business, tell the world. Now.  

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Raising capital? Here's why it's never too early to start building buzz [VIDEO] - Anthill Online

Raising capital? Here's why it's never too early to start building buzz [VIDEO] - Anthill Online | Capital raising for SMEs & start-ups | Scoop.it
One of the first challenges of any new venture is deciding when the time is right to tell your family, your friends, investors, prospective customers and anyone who'll listen about your grand plan....
Tony Pittorino's insight:

This video has been used by the Australian Small Scale Offerings Board (ASSOB) to demonstrate the importance of starting a movement. You believe, you have to make others believe and then they will follow. The more followers that you have the better chance of capital raising success. For a free online assessment, visit here: 

 

http://www.nexttrack.com.au/capital-raising/capital-raising-are-you-ready/

 

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