Successful entrepreneur and CEO, Jay Adelson, demystifies the startup process by providing advice, tips, and answering questions. Today Jay tackles 3 questions: what’s a good size for a startup, who should comprise the core team, and what’s an appropriate burn rate, pre-funding? Have a question about launching a business that you want answered? Comment or add a video response! Jay Adelson’s Twitter: www.twitter.com Email Your Questions: askjay@revision3.com Never Miss An Episode! Subscribe Here: www.youtube.com Check Out The YouTube Channel: www.youtube.com Facebook: www.youtube.com More AskJay Episodes: www.revision3.com ABOUT ASK JAY: Entrepreneur, CEO, and business owner Jay Adelson (Equinix, Digg, Revision3, SimpleGeo) demystifies the start-up process by providing advice, tips, and answering questions. Submit questions to learn how to turn any business idea into reality and maybe even change the world!
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wayneharrel says:
January 27, 2012 at 2:26 pm (UTC 0)
@askjayadelson i’m looking to get a VP(i mistypes as (“VC”) for design and one for technology who have experience to build our project, you know web 2.0 based projects when you were starting digg, it’s a comprehensive and big project. The most important field is design and technology, rest is secondary. Thanks for advice, I’ll post a video response as promised soon.
askjayadelson says:
January 27, 2012 at 2:38 pm (UTC 0)
@wayneharrel The simple answer is if you don’t have to spend your own money, why bother? I mean, startups fail sometime. It’s normal, you can’t be afraid of failure. If you spend all your personal cash on a business, it makes it harder for that to always be the case! (Sorry VCs, just being honest.)
This being said: If you spend your own money, you retain CONTROL. If control matters, and maximum return, your own money means you don’t have to split the exit proceeds!
askjayadelson says:
January 27, 2012 at 3:12 pm (UTC 0)
@wayneharrel Sounds more like a good advisor…What would he/she do as an operator in the company?
wayneharrel says:
January 27, 2012 at 3:18 pm (UTC 0)
Also will you recommend us to hire super experts who have been VCs to other company in early phase of the start up for the main team?
wayneharrel says:
January 27, 2012 at 3:55 pm (UTC 0)
this is a wonderful advice. I’ve got a question, is it safe and okay to invest all the money from personal funds? Like how much I got $1.5 in bank and I decides to invest $1 million in my start up. Is it safe or it is worth going to a angel or VC for some cash? If you’ll answer this i’ll post a video response as I got one question which is screwing my mind.