Fund My Startup

“Worrying is destructive. Worrying slows you down. Worrying makes it harder for you to achieve any attainable goals.” -an unnamed fellow entrepreneur

Recently, an enthusiastic entrepreneur approached me at a networking event to mention that’s he’s working on a “tremendous” new start-up.  He was hoping that I might have a few relevant connections to offer.

Awesome.

Excited to hear about his deal, I pushed for the details.   Unfortunately, he informed me that he cannot disclose anything in too much detail because his start-up is still in stealth mode.  In fact, if I really would like to know more, he notified me that he’d be open to grabbing coffee the following week, at which time I could sign a non-disclosure agreement.

I smiled politely, wished him the best of luck, and moved on to a different conversation.

Pulling simply from the nature of our discussion that day, it’s possible I will never know just how tremendous…

“The most important thing for a young man is to establish credit – a reputation and character.” -John D. Rockefeller

Theoretically, one can logically conclude that being the son of a tech industry veteran provides tremendous networking advantages.  Now living it, I disagree.

For a little background, those close to me know that I have a tremendous amount of respect and admiration for my Dad, Bob Lozano.  It’s not merely because he built and exited a tech venture in the Midwest – which folks on both coasts will argue is virtually impossible – or because he’s founded and persevered through 3 deals.  It’s largely because he ventured out on his own with 8 kids, no money in the bank account, and a fiery determination to simply make it work.  Yes, my Mom is a saint for all she’s put up with .

When I dove headfirst into my first real startup, my network…

Jason Calacanis, Founder & CEO of Mahalo (also known for Silicon Alley Reporter & Weblogs), wrote a must-read for all tech entrepreneurs entitled, “What to Do if Your Startup Is Failing.”  In it, he proclaims that there are 2 types of entrepreneurs in this world: real ones and the folks who play entrepreneurs for some portion of their lives.

Great read .

“All men dream: but not equally.  Those who dream by night in the dusty recesses of their minds wake in the day to find that it was vanity: but the dreamers of the day are dangerous men, for they may act their dream with open eyes, to make it possible.” -Thomas Edward Lawrence

An important question that frequently arises for any product company is, “How long will it take to build?”  Internally you will debate this (our lead developer can insert his silent chuckle here).  Externally you’ll hear it constantly from your customers, partners, investors, family, and really just about everyone you meet.  If you’re honest with yourself, the realistic answer is usually simple: we don’t know, but we’ll estimate anyways.

This rule applies to every build: your alpha, your beta, & every iteration within.  This is the nature of building a new product.

Product timelines are tough to pinpoint because of the…