Executive Vice President and Chief Investment Officer
Most entrepreneurs are loath to give up equity—anyone who has ever watched Shark Tank knows that. And it makes sense. After all, it’s your breakthrough idea, your money (and sometimes your family’s and friends’ money), your sleepless nights and your hard work. When you’re pouring all that into a venture, you should be the one to call the shots and reap the spoils. It stands to reason that the more equity you take—in other words, the more ownership you give away—the less control you have over your business. And of course, you stand to make less money upon exiting, right? Continue reading
Corporate Benefit Planning Consultant
Whether your company is firmly established with hundreds of employees or is a new, two-man startup, managing your human resources, benefits and payroll functions is not an easy job. The employee responsible for those areas must stay on top of an increasing number of reporting rules, federal and state regulations and data management requirements, and, unless your systems are integrated, likely is not able to make complex decisions quickly. Tracking data through disparate manual systems and complying with myriad rules and regulations can be a costly drain on resources, leaving your employee frustrated and your company vulnerable to risk. Fortunately, new digital services designed to streamline these functions are cropping up everywhere. Read on to see if one might be right for you. Continue reading
An entrepreneurial team’s mission is to develop and grow its venture and to optimize the management team’s equity ownership stake. Significant growth usually requires substantial development and expansion capital, often in the form of equity investments. These investments take equity from the management team and put it in the hands of the investors who provide the capital for development and growth.
At BioHybrid Technologies and Sensor Technologies, two Shrewsbury, Massachusetts-based high technology startup ventures developing novel ways to treat diabetes, our management team raised over $50 million of technology development financing without any resulting equity dilution. We raised approximately $8 million through federal government and private foundation grants. We raised the balance—slightly more than $46 million—from three corporate alliances, which funded our two ventures’ technology developments in exchange for rights to the developed technologies. Continue reading
Kelsea Michael Public Relations
For many, the thought of talking to the media can be nerve racking. But an interview doesn’t have to be stressful. Whether you have a national primetime TV appearance or a discussion with your hometown paper, there are some standard tips and tricks to follow that can not only ease your nerves, but also ensure success.
Whenever I’m training clients, I always make sure they adhere to my one and only rule for media interviews. Sure, I have lots of advice, but only one rule, and that is to communicate with honesty, integrity and transparency. It’s what I call my deal breaker, so if you take nothing else away from this, please remember the rule when you do your next media interview. Many big news scandals could have been prevented if the key players communicated with honesty, integrity and transparency. Consider the recent scandal involving NBC’s Brian Williams, which was solely about misrepresenting the facts. Consider also the now-tarnished reputation of Alex Rodriguez. His history of lying to reporters about steroid use has cost him his credibility and has all but destroyed his personal brand.
With that in mind, here are the rest of my top tips for working with the media.
Capital is the lifeblood of any startup. Because of this, too many entrepreneurs blindly charge forward raising money without understanding the importance of the process. Raising capital is generally not a skill that most startup executives have. Why? Well, for starters, fundraising is not something an entrepreneur does every day. It’s also a distraction from the important effort of launching and operating a business. A young company needs money and generally needs it now, but many entrepreneurs fall victim to the belief that four quarters from one funding source is the same as one dollar from another. But smart entrepreneurs aren’t so cavalier about something so important! Not all money is green. The sources from which you raise capital can make all the difference between success and failure.