When most people speak about a Startup’s funding approach as “bootstrapping”, they often are referring to the Founders putting some time and capital into the company. This is actually an incorrect use of the term in Startup “speak”, as that Founder input is still an investment. And though it’s usual that Founders put some cash into their companies or minimally defer taking anything out, it’s still actually investment. Just not an external investment. It is a type of Seed Funding.
When does a startup stop being a startup? As a founder, why should you care?
Startup is a phase. Eventually a company will and should grow out of that phase. Normally in 2-3 years. To remain in Startup mode is actually to invite atrophy. A company that has emerged to a point where they have a loyal customer base and a viable business model does need to adopt some traditional customer facing processes for sales, marketing, delivery and after-sales services. Otherwise, they risk losing that customer base.
Why is the Canadian Tech Entrepreneurial Dream too often just a wish for a multi-million dollar exit?
When listening to Canadian would-be entrepreneurs, it seems that quite often you hear their dream is to start a company, grow it to the point where some other larger American company comes along and buys it, enabling the original founders to walk away with millions of dollars.
Will Generation X and Z drive a more collaborative workplace? Will Millennials be left behind?
What I think will really happen when we move away from less structured organizational styles is that this will breed new ways of thinking and interacting in the workplace. Companies will evolve a style and leadership that focuses on performance and satisfaction for all its constituents – management, employees and customers alike. It will be as unique as their constituents are.
What is Innovation anyway
Innovation is a new or better way of doing valued things.
Innovation occurs when an idea, project or new invention is adopted by users at scale.
Make Your Customer the Hero of the Story
I was having a conversation recently with another Founder about how to perform superior customer engagement in a B2B environment. What slipped off my tongue without really thinking a great deal about it was that a key way to build a strong relationship with your customer and get repeat business is to make your customer look good in their own organization. (I added, it’s probably something you want to do for your boss too, but that’s for another conversation)
