Too many times,impossible to keep track of the numbers.
Yes,the idea is very exciting :)
If I see the other person is willing to do all that it takes to succeed and is prepared to listen,to talk, to share that is enough for me to support the project.

posted June 8, 2008

In about two hours, I can help people re-examine their human capital and create solutions that they can sell, through their new startup.

I charge $200-$500 per hour for consulting on the phone. The expertise, insights, knowledge and SPECIFIC PRODUCT IDEAS that I share during the session, are worth hundreds of thousands of dollars, if executed properly.

Most professionals and managers currently working as employees would love to become financially independent and not have to work for a living. But they are missing one key insight:

*** Financial freedom requires a business, and every business requires a product. ***

Yet, the overwhelming majority of professionals and managers work, every day, on delivering a service -- they rarely think of creating a product.

Even the service they deliver is quite unclear and ambiguous.

However, more and more people are growing aware of the huge potential that the New Economy provides for starting knowledge-intensive, Web-based, technology-leveraged businesses based on their unique human capital (both tacit and explicit).

What excites me when talking to an entrepreneur is imagining his/her product in the hands of millions of people. Of course, this assumes that his/her product is good, is working, is affordable and is wanted by enough people.

Links:

• http://www.powerknowledge.net

posted June 8, 2008

It depends a little on what you call a start-up. I have worked with start-ups that have 100 to 250 staff and have been in existence three years - in the same vein that Linked'in is still referred to as a start-up in the press sometimes. Or whether you really mean three men and women working evenings in a garage or even something in between.

In the first case you can get standard consulting roles as typically the start up has cashflow and venture capital investors. The consultancy roles are often based on procedural and operational consultancy - such as how to manage the fact that the staff has grown from 15 to 250 in nine months without the structure required to manage, train and evaluate 250 staff.

If you start at the other end the consultancy you provide will depend a little on the knowhow and background of the entrepreneurs. I have meet several people in this case who can be engineers/developers with a great idea but no marketing or finance experience for example. On occasion I have met someone with a great idea who has no experience of business as they previously were a housewife or teacher etc. Another case you find frequently are consultants from big firm consultancies who have never got their hands dirty. If you consult these companies they may need some directional advice, introductions to financiers, help writing a business plan, coaching on how to speak in public (don't underestimate how engineers and developers often have no experience doing this!) etc. Depending on the nature of the start-up who may end up doing some of this for free - say a couple of hours of high level advice for free. The biggest challenge as one poster mentioned is to get paid - but sometimes the 'consulting' includes finding financing including government entreprise grants, business angel funding etc out of which you get paid. You could alternatively seek sweat equity if you have other sources of finance to pay the rent in the meantime.

In think often more than consulting, start ups often need people that can come in on the ground (even on a short term basis) and make things happen such as developers, sales and bus dev etc. For example to help mock up the first prototype or canvass the first customers in order to help the pitch for finance.

It can be fun work - particularly if you have some secondary interest. For example, you yourself are looking for good start ups to invest in.

posted June 8, 2008

Hi Ravi,
I provide mentoring/advice to several tech startups in Australia - via an incubator. I see several recurring themes - the owner usually doesn't want to let go of the baby - hence stifling growth; no one is actually doing sales - i.e. sales happen by accident, and therefore long term growth is unsustainable; there is rarely enough cash. These are the things that hinder young companies. I try to offer support especially on the sales front - nothing happens till someone sells something. All the great technology in world won't sell itself in the long term.
And yes, if you are looking for people to build a team for worldwide startup help, then I would be interested. First Poland, then Russia in the Springtime! :-)
cheers,
Paul.

posted June 8, 2008

I have assisted numerous start-ups, and have served as interim CEO of a few select ones, to get them off to a rapid and sustainable start.

The major challenge is to be pragmatic. I can become enthusiastic about any new idea. But it has to be "future proof". Most start-ups fail, either because they have not done thorough SWOT analysis, or they charge ahead ignoring the identified weaknesses and threats.

Over-enthusiastic management is not realistic; pragmatic optimism is what is needed. My experience in this rests on my former career as a banker, where we were lending to numerous start-ups. Most are simply not bankable. A few will be spectacular, and that success does not mean they have to have their own capital; if they have a "future-proof" idea, a pragmatic lender will eagerly finance the project.

So the major challenges are having a "future proof" concept and business model, and pragmatic management. In the latter case, most innovators are not good managers; they are good at starting something but cannot drive it to successful conclusion. So they need to learn to give up some ownership to those who can bring the project to fruition.

posted June 8, 2008

Ravi,

Answer is yes. I mentor start-ups in USA, India, Japan and to a certain extent in S. Korea and Singapore. When I mentor new endeavor, I take one step forward and two steps backward knowing that subconsciously first-time moves with the similar traits and basic-instinct of a first-time mother. However, as time moves on I move forward only. This is a critical step – if I am unable move forward within three months, I drop the project and I move on.
Start-up is Business, thus profit is in the equation. Thus, profit-sharing should be in the equation – justifiable profit-sharing/compensation brings the motivation for all – I am also part of the equation. As I am a mentor only, I am not part of the RISK-equation. Hence, time taken out from other projects to mentor an entrepreneur should be compensated accordingly. No good deed go un-reward and valueless services fall short very rapidly. Therefore, to serve the best to an entrepreneur – a value should be added to the service at the very beginning.
Thank you.

Links:

• http://www.biopreneur.org

posted June 8, 2008

I try to instil in venturers who call me the proper braggadocioic self promotatory excesses--that make them a fit to business cultures in general and help them to stand out from the casual egotism of usual businesses and business"people". I charge $25,000 for 5 minutes and give deep discounts to people openly contemptuous of what I say.

More seriously, I tell them not to waste money on consultants, it makes them look like an incomplete founder team and poorly chosen initial board. Tell all the consultants to go to hell and invite them back when the venture is ready to die of old age. The rule is--if you are smart enough to choose the right consultant, the one you need, then you are smart enough to find his\her knowledge without paying him/her. This is ALWAYS true.

Links:

• https://www.youpublish.com/richard-tabor-greene
• http://www.scribd.com/people/view/310309-richard-tabor-greene

posted June 8, 2008

I have participated in start ups a couple of times, inclusing my own. It can be very exciting as well as rewarding but there are risks involved.

Each start up is different so differnet factors will be important. One must investigate each on its own merits.

Hope that helps...

ENJOY!!!

posted June 8, 2008

Well Ravi, I've never entertained the thought of myself as being a Specialist for Start-Ups, but I am certainly an enthusiast - more specifically, a hobbyist.
I have always been one for planning procedure and developing solutions, especially in mechanical applications as well as operational protocol. I have designed and built mechanical marvels that have streamlined customary operations, and have even helped me win coveted positions and placements in occupations requiring significantly more background knowledge than what I can prove to possess educationally.
I have crafted business plans and proposals for friends and acquaintances out of love of the art and an interest in seeing success achieved.
One of my most fond proposals was a 16 page typed document that I ended up converting to an interactive website called "It's Your Party!" back in 1997. The plan aided localized entertainment groups to see thru to organizing their events.
What's sad in all of this is - although I'm remarkably effective at helping others to advance, I haven't been fortunate enough to command significant attentive loyalties, nor garner adequate resources to make active successes of things of my own accord.
I think my posturing is too ecumenical or philanthropic; not very excelling qualities for smart guys without a bankroll..

posted June 8, 2008

We have helped several companies from abroad starting up operations in the U.S. The critical elements vary depending on the size of the company, the scope of the endeavor, the vertical and other factors.

It's a really exciting and challenging process. It takes some time to understand the feasibility of each endeavor and to draw a winning business plan. You have to do SWOT analysis for the company and the market they want to enter, collect market research and intelligence to help design the strategies and support in setting in place those strategies and manage the startup.

Some key elements are common to all startups:

1. The need to fully understand the special characteristics of each new market they want to expand in.
2. The crucial point of keeping a leveraged growth.
3. The persistence and tenacity to overcome certain difficulties.

I hope this may be of help. Bye, Hernan

posted June 8, 2008

Hi Ravi
I enjoy it very much but because start-ups can't pay, so I do very little with them directly. Instead, for start-ups, I write books, blogs and speak (university guest lecturer, workshops, etc.). Its they only way they can afford to get hold of what I know.
Cheers
Tom

posted June 8, 2008

Ravi,

I often market myself as a startup specialist because: 1) starting a new venture is what I personally know from my own career path; and 2) I love to work with the challenges, enthusiasm, and courage of entrepreneurs--I love startups!

All of my consulting and eclectic professional career somehow involves startups. My current clients are all startups, ranging from conceptional idea stage to arriving at stable profitability to approaching the IPO finish line. I think about helping bring up someone's venture almost all my waking hours, whether its working with my current clients or fishing for new clients, they are all startups.

My original goal for my consulting business was to build up a worldwide presence in helping entrepreneurs start their own businesses. Yes, the idea of going worldwide with the consulting of startups does indeed excite me.

Things that are critical to consult new startups:
1) Passion and technical expertise of the entrepreneur
2) Assessing the entrepreneur's current business savvy and learning curve
3) How much time will this project require of me to
a) become familiar enough with the technical aspects to help design the business
b) understand the underlying political, legal, and regulatory issues
c) formulate a business plan with a dynamic budget
d) work with the entrepreneur to see to it that the business plan is carried out
e) extract myself from the business, allowing the owner to be sole captain
4) Potential market, demographics and trends of potential consumers
5) Existing financial conditions and financial trends
6) Financial condition of the entrepreneur
7) What has the entrepreneur done to date to launch the business
8) What level of involvement day-to-day involvement will be required/requested/accepted
9) Is there any restrictive timelines to be aware of
10) Can we come to mutually acceptable terms of payment for my services?

posted June 8, 2008

I have been assisting startups for over 25 years.

I provide advice and counselling through INVENTConnect and require them to continue to be involved until they are able to wean themselves off what I provide or find their own feet.

5 things are critical for a startup.

A great product or solution looking to find a market with the means to purchase or a solution to an existing market that has a definate need and that is ready to buy.

A vision and goal to get going that is well researched, documented and planned.

A clear commitment and pathway to look for funds from all sorts of sources and to work at all costs to reach the commercial stages.

A management team to get it up and running and keep it rolling with expertise in a number of areas such as R&D, design, marketing, finance, leadership, manufacturing, logistics, sales or merchandising etc.

An ability to operate with some form of cash flow or where the everyday expenses can be met without a total dependance on continued finance.

A collective vision to get it to a stage that is suited to an IPO or exit.

There are other thoughts that are too long winded for this forum.

David Craker

Links:

• http://www.inventconnect.com.au

posted June 9, 2008

A large part of what I do is work with startups and early stage companies. Having run a startup joint venture with Ernst and Young, I can appreciate the challenges and excitement of the entrepreneur. I enjoy providing both legal and strategic business advice to people who are enthused and fully engaged. The frustration comes from how long and difficult the road to getting the business off the ground often is. Critical to me is the willingness of the entrepreneur to keep going when challenged and to be flexible enough to adapt to changing circumstances. Of course, a solid plan, an ability to execute and some funding are also important.
Don

posted June 9, 2008

Hi Ravi,

There are lots of ways to answer the question of what's critical to a start up. In general, I think a successful business is an interplay between:

The Right Business Model.
Personal Readiness.
Operational Excellence.

More recently, some answers to linked in questions I posed added two dimensions which I think are implicit in the others but are well worth stating explicitly...

Humility (think of the implications for organisational learning)
Customer Service Excellence

I love the idea of humility as a critical success factor.

I hope this prompts some ideas Ravi - good luck with your work.

Best wishes,

Mark.

Links:

• http://www.eriskay-associates.co.uk

posted June 9, 2008

1.) Experience in the field.
2.) Capital
3.) Good Plan
4.) Realistic goals
5.) Good Team
6.) Enthusiasm
7.) Persistence

posted June 9, 2008

We are a start-up and I always look and give priority to give business to people/companies who are start-ups. There are two fold reason to it… one we get good bargain as we are also at start-up stage and it is always good to bootstrap our expenses, two people at start-up have the passion, zeal and for them no account is big or small, they need business to keep them running show. Also since at majority of start-ups the team is young, so we can expect some good and fresh ideas.

As and when we get opportunity to share our pain points and guide others and help them overcome challenges of start-ups obviously all within the time we have available is what I’m always ready for. Yes, association for a long time is what I’m looking at and to start with equity linked performance and target based incentive is good and then when company starts earning, they can pay some fees.

Let me know if I can be of any help to anyone….

posted June 10, 2008

I've been employed in a few startups, in various maturing capacities, and I've been approached by quite many entrepreneurs during the past three years, in need of counsel.

My experience shows that it all boils down to a few things.

First of all it's of paramount importance that the entrepreneur is willing to accept risk, meaning that many people with an idea or a desire to start a company already have full time jobs which has given them a strong sense of comfort. This is where most ventures tragically capsize.

To get the entrepreneur to accept risk and move outside their comfort zone, you need to establish with them, a foundation that will provide their basic needs for a period of time, while they materialize their idea.

Risk willingness goes also for sharing the idea or concept, which as other answers correctly state is a barrier for most entrepreneurs.

The importance of having a good thoroughly made business plan can not be overstated, because without it the entrepreneur risks loosing sight of their original mission and vision, which means they forget the purpose of making the company, resulting in a poor selling proposition.

Most of my involvement has been voluntary so far, but because funds are what entrepreneurs miss the most, I would always consider being remunerated through shared ownership, using stock/shares or other means of non-monetary payment.

Finally there's the composition of the core team, which should be made up by someone with skills complementing those of the entrepreneur, meaning if the person with the idea is a designer/developer, the remaining team should consist of someone with skills in sales, finance and legal skills.

The team can be made as a board of directors, a core team of founders/partners or as an advisory board.

With the prerequisites above in place there's a chance of success, but it still requires persistence.

The thought of helping startups internationally is surely intriguing.

posted June 11, 2008

I can totally identify with your question and would see a benefit in such a program but I think you have to have a way to get them to agree to a longer term relationship and be penalized if they back out early that way they are fully invested.

And I think how you set your pricing really depends on whether you are going into an established market or starting a new one and what you ultimately hope to gain from it. I started my journey with the end in mind per the recommendation of my business coach and making a few bucks now is not a direct benefit of my end goal which will result in something so much greater.

I was super frustrated when I started my business because the people who supported me did not have expertise in providing start up support and people who had expertise (I deemed successful) in running a business didn't have time to consult (not even for pay). I knew what I wanted but could never figure out how to get the help to do it because I did not know what a such service was called. I vowed when I got the process down I would help others however I could.

I met some people who liked my techniques and the success I was having especially in the marketing and branding space. I tried helping small business owners (solopreneurs) in addition to running my own company (which at that time was non 'small business' related). After 2 yrs I got frustrated because it seemed I was more excited about other people's business potential than they were their own. In trying to encourage them to avoid my mistakes they thought what I was 'preaching' was unapproachable or unrealistic for them. So in fact, they commited the mistakes anyway. Its kinda like doing the opposite of what your parents say! Also I was really pushing the idea of follow your passion and they were like YO- "passion' don't pay the bills. So the hard core love isnt there when you are starting a business based on a trend or what you think will make you money vs doing what you truly love. Bottom line I tried to offer help but people didn't feel that they needed the kind of help I was offering (or help in general). They wanted an idea jogger and then to go on the trial and error route. And they would often question if I have an alterior motivve for wanting to offer free help. But when I tried to charge them they said they couldn't afford to pay. So the relationships were not fully reciprocal. Essentially I feel they got in their own way or I was too pushy and it just got very frustrating to say the least. So I thought my start up consulting days were over...

Until I started getting inquiries from young people (under 18 and in many cases under 16). They didn't have a job aka no money, couldn't enter contrracts, but it seems they had this independence and this creative vibe going on and they understood technology. So they were calling me regularly and asking for my help and advice and I started giving it to them. 60-90 days later my first proteges were generating income and media. Six months later my top producer was doing gross revenues that combined his household income, not to mention he was only 17. So the other kids started to step up their game and take suit. It takes a lot of time, creativity and resourcefulness in working with them but they do everything I say. They don't pay me with money, they pay me with leads of other kids who could use my help and real information/direct feedback on what ideas I give them work or doesn't and why not. That was our agreement from the beginning. They understand that it is more value to us both in the long run. It allows me to refine my program quickly to meet the needs of my target audience. I know there are many ways I could monetize- from revenue sharing to consulting once they reach a certain $$ level, but we are pioneering an industry together and without them there would be no me. I have to help them continue to build their brand and company and prove the masses wrong then my big day$ will follow :)

posted June 11, 2008

Hi Ravi

Having started the India operations of a MNC and now starting up my own practice, I can say the following

Individual startups do not need consultants but some associated people who help achive some short term objectives. Often Enterpreneurs donot understand this and look for a group of advisors/consultants to reassure them of their own ideas.

So what I am trying to do is to be a implementing supporter to people rather than a consultant and definitely would like to be get paid for the same.

Thanks

Jetinder Nath

posted June 14, 2008

We run into startups a lot, despite that fact that our M&A business really requires more mature businesses as clients or acquisition targets. When we do, I try and make a point to spend as much time with them as possibly, and provide as much feedback as I can from the very broad industry experience we have built, specific to the ICT industry. At this early stage, I find that there is a lot of information that can be extremely valuable to these guys, and their ability to assimilate it and use it is really a critical success factor for them.

The common scenario is that we see someone starting up a business, who thinks they have no direct competitors, and we can point them at a variety of alternative products/services from other specialists, or smaller parts of larger companies - which they did not know about. If they listen to this, track down the companies in question, and figure out how to work with or against them and include them in their business planning - then they are worth the time to work with. If they discount, ignore or forget what they have been told, they seldom have a long-term future.

I do this for two reasons - first, I enjoy it, because these tend to be good people with interesting ideas, and second, because the successful ones will be back and will eventually become viable clients (and often friends) for us. The latter is why we've made this company policy, as well.

As for planning, we just manage our time opportunistically. The startups themselves need more solid plans, and need to understand that it is almost never going to work like the plan suggests - but you still need the plan. Go figure.

Cheers,
Paul Hauck

posted June 15, 2008

Hello Ravi,

Yes, we work with startups and our focus is to develop and implement revenue acceleration strategies and practices. Unique is that we close new business for our clients to validate our strategies.

CSG is a 7 years old with offices in the US and Europe. We specialize in launching new market strategies for EMEA companies who want to enter US markets. We also work with many US based companies.

We believe outsourced sales companies are expert in demand fullfilment models but lack the experience required to create demand and back it up by closing new business. Presenting new propositions in markets without presence requires unique skill sets to succeed.

We also believe most consulting companies provide only strategies but do not execute against them.

We understand young companies need a return on their consulting investments in the form of new revenue.

When we exit a project;
- Market strategies developed and validated
- Validated strategies mapped to the sales process
- Sales strategies and processes are developed including sales/buy cycle
- We have acquired new revenue for our clients; Early Adopter, Pilots, reference accounts, etc.

Thus, our value proposition offered is extremely high.

As for our rates, we don't have an hourly rate. Our fees are tied to the project and success milestones. The components are retainer + back end success fees. We're performance based and paid against attainment of objectives.

This model fosters mutual commitment which is key to our success. In addition, we work very close with our clients and literally become an extension of their sales and marketing team.

We also believe "commission only" selling as a model is similar to "commission only" engineering. Not much is going to get done unless someone calls us and ask for your product - and this is doubtful in a market where no demand exists.

Call us for a discussion of our satisfied clients - in 2007 alone we brought over $4M in multi-year contracts to our customers - and successfully launched them to North America markets.

Hope this helps,

Bill Ezell
CEO and Founder
Client Success Group

posted June 17, 2008

Yes, I am. Generally, I am the motivator around.

posted June 8, 2008

ravi, for the past 2 years i have been working with really small brands and entrepreneurs because i am driven to build "indian" brands.

so believe, every time i get the opportunity, i do my best to help. even if it means to discourage sometimes!

posted June 8, 2008

For the start-up in product (physical) space-TePP Network, which I orchestrate is the best bet. The network provides funds, mentoring & incubation suppot

ASRao

Links:

• http://www.dsir.gov.in

posted June 9, 2008

posted June 9, 2008

Good day Ravi,

As I may have shared before, VLAB and/or SD Forum are excellent (US-based) mediums / resources for assisting start-ups.

As for me, a lot of it depends on the opportunity and timing involved.

Regards,

John S. Rajeski

Links:

• http://www.vlab.org/
• http://www.sdforum.org/
• http://rajeski.com/

posted June 9, 2008

Yes. Sometimes. Depends on the idea.

Money, time and ability of entrepreneur to follow through.

posted June 10, 2008