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.

Bootstrapping A 130 Million VAR In The Midwest: Ahead CEO Dan Adamany (Part 1)

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

Dan Adamany is the founder and CEO of Ahead, a leader in cloud computing. Prior to Ahead, Daniel played a pivotal role in EMC’s rise to prominence, winning several national awards for leadership and performance. Daniel is also involved in several entrepreneurial ventures within various industries, including real estate, hospitality, and entertainment. He has a degree in mechanical engineering from the University of Wisconsin–Madison.

Sramana: Dan, let’s begin by tracing the steps of your journey. Where were you grow up?

Dan Adamany: I grew up in Green Bay, Wisconsin. We were on the east side of Green Bay, so I had mid-sized schools to attend. My mother was a dietitian and my father owned a restaurant. >>>

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Bootstrapping A Healthcare IT Startup To 50 Million: Eliza Corporation President Alexandra Drane (Part 1)

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

Alexandra Drane is a serial entrepreneur who has launched four successful healthcare ventures over the past 15 years. Alexandra is currently president and co-founder of Eliza Corporation, a leading provider of integrated healthcare communication strategies. She is also the co-founder of two nonprofits, Engage with Grace, aimed at helping people understand, communicate, and have end-of-life wishes honored; and SeduceHealth, which adds greater passion, joy, and inspiration to how the healthcare industry communicates. Alexandra sits on a number of executive boards, including Eliza, Beth Israel Deaconess Medical Center, Society for Women’s Health Research, Operations Committee of the Coalition to Transform Advanced Care (C-TAC) and Germaine Lawrence Board of Advocates. She also serves on the board of two technology startups and is a member of the Health Executive Leadership Network, Women Business Leaders of the U.S. Health Care Industry Foundation, and is a trustee of several charitable trusts.

Sramana: Alex, where are you from? What is your background?

Alexandra Drane: I am a product of the 128 Beltway. That is the best way to describe it. I was raised in Lexington, which is a suburb of Boston. I was raised by two entrepreneurs, but they were two very different types of entrepreneurs. >>>

Bootstrapping An Innovative Telecom Services Startup: Callture Co-founders Mamoon Rashid and Siva Sanmuga (Part 1)

Mamoon Rashid and Siva Sanmuga are serial entrepreneurs who co-founded Telcan in 1997 followed by Callture in 2004. Both graduated from the University of Waterloo, Ontario, after completing their engineering studies. Callture is a Canadian technology company based in Ontario and is a subsidiary of Telcan.

Sramana: Mamoon, can you give us some context to begin your story?

Mamoon Rashid: About 13 years ago, Siva Sanmuga, Anton Mendoza and I were in our final year of engineering studies at the University of Waterloo. We had an idea about how to deliver international callback services. >>>

How Not To Finance Your Company: TalkPoint CEO Nick Balletta (Part 1)

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

Nick is CEO of TalkPoint and a pioneer in the fields of unified communications and interactive webcasting. Nick launched his first company, Voyager Data Networks, in 1996 and sold it two years later. Prior he was the founder of NextVenue, a joint venture among Microsoft, NBC, and Dow Jones. He led its global expansion and merger into streaming media company iBeam Broadcasting. At iBeam, he served as president of enterprise services and was a member of the board before buying back the company, now known as TalkPoint, in 2003. Nick holds an MBA from Rutgers Graduate School of Management.

Sramana: Nick, tell us about your beginnings. Where are you from?

Nick Balletta: I grew up in northern New Jersey and I went to school at Rutgers for both my undergraduate and my MBA. My first job out of school was a sales job in the late 1980s for MCI Communications. Instead of going into Wall Street like most of my classmates, I decided to jump into technology. It was a really good experience starting out in frontline sales. If you look at Fortune 500 companies the vast majority of CEOs today spent time in sales organizations. It is important to know how to drive top-line revenue and understand customer requirements. >>>

Child Entrepreneur David Koretz, Now CEO Of Mykonos Software (Part 1)

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

Sramana Mitra:  David, let’s start at the beginning of your story. What is the genesis of your entrepreneurial roots?

David Koretz: I grew up in Rochester, New York. Like a lot of entrepreneurs, my journey started earlier, more informally than it did formally. My parents owned a small insurance and commercial collection agency. They worked together all day, so when they came home they would still talk business, especially around the table. I was either not going to pay attention at the dinner table or I had to learn how to understand business. >>>

Bootstrapping To 20 Million: Replicon Co-Founders Raj And Lakshmi Narayanaswamy (Part 1)

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

Raj Narayanaswamy is the co-founder and CEO of Replicon. He has over 15 years of software development and senior management experience. Narayanaswamy has a bachelor’s degree in computer science degree from the Indian Institute of Technology, Chennai, and is an active member of the high-tech business community. Lakshmi Narayanaswamy is the co-founder and co-CEO of Replicon with a focus on strategic initiatives for global operations. Prior to starting Replicon, she worked as a software engineer for Verity (formerly known as FTP Canada). She holds degrees in computer science and electrical engineering.

Sramana: To begin, would you please provide a bit of history and personal background related to your career path to becoming entrepreneurs?

Lakshmi Narayanaswamy: I am from a small town in India. I did my undergraduate studies in electrical engineering in Chennai. After that I went to the University of Calgary in Canada where I earned a computer science degree. After graduation I began working for FTP Canada, which eventually became Verity, although I am not sure that the company exists anymore. >>>

Do You Want To Have Dinner With The Guy You Want To Hire? Christos Cotsakos, Founder Of ETrade And CEO Of EndPlay (Part 1)

Christos Cotsakos is the founding chairman, CEO and president of EndPlay, a Software as a service provider of web content management solutions to enterprise clients in media, entertainment, and education. After enlisting in the Army in and serving a tour through Vietnam, he began his career as a package handler at Federal Experss. In 1988 he became the VP of European operations and served in that role until 1992 when he left to begin work at ACNielsen. In 1995 he was promoted to co-CEO and served in that role until leaving in 1996 to become the CEO of E*TRADE. His full bio is available at https://www.wpunj.edu/ccob/about-us/cotsakos.dot

Sramana: Christos, let’s discuss your background first. Where do you come from? What led you down your career path and toward entrepreneurship?

Christos Cotsakos: I come from Paterson, New Jersey. My parents moved there from Greece. It is a town that is famous for the silkworm factories and the manufacturer of the Colt 45. >>>

Celebrating MIT’s 150th Anniversary: Alumni Ian Clemens, Founder Of IDV Solutions (Part 1)

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

Ian Clemens is the co-founder and chief technology officer for IDV Solutions. Ian is an expert in interactive data visualization, location intelligence and business intelligence software, and has authored a number of articles on the topic in publications including DM Review and Directions Magazine.
Prior to joining IDV, he was director of technology solutions for Universal Map, a map publisher and distributor, and senior consultant for BBK Ltd./Anderson Economic Group, a consulting firm specializing in economics, finance, and public policy. Clemens holds a bachelor’s degree in applied mathematics from the Massachusetts Institute of Technology and a master’s degree in Christian studies from Regent College, Vancouver, British Columbia.

Sramana: Ian, let’s go back to the beginning of your story. Where did you grow up and what was the path that you took to becoming an entrepreneur?

Ian Clemens: I was born and raised in southeastern Pennsylvania. I went to MIT in 1991, where I was exposed to a very creative environment and a can-do atmosphere that was infectious. I majored in applied mathematics. >>>

Building A Billion-Dollar Solar Company: Canadian Solar CEO Shawn Qu (Part 1)

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

Dr. Shawn (Xiaohua) Qu is the founder, chairman, president and CEO of Canadian Solar. Prior to founding Canadian Solar in 2001, he worked at Matrix and Photowatt International as a research scientist, and director of silicon procurement, director of solar products, strategic planning and business development, and technical vice president (Asia Pacific) of Photowatt International S.A. Prior to Photowatt, he was a research scientist at Ontario Power Generation Corp. (formerly Ontario Hydro), where he worked in the development of Sphere Solar technology. Physical Review. Dr. Qu received a Ph.D. in material science from the University of Toronto in 1995, a M.Sc. in physics from the University of Manitoba in 1990 and a B.Sc. in applied physics from Singh University (Beijing, China) in 1986.

Sramana: Shawn, tell me some of your personal story. What were the factors in your background that led you to take the path that led you to where you are today?

Shawn Qu: I was born in China near Beijing. Both of my parents are university professors and taught mathematics. I grew up in Beijing. >>>

Surviving The Dotcom Crash And Building A Sustainable Business: LivePerson CEO Rob LoCascio (Part 1)

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

Rob LoCascio is the founder and CEO of LivePerson, a leader in Intelligent Engagement Solutions that help thousands of top brands and websites around the world monitor and connect to their consumers online. Rob is a serial entrepreneur and sold his first company, IKON, in 1995, before founding LivePerson in 1998. He is also the founder of the LivePerson Cares Project, which includes a project that feeds 8,000 families in New York, earning him the title of “Person of the Day” by The Huffington Post in 2010. Robert holds a B.A. in business administration from Loyola College.

Sramana: Rob, tell me a bit about your background. What is the beginning of your personal story?

Rob LoCascio: I grew up in Long Island. My grandfather and father were entrepreneurs, and my entire family was entrepreneurial. I went to college at Loyola University and graduated in 1990. >>>