MODERATOR: Will Corrente, Founder of Operation Entrepreneur
Stephen Messer, Co-Founder of Linkshare
Sam Lessin, Founder of drop.io
Benjamin Sun, Founder of Community Connect, Inc.
Andy Dunn, Co-Founder & CEO of Bononos.com
Tad Martin, Founder of CrossCommerceMedia & Former COO of Overstock.com
Tad Martin, Founder of CrossCommerceMedia & Former COO of Overstock.com
Q: A lot of entrepreneurs have ideas, how do you get it going?
AD: It is not risky to start a company in America. Succeed or fail, it's risky not to do it. There are realities (mortgages, children) that can prevent you from doing it.
Q: How long to bootstrap / when to stop bootstrapping?
BS: You should bootstrap as long as you can until your product is in the right position. Figure out the business model.
AD: Bootstrap as long as you should. Recommended, "The millionaire next door" -- speaks of all the same people with similar attributes that didn't make it.
SL: Capital, talent, biz model are all pieces. Obviously if you can bootstrap further down the line, your Cost of Capital is lower.
Q: Can you talk about the stages of bootstrapping before VC dollars?
SM: First question: Is the market available? If not available, then bootstrap and you'll come up with a business model to make money. If there's no one else out there to compete with you, you'll be fine.
AD: It all depends. You think the wise choice is the background you come from.
Q: Maintaining an entrepreneurial environment is difficult -- how do you keep it going through different stages?
TM: The people that you involve in the business are just, if not more, important than the business itself.
Q: You had 4 co-founders, how do you manage growth when there is more than one founder? how do you create early stage dialogue to have similar philosophy?
AD: Co-founder left the company this week. He created the brand. The reality is that founders are gone quickly. "Building a company is like building a cathedral -- those around at the onset won't see it to completion"
AD: It is not risky to start a company in America. Succeed or fail, it's risky not to do it. There are realities (mortgages, children) that can prevent you from doing it.
Q: How long to bootstrap / when to stop bootstrapping?
BS: You should bootstrap as long as you can until your product is in the right position. Figure out the business model.
AD: Bootstrap as long as you should. Recommended, "The millionaire next door" -- speaks of all the same people with similar attributes that didn't make it.
SL: Capital, talent, biz model are all pieces. Obviously if you can bootstrap further down the line, your Cost of Capital is lower.
Q: Can you talk about the stages of bootstrapping before VC dollars?
SM: First question: Is the market available? If not available, then bootstrap and you'll come up with a business model to make money. If there's no one else out there to compete with you, you'll be fine.
AD: It all depends. You think the wise choice is the background you come from.
Q: Maintaining an entrepreneurial environment is difficult -- how do you keep it going through different stages?
TM: The people that you involve in the business are just, if not more, important than the business itself.
Q: You had 4 co-founders, how do you manage growth when there is more than one founder? how do you create early stage dialogue to have similar philosophy?
AD: Co-founder left the company this week. He created the brand. The reality is that founders are gone quickly. "Building a company is like building a cathedral -- those around at the onset won't see it to completion"
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