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Vitaly Golomb is a venture capitalist, serial entrepreneur keynote speaker and author of Accelerated Startup; a former founding partner at HP Tech Ventures, which is the corporate venture arm of Silicon Valley’s original startup; he’s currently Managing Director and Global Head of Principal Investments at IEG Investment Banking Group; he’s a contributing writer to TechCrunch; and he’s a top-ranked mentor at a number of startup accelerator programs.
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- A great list of accomplishments for Vitaly Golomb at golomb.net.
- Here’s what made Vitaly get into mentoring startup program.
- A techie at 13, he started running companies while in college.
- Before he went to the “dark side” he had an office in the Ukraine and then began mentoring others, and this is what he noticed.
- Entrepreneurs around the world had these same issues.
- These activities in Europe, Asia and China lead him to write his book.
- You should listen to his TedTalk mentioned here because few have gone through such adversities and come out on top.
- How do you accelerate a startup?
- What is a startup? Is every new business a startup?
- Are you doing something different that no one has done before?
- Are you doing something that has no roadmap, because it’s completely new?
- This is precisely where mentoring comes into play.
- Are you going out there, into the wilderness without a map?
- You have to do this to make less mistakes and get closer to your goal.
- Is the way to accelerate a startup, to throw money at it? You will be surprised to find this out.
- Here are some of the actions that Vitaly can bring to the table that can truly help a startup become successful.
- If your business is going the wrong way, this will happen by throwing money at it. Surprising.
- Did you ever guess that having constrained resources will accomplish this fact?
- There are plenty of stories of companies being over-funded and having this action happen to them.
- Milestone or stage-based startups. Is that good?
- Expanding a startup is like a video game. You have to beat the boss to move up to the next level. Check this out.
- There are 3 general areas in the startup journey described here.
- Are you trying to get a product-market-fit?
- Are you trying to find the customer for your product which solves a problem for them that they must have?
- Do you have a product that almost sells itself?
- The most fun part of the startup journey is the transition.
- Now that you hit this level, you really graduate and become a company.
- Do you see the same small company at conferences, year in, year out, and they are doing the same thing on a very slow basis? Vitaly tells why.
- The goal here is to graduate to the next stage and become a company as fast as possible.
- Here’s a breakdown on how financing works to grow a company.
- At this point, now you can raise seed capital.
- When you have proof of concept, your making money on every customer, you can raise series A.
- When you really start showing that your scaling and these steps… then you can raise series B.
- Think of your business like this: it’s a science experiment.
- What makes a startup special?
- What is attractive and makes it a win-win for a venture capitalist?
- There is a limited time for a startup idea to graduate before it becomes enterprises. So there is going to be a race there.
- When Vitaly listens to a founder and entrepreneur pitch their startup, he asks these two questions.
- Vitaly talks deeply about taking companies to $100 million, $300 million, and even a $ billion revenue company.
- This interview with Vitaly Golomb is not about making a million a year, or in that range. It’s a much bigger game…
- Now, we move into the entrepreneur world a little bit deeper here.
- What do entrepreneurs need to get going?
- What are some of the big mistakes entrepreneurs make?
- This one point is the most important by far.
- You will see this in all the surveys of failed startups.
- Vitaly Golomb gives a list of actions here to take to grow your business.
- Vitaly made this mistake with a company and shares his wisdom.
- The more successful you are, the more of these things will show up to get in your way.
- A little bit of info on Vitaly Golomb’s book, Accelerated Startup.
- Touring at least 20 countries a year, Vitaly sees these same problems with startups. All of these are in his book.
- Vitaly writes how to take your idea, turn it into a product, and turn that into a company.
- Every step imaginable is in Vitaly’s book on how to truly build your business up to your first 10,000 customers.
- Vitaly’s book is available in hardback, on Amazon, on Kindle, as an e-book, audio book…the works.
- Vitaly Golomb shares his personal motivation and drive. Heartwarming.
- Check out Vitaly at golomb.net.
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Vitaly Golomb provides an exact and detailed roadmap for any startup to accelerate rapidly to the hundreds of $ millions in a few years. Listen up to someone who’s done it over and over, and over. He knows what he’s talking about and gives some great information. This is a must for anyone that wants to grow their business!
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