land and expand

Explaining the Land-and-Expand Sales Strategy

All startups want to maximize their revenue from each customer they secure. But for B2B startups that target enterprises, achieving that swing-for-the-fence maximum with the initial deal is practically impossible….

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messy cap table

Common Causes of a Messy Cap Table

The puzzled look on a first-time founder’s face after hearing an investor’s concern of a “messy cap table” happens more than some probably think.  But what the heck does “messy”…

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20 Investor Meetings and No Interest, Now What?

Something is wrong. 20 initial meetings is almost never enough to fully complete a round of funding. But 20 meetings with the right investors should result in at least a…

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fundraising recession

Fundraising After a Sudden Market Downturn

The value of this article will be directly proportional to the significance of a market downturn that creates general uncertainty and affects the ability for startups to fundraise.  All downturns…

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due diligence

Demystifying Investor Due Diligence

I think of due diligence as an investor’s process for confirming either their intention or full-blown commitment to invest in your company. After initial conversations, presentations and email exchanges, a…

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When Service Companies Build a Product

Service companies traditionally have low gross profit margins as compared to tech companies, especially software. That’s because services require human bodies to deliver most of what the customers are paying…

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I’ve been advising startups for more almost 20 years.  During that time I have made more than 350 investments in early-stage companies as a venture fund manager and angel investor, and have been involved with raising more than $100 million in growth and venture capital.  From my 28-year career as an operator in high tech companies, I have an IPO and a $200-million acquisition exit under my belt.  Now, as co-founder and chairman of Austin’s Capital Factory and through my content creation practice, Shockwave Innovations, I have the pleasure of spending 100 percent of my time educating, advising, and investing in startups.