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Many people who start businesses, including me, have little or no experience and just jump in. Over the years, I have compared notes with many fellow entrepreneurs, and I have seen them make the same mistakes over and over again — I recognize them because I have made them all, too.
As the global economy writhes and rattles, entrepreneurship has ever more clearly emerged as the solution to economic recovery. Young startups not only create nearly two thirds of America’s new jobs, they also bring forth innovation that often revolutionizes humanity and provides widespread prosperity.
This post was written for Technori by Len Feldman . Facebook, YouTube, Twitter, Yelp, Tesla Motors, LinkedIn, Zygna: Not all of them are household names, but they’re all highly-successful companies. They also have one thing in common: All of these companies were funded by angel investors who originally worked at a single Silicon Valley company, PayPal. When PayPal was sold to eBay in 2002 for $1.5 billion, the company’s founders, and some of its early employees, decided to make seed investments in other startups, along with providing advice, counsel and connections. Some of those investments have already paid off in a very big way; for example, Peter Thiel’s $500,000 angel investment in Facebook is currently valued at around $1.7 billion.
Part 1 of “Angels in Chicago” examined the importance of angel investment on startup development and introduced four active Chicago angels. Part 2 investigates the level of competition for investment deals in Chicago, problems that angels see in business plans and proposals, incubators as an alternative to angels, and offers some sage words of advice for entrepreneurs from the angels. Competition for Deals Recently, Fred Wilson, a well-known venture capitalist and principal of Union Square Ventures in New York, wrote, “…there are a few storm clouds out there that we need to be watching.
**Special thanks to Griffin Caprio , Pek Pongpaet , Ray Hightower , Dave Hoover , and Raymond Reinhart for their contributions.**
Ask any entrepreneur to name their single biggest challenge, and most will reply, almost instinctively, with the same answer: Hiring . Hiring new employees for your business can be an overwhelming and frustrating journey. In addition to being incredibly time-intensive, the process of selecting the right person for the job can be downright daunting. Add in the massive costs associated with making the wrong choice (think wasted salary and benefits, culture issues, and lost business opportunities, just for starters), and it’s no wonder that most entrepreneurs approach hiring with a mixture of fear and apprehension. So, why are some early-stage companies successful with hiring, while others fail?
The 5 Minute Guide To Cheap Startup Advertising The following is a guest post by Rob Walling.