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.

Another Take At Zero-Energy Buildings: Optimum Energy’s Nathan Rothman (Part 1)

Nathan Rothman is the president and CEO of Optimum Energy. He has spent the past 20 years as the president of a privately held company which structured, financed, built, and managed “green field” manufacturing plants for its clients around the world. Prior to that, Nathan founded Valiant Yacht Corporation, which was awarded the “Product of the Decade” by the pleasure boat industry. Nathan is an alumnus of Northwestern University and the Illinois Institute of Technology and is a Certified Business Energy Professional.

SM: Nathan, I would like to start with your personal story. Where are you from and what kind of environment did you grow up in?

NR: I was born and raised in the Bronx. I am a Yankees fan and am happy that they won the World Series. I went to school in Chicago at Northwestern University and the Illinois Institute of Technology. I grew up in a lower middle class family and was always entrepreneurial, even when I was a little kid. >>>

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Building A National Health Information Network: NaviNet’s Brad Waugh and Tom Morrison (Part 1)

NaviNet, founded by Tom Morrison and with Brad Waugh as president and CEO, is America’s largest healthcare communications network. Tom has been involved in healthcare IT for 25 years and was a co-founder of Firepond Partners. Brad was previously CEO of $2.6 billion financial services firm Wincor Nixdorf as well as an entrepreneur who founded Watch Hill Partners.

SM: To start off, please give me the genesis of your personal stories. Where do you come from, and what in your background has led you to this path?

TM: I come from a small town in Minnesota. I worked my way through college as a pilot and was an aeronautical engineer. My academic background has nothing to do with what I am doing today. After I graduated in engineering I went on to law school. >>>

Helping You Book Vacation Rentals: FlipKey CEO T. J. Mahoney (Part 1)

T.J. Mahoney is the founder and CEO of FlipKey, a leading vacation rental service with verified vacation guest reviews. Prior to founding Flipkey he worked at Compete.com, Zefer, and Accenture. He is a graduate of Macalester College.

SM: Can you take us back to the beginning of your story? Where do you come from?

TM: I was raised in Boulder, Colorado. I was recruited to play basketball at a small school in Minnesota called Macalester College. Once I graduated, I got into the world of the Web by working as a consultant at Accenture. >>>

How A Warren Buffett Protégé Built Overstock.com: CEO Patrick Byrne (Part 1)

Dr. Patrick M. Byrne is chairman and CEO of Overstock.com, Inc., a Utah-based Internet retailer that has been publicly traded since 2002. Under Byrne’s leadership, the company’s revenue soared from $1.8 million in 1999 to $760.2 million in 2007. Before founding Overstock.com, Byrne served as chairman, president, and CEO of Centricut, LLC, and held the same three positions at Fechheimer Brothers, Inc., a Berkshire Hathaway company. He holds a bachelor’s degree from Dartmouth College in philosophy and Asian studies, a master’s degree in philosophy from Cambridge University as a Marshall scholar, and a doctorate in philosophy from Stanford University.

SM: Patrick, first tell me about you. What is your background? Where does your story begin?

PB: I was born in Indiana. We moved to Massachusetts when I was two, so I grew up in New England. I went to Dartmouth, Cambridge, and Stanford. My career has been split between academia and business. Early on I was one of those guys who did some small business ventures while I pursued a full-time career as an academic. >>>

Helping Failing High School Students Pass: Revolution Prep Founders Ramit Varma and Jake Neuberg (Part 1)

Revolution Prep was founded 2002 by Ramit Varma and Jake Neuberg, who met at UCLA’s Anderson School of Management. Founded in 2002, Revolution has become the largest provider of SAT prep courses and tutoring in California and one of the largest providers nationwide, with students in 12 states. Building on the success of its SAT program, Revolution’s products and services now address a wide range of academic areas, including ACT, GRE, high-stakes No Child Left Behind testing, and online education.

SM: Ramit, to start, tell me about who you and Jake are as entrepreneurs. Where do your stories begin?

RV: I am from Maryland and I went to the University of Maryland, where I studied electrical engineering. While I was in college I started teaching for the Princeton Review, and I discovered that I really loved teaching. >>>

Improving Healthcare Communication: Kryptiq CEO Luis Machuca (Part 1)

Luis Machuca is the president and CEO of Kryptiq Corporation, a healthcare connectivity company that facilitates an open collaborative network for healthcare. Prior to his time at Kryptiq, Machuca held several leadership positions in the tech industry. He joined Intel in 1981 and spent 15 years there, in a variety of management roles. In 1996, he became the EVP of the NEC Computer Services Division of PB-NEC Corp. In 1999, he joined eFusion Corp. as president and COO and subsequently merged the company with ITXC. He received his BS in electrical engineering in 1980 and his MS in industrial engineering in 1981 from Purdue University.

SM: Luis, to get started please tell us about your background. Where do you come from?

LM: I was born in Puerto Rico and lived there through high school. I then went to Purdue University. Since Puerto Rico is part of the United States, it was an easy transition logistically, but it was more difficult to do culturally. >>>

Helping At-Risk High School Students with Online Solutions: Apex Learning CEO Cheryl Vedoe (Part 1)

Cheryl Vedeo is the CEO of Apex Learning. Her background as a software engineer, marketer, and senior manager gave her a solid technical foundation. It was at Apple, as the head of the K-12 education division, that she was introduced to education in the technology space. Cheryl holds a BA in Mathematics from Wheaton College, in Norton, Massachusetts, and an MBA from Northeastern University, in Boston, Massachusetts. She serves as a trustee of Wheaton College and is on the board of directors of the Washington Technology Alliance.

SM: Cheryl, to get started, could you tell me about yourself? Where are you from and what kind of upbringing contributed to where you are today?

CV: I grew up in the Northeast, in Massachusetts specifically. I was a math major in college. I went to Wheaton College. >>>

A Scalable K-12 Education Solution: K12 CEO Ron Packard (Part 1)

Ron Packard was previously a vice president of Knowledge Universe investing, incubating, and operating several charter school companies. Previously, Ron worked for both McKinsey & Company and Goldman Sachs. He holds a B.A. in economics and mechanical engineering (with honors) from the University of California at Berkeley. He holds an M.B.A. (with honors) from the University of Chicago, and he is a chartered financial analyst. Mr. Packard currently serves on the Department of Defense Educational Advisory Committee.

SM: Let’s start with your story. Where are you from?

RP: I grew up in Thousand Oaks, California, which is your typical suburb of Los Angeles. My father was an radar and weapon systems engineer for Hughes Aircraft. >>>

Leading Corporate Innovation: HP Labs Director Prith Banerjee (Part 1)

Prith Banerjee is senior vice president of research at HP and director of HP Labs. Prior to joining HP he served as the dean of the College of Engineering at the University of Illinois. He was the founder, chairman, and chief scientist of BINACHIP Inc. In 2000 he founded AccelChip Inc, which was sold to Xilinx in 2006. Prith is a fellow of the American Association for the Advancement of Science, the Association for Computing Machinery, and the Institute of Electrical and Electronics Engineers.

SM: Let’s start by reviewing your background. Could you set some context for your switch from academia to HP?

PB: I started my career in academia. After getting my PhD from the University of Illinois, I stayed at the university as a professor. I served in academia for 22 years, first at the University of Illinois and later at Northwestern. >>>

Window Into Web 3.0: Blinds.com CEO Jay Steinfeld (Part 1)

Jay is the CEO of Blinds.com, a company he founded in 1996. It has since achieved revenues surpassing $50 million and is ranked #192 of all US e-commerce companies. It is also the world’s top retailer for blinds, shades, and other window coverings.

SM: Tell me first about your personal background leading up to this venture.

JS: I was born in New Jersey and moved to Dallas when I was 11. In high school I had several businesses, but the main business was custom t-shirts. I always knew I was going to be in business for myself. >>>