Do More Faster
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making quickly, 143–144
startup's pursuit of big companies and, 214
de Godoy, Tom, 191
Delaware, corporate laws in, 277–278
Demo Days, at Techstars, 44, 140, 217, 244, 335, 337
DeVore, Chris, 205, 338, 339
DeWitt, Brian, 352
DFJ Mercury, 17
Diamond, Howard, 139–141
Diet, and staying healthy, 320
Differentiating from competitors, 197–199
digitalundivided, 344
DigitalOcean, 15, 67–69, 167, 171, 349
Din, 350
Disney Accelerator, 72
Distractions, avoiding, 205–207
Diversity, 342–343, 344
Docker, 165–166
Doing versus trying approach, 7–8
Do more faster approach, 1–5, 327 competitive advantage of, 3–4, 5
examples of, 4–5
Duey, David and Heather, 94–95
eBay, 10, 169, 171, 352
Efficiency. See also Working effectively email tips for, 162–164
execution and, 137
getting away and improvements in, 325
leadership and team work and, 108
Egozy, Eran, 136, 301–303
83(b) election, 291–294
Email, tips on using, 162–164
Employees. See also Firing; Hiring deceitful or immoral behavior of, 129–131
firing timing for, 100–102
HaveMyShift for, 45–47, 350–351
hiring people better than you, 87–89
hiring timing for, 99–102, 177
noncompete agreements, 85
nondisclosure agreements (NDAs), 13
“random days” for meetings with, 75–76
“Scrappy Awards” for savings by, 124–125
temporary agencies and, 145
temporary worker marketplace for, 145–146
Entrepreneurial Law Clinic, University of Colorado Boulder, 274, 275
Entrepreneurs Unplugged Series, 275
Entrepreneurship Initiative, Silicon Flatirons Center, University of Colorado Boulder, 19
Entress, Geoff, 340
ePartners, 139
Ethnic diversity, 342–343
EventVue, 173–176, 336, 349
Everlater, 25, 27, 151, 307, 316, 350
Everythingitis, 33–34
Excite, 53, 149
Execution data collection for, 138
efficiency of, 137
entrepreneurs and teams as machines for, 26, 137–138
importance of, 13–14, 49
Exercise bike riding for, 315–317
staying healthy with, 319, 320
Exodus, 43, 44, 52
Facebook, 10, 13, 34, 235, 237, 334, 351
Fail fast concept, 15, 59–61, 214
Failures fail fast series of little failures, 15, 59–61, 214
as fundamental part of entrepreneurship, 129
initial ideas and, 59–61
learning from, 175, 181–182
Fassler, Len, 317
Features, 40, 45–46 everythingitis during, 33–34
listening to customers during, 43
market for new product and, 191
quality over quantity approach in, 183–185
specific release dates in, 179–180
Feedback customers and, 108, 126, 184
getting early, 25–27
mentors and, 95, 96–97, 117
FeedBurner, 191, 201–202
Feld, Brad, 9, 41, 52, 53, 77, 81, 100, 104, 136, 320, 327, 338 anecdotes versus data and, 157–159
being specific and, 179–181
Berberian and Raindance and, 64–65
company structure choices and, 269–271
doing versus trying approach and, 7–8
Entrepreneurs Unplugged Series with, 275
Egozy and Harmonix and, 302–303
firing timing and, 100–102
focusing on first-one third in fundraising and, 265–266
focus on relationships by, 131
fundraising sources and, 223–225
Galligan and 83(b) elections and, 293–294
getting away and, 323–324
iRobot investment and, 57
Katz's business relationship with, 134–136
lawyers and, 287–289
“Learning to Program” blog series by, 27
Marcoullier and Gnip and, 215–218
mentorship and, 96, 121
move to Boulder by, 308
Pincus and Zynga and, 345, 346
Reinacker's prototyping and, 41, 42
“random days” for meetings with, 75–76
“Screw me once” rule and, 129–131
showing versus telling in pitches and, 251–252
Startup Visa initiative and, 19
Techstars cofounding by, 53, 337
two-strike rule and, 129–131
work-life harmony and, 297–299
Techstars Boston and, 337, 338
term sheet blog series by, 263
Venture Deals book by Mendelson and, 261, 263
Feld.com, 121, 263
Feld Technologies, 81, 100, 101, 134, 179, 224, 287, 297
Ferriss, Tim, 13–15, 115
Filo, David Robert, 81
Filtrbox, 138, 143–144, 316, 333, 350
Firing of a cofounder, 84
of employees, timing of, 100–102
First Round Capital, 115, 191, 216, 219
Fitton, Laura, 103–104, 352
Flagg, Bill, 209–211
Flatiron Partners, 345–346
Flybridge Capital Partners, 103
Flywheel Ventures, 143
Focus avoiding distractions and, 205–207
challenging of staying focused, 51–53
reconciling vision and, 71–72
what's important and, 201–202
Focus groups, 52, 149
Foodzie, 13, 27, 115, 117, 350
Ford, Bill, 210
Ford Motor Company, 210
FounderCon, 131
Founders friendships and, 111–113
multiple. See Cofounders
nontechnical, 107–109
not being indispensable, 313–314
solo, 103–104
unstoppable and unable to quit, 103–105
Founders' Co-op, 205, 338, 339
Foundry Group, 7, 53, 57, 59, 129, 135, 149, 157, 179, 223, 243, 251, 261, 265, 269, 287, 297, 315, 339, 345
Foursquare, 181
Fox, Jon, 283–286, 351
Fox Interactive Media, 38
Fraser, Josh, 175, 349
Freeloader, 345–346, 347
Free tools, 165–167
Friends bike riding with, 317
business relationships with, 135–136
fundraising with, 223–224
importance of, 111–113
vesting agreements with, 279–280
Front, 350
Fundraising, 221–266. See also Bootstrapping advice in, 247–249
angel investors and, 223–224, 227–230
cold calls and random emails used in, 251
company structure related to, 269–271
early success and, 235–237
first one-third of the money in, 265–266
focus on pain (“turning the knife”) in, 253–54
as a full-time job for a team member, 244
investors' questions in, 243–244
loans from prospective customers in, 231–233
overoptimizing on valuations in, 257–259
overview of, 221–222
practicing pitches for, 244–245
range of sources in, 223–225
seed investors and, 239–241
showing versus telling in, 251–252
social networks used for, 175
term sheets in, 261–263
video presentations in, 251–252
Galligan, Matt, 291–294, 352
&nbs
p; Gates, Bill, 135
Gender diversity, 342–343
General partnership, 273–274
Georneys, 94–95
Getting away approach from it all for vacations, 323–326
from office for meetings, 315–317
Getting Things Done (GTD) system, 161–162
Gigbot, 76
Gilliam, Drew, 350
Ginsberg, Aviel, 177
Gladwell, Malcolm, 245
Glaros, Nicole, 67–69, 162–163, 247–249, 263
Global Accelerator Network, Techstars, 186
Gnip, 215–218
Goals, specific, 179–180
GoChime, 165–166
Google, 44, 81, 155, 165, 166, 201, 220n, 235, 351
Gordon, Bing, 346
Gottesman, Greg, 123–127, 339
Grants, 224
Graphic.ly, 17–19, 111, 307, 350
Grote, Rick, 249
GroupMe, 193, 352
Grove, 13
Grove, Andy, 188, 218
Growth, company, 169–171
Guitar Hero (game), 136, 301–303
Gyminee, 183, 185. See also DailyBurn
Hadzima, Joe, 288
Halliburton, 56
Harmonix Music Systems, 136, 301–303
Harmony, work-life. See Work-life harmony
Harris, Matt, 306
Hasbro, 56
HaveMyShift, 45–47, 350–351
Hawkins, Jim, 306
Hayes, Rob, 191, 216, 219–220
Health bike riding and, 317
getting away and, 323–326
ways of staying healthy, 319–321
Heart, following your, 305–308
Herman, Will, 87–89
Hewlett, Bill, 81
Hewlett-Packard (HP), 81
Highway 12 Ventures, 25, 305, 306–307
Hire Abby, 45, 351
Hiring fundraising and, 232
impact of compromises in, 177
importance of hiring people better than you, 87–89
mentor for, 116
mistake of hiring those less capable than themselves, 87
temporary agencies and, 145
timing of decisions in, 99–102, 177
Hoffman, David, 61, 108, 245, 351
Hoffman, Reid, 346
Holland, Kirk, 257–259
Homer, 327–328
HP, 81
HubSpot, 83, 103, 104, 166, 194, 352
IAC, 183, 319, 349
iContact, 33–34
Ideas early prototyping of, 42
as fundamental building block, 11
overvaluing, 13–14
pivoting to new, 219–220
pulling the plug for lack of excitement about, 60, 63–66
using for product development, 29–31
Immoral behavior, 129–130
IMVU, 153
Inclusion, culture of, 342–343
Indispensable role, ways of avoiding, 313–314
Individual, Inc., 346
Influencer.co, 43
Innovation Bootcamp, TechStars, 342
Intel, 81, 188, 218
Intellectual property (IP), 225, 274
Intense Debate, 4, 32, 38, 283, 284, 333, 351
Interchange, 291, 352
International entrepreneurs, 19
International investors, 270
Intrepid Learning Solutions, 124–125
Investors advice from, 247–248
angel, 223–224, 227–230
characteristics of entrepreneurs and, 240–241
cofounders as, 85
early stage, 257–259
fundraising presentations to, 243–244
Internet bubble and, 181
mentor role of, 249
“People, Products, and Markets” guideline used by, 240
risk mitigation and, 248
seed, 239–241
term sheets used by, 262
“Three Asses Rule” used by, 241
types of, 223–225
iPhone, 10, 14, 18, 29–30, 31, 170, 197
iPod, 29, 30, 31
iRobot, 55–57
Iterations, continuous, 55–57
iTunes, 18, 31
Janzen, Randy, 350
Jenkins, Tim, 352
Jetpack, 29
Jive Software, 143, 144, 350
Jobs, Steve, 30, 32, 81, 252
Johnson, Rob, 173–176, 349
Joy Labs, 352
J-Squared Media, 10, 221, 235, 352. See also PlayQ
Karma, 133–136, 333
Katz, Warren, 133–135
Kelleher, Herb, 189
Kelman, Glenn, 124
Keyet, Isaac, 351
Klau, Rick, 201
Knowing your customers, 209–211
KO, 277
Kulkarni, Ajay, 193–195, 352
LaFave, Rob, 115, 350
La Gesse, Rob, 67
Law, corporate, 277–278
Law clinics, 274, 275
Lawyers. See also Legal aspects budget for, 280
choosing the right one, 280, 287–289
cofounder conflicts and, 279–280
collaborative relationship with, 280
early engagement with, 267
just-in-time legal work by, 280
saving money on, 279–281
Lean Startup methodology, 153, 156, 173
Learning, validated, 153–156
Learning by doing approach, 187–190
Legal aspects, 267–284. See also Lawyers choosing lawyers and, 280, 287–289
company structure choices and, 269–271
Delaware corporate laws and, 277–278
just-in-time legal work and, 280
lawyer costs and, 279–281
liability issues and, 269–270, 273–274
noncompete agreements, 85
nondisclosure agreements (NDAs), 13
overview of, 267
Section 83(b) elections and, 291–292
temporary worker marketplace plan and, 145
vesting and, 279–280, 283–286
wayward founder problem and, 274–275
Levine, Seth, 315–317
Liability, and company structure, 269–270, 273–274
Liberty Media Corporation, 52, 213
Lighter Capital, 205
Lijit Networks, 111–112
Like.com, 219–220
Limited liability corporation (LLC), 269, 270–271, 274
Lindzon, Howard, 309–311
Listening to customers, 43, 46, 68, 140, 143, 184, 209, 220
creative ideas from, 43
by mentors, 120
LLC (limited liability corporation), 269, 270–271, 274
Loans from prospective customers, 231–233
Localytics, 197–198, 351
London Techstars, 35
Long-Term Stock Exchange, 156
Lopez, Jose, 352
Lunch bike rides, 315–316
Madrona Venture Fund, 339
Madrona Venture Group, 111, 350
MÄK Technologies, 134–136
Mann, Kevin, 17–19, 307, 350
Mapquest, 25, 350
Marcoullier, Eric, 215–218
Marketing beta user feedback and, 194
founder's focus on, 51, 52
free tools for, 166
gifting products as part of, 117
impact of not focusing on, 174, 176
online approach to, 209
research on target for, 198
scarce startup resources for, 3
social media for, 104
Market research, 149
Markets investor decisions based on evaluation of, 240
product development and demand in, 191
Marshall, George, 125
McClure, Dave, 203–204
McIntyre, Ryan, 53, 149–150
Media Lab, MIT, 134
Medium, 34
Meetings out-of-office settings for, 315–317
“random days” for, 75–76
Mendelson, Jason, 135, 261–263 Techstars Boulder, 334–336
Mentors advice from, 10–11, 66, 127, 146
anecdotes used by, 157–159
closing the feedback loop with, 116, 117
data for decisions provided by, 146–147
engaging with, 115–117
finding, 91–97
fit between business and, 115–116
founder relationship with, 120–122, 138
as fundamental component of Techstars, 73, 327
fundraising and, 248
investors in role of, 248
manifesto on requirements and role of, 120–122
need for, at beginning of a project, 329
Odysseus as early example of, 327–328
reasons for becoming, 116, 136, 241
recruiting and screening new employees and, 89
risk mitigation and, 248
Metrics customer behavior measured by, 203–204
decision-making using, 143–144
validated learning, 155–156
Microsoft New England Research and Development (NERD) center, 337–338
Mistakes. See also Critical mistakes corporate formation and, 280
as a given in startups, 139
hiring process and, 87
learning from, 14, 331, 346–347
tendency to not share or communicate about, 125, 139
MIT, 57, 136, 275, 301
MIT Media Lab, 134
Mobius Venture Capital, 57, 261, 355
Monaghan, Tom and Mike, 145, 353
Moore, Gordon, 81
Morin, David, 334
Mossberg, Walt, 31
MTV, 303
Mullenweg, Matt, 29–32
Munger, Carlie, 135
Murdoch, Rupert, 38
MyBlogLog, 215
National Football League (NFL), 189
NetGenesis, 43, 287–288
New England Research and Development (NERD) center, Microsoft, 337–338
Network Engagement Program, TechStars, 342