Crack the Funding Code: How Investors Think and What They Need to Hear to Fund Your Startup

Reprinted courtesy of WSTNN.com

by Fred Fuld III

The book, Crack the Funding Code: How Investors Think and What They Need to Hear to Fund Your Startup, by Judy Robinett, is a very extensive but easy to read and understand guide on raising money for your startup.

The book covers everything, from finding the right investors, to knowing what investors are looking for, to closing the deal. Probably the most important chapter is Your Funding Roadmap, which covers finding and reaching the people who can help you. The steps pointed out in that chapter are clear and concise.

Robinett even covers such topics as what to include in a pitch deck, covered in Chapter 8. There is even a successful pitch deck example shown in the appendix.

If you are starting a startup, or need to raise money for an existing startup, I highly recommend that you read Crack the Funding Code.

Straight Talk for Startups: 100 Insider Rules for Beating the Odds

reprinted courtesy of WSTNN.com

If you are an entrepreneur or startuper, you need to read Straight Talk for Startups: 100 Insider Rules for Beating the Odds. The book is written by Randy Komisar and Jantoon Reigersman, both of whom have had extensive startup and venture capital experience.

I have read several books relating to startups, but here is what I like about this one. Straight Talk for Startups has recommendations and advice that you won’t find in other books about running a startup.

Here are some examples.

• You need two different business plans, not one
• Why a part time team member may be better than a full time one
• Why you should NOT provide free lunches to your employees
• Avoid venture debt
• If you are looking to be acquired, choose your acquirer, don’t let acquirers choose you.
• A small board of directors is better than a big board

The authors even provide a sample board meeting agenda.

The book is a well-written, easy read, with every short chapter, each a couple pages long, representing a rule you should follow. There are actually 101 rules in this book, and I believe the last one, covered in the Epilogue is probably the most important.

Whether you are thinking of starting a startup, have recently started a startup, or you are at the point of bringing your startup to a new level, I highly recommend Straight Talk for Startups.

Does Your Startup Really Need a Financial Consultant?

Guest article by Anthony Coggine, HR professional and business writer

Does Your Startup Really Need a Financial Consultant?

In the digital age, accessibility and autonomy are becoming a defining part of startup culture. With a growing freelance economy and so much public information aimed to help small business get off the ground, a growing number of entrepreneurs and small business owners are questioning the needs for services often associated with traditional business practices, such as consulting services. With so many conflicting views on whether or not startups really need financial consultants, it really all boils down to the individual needs of each business.

Here are some of the main arguments, both for and against, taking on a financial consultant that will help you decide whether or not your startup could benefit from these services.

A second set of eyes

You would be hard pressed to come across a business that doesn’t understand the value of a second opinion. When it comes to financial modeling, there are various benefits that come from an expert opinion, but it can also be a risky move if you don’t pick the right person.

Pros:

●      An experienced financial consultant can help you create a customized budget that will help you control your finances and highlight where you can make improvement

●      Financial consultants tend to have a wealth of experience and can introduce new concepts and ideas that will help improve your financial performance

●      Financial consultants can help you develop a financial model that makes room for lucrative opportunities

Cons:

●      Hiring a financial advisor is an investment, thus it’s important that you have goals in place for your new hire to ensure you aren’t wasting time and resources

●      A financial advisor that doesn’t specialize in your industry or understand your company culture could potentially point you in the wrong direction

●      Taking on a consultant's means opening yourself to someone else's opinions, which can backfire if you aren't ready to introduce new ideas

Before making a final decision, it’s essential that you establish any issues that you might be facing. In addition, map out your expectations in order to understand the various pros and cons of taking on a new team member and whether or not that will work for you.

Financial health isn’t only about dollar signs

Growing businesses often start out with a small core team that handle pretty much everything from marketing to human resources and financial matters. Bootstrapping your business naturally instills a sense of pride and unity within teams, but as you start to grow you run the risk of burning out your team members. While most companies take on financial consultants to help organize money matters, there are also numerous advantages for the human side of your business, as long as you know how to reach them, of course.

Pros:

●      Financial advisors can evaluate your team structure and make suggestions on potential new hires or training needed to streamline team efficiency and productivity

●      Finance experts can help you execute a strategy that caters to your specific needs, whether that means cutting down on certain resources without compromising growth

●      Taking on a financial consultant can help relieve burden from less experienced team members who may be taking care of financial tasks to save on costs

Cons:

●      Hiring a consultant to help you improve productivity is only possible if you have a good sense of team dynamics, as an outside hire cannot help you improve without your internal knowledge

●      Taking on a financial expert that doesn’t have experience in your industry is risky as they may provide advice that doesn’t pertain to your company

●      Startups should most likely avoid financial consultants that primarily work with corporate entities as they may not understand the needs of startups

If your startup has recently received funding or is experiencing an uptick in growth, taking on a financial consultant can help you transition smoothly as you grow.

Evaluating the pros and cons of taking on a financial consultant is a reliable first step that will help you assess whether or not your startup could benefit from an outside opinion and the services provided by a consultant. Luckily, as the startup ecosystem continues to grow, an increasing amount of finance experts are now expanding their skill sets to include early stage businesses in the digital age.

All Startupers Need to Read Angel by Jason Calacanis

Are you an investor? Are you the founder of a startup? Do you work for a startup? Are you a venture capitalist that specializes in startups? Are you an entrepreneur? If you answered yes to any of these questions, you need to get the book, Angel: How to Invest in Technology Startups-Timeless Advice from an Angel Investor Who Turned $100,000 into $100,000,000 by Jason Calacanis.  

If you don't know who Jason Calacanis is, you should. He is one of the top angel investors in the United States, and hosts the Launch Fesitval in San Francisco, which has featured numerous startups. 

Calacanis has invested in such companies as Tumblr, Uber, Evernote, Robinhood, Thumbtack, and numerous other companies.

His book takes you through all the steps to become wealthy through startups, from evaluating new businesses, determining the risks and rewards, and building upon your angel investor relationships.

If you are interested in making money through startups, I highly recommend the book, Angel.

Don't Miss the TechCrunch Disrupt Conference

The TechCrunch Disrupt Conference will be held at Pier 36 in New York City on May 15th through the 17th. You have 16 days to get tickets before prices go up. 

If you have a startup in any of the following areas, you have a chance to display in Startup Alley for free: 

• Artificial Intelligence & Machine Learning
• E-Commerce
• Fitness & Beauty
• Fintech & Payments
• Food & Beverage
• Hardware & IoT
• Health & Biotech
• Media, Gaming & Entertainment
• Mobility & Transportation
• SaaS, Marcom & Advertisement
• Security & IT
• Virtual Reality & Augmented Reality
  
  

If you want to be a speaker at the event, you can submit your submission here. 

Hopefully, you will get the chance to attend. 

Four Failure Points that Undermine Biz Success: #1 is Dont Follow Your Passion

by Ed McLaughlin

Veteran entrepreneur and former Fortune 100 executive, Ed McLaughlin comments below about the reality that Americans can see failure as a stepping stone to success, “It’s difficult to celebrate failure as a stepping stone to startup success if entrepreneurs can’t pay their bills, provide for their families, meet payroll or realize their business visions.” Ed's own research tells us that 75% of new businesses fail within the first five years. Ed continues with this challenge for small business owners and entrepreneurs in some of the big ‘innovation-driven’ cities, “What if we could turn the tables on the startup failure rate by introducing a new set of business principles that increases the probability of startup success?” He also offers the four failure points things that undermine the success of a small business below, excerpted from his book, using his own company as an example. Ed has also highlighted the framework for sustainability and profitability in his new book, The Purpose Is Profit: The Truth about Starting and Building Your Own Business, by focusing entrepreneurs on these principles, including: Distinctive Competence, Dynamic Planning, and the Ten Commandments of Startup Profit.

Only nine months after starting USI, I launched a second business called Sigma Communications Inc., or Sigma for short. Starting Sigma had been the culmination of a long-term vision to create a vehicle that would more efficiently connect buyers and sellers of commercial real estate. After three years of bleeding red ink, I was forced to shut down Sigma.

Here are the 4 failure points that undermined the success of Sigma Communications.  

             Failure Point #1: Starting a business based on passion alone, rather than building a business based on distinctive competence.  

When I started Sigma, I believed that my passion for publishing the magazine would trump everything else. That proved to be a costly assumption. The hardest lesson I learned from the Sigma experience is that a venture filled with passion is not enough. You will substantially increase your probability of startup success if you build a business based on your distinctive competence.

Failure Point #2: Starting up without preorders to validate your business model. 

I made the fateful decision to launch the magazine without selling advertising and securing paying customers first. In the end analysis, I took a huge gamble on a concept business with an untested business model. Sigma spent millions before I shuttered the business in failure. Securing preorders is the single most important point of validation for a startup.

Failure Point #3: Launching your business without adequate time and funding to reach profitability. 

Unfortunately, I had not properly factored the size and scale of Sigma, nor how long it would take to ramp-up to profitability. Since I had never manufactured and shipped a product before, I underestimated the continuous cash drain from ongoing production and distribution. Rather than bootstrapping the business with the profits from USI, I should have lined-up outside funding with a more reasonable timeline to breakeven. Make sure to allocate the time and the funding needed to achieve profitability. 

Failure Point #4: Closing your ears to the advice of industry experts. 

Rather than listening to my advisors, I convinced myself that I could beat the normal ramp-up to profitability in the publishing industry. My unbridled passion for becoming a publisher, combined with my lack of distinctive competence put blinders on me. Cultivate relationships and heed the advice of industry experts.

Ed McLaughlin is the founder & CEO of Blue Sunsets LLC, a real estate and angel investment firm based in Darien, CT. Previously, McLaughlin founded and served as chairman & CEO of United Systems Integrators (USI) Corporation, a corporate real estate outsourcing firm, sold to Johnson Controls (JCI) in 2005. In 2001, he earned Entrepreneur of the Year honors from Ernst & Young, and USI was named to the Inc. 500 list of America’s fastest growing companies. His book,  The Purpose Is Profit: The Truth about Starting and Building Your Own Business, is available on Amazon.

Last Day to Attend the Launch Festival in San Francisco

The Launch Festival at Fort Mason in San Francisco has been running for a couple days, and today is the last day. If you haven't attended yet, you really need to get over there. Many speakers and hundreds of exhibitors.

The Demo Pit opened at 8 am this morning and the theater doors open at 9:30 am. You really need to check out all the exhibitors.

An example is CafeX, which has a large robot arm inside a cylindrical kiosk that will pour and serve you coffee that you order through an app on your phone.

Then there is Bolt Motorbikes, which creates electric bikes that look like motorcycles but legally qualifies as bicycles.

Then there is Meadow, which is an online service that allows you to order medical marijuana through their website, and have it delivered to you.

Don't forget to stop by the Jungle Bar table and taste the cricket bar.

The exhibitors are very diverse in terms of industry, so you really don't want to miss seeing them. More info can be found at:

 Launch Festival 

Exclusive Startup Interview with Shaun Moore Co-founder & CEO of Chui

In a continuation of our series on startups, the following exclusive and fascinating interview was graciously provided by Shaun Moore, who is the Co-founder and CEO of Chui.

Why don't we start by briefly describing your company's intelligent doorbell?

Chui’s first product is an intelligent doorbell that uses a blend of facial recognition and proprietary technology capable of learning with time to make our homes safer, and our experiences with connected devices seamless; Chui does more than enable a house that is smart – it shapes a home that is you.

How did you happen to come up with the idea for the business?

I had just left my corporate job in Chicago and booked a one way ticket to Casablanca Morocco which is where my CTO is from.  We were catching up and reliving memories from college as well as digging into sites like Kickstarter to generate ideas.  The more we talked about trends in the home we realized that everyone was innovating the inside of the home and making it smart but no one was changing the gateway or the portal to the connected home.  We saw an opportunity to not only connect the front of your home but to make it intelligent to the point of recognizing visitors/yourself and acting based on identity.

Who do you consider your direct competitors?

 Ring and Skybell are competing with us in the Smart Doorbell space.  Ring has done an incredible job getting out there in front of the mass market and showing the world why its important to adopt technologies like these.  They have inadvertently helped us do our market research although we have a slightly different approach as we are focusing more on intelligence by using biometrics (Facial Recognition) as a means for customization and access control.

When do you expect to generate income?

 We have been taking pre-orders since last year and intend to fulfill those shipments early in 2016.

Did you get any venture capital to begin with or are you self funded?

We started as self funded and raised a small round of angel financing after completion of Boomtown Boulder Accelerator.

How long have you been in business and where are you located?

We started engineering the product in March of 2014 in Boulder Colorado and have since relocated to Dallas, Texas.

How many employees do you have and do you use virtual assistants?

There are 5 of us and we do not use virtual assistants.

Tell us a little about your background.

I'm driven by a love for exploration and innovation. This has led me to be the Co-Founder and CEO of Chui, an  intelligent device that uses facial recognition, machine learning, AI and other computer vision technologies.  Chui has customers in over 30 countries and has been featured in TechCrunch, Forbes, CBS, WSJ and a few others.

I played Division 1 football at Southern Methodist University in Dallas, TX and graduated with honors with a degree in Finance and a specialization in Alternative Asset Management.  My journey to create Chui began three years ago, leaving Merrill Lynch Private Wealth in Chicago and booking a one-way ticket to Casablanca, Morocco to pursue my entrepreneurial vision: make technology accessible, personal, and trustworthy.

Prior to Chui, I worked on a startup in the mobile application industry. I've been fortunate to have lived on three continents and regularly participate in international communities for the advancement of global entrepreneurship. I've continued to share my story and vision through speaking at several events across the world from San Francisco to Barcelona.

What are your plans for the future of the company? Any new products on the horizon?

We have some exciting announcements in due time (I can't give those away yet!).  We feel that our technology will create an environment that is as seamless as walking through a door.  We firmly believe that biometrics is the future of authentication and authorization and with a product like Chui we are one step closer to breaching the nexus of convenience and security.

What do you consider your biggest challenges as a startup?

Attracting top talent to leave their comfortable job to come help disrupt an industry or thought process.  As a startup there is no class you can take or book you can read that will give you the answers to your problems.  You have to learn by doing and by making mistakes and by surrounding yourself with people who have been in your shoes before.

What one or two pieces of advice would you give someone who is developing a startup?

Listen, listen, listen!  Listen to you customers, your backers, your investors, your friends and family.  Aggregate everything people have told you and make your own decision based on all of the available information.  At the end of the day you are writing your own story so make intelligent quick decisions that get you from point A to point B and if it was the wrong decision learn to never make that mistake again.  Entrepreneurship is very much about continuing education and the best resource that we as entrepreneurs have is the available knowledge on the internet, in books and through relationships.

Where can people go to get more info on your product?

www.getchui.com

Thanks very much for your time.

Checkout SMARTCAMP 2015 for Startups and Win $25,000

Have you heard of SMARTCAMP 2015? If not, you should check it out. You could win $25,000 plus acceptance into the 12-week, LAUNCH Incubator.

This is a startup competition taking place in 30 cities, with IBM and LAUNCH as the hosts. The cities include:

Auckland

Austin

Bangalore

Boston

Cairo

Casablanca

Chicago

Istanbul

Johannesburg

London

Los Angeles

Melbourne

Mexico City

Montevideo

Mumbai

Nairobi

New Delhi

New York

Raleigh

Sao Paulo

San Francisco

Silicon Valley

Singapore

Tokyo

Toronto

The finalists will get to meet top Silicon Valley investors in San Francisco at the SCALE Conference which will be held on October 13th and 14th. They will return to the LAUNCH festival held March 2nd through the 4th, next year.

Need an application? Go to the following link:

smartcamp2015.com

GoPro versus Soloshot: Competition or Complimentary?

Many people are familiar with GoPro, maker of the high def extreme action video recorders, that can be attached to a helmet, bike, skateboard, or just about anything, and can capture the viewpoint of the action sports participant.

The company has had a volatile stock since it went public last year, trading for less that 40 and above 90 over the last 12 months.

GoPro is even becoming a media company. It has its own television channel on Virgin America Airlines.

But there is another company in the action sports camera business, Soloshot.



Soloshot's camera's will track you as you are moving (surfing, biking, skateboarding, skiing, water skiing, etc.) by following a tag device that you have attached to you, such as on an armband. The cameras are referred to as a robot cameraman.

Soloshot was founded about ten years ago by Chris Boyle, who developed the idea as a way for surfers to film themselves.

So are Soloshot and GoPro competitors? Do you think they compliment each other? What do you think?

An Interesting New App That Can Tell You How Old You Look

I remember years ago, if you went to a carnival, there would be  guy standing by a scale who, for a dollar, would guess your age within two pounds or your weight within three pounds. If he missed, you would win a stuffed animal. He would almost always be right. But if he was wrong, he only had to give out the toy, which probably cost him less than a dollar in quantity.

Now, I haven't seen an app or web site that guesses your weight (hey, there's an idea for a startup), but there is a site that guesses your age. It is called HOW OLD DO I LOOK? and the web address is How-Old.net.

What you do is type in the name of a person who's picture you want to find on the Internet (like maybe yourself), and it comes up with a group of pictures. Click on the picture you want to check, click on the Use This Photo link, and a page appears showing the estimated person's age.

If you can't find the picture you want on the Internet, you can upload your own photo from your computer.

It seems to err on the side of younger for older people and older for younger people.

An interesting idea, which should trigger other similar startup ideas for you.

Beyond James Altucher: More Mega Trends for the 21st Century

If you haven't heard of James Altucher, you probably haven't been on the Internet for very long. He has published over a dozen books, been interviewed many times by the press and blogs, and has written numerous articles on widely varying topics including investing, personal growth, running a business, publishing books, interpersonal relationships, yoga, entrepreneurship, and many, many more.

In his latest book, The Choose Yourself Guide To Wealth, he talks about the seven mega trends for the 21st Century, and how the knowledge of these trends can make you money. For the entrepreneurs, venture capitalists, and investors, being aware of these trends can help you determine what kind of company to start or invest in, or if you already have a business, what areas to expand into.

The seven mega trends that Altucher came up with are...



all spelled out in his book and are covered in great detail. I don't want to give them away, since the book does a great job of explaining them, plus I highly recommend the book anyway.

Also, what I would rather do is mention some additional mega trends that startupers and VCs should look into. My trends may not be as 'mega' as the ones that Altucher has come up with but even though they are more narrow, their impact is great. Here they are.

Asset Rental

Why did Airbnb, Uber, and Lyft come about? People needed money, they owned assets (houses, cars), and rented out those assets to generate income. I believe this need for income will be covered by other personal asset rentals.

For example, do you own a Porsche Driver's Select RX Bike, or a Callaway Big Bertha Iron Set or even a Stellar S14S Excel Surf Ski Kayak? If you don't use them every weekend, why not rent them out? Anyone who is considering buying an item like this might want to try it out first before making a major expenditure. Or someone who skis but doesn't own a pair, might just want to rent some nice ones for a weekend. A deposit would need to be collected of course.

Even better yet, why not create a website/app that would put the owners and renters together. The service could cover the payments and deposits.

Drought and Water

Maybe this is more of a California thing but the drought in California is a major issue and keeps getting worse. In addition to affecting individuals with their water consumption, it will affect the price of produce which will eventually affect the rest of the country. Any business connected with recycling water, desalinizing water, or just getting water from somewhere and providing it to consumers and businesses should be drowning in money.

In regards to some water startup ideas, how about an app to track your water usage? Devices for capturing rainwater and purifying it? A way to convert grey water to usable water, at least for plants? Fake but realistic looking lawns (this is starting to become a big business in California)? Transporting water from heavily rained on east coast and midwest states to the west? The ideas are almost limitless.

Spanish

Maybe this is another California thing but I don't think so. I was driving from the San Francisco Bay Area to Los Angeles, and as I reached the LA basin, I searched for a radio station that played classical music. After scanning the entire FM spectrum, I discovered that more than 50% of the stations were Spanish speaking stations. Spanish is very common in California and many other states.

If you are English/Spanish bilingual, you have a big advantage. The possibilities are unlimited. Providing Spanish versions of websites and apps has big potential (those automatic translators are not perfect), and can help businesses reach significant new markets. Translation services in both directions, tutoring services, teaching, subtitling, and so on. Bilingual TV programs will become more popular.

Cannabis

It is inevitable that marijuana will be legalized, it's just a matter of when. Initially for medical purposes and eventually for recreational purposes, as you can see more and more states moving in that direction.

I heard recently from a friend that the tax revenues from legalized pot in Colorado is so great that the state is considering either building brand new schools throughout the state and tearing down the old ones, or sending out a check to every resident of the state, similar to what the Alaska residents receive from the oil royalty fund.

I haven't had a chance to verity this or not but if it is even close to being true, it shows that legalization can be a big source of income for state governments, and even the Federal government, not to mention the jobs potential.

What amazes me is not the number of people that use marijuana (the number of senior citizens that use medical marijuana is enormous), but the number of people that don't use but support marijuana legalization.

The trend is there. It is just a matter of choosing the right business idea. In terms of ideas around the legal weed industry, they should be fairly obvious. Just make sure that whatever you do is currently legal.

Mega Trends

Hopefully, these mega-trends will give you some ideas about where to put your money and your energy, whether you just want to be an armchair investor, take an ownership and management position in an existing company, or startup your own company. May the trends be with you.

The Snoop Dogg Marijuana Startup Fund

A lot of astute and famous investors are jumping on the marijuana startup bandwagon, such as Peter Thiel, Ashton Kutcher and Justin Bieber. Now the famous blogger Snoop Dogg, who is now also going by the name Snoop Lion, is setting up a venture capital fund to invest in marijuana startups. Cannabis companies have been cropping up like weeds. Although many of these startups may go up in smoke, the ones state survive can pay off big time.

According to sources reported by TechCrunch, Snoop Dogg is raising $25 million to invest in startups related to the pot business, primarily in technology related companies in the weed industry.

Snoop Dogg isn't a novice in the investing field, as he has a;ready invested in Robinhood and Reddit. It will be interesting to see what companies he chooses to invest in. For a list of numerous marijuana stocks, go to WallStreetNewsNetwork.com.

How to Launch your Startup at the LAUNCH Festival 2015

Are you involved in a startup and looking for investors? What better way to do so than presenting your company at the upcoming LAUNCH Festival 2015, which will be held in San Francisco March 2 through 4.

Launch is looking for 50 companies to appear on stage. The deadline to apply is 2/1/15 and you will ned to provide a screencast demo of you using your product as part of the application.

There are three categories. 1.0 is for companies that have had no publicity whatsoever. 2.0 is for companies that have already launched but have a significantly now product of feature. The Crowdfunding category is for companies that will have an active Kickstarter or Indiegogo campaign running during the festival.

For more information, go HERE.

Even More Second Best Ideas for a Startup

If you missed my articles recently on my Second Best Ideas for a Startup, you should check them out here and here. These are startup ideas that I thought of that I'm not pursuing myself for various reasons. Hopefully, you will take one of these ideas and run with it.

Spray Paint Reflector

Graffiti is a major problem throughout the United States. If there was some substance that could prevent spray paint from sticking, it would really sell. Governments and commercial properties would be huge buyers of such a product. This would be something that would be sprayed on walls, and would be clear. If the wall was spray painted with this protection covering it, it would wash off with water or wipe off with a rag. Any science nerds out there that could come up with this?

Earthquake Detector

On the news on a local TV station, they reported that an earthquake detector could be made by anyone for around $100, and could warn people ahead of time about an upcoming quake. How about someone mass producing these and selling them for $19.95? Even better yet, how about an earthquake detector app? An Apple iPhone earthquake detection app would sell like hotcakes in California.

No Calorie Chocolate

Obviously, obesity is a major problem in America. Most people like and eat chocolate. So how about chocolate without or with very few calories. This is what would be needed to make this successful:

• No weird chemical sweeteners
• Needs to taste exactly like chocolate (I know carob is sometimes considered a substitute, but not an exact match in taste)
• Needs to look exactly like what chocolate looks like
• The cost (and price) needs to be reasonable

So how about it? Think any of these ideas that can make you millions?

How to Get on Shark Tank

Shark Tank is the reality TV show for entrepreneurs. It has been the most watched TV program for the 18 to 29 year old demographic for Friday nights, garnering over 6 million viewers for each episode. If you can get on the show, even if none of the sharks invest with you, the free advertising you get for your startup is priceless. The sharks include Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O'Leary.

So what do you do to get ready for and get on the show? There are actually just a few simple steps, but each step can take some work.

Are Your Ready?

1. First, determine if you are ready. If a venture capitalist came to visit you right now, would you be able to make your presentation immediately? Do you have your business plan and pitch deck ready? Have you memorized it?

Getting Ready

2. Next, watch a couple shows and write down every question the sharks ask. Then have a co-worker or friend ask you every one of those questions. Standup when you respond. You may think that this step is putting the cart before the horse but it's not. Often, these shows want you to act quickly with the producers wanting to meet you within a couple days. You need to be ready way ahead of time.

No Confidentiality

3. Understand the lack of confidentiality with your proposal, and the terms of service. If you are concerned about someone stealing your idea, then maybe you should reconsider being on Shark Tank. The (Shark Tank, ABC, Disney) Terms of Service can be found at:  Terms of Service

How to Apply

3. Apply. There are actually two ways to apply; the first is to send in your proposal by email. Send your name, age, contact information, a recent photo, and a description of your business that will not remain confidential. You can email your proposal to: SharkTankCasting [ at ] yahoo {dot} com
More information about applying can be found here.

Open Calls

4. The other way to apply is through an Open Call. An Open Call is when an event is held in a certain city and you just show up to give your proposal without an appointment. To see a list of Shark Tank Open Calls, you can go to the following link:  Open Calls

Responding

5. If they contact you, respond immediately. If they want to meet you, drop everything and cancel everything to meet with the producers when they want to see you. 

Practice

6. If they decide they want you on the show, then practice, practice, practice and make sure you have all responses that you can answer with ease. (See step 2.)

At this point it's now in your hands. Best of luck!

Launch Festival for Startups March 2 - 4, 2015 in San Francisco

Have you started a startup? Do you want to invest in a startup? Do you want to learn more about starting your own startup? Then you should sign up now for the Launch Festival in San Francisco, which will be held from March 2 through March 4, 2015.

The keynote speaker will be Jeff Weiner, the CEO of LinkedIn. Previous speakers have included Marissa Mayer, Peter Thiel, Sheryl Sandberg, and Mark Zuckerberg.

There are a few competitions:

 LAUNCH 1.0 - This competition is for completely new companies who haven't had press or public demos, and whose services are currently in closed alpha or beta. Early Bird Deadline to apply is 12/12/14.

LAUNCH 2.0 - This competition is for existing companies that are launching new products or significantly new features of an existing product. Early Bird Deadline to apply is 12/12/14.

LAUNCH Hackathon - This competition is for the best LAUNCH Hackathon project.

For tickets to the Launch Festival, go to the following link:

Launch Festival Tickets

My Second Best Ideas for a Startup

Every day I try to come up with different ideas for a new startup business. The best ones I am keeping for myself for obvious reasons. However, I have many other startup ideas that I am rejecting for many reasons, and would like to share with everyone.

Some ideas have already been done and I just didn't realize it. Other ideas would take up too much of my time. And for some, I just don't have the expertise.

One idea that I came up with while making breakfast is a toaster with a timer on it. There is nothing I hate worse than standing there waiting for my toast to pop up. (Actually, there are other things I hate worse, but not usually at breakfast time.) It would really help if I could see a digital timer on the toaster, just like what a microwave has, instead of just staring at the lever on the taser. Unfortunately, Cuisinart already came up with a Toaster with Countdown Timer which I happened to find on Amazon. As a matter of fact, it retails for $130.00, but has been marked down to $39.99.

Another idea I had was a silent leaf blower. The gardeners in my neighborhood drive my dog crazy with the noise from those machines. I checked Amazon again, and although I didn't find a silent leaf blower, I did find a Husqvarna Back Pack Blower which is described as having minimal noise.

A politically incorrect idea I had would be a book about how to get out of jury duty. I've seen books on how to get out of speeding tickets but there are far more people that get jury summons than speeding tickets. Of course, the book has been written, 10 Ways to Get Out of Jury Duty. It's even written by an attorney.

I do a lot of tweeting. It would be nice if there was some software that could extract all my tweets, then sort them by hashtags, and make them exportable to Word or Excel. I haven't found any such software in my initial search.

One other idea I had was a child/pet/property finder app using RFID size transmitters to provide locations on your smartphone. The RFID could be sewn inside a child's clothing, attached to a dog's collar, or put inside a car or computer. Is it technically feasible? I don't know. Has it already been done? I've seen something similar.

Anyway, that's it for this week. I will try to come up with another set of second best startup ideas next week.

The Lean Startup Conference

If you are looking for a way to improve your chances as an entrepreneur, you should make it a point to attend The Lean Startup Conference, which will be held in San Francisco on December 8 through 12, 2014. The  conference will be held at The Fairmont Hotel, in the Nob Hill district of San Francisco at 950 Mason Street.

Sponsors include Pivotal Labs, O'Reilly Media, EventBrite, and WeWork. There are already 15 speakers identified, and the workshops include:

• Startup Metrics: The Data That Will Make or Break Your Business
• Lean Startup 101
• Introducing Lean Startup in Your Corporation
• Lean Impact
• Innovation Accounting

For more information and to register, go here.

LinkedIn Bought Startup Newsle

LinkedIn Corp. (LNKD) made a major purchase today. It bought the San Francisco startup Newsle, a news alert company.

Newsle provides instant emails to users on news items relating to their social network connections, using machine learning algorithms.

LinkedIn closed up 3.12 today, reaching a high of the day of 162.74.