You have secured funding for the business and now hiring a CEO, COO or CFO means it’s time to grow up fast for a tech startup. Rosemary Forsyth explains how to avoid a costly mistake!
“The founders have done a great job getting to the stage where an experienced investor will invest their time and firm’s money in the company. Now the founding team needs to be strengthened with one or more executives so that the company can scale to the next level.
As part of my job I get to see a lot of startups pitch their businesses. So what makes the best ones truly stand out? In my experience the most effective pitches share a few traits in common. I’m going to share eleven of them with you here (ten is no fun, eleven is one louder anyway). Crafting a pitch with these ideas in mind will hopefully give you a leg up when you are trying to get potential investors’ attention.
Last week the Financial Times ran a piece ‘Tech groups campaign for San Francisco tax reform’.
‘If passed in November the measure would relieve companies from paying corporate taxes based on the number of employees they have and instead levy taxes on gross sales’.
We caught up with several leading Silicon Roundabout entrepreneurs and asked them, ‘If you could launch a campaign tomorrow to help fast growing Tech companies in the UK, what would be top of the list?’
Chris Morton’s decision to colonise the fashion world as an innovator, whilst timely, represented a shift in career path for the former VC of Balderton Capital.
Launched in 2010 this success, having secured funding from DFJ Esprit and Accel, is growing rapidly with a confidence based upon the premise that fashion should be approached from a consumers perpective. It has to be relevant and engaging.
A social curation platform at heart, Lyst allows users to discover designers and fashion products in ‘real time’ and through a personalised experience, whilst focussed on generating sales.
As Silicon Roundabout plays host to an increasing number of business models that aim to change our future behaviour including the consumption of news, Rupert Turnbull explains why the ‘Reports of the death of Magazines are exaggerated’.
I often find myself sympathising with Mark Twain because just like his own demise, the reports of the death of magazines are greatly exaggerated. It is of course true that just like all media industries the perfect storm of mobile internet and recession have turned the magazine business on its head or – to use the vernacular – it has been thoroughly disrupted. Although I’m not sure I like the word disruption because that sounds negative and implies something unwelcome when in fact we at Conde Nast are
Jon Sutcliffe, Partner at Kingston Smith, believes that keeping and incentivising key staff may not be as difficult as you think!
Good staff, like good clients, usually have their pick of employers, so thinking of ways to recruit, retain and incentivise them is vital. In a people business particularly, the quality of employees can have more of an impact on the bottom line than anything else. For start-ups though, encouraging high calibre employees to join an up-and-coming business can be just as hard as it is to retain them.
Growing Silicon Roundabout startups short on cash but in need of support need not panic, writes Ben Rosen, founder of Inspiring Interns;
For fresh-faced SMEs, the prospect of making a new hire can be daunting. You may not have a huge amount of in-house recruitment experience and any new addition can have a big impact on the dynamic of a small team. Perhaps even more challenging is the idea of hiring an inexperienced graduate whose credentials and potential are much harder to spot. Yet finding the right new young employee could bring you enthusiasm, dynamism and swiftly boost your growth. How does one chart a safe course between minimising the risk of hiring a graduate and the potential it offers? The answer is an internship.
Felix Leuschner founded Stylistpick in November 2010, initially as a subscription only accessories retailer. Over less than 24 months he has cultivated a careful formula to navigate a well populated fashion market to bring the concept of curation to ecommerce in an ‘entertainment led’ way.
A philosophy that places celebrity ambassadors and stylists at its heart, such as Cheryl Cole, Felix has found support and funding ($20m to date) from a discerning group of individuals and VC’s including Accel Partners, Index Ventures and Fidelity Growth Partners. Having launched a French version of the site in May 2012 and looking to do the same in Spain this month, we caught up with Felix for our ‘Ten Smart CEOs’ series.
Silicon Roundabout-based Flubit originally launched as a demand-driven group buying site in August 2011.
From £50,000 in funding 14 months ago, the Flubit business plan has evolved quickly, and having recently secured $1.75m is set to relaunch this summer with a new model still focussed on user demand, but without the group-buying element.
