entrepreneurship

Innovation and re-invention at the Stanford Cool Product Expo

STANFORD, Calif. -- Finding a new product idea is never easy. You have to understand your target audience and test the market. But not every new product comes from a new idea -- sometimes the best products are simply new ways of viewing the world, or new approaches to old problems.

At the Cool Product Expo held at Stanford University this week, a few of the designs on hand are re-imagining some classic products -- in ways you might never have thought possible.

One company, Impossible, is hoping to revive instant photography, and dozens of other companies -- 11 of … Read more

How to find and get the most out of an entrepreneurial mentor

I don't know where I'd be today without my entrepreneurial mentors. A lot of successful entrepreneurs will tell you the same thing.

Every 20-something entering the job market should have a mentor that can help her navigate the business world, but the bond between an entrepreneur and her mentor is unique. There aren't a lot of tougher mountains to climb than starting a company from scratch, and the emotional stress of a startup can be overwhelming. Being able to learn from somebody who's gone through the ups and downs is invaluable.

"Mentorship is a critical … Read more

Why startups shouldn't be afraid of Facebook cloning them

How long does it take a multibillion-dollar technology juggernaut to clone a popular social networking app? The answer: less than two weeks.

I am, of course, talking about Poke, Facebook's clone of Snapchat, the app whose messages self-destruct after 1 to 10 seconds. As many people like to point out, it's perfect for sexting, but there are a lot of other fun and innovative uses for this clever type of messaging.

For all intents and purposes, Poke is almost identical to Snapchat. Snapchat is focused on photos and videos, while Poke adds self-destructing messages and the classic Facebook … Read more

What Square's rise means for the startup ecosystem

Square is different than any other startup that has come before it, and its growing influence and size will inevitably lead to a change in the way entrepreneurs run their companies and venture capitalists invest.

There's no doubt that Square is on the rise, but it is set to accelerate its growth, thanks to a strategic investment from Starbucks that places Square's technology in front of millions of consumers. And thanks to Starbucks, Square's revenue and valuation are set to soar.

Perhaps this is why more pundits are calling Square "Silicon Valley's next great company,&… Read more

Technology vs. traction: The two types of startups

One of the most important qualities investors look for in a startup is defensibility. Can a startup's product quickly be copied? Does it have technology or patents no company has had before? Are users flocking to its product like locusts?

At the seed stage, when startups are in their infancy, I believe there are two type of startups. The first is the technology startup -- it's a company that is defensible because it has built unique technology nobody else has. The second type of start is the traction startup -- unlike technology startups, the traction startup is defensible … Read more

In the social media era, even VCs need personal brands

Nobody wants to admit it, but building a personal brand is essential if you want to thrive in a business world dominated by social media. This is especially true for entrepreneurs and even venture capitalists who have only recently stepped out from the shadows and into the spotlight.

I became intrigued by the rising role of personal branding in the VC world by a New York Times article last week that discussed how more VC firms are hiring PR specialists to help brand their firms.

Here's a quick excerpt from that article:

"Now, Sand Hill Road in Silicon … Read more

Five ways to screw up your startup's pitch

Pitching your startup idea to investors, journalists, and random people on the street is a rite of passage for all entrepreneurs. You have to convince hundreds (if not millions) of people that you're building something worthwhile and that they should get on board.

Most pitches fall flat though (the best VCs invest in perhaps 1 percent of the startups that pitch them), and it's often because of simple problems that could've been avoided. Nervous entrepreneurs stray from their story, and arrogant entrepreneurs demand unreasonable valuations and then get laughed out of the room by top-tier angels.

Here … Read more

NYC Generation Tech aims to turn high schoolers into techies

Despite the lagging economy and slow job growth, the tech sector is booming. And according to some estimates, it's only going to get better. This may be one of the reasons why some politicians and educators are pointing kids in the tech direction.

New York City's Economic Development Corp. and the Network for Teaching Entrepreneurship announced the launch of NYC Generation Tech today. It's an initiative aimed at teaching the city's high school students hands-on tech training while also pairing them with mentors in the biz.

Designed specifically for "students interested in transforming the world … Read more

How to cope with the emotional stress of a startup

Imagine experiencing the pain, sorrow, and misery of a breakup. Now imagine winning the lottery the next week. That's the kind of emotional roller coaster a new startup founder can expect.

"The emotional ups and downs were the biggest surprise for me," a founder of a Y Combinator-funded startup says in one of Paul Graham's essays. (Graham is a co-founder of Y Combinator.) "One day, we'd think of ourselves as the next Google and dream of buying islands; the next, we'd be pondering how to let our loved ones know of our utter … Read more