DISQUS

@Mark: I think there are very few people who like raising money. Those that have done it a couple of times might feel empowered in the process (knowing what they know, and who they know), but I'm sure the people who actually enjoy it is very few.

There are certainly aspects of it that I enjoy, and the learning process was an exceptional one ... and if I was starting something new now (or in the future) I would probably enjoy it more having gone through many of the growing / learning pains previously.

Still, you're a rare breed :)

@Geneva: What kind of information are you looking for? My email address is available on this site if you want to reach out.

@bhicks: Investors typically lose. Of course it depends on the deal structure; there may be some residual value that investors get through the IP, asset ownership, etc. but that's still a failure.

@Andy: I had a big head already ... hats rarely fit well. *smile*

@Julie: I didn't do anything specific to get quoted in the NYT, I didn't even know it happened until someone pointed it out, so the reporter didn't reach out to me first. My guess is that he was searching online for some specific things, and some of my blog posts popped up. The post was from 2007, which goes to show you that your old content can still prove relevant and valuable in the long term.

@jeflin: No time for a novel at this point ... who knows in the future!

@Jeff: I think the situation in Montreal has certainly improved, but it's still very early. Rome wasn't built in a day. Neither was Silicon Valley for that matter.

The positives are that we have more startups launching, and many of those are launching with considerable fanfare / buzz (which is good for the overall community.) We've seen an increase in events and participation - be it StartupCamps, DemoCamps, etc. And I'd say overall, there's more activity.

But, there's still a long way to go. We still need more capital from angels and VCs. We still need a more tight knit community that doesn't require specific events to allow for people to get together, brainstorm, mash up ideas and make things happen.

So there's definitely progress, and my gut tells me we'll see a lot more in the next year.

Thanks for stopping by and commenting.

@Kris: I'm with you. Making money through customer service ... turning what most people think of as a Cost Center into a Profit Center. If you can get there, you're definitely onto something.

@Aaron: I don't think experience is a bad thing, as long as you're not stuck in your ways. There's a balance there, and it will depend on the individual. I've learned a ton in the last year, experience I gained from starting Standout Jobs. There may be some bad habits in there too, but I'm way better off for the experience.

@KG Lew: I don't think you can really succeed without passion and motivation. Maybe once in awhile, by accident ... but those are certainly key ingredients. The flip side though -- too much passion can blind people to the failings of their ideas, decisions and businesses.

@ReggaeArtists: This is a custom theme that I designed along with the help of some very talented people.

@TruckerID: Revenue is certainly critical - but revenue still matters. If I make $10 and have $1 in cost, that's $9 in profit. Great percentage, but unless that scales ... I don't have a good business.

@val: Thanks for the in-depth comment ... much appreciated.

@Jen: Do you have any sense of what others might be charging in your area? The non-profit factor may play a role, you may choose to give a discount for that, and since this is your first official gig, you might give a discount there as well -- but don't over-discount!

@David: I agree 100% with you when it comes to practice. It's something I've mentioned a few times in previous posts. And don't just practice alone, in front of a mirror -- get in front of people ... the more you do it, the better you'll get, to the point where you could do the presentation on-the-spot at any given moment.

@Hunter Jackson: Good question. Chris and I are swamped with so much it became difficult to have a consistent show running. We'll see if that changes in the future - and stay tuned on this blog for details / updates.

@Mike: Thanks for the comment - hope you stick around...

@Barbara: Thanks for the comment. To each their own of course - if everyone was the same, and had the same experiences, life would sure be boring, eh? I'm glad things are working out for you in the freelance world!

@Ron: Why are you working on a comprehensive marketing plan? Having a marketing strategy is good, but I would suggest that you don't get STUCK by it -- keep moving forward. I can almost guarantee you that any plan you put in place today - be it financial, marketing, development, etc. - will change significantly once you launch your business.

Thank you for all the comments. Seems I've struck a nerve with this post - and I'm far from the only one getting very little sleep at night!

@Matthew: What sorts of copyright issues related to funding are you looking for?

@Basil: Thanks for stopping by and commenting. I read your blog regularly (glad to see some recent updates on it!)

Of course entrepreneurs may take advantage through over-valuation from friends & family (without even realizing too) only to get into trouble when they have to raise money the next time. So, as you point out in one of your recent articles, be careful, cause VCs or angel investors coming in next time will de-value the company.

I'm less opposed to the Convertible Debenture structure - everything has pros and cons. I actually think there are some interesting opportunities where you do a Convertible Debenture + Common Shares upfront for the initial investors in the game, which provides a sort of hybrid model. Pricing very early stage companies can be difficult if you're not doing it regularly...

@Andrew Biss: That's a good example of just how important sales & marketing are to software companies. Small ISVs can live for years off maintenance revenues or yearly renewals (for SaaS companies)...but if you're trying to really grow and scale a business you'll have to knock on customers' doors and move faster.

Thanks for all the comments!

@Kim Bolte: I'm not sure what the future of social networking holds...it will continue to grow and become more ubiquitous. More people will get involved online and look for ways to connect.

Things do change quickly on the Internet, but this post still rings true for me. What's challenging is separating the value from the fluff - it's easy to get lost online and spend hours doing nothing of real value.

@cindy: Honestly, your brother should get a lawyer.

@Brian Hogg: Most of your money IS spent on wages and other operational things, not on assets. Any assets you buy depreciate in value over time and are of little use to the business's value. So I wouldn't worry about that. What you need to focus on is where you'll spend money to EARN money.

@John Gillett: PR is key. I've written about that before and how startups can generate PR. It's some of the least expensive attention you can get, and do it properly, over time, and you can generate strong results from it.

@Greg Rollett: I agree. But just remember, super spectacular Powerpoint slides DO make a difference. If you go with boring, overstuffed slides with tons of text and too few visual cues, I don't care HOW great the business is, the investors will turn off their brains.

@Rob: I agree - meeting the needs of customers is important. Of course, oftentimes customers don't even know what they want, or they want one thing (for part of the time) only to change their minds later on. My approach in this post was a bit defensive, but all of the above things can also help you gain repeat business. And remember, repeat business is only good if you make money from it. If you're constantly doing exactly what the customer wants - which leads to budget overruns, unmanageable projects and other unpleasant results (which are common in the freelance world) it doesn't matter how much work you do for the client; you're still in trouble.

Thanks for all the comments!

@Zac: Blogging is a great start. Networking in-person is probably the best thing you can do. It builds confidence and ensures that you don't get stuck behind a computer permanently focusing on the big world. Sometimes focusing on the "small, local" world is key.

@Tony: I don't think I was saying that you should focus on one aspect of your business more than another. If anything, I'm espousing that tech-centric companies - companies founded by guys that are neck-deep in code - need to recognize the importance of sales & marketing in order to succeed.

And I'll stick by my statement, because a company focused solely on technology generally won't build up a critical mass of customers in order to succeed.

We certainly can look outside our industry and should, but I'm also targeting a specific audience with my content. I would never suggest that what I write is appropriate for a manufacturing startup, for example. And the fact is, many startups in "our world" are tech-heavy. It's all about "building a better mousetrap" instead of figuring out whether people really want a better mousetrap, and then how to sell and market it.