DAOs As the Next-Generation Crowdfunding Platform Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. DAO stands for Distributed Autonomous Organizations. DAOs hold the promise as the…

DAOs Are Like Gaming Communities Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. DAOs or Distributed Autonomous Organizations are like gaming communities. A gaming community forms…

Background of DAOs Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. DAOs or Distributed Autonomous Organizations define the rules for coordinating a group of people in pursuit of a…

What Are DAOs For? Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. DAO stands for Distributed Autonomous Organizations. DAOs facilitate people’s coordination toward a common goal….

What Are DAOs? Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. DAO stands for Distributed Autonomous Organizations. A DAO is a group of people who join together for a common purpose….

Capturing Their Attention Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. In pitching an investor it’s important to gain the investors’ attention. The timespan for a pitch…

Preacher Prosecutor Politician Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. In pitching your startup you can frame the pitch in several ways. Consider the preacher, the prosecutor…

Research Question Frameworks for Biotech Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Biotech startups must show the efficacy of their solution. Here are several research…

Mistakes in Synthesizing Answers Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. In providing synthesized answers to the investor, here’s a list of key mistakes to avoid. The most…

Synthesizing the Components for a Fundraising Pitch Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. In formulating a pitch for a fundraise, you must synthesize several sources of…

More Best Practices in Answering Questions Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Here are more best practices to consider in answering investor questions Take a moment…

Best Practices in Answering Questions Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Founders answer many questions during the fundraise process. Here are some best practices in…

Good vs Bad Answers to Questions Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. In fundraising the investor will ask the startup many questions. The investor is often limited in…

How To Answer Questions Using Synthesis Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Synthesis can help in answering questions. Here are some key steps to answer questions: First,…

What Are Critical Thinking Skills? Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Critical thinking understands the connection between multiple ideas and concepts. In building a…

What Is Critical Thinking? Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Critical thinking is defined as the objective analysis and evaluation of an issue in order to form a…

How To Use Market Research With Investors Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Market research not only informs the founder about the industry and how to build a startup….

Industry Analysis for Market Research Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. In researching a market for your startup it’s important to analyze the overall industry….

Primary vs Secondary Market Research Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Market research falls into two categories:  Primary and Secondary research Primary market…

Segment the Market Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Market segmentation divides your target market into logical groups based on needs, location, or other factors. The…

Identify the Ideal Customer Profile Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. In researching a market it’s important to identify the ideal customer profile. The ideal…

How To Size the Market Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Sizing the market is a key step in researching an industry. Follow these steps to size the market for your…

Analyze Industry Trends Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. When conducting market research for your startup, it’s crucial to differentiate between primary and secondary…

Identifying Competitors Through Market Research Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. In researching a market segment for launching a startup, identifying competitors is a…

Questions To Use in Market Research Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. In researching a market use these questions to find out more: Who are these people in the market?…

How To Perform Secondary Research Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Secondary research provides additional information about a market. Typically the information is free…

How To Research a Market Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Market research provides many benefits including identifying your target market and your ideal customer. Here…

Types of Market Research Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. There are several types of market research one can use in studying a market segment. Consider these types of…

Why Do Market Research Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Market research is a key step in preparing to launch a startup. Here’s a list of reasons why it’s important…

Closing the Raise Without a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. There are more startups than there are lead investors. Not every fundable startup will find…

Closing a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. A lead investor is important for raising funding. They negotiate the terms and valuation of the deal and bring…

Characteristics of a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Startup founders are looking for lead investors.  Good lead investors exhibit these…

How To Find a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Most investors do not lead the fundraise round but rather follow-on. There’s a great deal of work and…

What Is the Value of a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The lead investor can be an important resource to a startup. Here’s a list of values lead…

Role of the Lead Investor After the Fundraise Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The lead investor has a role before, during and after the fundraise. Here are some key…

What Are Co-Lead Investors? Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The lead investor typically takes up to half of the round in return for leading the diligence and setting…

Disadvantages to Being a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. While there are many advantages to being a lead investor there are also disadvantages. Here’s…

Advantages to Being a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. While the lead investor has many responsibilities there are also advantages. Here are some…

Attributes of a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The lead investor leads the process of negotiating the terms of a deal with a startup. Here are some key…

Responsibilities of a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The lead investor leads the diligence and negotiations with the startup. Here’s a list of…

What Is a Lead Investor Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. A lead investor is an individual or a group that leads the startup funding round by performing the diligence…

Managing the Grant Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. After winning the grant, the work begins. The research must be carried out and the grant providers must be kept…

Best Practices for Writing a Grant Proposal Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The grant proposal will be read by many people of varying background and technical skill….

How To Write a Compelling Abstract Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. In applying for a grant, it’s important to include a compelling abstract. Not everyone involved…

Mistakes in Applying for a Grant Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Grant applications are complex and come with many challenges. Here is a list of common mistakes in…

How To Write a Grant Proposal Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. There are many sources of grants beyond the government such as family offices and foundations. These…

How To Prepare a Grant Application Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The grant application process can take over three hundred hours to complete. Take these steps to…

Conditions for Using a Grant Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. SBIR grant funding comes with requirements for how to use it. SBIR funds for phase 1 are focused on…

Success Rates for Grant Funding Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. Grant funding is challenging to obtain. Only a fraction of applications receive funding. Over the…

Where To Find Grants Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. There are many sources of grants for startups. The main funding source for government grants is the SBIR and STTR…

Lifecycle of Grant Funding Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. The grant funding process goes through a well-defined lifecycle. Here’s the lifecycle process: Planning…

Pros and Cons of Grant Funding There are pros and cons to grant funding. Here is a list of pros: The funding does not need to be paid back. The funding is non-dilutive as no equity is given. Grants are easy to identify. Grants won can help in raising funding…

Checklist for Writing a Grant Application Before writing a grant application make sure you have these things ready to go: A clear statement of the status of the technology and how it works. A value proposition of the technology and how it can provide benefits. A clearly defined goal for…

How To Use Grant Funding After winning a grant, you’ll need to apply the grant funding to your project Consider these best practices on how to use grant funding: Build a rapport with your grant representative. The grant representative is your contact point with the granting organization. Find a way…

Applying for a Grant In applying for a grant consider these factors: Set aside time for writing the grant application. It takes over 300 hours to properly write an SBIR grant. Make sure you are giving it the time and attention it requires. Understand the grant review process. Each granting…

Should You Pursue a Grant? Grants provide seed money to startups. Consider these points in determining whether or not you should pursue a grant. Grant funds can only be used for the stated purpose in the grant proposal. If you need funds for operations, inventory, or administrative tasks, then you…

What Is a Grant? A grant is funding to a startup to further the business but does not take equity nor must be paid back. The government provides grants to startups to help commercialize the technology and foster economic growth. Federal grants are given to startups to promote specific technology…

Mistakes in Commercialization Commercialization of technology requires key skills in market research, product development, and customer engagement. Avoid these mistakes in commercialization: Focusing on researching the technology only. Set aside time for selling, marketing, and product development. Failing to maintain commitment. Tech commercialization requires several years of work to achieve….

How To Engage Academics Into Commercialization Universities often encourage academics to commercialize their technology to advance their research. Here are some key steps to engage academics into commercialization: Focus on the impact of the research rather than the revenue generated. Encourage the researcher to promote the technology into other groups….

Best Practices for Commercialization In commercializing technology here are some best practices to consider: Educate the market about the problem you solve and the solution you offer. It’s often the case the technology founder assumes the world understands the problem. You must educate the potential customer about the problem and…

How To Build an MVP Hello, this is Hall T. Martin with the Startup Funding Espresso — your daily shot of startup funding and investing. A minimum viable product or MVP is a usable product that has minimal but must-have features. Here are the key steps to building your MVP:…

Using Prototypes To Raise Funding In raising funding, a prototype is invaluable. Here are some reasons why investors fund projects that have a prototype: The prototype demonstrates you can build it. It gives you a tool to engage customers.   Prototypes help you define the product better by observing how the…

Steps to Creating a Prototype A prototype is an early model of your technology to show proof of concept and gather feedback from potential customers. Prototypes can also be used to raise funding from investors. For building a prototype keep these key issues in mind: The current market for your…

Purpose of Prototypes in Commercialization In commercializing your technology one of the most important elements is building a prototype. Prototypes provide several benefits and should be a high priority to complete as soon as possible.  Many inventors use their resources to write another white paper or run another experiment. The…

Best Practices for Grant Writing Raising grant funding is a key step in commercializing your technology. Here are some best practices for grant writing to consider: Research the goals and objectives of grants to understand what is currently of interest. Make sure you have set up a legal entity for…

Funding Options for Tech Commercialization There are several options for funding the commercialization of technology. Here’s a list of sources to consider: Self-funding — consider putting some of your own funds into the business. This proves to others your commitment to the project. Make sure this funding goes to key…

Finding Anchor Customers An anchor customer is one that provides a substantial amount of business on a recurring basis. These customers are important as they give you a base level of business each month. You save the time and cost of prospecting for the customer as they are already signed…

When Should You License Your Technology Instead of Building a Startup In commercializing your technology there are two primary paths:  building a startup or licensing the technology to others. You should consider licensing your technology when the following conditions exist: The development cost of bringing the final product to market…

How To License Your Technology Licensing your technology to another company provides another path to commercialization. Here are some key steps to licensing your technology: Prepare information about the technology including an introduction, product description, and manufacturing information. Also document the product benefits, market research, and pricing. The product information…

What Is Licensing in Commercialization Licensing in commercialization is the right to manufacture and sell a product with the technology of another company.   In return for the right, the licensee pays a royalty fee for each unit sold. Licensing brings the following advantages to the licensee: You gain the know-how…

Key Legal Documents Used in Commercialization There are several legal documents used in the commercialization process Here’s a list of key documents to know: Non-disclosure agreement — referred to as an NDA, this document requires the signatories to confidentiality with regards to information about the project. Material transfer agreement —…

Different Paths of Commercialization There are different paths of commercialization. These paths include startups and licensing. Founders license the technology from the source and then establish a company to create a product to sell for a profit. The startup requires a team to build, sell, and support the product. The…

Innovation Models Technology commercialization applies new technologies to the formation of a business. Innovation drives technology commercialization. To grow your business you may need to foster the development of the technology and its supporting functions. Here are several innovation models to consider to grow your technology. Open innovation model. Some…

Intellectual Property in Commercialization A key component in commercialization is intellectual property. Intellectual property refers to work or invention that comes from the creativity of the mind such as a design, literature, or artistic works.  It comes in several forms including patents, copyrights, trademarks, trade secrets, and industrial designs. Government…

Testing Your Idea for Commercialization Before commercializing your technology, test the idea with these questions: What product should you build? There are many ways to apply technology to a problem. Who is the target customer and can they pay for it? It’s important to gain clarity on your target audience…

Key Steps in Commercialization Once you start down the path of commercialization, there are some key steps to accomplish. Determine patent strategy. There are several ways to protect intellectual property including patents, trade secrets, trademarks, and more. Review each option for your technology. Gain a Freedom to Operate opinion. This…

What Is Commercialization Commercialization is transitioning technologies from the lab into products in the marketplace. It is important because it brings new technologies to solve problems. Technologies and products bring new capabilities and can also reduce the costs of existing solutions. Commercialization requires refactoring the technology into a product that…

Key Questions for Succession Planning Succession planning is a key part of running a family office. Here are some key questions to consider in planning your succession program. Do you need a succession plan? All family offices need a plan to help transition the business to the next management team….

Succession Planning for Family Offices In running a family office, succession planning is an important function. Here are some key considerations in succession planning: Understand the generational differences in the family and how it may impact the future leadership. Some generations do not want to continue a family office but…

Best Practices for Running a Family Office In running a family office here are some best practices to consider: Set up a mission statement that captures the values of the family. Tie that mission statement to the operational goals and financial results. Set up the legal entity and the operations…

Best Practices for Setting Up a Family Office In setting up a family office consider these best practices: Build an investment strategy that leverages the strengths of the family including their skills, resources and network. Set up a formal diligence process to screen incoming deals in a rigorous manner. Assess…

Drawbacks to Starting a Family Office There are drawbacks in starting up a family office. Consider these challenges in setting up your family office. The upfront and ongoing costs can be considerable. These costs include the following: Hiring professionals and operational people can cost a great deal in today’s market….

Operational Objectives for a Family Office In running a family office there are several key operational objectives for the family office to achieve. Here’s a list of key areas to consider: Governance. This includes leadership, board management, communications and succession planning. The leadership should continuously improve the operational efficiency of…

Choosing a Leader for a Family Office In setting up a family office, one must choose someone to lead it. There are several types of leaders to consider: Operations — focuses on the day-to-day tasks of running the business. This leader provides oversight over all aspects of the business including…

Problems in Family Offices There are challenges in running a family office. Here are some key problems to watch out for: Treating the family office as a hobby rather than a business. The family office is a legal entity with employees, investments, and tax filings. It’s important to treat it…

Functions of the Family Office The family office provides many functions in a family business. Here’s a list of functions to consider including in your family office: Wealth management – this involves setting objectives, identifying investment opportunities and providing ongoing oversight. Impact focus — this includes pursuing investments and activities…

Types of Family Offices Family offices vary in type and structure. Here are three types of family office structures to consider. Single-family office. This structure provides services exclusively to one family. It offers the most customized program. It is the most expensive type of family office structure. It works best…

Benefits of a Family Office There are several benefits to setting up a family office. Here is a list of key benefits to consider: Carry out the stated mission of the family business. Optimize the wealth of the family through investment strategies. Reduce taxes through tax-advantaged structures. Provide education to…

Structuring a Family Office for Tax Benefits Structuring a family office for tax benefits is a key consideration in setting up a family office.  Consider these points in structuring your family business for tax purposes. Because the family office is a separate legal entity, one can move additional costs from…

Structuring a Family Office Structuring a family office requires many decisions in order to find the optimal solution. Consider these points in structuring your family business: Who does the family business serve? This typically includes the family and their offspring.   What services should the family office provide? There’s a cost…

Goals of a Family Office Family offices can pursue several goals. Here’s a list of key goals to consider for your family office and their implications in setting up the business. Investments — the complexity of the investments determines the number and type of advisors to engage. The simpler the…

Do You Need a Family Office Before setting up a family office, first consider if you need one. Here are some key considerations to review: Do you have the income to support a family office? Aside from a high net worth on paper, you’ll also need to fund the operations…

Keys Steps in Setting Up a Family Office In launching a family office there are several decisions to make. Here are key steps in setting up a family office: Choose a family office structure. There are three types of family offices, single, multi, and virtual. The single-family office serves one…

Before Setting Up a Family Office A family office manages the wealth of a family. Before starting a family office consider these points: What is the asset level of the family office? The fee is based on the assets under management. The higher the asset level, the higher the fee….

How the Board Can Help During a Turnaround During a turnaround, the board should help. Here are some key steps to engage the board in the turnaround process. Interview the board for their input on the turnaround plan. Reconfirm the board’s role in the company. Define the specific activities the…

Why Turnarounds Fail Just as not all startups succeed so not all turnarounds succeed either. Here’s a list of reasons why turnarounds fail: Failure to adapt. The market continually changes so it’s important to keep up. Make sure you are following the market and change to meet it. Failure to…

Managing Employees in a Turnaround During a turnaround, it’s important to maintain team morale and involve everyone in the process. Here are some key steps to managing the team. Make clear the need for the turnaround. Employees may not have visibility on the financials and don’t know how much the…

The Four Rs To Turnaround a Business A turnaround can take several forms based on the severity of the changes required. Some businesses require a complete overhaul of their operations while others perform a repositioning or rebranding. Here are the four Rs to turn around your startup: Retrenchment. In retrenchment,…

Key Tests of a Turnaround Process In turning around a startup there are key tests you must pass to achieve success. Here’s a list of tests: Is the core business viable? If the basic business won’t work then no amount of funding or strategy will save it. Do the team…

Best Practices for a Turnaround There’s an old saying, ‘Never let a good crisis go to waste’. A turnaround is not only a crisis but also an opportunity to rebrand, redirect, and reposition the company. Here are some best practices for working on a business turnaround. View each turnaround as…