Jamie Goldstein gave a talk in the 100K Executive Summary Contest Finale in Stata Center (this is the contest we have won with Ubitrack). Jamie Goldstein is a famous entrepreneur and now a partner at North Bridge Partners.
North Bridge Venture Partners has offices in Boston and Silicon Valley, have $2B under management, and has invested in successful startups such as Cognio, Sonus, Sycamore or Arrowpoint. They are also quite present in the MIT entrepreneurial community, as 8 of their current portfolio companies are MIT spin offs, including A123 Systems.
He recommended talking and pitching your startup to as many people as possible. It is always good that other people know about what you are doing. And do not be afraid of other people stealing your idea. If that is the case, then the idea is probably not very good or your team is not the most appropriate to make it happen.
Interestingly, yesterday Noubar Afeyan, managing partner of Flagship Ventures and my professor of New Enterprises, also mentioned that launching a startup is about talking to a lot of people that know other people that finally refer you to the final person that is interested in your idea or gives you the good piece of advice. And along the process, you become a "beggar" :-)
Jamie also mentioned that ~90% of the ventures he invests in do not even have an executive summary or formal business plan.
Below you have a picture that shows how he evaluates Business Ideas.
After the event, he invited us to talk to him about Ubitrack.
Some time before, I did need to buy a building for my organization but I didn't have enough cash and couldn't buy something. Thank God my fellow proposed to try to get the loans from creditors. Therefore, I acted that and used to be satisfied with my financial loan.
Posted by: Parsons34Elva | June 27, 2011 at 11:49 PM
This is well known that cash can make people autonomous. But how to act if somebody has no money? The one way is to get the credit loans or auto loan.
Posted by: business loans | December 02, 2011 at 02:35 AM