The Startup Velocity Question: What Hinders Acceleration in VC Funded Companies?

I have been running 1Mby1M since 2010. I find myself saying to entrepreneurs ad nauseam that VCs want to invest in startups that can go from zero to $100 million in revenue in 5 to 7 years.

Startups that do not have what it takes to achieve velocity should not be venture funded.

Experienced VCs, over time, have developed heuristics to gauge what constitutes a high growth venture investment thesis. 

1Mby1M Udemy Courses with Sramana Mitra: Bootstrapping

Over the course of two years, we have released over 70 courses on Udemy with the aim to democratize entrepreneurship education at scale globally. This series of posts aims to help you find the one you need easily and provide you with discount coupons.

Niche E-Commerce in Textbooks: ClassBook CEO Tony Pfister (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Tony Pfister is the CEO of ClassBook.com, which provides schools and universities with an online bookstore presence with special emphasis on independent primary and secondary schools. Prior to becoming the CEO of ClassBook, Tony was an auditor for PricewaterhouseCoopers. He has an MBA from the State University of New York at Albany and double major in accounting and economics from Le Moyne College.

Sramana: Tony, let’s start with your background story. Where did you grow up?

Tony Pfister: I am from Albany, which is in upstate New York. I went to Le Moyne College and graduated with a double major in economics and accounting. >>>

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Building a Cross-Border e-Commerce Success Selling to Russia: Bay.Ru CEO Aaron Block (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Aaron Block is the CEO of Bay.ru, the first cross-border e-commerce business in Russia and the fastest growing shopping site in Russia. Bay.ru’s growth has been powered by affiliate partnerships with eBay and Amazon which provides Bay.ru an integrated product catalog in a wide range of categories. Prior to Bay.ru he worked in management positions at the commercial real estate firm Cushman and Wakefield. He graduated from the University of Illinois after studying urban and regional planning.

Sramana: Aaron, let’s start with your personal story. Where are you from? What kind of background leads up to the Bay.ru story?

Aaron Block: I was born and raised in Chicago. I studied urban and regional planning at the University of Illinois. I started my career in commercial real estate with Cushman and Wakefield, the third largest global real estate firm in the world. >>>

Gaps in Analytics: Jon Kondo, CEO of Host Analytics (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Jon Kondo is the CEO of Host Analytics, a provider of cloud-based analytics and business intelligence tools. Prior to serving as the CEO at Host Analytics, Jon was North American Group Vice President at Oracle where he was responsible for 200+ people and all EPM revenue. Prior to Oracle, he had full P&L responsibility for the Americas Field Organization at Hyperion. Jon managed Hyperion’s push into the analytics space as the global head of BI. He began his career as a sales intern with IBM,  holds an MBA from Thunderbird School of Global Management and a BA in Economics from UC Santa Barbara

Sramana: Jon, let’s go back to the beginning of your personal story. Tell me where you are from, where you grew up, and your story leading up to Host Analytics.

Jon Kondo: I was born in New York and grew up in Connecticut. My dad moved our family out to Southern California in the early 1970s. He was an aerospace engineer and moved for a job opportunity. >>>

Bootstrapping E-Commerce to 16 Million: Valerie Holstein, CEO of Cableorganizer.com (Part 1)

Valerie Holstein is co-founder, president and CEO of CableOrganizer.com, now among the world’s leading purveyors of cable and wire management-related products. Prior to co-founding CableOrganizer.com in 2002,  Holstein served as assistant drafting engineer at Buchanan Screens, a major fabricator of screen enclosures in South Florida. Prior to this, from 2000 to 2001, Holstein served as an office manager for Transeastern Properties, a large home-building company in Florida.

Sramana: Valerie, let’s start with your background. Where were you born, and where did you grow up? What was the path you took to arrive here today?

Valerie Holstein: I was born in Paris, France. I studied there until it was time to go to college. I decided to attend college in the United States because I wanted to improve my English, and I wanted to take a break from the French academic format. >>>

Navigating the Microsoft Ecosystem to Build a 12 Million Dollar Company: Brian Knight, CEO of Pragmatic Works (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Brian Knight, SQL Server MVP, MCSE, MCDBA, is the co-founder of SQLServerCentral.com, JumpstartTV.com, and is on the principal board of directors of the Professional Association for SQL Server (PASS). Brian is a contributing columnist for many industry magazines and sites. He has written or cowritten more than nine SQL server books. Brian has spoken at conferences like PASS, SQL Connections and TechEd and many Code Camps.

Sramana: Brian, let’s start at the beginning of your story. Where do you come from? What is your background leading up to the Pragmatic Works story?

Brian Knight: I was born and raised in Jacksonville, Florida. I started programming when I was seven years old. I was a teenager in the 1990s, so when I was graduating high school I was right on the cusp of the dot-com boom. If you could say the word ‘computer’ you could get a job very fast. >>>

Rolling Up Bill Management: Flint Lane, CEO of BillTrust (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Flint Lane is a serial entrepreneur and the founder and CEO of Billtrust, a company offering B2C and B2B billing services. Billtrust has earned numerous awards from business organizations, including the Deloitte Technology Fast 500 and Inc. 500. Prior to founding Billtrust, he was the founder of Paytrust, an electronic bill presentation and payment (EBPP) company. He has also held executive positions at Platinum Technology, Logic Works, and Brownstone Solutions. Mr. Lane received his bachelor of science in computer science from Rensselaer Polytechnic Institute.

Sramana: Flint, let’s go back to where your story begins. Where are you from, and where did you grow up?

Flint Lane: I grew up in New York and was a bit of a computer nerd growing up. >>>

Freemium, Conversion Rates and More: AVG CEO J.R. Smith (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

J.R. Smith is the CEO of AVG, which offers antivirus solutions through a freemium model. Prior to joining AVG, Smith served as chief executive officer of United Kingdom-based Dot Mobile Limited, a mobile virtual network operator he cofounded in 2005 and that partnered with Vodafone Group Plc to provide mobile services to students in the United Kingdom. His first European venture was TelecomSolutions Group, Inc., a pan-European network deployment and telecommunications software development company he founded in 1997. Clients included Vodafone, Nextel, T-Mobile, Telefonica, Nokia, and Ericsson. Smith began his career with PNC, which evolved to become the publicly listed VoiceStream Wireless Corporation, later acquired by T-Mobile USA, Inc.

Sramana: J.R., let’s go back to the beginning of your personal story. Where do you come from? What were the precursors to your entrepreneurial story?

J.R. Smith: I was born in Olympia, Washington. I grew up in a normal family in the countryside. While I was in college, I became a DJ. I studied hotel and restaurant administration at Washington State University. >>>

Building the World’s First Mobile Rewards Network: Brian Wong, 20-Year-Old Founder of Kiip (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Brian Wong is the founder of Kiip.me, a mobile rewards program. Prior to founding Kiip, he worked at Digg in business development. His five months there ended when he was laid off because of cost-cutting measures, an event that motivated him to start his own company. Prior to working at Digg, he gained recognition by developing social apps for Twitter. He graduated from the University of British Columbia with a degree in business at the age of 18.

Sramana: Brian, let’s start by reviewing some of your background. Where are you from and where did you grow up?

Brian Wong: I was born in Vancouver, Canada. My parents came over from Hong Kong in the 1980s and I was born in 1991. I lived there and went to school there until I was 18, at which time I moved to San Francisco. >>>

From New Zealand To Silicon Valley: Victoria Ransom’s Wildfire Journey (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Victoria has been an entrepreneur since her early twenties and has developed three companies. As founder and CEO of Wildfire (www.wildfireapp.com), Victoria led the company to profitability in just one year and has built the company to tens of thousands of customers, over 250 employees, and eight offices worldwide. Clients include major brands and agencies such as Facebook, Pepsi, Unilever, Sony, AT&T, Ogilvy, Publicis, and Digitas. Wildfire is a two-time winner of the fbFund; investors include Summit, Facebook, Accel Partners, and the Founder’s Fund. Victoria has been featured in several publications including The New York Times, CNN, and The Wall Street Journal. She was named one of the ’25 Women to Watch in Tech’ for 2011 and 2010 and was named the Ernst & Young Entrepreneur of the Year for New Zealand. Victoria has spoken at numerous events, including Le Web, SXSW, OMMA, AlwaysOn, Ad:tech, and Web 2.0.

Sramana: Victoria, let’s start at the very beginning of your story. Where do you come from?

Victoria Ransom: I grew up on a farm in New Zealand in the middle of nowhere. There were 25 students in my primary school. It was a wonderful upbringing, and it was very beautiful. It was a very supportive environment and a small environment. I felt I could do anything. >>>

Doing $5 Million A Year With Three Employees: FineArtAmerica CEO Sean Broihier (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Sean Broihier is the CEO and founder of FineArtAmerica.com. After graduating from the University of Illinois with a degree in mechanical engineering, he worked at an engineering firm for 10 years. He started his first business, LocalAutomation.com, as an online marketplace for engineers in 2005. In 2007 he launched FineArtAmerica as an online marketplace for artist and photographers.

Sramana: Sean, let’s start at the beginning of your story. Where are you from? What is your background?

Sean Broihier: I am from a small town just outside Chicago. I was born and raised in the same house my entire life. My parents, two older brothers, and a younger sister lived there with me. My brothers are seven and eight years older than me. >>>