Tag: trojan startup secrets

A business school professor who studied 20,000 startup founders says ‘going ugly’ can be the key to a successful partnership — or marriage

ceo employee mistake embarassed meeting fired
Don’t avoid tough conversations — “going ugly” benefits all parties in a relationship.
Strelka Institute/Flickr
  • Most of us try to avoid tough conversations, but the most successful people tackle awkward subjects head on.
  • A professor who studied 20,000 startup founders said “going ugly” and addressing uncomfortable issues can help you both in the business world and in romantic relationships.
  • From planning for the departure of a company’s cofounder to drawing up a prenuptial agreement, “going ugly” tends to benefit all parties in the long run.

It’s human nature to want to avoid tough conversations.

But the most successful people know that skirting around uncomfortable subjects just makes things worse in the long run.

That’s what Noam Wasserman, a professor of clinical entrepreneurship at the University of Southern California, discovered after almost 20 years of studying 20,000 startup founders.

Wasserman wrote about the lessons he learned from his research in The Wall Street Journal on Sunday, and he said they apply to both business and life itself.

The professor wrote that the best startup founders he studied had a tendency to approach tough discussions head on — “going ugly,” as he calls it.

“In a hypercompetitive environment, there is little wiggle room for balky products or ineffective team members,” Wasserman wrote for The Journal. “As a result, the best founders move quickly to identify and deal with any problem areas they see, despite the natural inclination to avoid tension-filled issues.”

In one case he studied, two of the three cofounders of a software startup had doubts that the third founder would remain with the company. The third founder had just become a father, and they suspected he might take his ownership stake in the startup and leave for a more stable job, leaving the company unable to attract a good replacement.

To cover their bases, the founders “went ugly” and drafted a plan about what would happen in such a scenario.

“It was a tough conversation, but it paid off,” Wasserman wrote. “When the new father decided that he couldn’t found a venture while founding a family, the company had a deal ready to go. The co-founders reclaimed his ownership stake, used his shares to lure a replacement executive and, down the road, attracted a buyer.”

But “going ugly” is more than just good business advice — it can help in personal relationships, too.

Wasserman said one of his students had a habit of “going ugly” on first dates, refusing to tiptoe around awkward topics like income prospects and where he wants to live.

Prenuptial agreements are another example of how “going ugly” can benefit both parties in a relationship.

“Just as in the entrepreneurial world, agreements like these can strengthen relationships by surfacing issues early, revealing people’s true intentions and motivations and clarifying expectations while adjustments can still be made easily,” Wasserman said.

Source: Business Insider

What VC Firms Want You To Know!

In the basement of Bridge Hall, future entrepreneurs of USC, graduate and undergraduate alike, learned tips and tricks from Manan Mehta, the founder of Unshackled and Netanel Bar Ilan, the CTO of Yobs.

1.“Brag about yourself, Don’t Be Humble”

VCs are in the business of buying businesses, so walk in with swagger because you are the customer as well. Mehta stressed the importance of knowing holding on to your superpower. Netanel Bar Ilan pointed out how most people often don’t even realize their potential and that they are eligible for the O1 visa.

2. “Your Advisors Shouldn’t Be The Reason Why I Invest In You”

Mentors and coaches are necessary and they will give you a head start, however, they are for you not for the company. Having big names as your advisors is not a sign of success as they probably won’t have real time for you. Find people who will invest time and effort into you. Additionally, giving the analogy of tennis coaches, Mehta, suggests that you shouldn’t be afraid to switch coaches because they need to evolve.

3.  “Three of My Investments have Changed Their Ideas”

VCs are investing in people. It’s easy to find good ideas but difficult to find good people to work with. Mehta suggests that you should start early and that when he invests, he does not necessarily need business progress.

 4. The 3 Questions

Manan Mehta says it takes him 3 Key Questions to decide whether he is going to invest in someone.

“How much Is your customer willing to pay you?”

“What is the most are they willing to pay you?”

“At what point do they tell you to fuck off?”

5. Customer knowledge: “It’s a motion picture, not a photograph”

Don’t think about the product, think about the problem. Customers buy you solving their top pain point. Follow the shortest pathway until you hit a set of customers who start asking for the same.

6. Learn the Language of VCs

Mehta says that something that takes about five hours to learn is what can set you apart from what most Entrepreneurs forget about. Also, it will prevent people from taking advantage of you.

7. “Fight yourself and take the opportunities”

From his personal startup experience, Ilan encourages the entrepreneurs to not freak out if things don’t work. He recommends having more than one solution always. “Don’t think too much into the future”, he says, “focus on what you need right now, prioritize your tasks. “Scalability – you need to be accessible – that product is running 99% of times”

8. Stay in LA, Everything is still New, Companies Are Being Founded

Both Mehta and Ilan recommend that it is more important to build one’s name in Los Angeles rather than Silicon Valley or San Francisco.

9. Unknowns are Going To Hit You- like Hoodie and Piper from Silicon Valley

Watch the full event live on Troy Labs’ Facebook Page

Unshackled, a Silicon Valley-based pre-seed fund for immigrant founders and international students. Unshackled Ventures uses capital, a hands-on approach, a large engaged network, and an innovative funding model to help founders turn their ideas into reality. Unshackled Ventures was profiled in the 2016 Forbes 400 issue.

Since Unshackled Ventures began investing in 2015, it has helped its portfolio company founders, who hail from 16 countries, obtain seven different types of visas. Investors in

Unshackled’s first fund include First Round Capital, Emerson Collective, TYLT Ventures, Jerry Yang’s AME Cloud Ventures, Naval Ravikant, Brad Feld, and Joe Lonsdale, among others.

 Unshackled’s portfolio includes Starsky Robotics, Lily, and Pluto AI. Manan is the Founding Partner of Unshackled Ventures.

Netanel Ilan Bar – he’s an entrepreneur, ninja coder, and currently works at Yobs Technologies as their CTO. Yobs Technologies utilizes AI to assist hiring recruiters to narrow down their pool to only the best applicants for the job

Startup Feature: 121C Boards

WHAT THEY DO

“121C collects waste carbon fiber from companies in the aerospace industry and upcycles the material to make the highest quality skateboards on the market. Our boards are light, incredibly strong and a blast to  ride.”

HOW 121C WAS BORN

“At first I wanted to make carbon fiber skateboards with the scrap that the rocket lab was generating, and when I realized how big of a problem carbon waste was for the industry, I knew I had to start a business.”

MOST REWARDING STARTUP EXPERIENCE

“We recently had a successful Kickstarter campaign for $44,000 and have been signing on new companies to collect material from. We’ve also been featured in articles on USC’s website.”

OVERCOMING OBSTACLES

“Half way through our kickstarter campaign, our manufacturer bailed on us and we had to lease a facility and bring everything in house. At first, this was a challenge, but it ended up being a blessing. “

ADVICE TO ENTREPRENEURS

“Be prepared to work a ton.”

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Startup Feature: Cropsticks


Cropsticks

Interview with co-founder Jay Chang


WHAT THEY DO

“Cropsticks are eco-friendly, “mind-blowing” disposable chopsticks. It’s the utensil you’ve always known, made better.”

CROP PRIMARY

c2HOW CROPSTICKS WAS BORN

“Chopsticks were invented in ancient China as early as the Shang dynasty (1766-1122 BCE) and possibly even earlier during the Xia dynasty. In nearly 4000 years, no one has truly innovated the way we use chopsticks. The idea for Cropsticks first came to inventor Mylen Fe Yamamoto as she was on a flight to Asia in April 2015 and her chopsticks kept rolling off the dirty tray table. She thought that there must be an easier way to keep her chopsticks in place.

Then the horizontal breakaway holder was born! After doing more research, she found out that over 20 millions trees go into production to create the wooden disposable utensil. So it became a goal to produce it sustainably from fast growing bamboo. Mylen and Jay met in 2013 when Jay was producing the DiscoverMe conference. Jay’s family background has been in manufacturing bamboo housewares for the past 15+ years through TotallyBamboo.”

MOST REWARDING STARTUP EXPERIENCE

“Seeing thoughts become reality and it helps when you like the people you work with.”

OVERCOMING OBSTACLES

“We’ve been working on Cropsticks since April last year. So when the chopstick meme of our similar idea went viral last month and challenged our product, we knew it was important to launch fast.”

ADVICE TO ENTREPRENEURS

“Don’t be afraid! Don’t be afraid to get out there and talk to your first customers. Don’t be afraid that people will steal your idea. Don’t be afraid someone else is better than you or will beat you to market. Be cognizant of all of those things and use them to your advantage to clearly articulate your unique value proposition, and build the best product you can to solve your customer’s pain.”

c1SUCCESS STORIES

 

 

– Kickstarter at 40% in 5 days

– Interest from angel investors potential distribution partners and major restaurant chains

– Featured on NBC, NextShark, Hawaii Magazine, KITV4 ABC, Hawaii News Now and Folic Hawaii 

Download a PDF Version of this Feature

Startup Feature: Stunt Players


Stunt Players

Interview with CEO Hunter Crowder


WHAT THEY DO

“Stunt Players allows stunt performers to promote themselves to coordinators, directors, and producers to be hired for work in the film and television industry.  By signing up for the service, members are placed in an online database made easily accessible and searchable by industry professionals.  Many of the stunt performers seen in films like Fast and the Furious and Pirates of the Caribbean have been hired through Stunt Players.”INC

HOW STUNT PLAYERS WAS BORN

“My father, Wally Crowder, a stunt coordinator and director, originally founded the company two decades ago.  He helped advance the stunt industry by providing coordinators with a hardcopy directory allowing them to browse through stunt performers and hire them based on stats and abilities.

This altered the way stunt people would go about getting work – typically crashing sets and hustling coordinators with their headshots and resumes.  However, due to the work my father was taking on as a coordinator, he decided to shut down the business.  As an actor, I was lucky enough to score a national commercial campaign and purchase the company from him.  I took over as CEO to revitalize Stunt Players as a contemporary web platform.”

MOST REWARDING STARTUP EXPERIENCESPD_STICKER

“Contributing to an industry that has become my life.  I am obsessed with the film industry and find it my duty to give back in any way I can.  I grew up around stunt people and it only made sense that I help build something useful for those I believe to be the hardest working, most under-appreciated heroes in entertainment.”

OVERCOMING OBSTACLES

“I am a film-lover and cinephile more so than I am an entrepreneur.  While I have a sharp focus on what Stunt Players must innovate and execute, the biggest obstacles are technical ones.  Fortunately, I work with an incredible development team that has become my “pit crew.”  No production succeeds without a reliable cast and crew, even behind the scenes.”

ADVICE TO ENTREPRENEURS

Build something that you are passionate about, something that you are obsessed with.  If you aren’t obsessed, don’t waste the time.  And then you must love it more than anything else.  I get to work with performers who crash cars, light themselves on fire, and jump from buildings.  It’s full throttle… but I love it.

stunt_players_shareSTARTUP VICTORIES

“The launch of our new website: stuntplayers.com
I won 1st Place in the Regional Los Angeles GSEA (Global Student Entrepreneur Awards) Competition.  We are also proud to have hosted two events in the past year that have brought together a total of over one-thousand stunt performers to mix, mingle, and make connections with working coordinators.  Many of which have gone on to book work on movies and television shows.”