We interviewed Portland investor and TiE Global member Nitin Ray recently and he‘s ‘Bullish on inclusion’ in his own words. Well, everywhere I look now I see folks talking about inclusion, from big firms like Deloittte to venture firms like Kapor Capital to start ups like Asana.
Nitin Rai told us our country is becoming a ‘United Colors of Benetton’ Nation, and I’ve got to say I’m a believer. So let’s break it down. There’s a growing trend among savvy companies from ‘diversity’ toward ‘inclusion’. Here’s why: ‘Diversity’ focuses on differences, while ‘inclusion’ asks ‘how do we bring different people together? ‘Diversity’ had become code talk for hiring underrepresented minorities and women – certainly worthy goals.
Let’s talk about raising a seed round. Might as well jump into the new year with how to get your startup funded. Elizabeth Yin of 500 Startups did just that in a really clear primer on three seed funding vehicles -- equity, convertible notes and convertible securities -- three ways that entrepreneurs raise seed rounds.
In her January 4 blog post, Yin goes into the basic mechanics of how investors can seed your company. Of the three ways, she says, traditional equity is most widely used, while newer convertible notes gained popularity since 2000, and, and the newest on offer, convertible securities, a hybrid developed and used by 500 Startups and Y Combinator for about a year now. Y Combinator has a very developed and detailed program called ‘SAFE’ which means ‘simple agreement for future equity’ -- pretty much what a convertible security is.
Entrepreneur and investor Nitin Rai is on a bold mission to change the balance of women and minorities in business for better, and he backs his intentions with solid investments. Inclusion, he says, includes everybody. Diversity frequently describes women and minorities, while inclusion welcomes, as well, veterans, rural communities, and anyone or any group underrepresented, underserved or marginalized by changing economies.
He is bullish on an inclusive future, pointing to demographic trends in the country. We are growing more multicolored, “a United Colors of Bennetton”, he says. “Teenagers today have a very different view of the world, even from millennials. Inclusion and diversity are a part of their lives, especially in cities. They not only expect this to happen, they want it to happen. We must be conscious of this upcoming generation.”
It’s that time of year when founders think about how to reward our teams with some kind of seasonal gift and recognition. You know – the Season of Giving. Recognize a year of hard work on the part of your team. Acknowledgement and gratitude should be a daily activity for everyone, from CEOs to new team members. But at this time of year particularly, we need to focus on gratitude for others. Focusing on how to rewards others – especially those who have worked so hard to make our dream company come true this past year, is a critical task for December.
Hmm . . . Parties. Bonuses. Gift cards… the imagination reels… but wait! What if your startup is lean, as in “we have NO CASH?!” Of course you need to be creative. Let’s break it down to get some answers for startup founders.
Yeah, we all groan about writing them, and put doing so off as long as possible. What’s worse, how many business plans wind up in a file drawer, or in the cloud, never to be read again? So, I just have to ask “What is your business plan for?”
It appears there is no slow down in this activity for Q4, if events are any indication. We just spent a day with investors from China at Seattle Biz TechSummit, and two major investor summits are took place in Europe: The NOAH conference in London and Web Summit in Lisbon. While it’s questionable whether a start-up will actually get funded at these, they are nevertheless excellent opportunities to make contact with potential investors. We certainly saw a lot of that at The Chinese Investor event.
We’re concerned about how many times startups actually qualify their potential investors so they don’t waste precious time and effort going after those who will never funds them … i.e. barking up the wrong tree?
t’s November! What do start ups absolutely need to be doing this penultimate month of 2016?
Focus on the team, your employees.
In March we said the most important thing that must be done was to take a look at your team and ask the following questions:
Is everyone on the right seat on the bus? How did they perform in 2015? How much did their functions move your start up forward? Are their functions and responsibilities aligned with your 2016 goals?
Now as we approach the end of 2016, it’s time to review your employees’ performances. Again.
Ever hear of ‘Build A Bear’… that site where you can put together your perfect Teddy Bear?
Well, we got to thinking about what it would take to build a perfect founder. Seriously. Let’s talk about how to build the perfect founder and how to get/identify/be one. We culled a few from some of our favorite go-to sources: First Round Review, Fast Company and Techstars.