I was hunting around on Entrepreneur.com today looking for some data when I came across this post from Jim Casparie on entrepreneurial success. I know we see these success stories quite often, but I thought this one had a few different "takes" that are worth those of us on the entrepreneurial journey to pay attention to.
Here's a couple I like:
I like the reference to transitional technology - technology that has the potential to change your customer's business model or industry dynamic. This is a powerful concept -- not often possible with an invention, but a good target to shoot for. A good reminder on the numbers too -- we often lament about VCs wanting billion dollar markets, but Jim presents the reality of why these numbers are as they are. It takes a lot of work to make a toddler into a contributing member of society, and so investors need to be compensated for the potty training through to college.
There's a few other nuggets in this piece such as the search for the right investors - everyone would love to be in this situation and perhaps you can be if you approach your hunt like this entrepreneur did -- of course, it also helps to have market changing technology.
Enjoy the read! Here's the link again: http://www.entrepreneur.com/money/financing/raisingmoneycoachjimcasparie/article173732.html
Enjoy the journey!
Wendy Kennedy
author/advisor/lady with the flipcharts!
www.wendykennedy.com
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