The 6 types of people who matter in your business

Our users have figured out that IncMind offers a series of powerful tools. What was missing for the entrepreneurs was an understanding of which tool is needed, for who, when. So we have redone our menu structure, to give entrepreneurs one tab for each need, and each audience. The 6 types of people who matter to your business (and an IncMind section for each): 1) News: informally update your helpers […]

Splitting shares in a new company

My cousin recently introduced me to an entrepreneur. He is an inventor, who has developed a <$10K piece of machinery, that can save a specific kind of business $1M a year in operating expenses. I have been asked to help turn the inventor’s company into a real business, working perhaps 1 day/week. And I have a potential full time sales guy to add to the team. The question, of course, […]

A simple trick to get more investors

I still remember a horrible pitch session I was at in Silicon Valley over 5 years ago. I was pitching Skymeter, a potentially multi-billion dollar transport technology business, with deep patented technology, that had won industry awards. The guy before me was pitching a set of wireless drum sticks that let you play ‘air drums’. Shake them in the middle right and get a snare drum sound, top left cymbal, […]

Backstabbing (of) CEOs

Being a CEO is a position of power. The result of sitting in a position of power is that people who want power will go after you. This means as a CEO you will be a target for sociopaths: people who care about power, and have no concerns about lying and backstabbing to get there. Given that as many as 1 in 25 people is a sociopath, and as many […]

Lying in fundraising: does it matter?

I just discovered that someone I know, and had drinks with multiple times, has been charged by the Ontario Securities Commission with fraud, and will be sentenced later this month. He was a fund manager. And I also think of him as an entrepreneur, because he was launching his own fund. His story holds a strong lesson for all entrepreneurs.

My investor just died

One of the largest investors in my previous company just died. In mourning Murray Hogarth I realized I’ve never fully mourned Skymeter, or deeply understood and shared the lessons of its passing. Let me start with the man, and what I learned from him. The company will follow.

Does your company own its product?

Illusion

Do you want investors for your company? One of the most basic questions you will need to answer is ‘do you own what you are selling’? Many entrepreneurs don’t even think about this question. ‘Our company has been building this software for the past two years, of course we own it.’ And yet, experienced investors will have seen many times when this isn’t the case. Here are the common mistakes […]

The five reasons why investors don’t invest in your startup

Investors want to invest in a successful business. Wouldn’t you want to too? Unfortunately you, as an early stage company, aren’t successful yet. And yet every day, around the world, tens of thousands of investors make an investment in early stage companies. Why are they getting funded and not you? There are five reasons why investors don’t want to invest in your startup. Here’s what they are, and what you […]

Take (some) money off the table

I have been a multi-millionaire multiple times in my life. On paper. In hard tangible assets, I am currently worth not even a half million dollars, after four (or more) companies. How did that happen, and what did I learn? Read on. One of the things you learn in spending over a decade as an entrepreneur is that you win some and you lose some. Of course you’re always hoping […]

Three Canadian companies win ‘Ready for Funding’ Competition

Three young Canadian companies have won the second quarterly IncMind Ready for Funding Competition, sponsored by Cognition LLP and BDO. They are Altranex, an innovator in sustainable bio-chemicals, Eve Medical, an innovator in medical testing devices, and Managing Life, makers of an award-winning pain management app. The three firms have each won a one-hour investment pitch meeting with one or more appropriate investors, including OMERS Ventures, two private family offices, […]