Retail startup rebounds after a rocky beginning | Assess conflict before attacking it | What you need to know about angel investors
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February 25, 2013
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Bold Ventures
Retail startup rebounds after a rocky beginning
Storenvy, founded by Jon Crawford, was accepted into the prestigious startup incubator Y Combinator, but it was kicked out after Crawford's co-founders pulled out of the venture. Crawford persevered with the help of his wife, and the company recently landed a $5 million round of financing. Crawford said networking was key for raising the money for Storenvy. "Investors pay attention to intros from people that they trust," he said. (2/19)
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Leading the Pack
Assess conflict before attacking it
Savvy leaders know it's critical to assess a conflict before attempting to resolve it, Dan McCarthy writes. Conflicts of emotions, needs and values each have to be handled differently, so first determine the type of conflict and then select the proper response, McCarthy writes. Great Leadership (2/20)
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Finance & Growth
What you need to know about angel investors
The advice that angel investors give you can be valuable, but you shouldn't necessarily take it all as gospel, according to Adam Roth, president of StreamLink Software. "They have a lot of good knowledge but probably don't know your business as well as you do," he said. Angel investors will want to hear about the management team you have assembled and your exit plan, according to Clay Rankin, manager of North Coast Angel Fund. (2/22)
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Do your investors' goals align with your own?
Before accepting venture-capital money, it's important to understand that some investors are looking to make a profitable exit, according to Andrew Dowling, founder of Tapestry. "The idea of an acquisition is built in the moment you take on board investment," he said. Another way to raise money is to try to take your company public, but this may eliminate some of the autonomy you enjoy as an entrepreneur. "It's a million bosses, and you don't have a lot of freedom," Dowling said. ZDNet (2/22)
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The Whole Entrepreneur
Challenge yourself to be a better networker
Successful networking happens when you challenge yourself to meet specific goals, such as meeting five new people at an event or trying one or two new business groups a month, according to this edited excerpt from "Start Your Own Business." "The trick with networking is to become proactive. This means taking control of the situation instead of just reacting to it," the excerpt says. Entrepreneur online (2/23)
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Entrepreneurial advice from Arianna Huffington
Entrepreneurs can increase their odds of success by pursuing business ideas that excite them and that match the "spirit of the times," according to Arianna Huffington. It's critical to listen to your gut when making hiring decisions and to remove troublemakers from your organization. "I would rather have somebody much less brilliant and who's a team player, who's straightforward, than somebody who is very brilliant and toxic," she said. The Huffington Post/The Blog (2/22)
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Ideas for Innovators
3 companies with different paths to innovation
Innovation doesn't have to be a one-size-fits-all process, writes Deborah Mills-Scofield. Some companies, such as NBA Math Hoops, are run by youngsters and harness that energy and youth-demographic insight to develop promising products. Other businesses, such as Menasha Packaging, have a pedigree and an ethos of customer stewardship that drives them to improve products and services. (2/24)
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Fortune from Failure
Traps that snare many entrepreneurs
Certain common entrepreneurial mistakes -- infighting and impatience among them -- can stunt your startup's development or lead to its failure, according to Philippe Courtot, founder and CEO of Qualys. Courtot stayed patient with his own company, waiting years for cloud computing to gain popularity before he took the business public. Business Insider (2/24)
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[T]he most successful enterprises are always when the entrepreneur's passion matches something happening in the zeitgeist."
-- Arianna Huffington, as quoted at The Huffington Post.
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