Feel the Boot

The 10x rule 🌟 Why better is not enoughHaving a superior solution is not good enough.The special barriers startups face force you to build at least ten times better products. Why Your Startup Needs to Be 10x Better In this episode of 'Feel the Boot', host Lance Cottrell breaks down why startups need to be substantially better than their competition, particularly in the B2B context. He explains the elements such as the high cost of switching, the immaturity of a startup product, and the typical risk of a startup failing, that force a startup to deliver a solution ten times better than the competitors.  Read the article https://ftb.bz/99BWatch the video https://ftb.bz/99V  See the rest of the Founder Insights https://ftb.bz/Insight Schedule advising with Lance https://ftb.bz/advising

Startup Fundraising Facilitators 🐍 Surviving the Pit of Serpents!You might want to ask for help when you need to raise capital.Take care, most of those people are useless or actively harmful.  Quoth the AI describing this episode:In this episode, Lance Cottrell, an experienced startup advisor, shares insights on the challenges of fundraising, focusing on the role of fundraising facilitators in the process. He offers a candid look at the pitfalls of working with unskilled or unethical fundraisers. The episode provides crucial pointers about operational red flags and underlines the importance of maintaining realistic valuations. Additionally, it explains the logistics of fee models and advises on how successful fundraising can be approached. Moreover, it includes a brief discussion on the regulations surrounding fundraising and the need for facilitators to be registered. The episode concludes with advice on selecting the correct people to work with and setting adequate standards for partners. Read the article: https://ftb.bz/98BWatch the Video: https://ftb.bz/98V The episode on the Startup Fundraising Paradox: https://ftb.bz/94B

🤯 Exposing the top reasons for fast angel investment rejectionsInvestors only take a few seconds to decide if a startup is worth a serious look.These eight factors lead to most of the fast NOs ☠️ In this episode, I discuss the screening process for companies seeking funding from angels and VC. Out of over a hundred applicants to my angel group, we only select about 20 for detailed consideration. We drop the rest after only a few moments' consideration.A handful of reasons dominate why investors eliminate companies in under a minute.If you can avoid those traps, you can force investors to take the time to understand your startup. At worst, you will get feedback to improve your business and your pitch. At best, you will get the funding you need to grow. Read this as an article https://ftb.bz/97BWatch the Video https://ftb.bz/97VGet advising for your startup https://ftb.bz/AdvisingSubscribe to Boot Prints https://ftb.bz/Join Check out the whole Fundraising Playlist https://www.youtube.com/playlist?list=PLgMU_ie96T-LoIvSK3hHFF0AmySuQjbKeWatch the video on valuation methodologies https://ftb.bz/66V

Startup Privacy Policies 🥷 What you need to know about GDPR, CCPA and beyond!In this interview, Sabir Ibrahim, an attorney and entrepreneur, provides valuable insights on the implications of privacy and privacy policies for startups. He emphasizes the importance of privacy laws, particularly highlighting the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), and explains that these laws apply to all companies, regardless of their size. Sabir advises startups to prioritize privacy policies, starting with a comprehensive privacy policy that includes information about data collection, usage, and sharing. He also recommends engaging an attorney to ensure compliance with relevant regulations.Sabir highlights the potential risks and consequences of non-compliance with privacy laws, such as regulatory enforcement actions and lawsuits. He suggests implementing a plan for data privacy as companies grow, including the concept of privacy by design.  The discussion also explores the relevance of privacy issues in specific sectors, such as Medtech, Fintech, and AI applications, mentioning the need to consider industry-specific regulations. The interview concludes by emphasizing the importance of engaging legal counsel, budgeting for legal expenses related to privacy policy creation and compliance, and treating privacy compliance as an investment rather than a cost. Read this as an article https://ftb.bz/96BWatch the Video https://ftb.bz/96V Subscribe to Boot Prints https://ftb.bz/JoinGet personal advising https://ftb.bz/advising   00:00 Introduction to Sabir Ibrahim02:24 Evolution of privacy laws and regulations04:43 Implications of privacy laws for startups07:14 FTC enforcement actions on smaller companies08:08 Importance of starting with a privacy policy08:58 Key elements of a privacy policy11:15 Considerations for international users and GDPR14:22 Key data privacy laws to be aware of: GDPR and CCPA17:54 Planning operations to ensure compliance19:28 Privacy by design and value proposition23:43 Privacy concerns in specific verticals25:54 My Health, My Data Act and regulatory gaps32:22 Cost considerations for early-stage startups37:48 Privacy compliance on a limited budget38:34 Avoiding conflicts in privacy-related terms Sabir Ibrahim’s Bio:During his 15-year career as an attorney and technology entrepreneur, Sabir has advised clients ranging from pre-seed startups to Fortune 50 companies on a variety of issues within the intersection of law and technology. He is a former associate at the law firm of Greenberg Traurig, a former corporate counsel at Amazon, and a former senior counsel at Roku. He also founded and managed an IT managed services provider that served professional services firms in California, Oregon, and Texas. Sabir received his BSE in Computer Science from the University of Michigan College of Engineering. He received his JD from the University of Michigan Law School, where he was an article editor of the Michigan Telecommunications & Technology Law Review. Sabir is licensed to practice in California and before the USPTO. He is a Certified Information Privacy Professional. His website is: https://www.optimedge.legalYou can also find him at:https://linkedin.com/in/sabir-ibrahim-a9505b1https://medium.com/@optimedgelegalhttps://youtube.com/@optimedgelegalhttps://tiktok.com/@optimedgelegalhttps://instagram.com/optimedgelegal

You’re delivering your pitch deck ask slide wrong! What you should say instead.Learn the right and wrong thing to ask for.How to handle hard questions during your ask. I was listening to several founders deliver their pitches. Most of them did their “ask” wrong and seriously damaged their chances of success.In this episode, look at their mistakes and how they could improve this critical step in their pitches.You need to understand the whole angel and VC investment process. You pitch to get the next meeting, not for an immediate investment in your startup. Read this as an article: https://ftb.bz/95BWatch the video: https://ftb.bz/95V Subscribe to Boot Prints: https://ftb.bz/JoinGet Advice for Your Startup: https://ftb.bz/Advising

Escape the Startup Paradox 😬 MVP Without VCCan’t Build Your Product Without FundingBut Can’t Get Funding Without a Product In the newest episode of Feel the Boot, we're diving headfirst into the world of product development sans angel investment. I provide strategies for startups to navigate the challenges of raising funding pre-MVP. Consider the paradox that most startups face: they need money to build their product, but struggle to obtain funding without a product. I lay out three strategies to overcome this challenge. The first is to build a cheaper version of the product by using off-the-shelf tools and proving its success. The second strategy is to validate the business by conducting interviews, surveys, and gathering evidence of customer interest. The third strategy is to explore alternative funding sources beyond traditional equity investors like: friends and family, grants, partnerships, or bootstrapping.By following one or more of these strategies, you can find alternative ways to build your minimum viable product (MVP), enabling you to progress towards your business objectives. Read this as an article: https://ftb.bz/94BWatch the Video: https://ftb.bz/94VSubscribe to Boot Prints: https://ftb.bz/JoinGet Advice for Your Startup: https://ftb.bz/Advising

Branding is far more than just a logo and color scheme.Learn how to leverage both positioning and branding in your startup buisiness In today's fiercely competitive business landscape, effective branding and positioning strategies are crucial for startups to stand out from the crowd. However, many founders underestimate the true scope and importance of these concepts. In this interview, we heard valuable insights from branding and positioning expert Mara Rada, shedding light on why these elements are vital for emerging companies. By understanding the multi-faceted nature of branding and the emotional factors that drive purchasing decisions, founders can create stronger connections with their target audience, ultimately leading to long-term growth and success. In the interview, Mara mentioned a few resources that will help founders learn more about branding and positioning:-       42Courses.com has many lessons on these and related topics. -       Anything written by George Tannenbaum formerly with Ogilvy, and R/GA https://www.linkedin.com/in/georgetannenbaum/-       Anything written by Manoj Jacob Creative Director at Crayons. Formerly at Ogilvy, DDB Mudra, Soho Square, & Havas https://www.linkedin.com/in/jacobwriter/  Get this as an article: https://ftb.bz/93BWatch the video: https://ftb.bz/93V Join Feel the Boot: https://ftb.bz/JoinGet advising from Lance: https://ftb.bz/Advising Mara Rada is a feral thinker, a brand whisperer, and a category positioner. She helps companies create the beast brands of the future without selling their souls. She has worked with some of the world's most remarkable startups, Fortune 500 corporations, and the world’s best advertising agencies (Ogilvy). She is also a veteran public speaker and keynote presenter who talks about topics such as brand naming, category design, perceptual positioning, and nin-cliche-istic branding. She is the founder of FERAL, a strategic consultancy that specializes in untamed thinking and identity commercialization. Mara is not a guru and detests the word. Maybe as much as the dreaded “digital transformation”. But she sure knows how to transform lemons. https://LinkedIn.com/in/mararada https://ThinkFeral.com

How to create an angel investment portfolio for maximum returns.Learn what drives the returns for your angel investments. Read this as an article: https://ftb.bz/92BWatch the Video: https://ftb.bz/92VSubscribe to BootPrints: https://ftb.bz/JoinAngel Investing 101 series: https://ftb.bz/angel  In episode, I delve into the economics of angel investing, emphasizing the need for a significant number of investments to increase the chances of success. Research shows that most angel investments result in losses or minimal returns, but a small percentage can yield substantial profits. To improve the likelihood of hitting those winners, you should make at least 20 angel investments. Diversification across different sectors is also crucial to mitigate risks associated with market fluctuations and sector-specific downturns. I then discuss the importance of planning an investment budget. Startups typically prefer pre-seed investments of at least $25,000 to avoid numerous small investments on their cap table. For investors with smaller check sizes, you might explore options like crowdfunding or syndicates. Syndicates involve a lead investor selecting an investment, while crowdfunding platforms allow for lower minimum investment requirements, enabling diversification through multiple smaller investments.

Non-monetary Startup Rewards and Recognitions.Eight employee incentives that work better than cash.  In this episode of "Feel the Boot: The Science of Startups," I, discuss seven highly effective motivators and rewards for employees that founders can use to attract and retain top talent. These motivators include having a strong vision, giving employees equity, providing public recognition, delegation and employee empowerment, giving personal attention, tailoring rewards to the individual, and unique “wow” rewards. I emphasize the importance of understanding what motivates individual employees, as what works for one may not work for another. I share two examples of "wow rewards" that have had a significant impact on employees, such as handmade plaques and giving solid gold coins to employees who have put in a "gold medal performance." Access all my content on Running your Startup https://ftb.bz/running Get this content at an article https://ftb.bz/91BWatch the Video https://ftb.bz/91V Sign up for advising https://ftb.bz/advising

How to quickly eliminate the losers,and identify companies worthy of further due diligence. As an angel investor, you will need to look at many startups.This guide provides a framework for quickly analyzing deals to see if digging deeper is worth your time. This is part of a series on Angel Investing https://ftb.bz/AngelSubscribe to Boot Prints and access office hours https://ftb.bz/joinLearn about advising from Feel the Boot https://ftb.bz/advisingWatch the Video https://ftb.bz/90VRead as an article https://ftb.bz/90B Make a Quick First CutIs the Company Angel Investable?CompetitionValuationProblem/Solution ValidationBusiness EconomicsDefensibilityIntellectual PropertyNeed for Additional FundingWhat is There?ChurnAssumption ValidationIs This Possible?(bonus) Team