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I’ve summarized a few of the most common provisions that should be negotiated below. In true lawyer fashion, I’ll caveat this post by saying that this list isn’t intended to be a complete summary of all relevant provisions; consult with trusted advisors before negotiating and executing a term sheet. 

Valuation and Percentage Ownership. This is one of the core business items of any term sheet – what is the pre-money valuation as compared to the size of the investment? Put differently, what stake in the company will the investor(s) receive. Not only will this reflect the ownership percentage of the company that you are willing to give away to the investors, but it will have a lasting effect on the company’s capital raising efforts with respect to later financing rounds, anti-dilution provisions and option grants. It is important to always give careful and thorough attention to the valuation, and to keep in mind that a higher valuation is not always a “better” valuation. Pro tip: review and finalize a pro forma cap table before signing a term sheet to make sure you understand the various moving pieces and dilutive effect of a round.

Board of Directors. Yes, this is “your company”, but the term sheet will reflect the amount of control and power you will give to the venture capital investor – both in the boardroom and through stockholder protective provisions (discussed below). Generally, an investor’s term sheet will propose a 3-person board that’s comprised of two common stock representatives (usually the founder and/or founding team members) and an investor representative. However, there are numerous ways this could play out, like having a larger-sized board, using an “independent” director for one of the common stock seats, mandating there always be a “CEO” director, etc. To complicate matters a tad further, while the default rule is that the vote of a majority of the members of the board is required to take action, it’s important to understand (i) quorum and written consent rules, as the interplay of these rules with the makeup of the board may have a bigger impact on board dynamics than you’d expect and (ii) any proposed preferred director approval rights. Beyond the black and white of the term sheet and legal documents, a key driver for any company’s success is a healthy, balanced and efficient boardroom – so it’s important to keep this in mind when entertaining term sheet offers and provisions from potential investors. Early discussions with a potential investor about boardroom dynamics and board composition is never a bad thing because it will allow you to fully evaluate an offer and ensure that the parties involved are aligned.

Protective Provisions. A typical term sheet will include a list of “protective provisions” in favor of the investor (or holders of a majority of the shares of preferred stock to be issued to the investors). What does this mean? This means that there are certain company actions that the investor is saying cannot be taken without obtaining that investor’s consent. There are definitely some “industry standard” protective provisions, but all of these (whether standard or not) should be given careful thought and consideration before executing a term sheet. An interesting discussion point here that often comes up is understanding the applicability or inapplicability of fiduciary duties to members of a company’s board and/or preferred stock investors. 

Vesting. At the end of the day, an early stage investor is investing in both the company and its founders and founding team members – sometimes more of the former, sometimes more of the latter and sometimes all things are equal. All that said, investors value the founders and other core members of the team, and will want to ensure that these key members are incentivized to stick around and continue building the company. Long story short, even if your equity was issued at formation without any vesting terms or with vesting terms that are well underway, many investors will “reset” or modify vesting terms to ensure key members stick around. Beyond the length, it’s important to understand (and often negotiate) related vesting terms like what, if anything, happens to your equity upon termination (with or without cause) and/or a sale of the company (is there single-trigger acceleration or double-trigger acceleration)?

Liquidation Preference. This is a core economic and legal term for sure, and definitely one that it is important to wrap your head around and negotiate (if necessary) as it not only will impact the amount of sale proceeds that could go to the holders of common stock in an exit but it will have a lasting impact on subsequent fundraising efforts. The typical construct is a 1x non-participating preference, but sometimes you’ll see references to accrued (or other types of) dividends, replacing a non-participating preference with a participating preference, and other terms. While some of these words and phrases can seem like legalese, the liquidation preference is a core business term that has an economic impact on the deal so it is important to fully understand the liquidation preference provisions of a term sheet. More importantly, while you may think that the liquidation preference in a “small” Series Seed or Series A financing round may not have a large economic impact on you as a founder and holder of common stock due to the dollars at stake in that “small” round when you model things out, it’s vital to make sure that you can “see the forest through the trees” here when negotiating the liquidation preference. Put differently, this matters, and it matters a lot on a go-forward basis.

***

Getting a term sheet is an exciting time; executing a term sheet on favorable terms will not only be thrilling but it’ll set you and the company up for an awesome and successful ride. 

The post What You Need To Know About Negotiating A Venture Term Sheet appeared first on Founders Workbench.

In this issue of the Flash, we outline five aspects entrepreneurs should concentrate on before or while executing their startup idea.

The Pitch: How you pitch your idea to the investors or people who are going to invest in your startup is one of the most essential aspects that a startupreneur should never neglect.

Growth: Funding or raising capital is that part of the business without which startups cannot survive. 

Team: Having a dream team, consisting of like-minded people who share the vision of the founder is a win-win for startup entrepreneurs. 

Mentors: Mentors, accelerators and incubators provide a space for startups to make mistakes, learn and most primarily, to grow.

Public Relations: A startup cannot work in isolation. It cannot go on to do great things and accomplish great success without the world knowing. The PR machinery works like a bridge between the startup and the audience and even the investors.

Also, in this week’s Flash: 

• The Entrepreneurial Superpower Of Doing More (Forbes)
• 17 Excellent Entrepreneurship Books You Can Read In A Weekend (Forbes)
•  Navigating Business Partnerships as an Entrepreneur (Entrepreneur)
• 5 Bold Ideas for 2019 That Might Just Change the World (Inc.)

The post Founders Flash: The Top Five Aspects Entrepreneurs Should Concentrate On appeared first on Founders Workbench.

In this issue of the Flash, we share advice from Mark Cuban, Dallas Mavericks owner and star on ABC’s Shark Tank.

• Business Is The Ultimate Sport
  • In business, you’re on, you’re competing 24 hours a day, 7 days a week, 365 days a year forever against not only people you know, but people you don’t know
• Identify Your Startup’s Weaknesses
  • No company, no product is perfect – and you must identify your companies weaknesses so you can start to fix them
• Understand The Importance Of Inclusivity And Diversity 
  • If your employees look like you, you are doing it all wrong
• Resist The Urge To Raise Money
  • Startups should especially be wary of raising money early, when they’re asked to give up lots of equity

Also, in this week’s Flash: 

• How To Become An Entrepreneur Without Starting From Scratch (Forbes)
• This Year’s Crop Of FinTech Innovation Lab Startups Focused On AI, Insurtech, Compliance (Forbes)
• Tech Sector Leads the Way on Positive Day for Entrepreneur Index (Entrepreneur)
• Why Every Entrepreneur Should Treat Their Personal Brand as Their ‘Side Hustle’ (Inc.)

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“Glossier is not product-led, but values-led. The Glossier line is completely secondary to the Glossier idea, and that’s what women buy into.” – Emily Weiss

In this issue of the Flash, we discuss how the beauty and skincare line disrupted the marketplace and turned into a billion-dollar business with these inspirational unicorn lessons from Emily herself:

1. Build an exceptional relationship with your customers

By connecting directly with consumers, Glossier has access to endless inspiration for new products.

2. Disrupt the marketplace

Glossier built an entirely new kind of beauty company: one that owns the distribution channel and makes customers stakeholders.

3. Leverage social media

Glossier used social media to spread the word and build a fan base by making the experience of purchasing pleasurable and highly shareable.

Goodwin, led by partner Daniel Lang, has represented Glossier since formation. Goodwin recently kicked off the first of its Fearless Forum series with Girls Who Code founder, Reshma Saujani and Glossier founder, Emily Weiss at Glossier’s headquarters. The event brought together founders, investors, influential women, and allies from across the tech community for a thoughtful discussion in support of Reshma’s new book, Brave Not Perfect.

Also in this week’s Flash:

• 15 Signs Your Startup Is Scaling Too Quickly (Forbes)
• Here’s How the Entrepreneurs Can Increase their Productivity (Entrepreneur)
• U.K.’s Message To Israeli Startups: Don’t Be Put Off By Brexit (Forbes)
• Digital Marketing 101: What Small Businesses Need to Know (Small Business Trends)

The post Founders Flash: Three Lessons From New Unicorn Glossier appeared first on Founders Workbench.

Now, these real-estate startups are tweaking their original business model in hopes of boosting revenue and creating new opportunities.

A growing number of co-working companies have figured out a new way to diversify revenue and boost profits: emulating the private equity model in real estate.

In this issue of the Flash, Goodwin partner Minta Kay shares her thoughts on real estate startups investing in private equity in The Wall Street Journal’s article “Real-Estate Startups Try Their Hand At Private-Equity Investing.”

Also, in this week’s Flash:

• How To Be on the Right Side of Entrepreneurship, Always (Entrepreneur)
• Entrepreneur: Are You Or Aren’t You? (Forbes)
• 15 Ways Serial Entrepreneurs Can Regain Focus And Productivity (Forbes)
• Which Types Of Startups Are Most Often Profitable (TechCrunch)

The post Founders Flash: What It Means For Real Estate Startups When They Invest In Private Equity appeared first on Founders Workbench.

In this issue if the Flash, we highlight how six entrepreneurs earned their first “Yes!”, and the lessons learned.

1. Bait the hook.
2. Follow up.
3. Tell the truth.
4. Over prepare.
5. Get real.
6. Take a risk.

Also, in this week’s Flash:

• Four Secrets To Success As A Midlife Entrepreneur (Forbes)
• Top 20 Types of Self Employment for Entrepreneurs (Small Business Trends)
• The Recipe For Success: The Top 10 Talents That Make Successful Entrepreneurs (Entrepreneur)
• Nadir Pearson: Cannabis Entrepreneur/Activist (Forbes)

The post Founders Flash: How To Earn Your First “Yes” In Business appeared first on Founders Workbench.

In this issue of the Flash, we are outline lessons for millennials through the lens of entrepreneurs who have had inspiring success.

• Stop giving it a try — go all in
• Innovate around innovations
• If it’s all about you, you probably won’t last
• Success is never self-made

Also, in this week’s Flash:

• 5 Women Entrepreneurs On Discovering The Right Time To Start A Business (Forbes)
• Marketing Success Doesn’t Have to be Hard, Here are 14 Roles to Fill (Small Business Trends)
• 3 Time-Management Tips for Entrepreneurs (Entrepreneur)
• Mentally Strong Entrepreneurs: The 10 Things They Avoid (Forbes)

The post Founders Flash: Lesson To Learn From Inspiring Game Changers appeared first on Founders Workbench.

“It makes the process more informed. So when [companies] are ready to go to market, they have heard the investors’ concerns and have the time to address it.” – Goodwin Capital Markets Partner, Edwin O’Connor

In this issue of  the Flash, partner Edwin O’Connor shares his thoughts on the SEC’s newly proposed “test the water” reform, and explains what it could mean for your startup. To learn more, please read Goodwin’s latest Client Alert: SEC Proposes Universal Access to “Testing-the-Waters” Exemption.

Also in this week’s Flash:

• Successful Entrepreneurs Create Something From Nothing (Forbes)
• 12 Ways to Streamline Communications With SaaS Vendors (Small Business Trends)
• How Entrepreneurs Can Help Developing Countries Hard Hit By Climate Change (Entrepreneur)
• Eight ‘Harmless’ Habits That Secretly Hinder Entrepreneurs’ Success (Forbes)

The post Founders Flash: Here’s What The New Rule Proposed By The SEC Means For Your Pre-IPO Company appeared first on Founders Workbench.

In this issue of the Flash, partner Scott Joachim discusses the convergence of technology and private equity and common pitfalls he sees tech investors making.

Also, in this week’s Flash:

• I Wish I Knew Then: 10 Successful Entrepreneurs Share Their Best Business Advice (Forbes)
• Using Crunchbase to Build Your Brand (Small Business Trends
• Entrepreneurs Reshaping The Future (Entrepreneur)
• Are Successful Entrepreneurs Born or Made? Both (Forbes)

The post Founders Flash: Here’s How The Convergence Of Technology And Private Equity Will Affect Your Business appeared first on Founders Workbench.

In this issue of the Flash, we are revealing advice entrepreneurs wish they could give to their younger selves if they could go back in time.

1. Everything Is About Creating Value
2. Don’t Get Caught Up In The Outcome
3. Cash Is King
4. Be Disciplined In Growth
5. Master Selling
6. Don’t Burn Out

Also in this week’s Flash:

• These Entrepreneurs Were Rejected Hundreds Of Times Before Bringing In Billions (Forbes)
• 5 Hacks For Busy Entrepreneurs (Small Business Trends)
• Why Deliberate Practice Matters for Entrepreneurs (Entrepreneur)
• Why More Women Are Turning To Entrepreneurship (Forbes)

The post Founders Flash: 6 Pieces Of Advice Successful Entrepreneurs Would Give To Their Younger Selves appeared first on Founders Workbench.

In this issue of the Flash, we outline four traits and lessons learned by small business owners who thrive.

1. They Start Strong
2. They Continually Seek New Customers
3. They Invest In Their Business
4. They Work Hard

Also, in this week’s Flash:

• Proof That We Can Teach People To Be Entrepreneurs (Forbes)
• 6 Ways The Most Successful Entrepreneurs Avoid Burnout (Fast Company)
• As Entrepreneurs, Indigenous Australians Find a Growing Empowerment (The New York Times)
• How Patience Pays Off for Entrepreneurs Disrupting a Traditional Industry (Entrepreneur)

The post Founders Flash: Four Lessons From Founders Who Thrive appeared first on Founders Workbench.

In this issue of the Flash, we outline four game-changers who have famously shifted careers later in life. 

1. Vera Wang was an editor at Vogue for 17 years before she became a famous fashion designer at the age of 40.
2. Jeff Bezos had a successful career in computer science on Wall Street and took on top roles at numerous financial firms before launching Amazon at the age of 31.
3. Ray Kroc spent his career as a milkshake-device salesman before buying McDonald’s at the age of 52.
4. Bernard Marcus was fired from hardware store Handy Dan at the age of 48 along with his coworker Arthur Blank. The duo later started a rival retailer, Home Depot.

Also, in this week’s Flash:

• How To Spark Entrepreneurship: Lessons From Innovation Hubs (Forbes)
• Shopify opens its own studio to create inspirational content for wannabe entrepreneurs (Fast Company)
• Top 10 US Cities Where Minority Entrepreneurs Are Succeeding (Small Business Tools)
• 5 Effective Ways Entrepreneurs Can Pivot Better When Things Go Kaboom (Entrepreneur)

The post Founders Flash: Four Entrepreneurs Who Famously Shifted Careers Later In Life appeared first on Founders Workbench.

In this issue of the Flash, we take a look at the global entrepreneurship trends, according to the 2017-2018 Global Entrepreneurship Monitor (GEM) report, which notes that 74 percent of entrepreneurs around the world have started businesses in pursuit of an opportunity rather than out of necessity.

Also, in this week’s Flash:

• How Crowdfunding Works For Entrepreneurs (Forbes)
• 12 books that CEOs think you should read in 2019 (Fast Company)
• 10 Tips For Entrepreneurs (Phoenix Business Journal)
• Why Entrepreneurs in 2019 Should Play the ‘Chess’ Version of Taxes, Not the ‘Checkers’ One (Entrepreneur)

The post Founders Flash: Millennials Set Global Entrepreneurship Trends appeared first on Founders Workbench.

“When you buy a company, everything is negotiable except strategy and culture.”- John Chambers

Our Goodwin San Francisco office recently co-hosted a half day workshop entitled “M&A Masterclass” with SOSV/ HAX on November 16, 2018. The workshop featured panel sessions on The Art of Corporate M&A, a CFO discussion, and a fireside chat with Cisco’s John Chambers who offered 10 lessons on tech M&A. In this issue of the Flash, we recap these key learnings:

1. M&A Is A Vaccine Against Irrelevance
2. Tech Is Entering Every Sector
3. Your Customers Can Tell You What To Buy
4. Pick The Right Match
5. Build Your Playbook(s)
6. Do Your Homework
7. Pay For What The Value Is To You
8. Keep The Talent
9. Expect Some Failures
10. In The Future, Acquisitions Might Not Be Enough

Also in this week’s Flash:

• Gary Vaynerchuk: What Entrepreneurs Should Know Before Pitching In 2019 (Forbes)
• 5 rules to help build a successful business with purpose (Fast Company)
• 10 Entrepreneurs Reveal Their ‘Secret Weapon’ Character Trait (Forbes)
• Brexit Is Just One More Problem European Entrepreneurs Have to Deal With (Entrepreneur)

The post Founders Flash: 10 Lessons On M&A From Cisco’s John Chambers appeared first on Founders Workbench.

In this issue of the Flash, we look at big-name startups preparing for IPOs in 2019.  According to The Wall Street Journal, nine U.S.-based startups have been valued at more than $10 billion by private investors — and at least five are expected to go public in 2019.  Goodwin’s Technology Companies and Capital Markets Partner Brad Weber shares his thoughts in the article.

Also in this week’s Flash:

• The ultimate guide to making better resolutions in 2019 (Fast Company)
• 4 Tips For Securing Sponsorship As A New Entrepreneur (Forbes)
• 4 Workplace Trends Every Small Business Should Know About for 2019 (Entrepreneur)
• Stepping Up: Serial Entrepreneur Gary Vaynerchuk (Entrepreneur)

The post Decacorn Is The New Unicorn: Five Decacorns That Could Go Public In 2019 appeared first on Founders Workbench.

In this issue of the Flash, we unveil four new year business resolutions to help advance your company and boost your work-life balance along with words of wisdom to empower your 2019 goals.

1. Grow As A Leader

    “Develop a passion for learning. If you do, you will never cease to grow.” – Anthony J. D’Angelo

 2. Keep Up With The Industry Trends

    “The art of life is a constant readjustment to our surroundings.” – Kakuzo Okakaura

 3. Be Adaptable

   “An adaptable company is one that captures more than its fair share of new opportunities. It’s     always redefining its ‘core business’ in ways that open   up new avenues for growth.” – Gary Hamel

 4. Learn To Manage Stress

    “It’s not the load that breaks you down, it’s the way you carry it.” – Ena Horne

Also in this week’s Flash:

1. 1. • These are the 7 best business books of 2018 (Fast Company)
      • Fintech Unicorn Brex Considers Brazil Launch (Forbes)
      • 5 Business Trends That Will Continue to Rise in 2019 (Entrepreneur)
      • Something to Think About for the Coming New Year: You’re Not Too Old to Be an Entrepreneur (Entrepreneur)

The post Founders Flash: Four New Year Business Resolutions All Entrepreneurs Should Make In 2019 appeared first on Founders Workbench.

In this issue of the Flash, we discuss how entrepreneurship can be learned by anyone and identify three core skills and aptitudes that make an entrepreneur successful: persistence, ability to evaluate risk, and adaptability.

Also in this week’s Flash:

• The 7 greatest impediments to American entrepreneurs (Fast Company)
• How To Cash Out As An Entrepreneur (Forbes)
• 5 Video Marketing Trends You Should Follow in 2019 (Entrepreneur)
• In emerging markets there are no copycats, just budding entrepreneurs (TechCrunch)

The post Founders Flash: Traits Of A Future Entrepreneur appeared first on Founders Workbench.

This week’s Flash is dedicated to Goodwin startup clients who inspire us, and continue to do so.

Learn how these four innovative entrepreneurs turned their startup dreams into reality and are changing the game in their industries by reading the case studies below:

1. WiTricity: Electricity In The Air
2. Spyce Kitchen: Faster Food To Go
3. Utopus Insights: Building A Brighter Future
4. Infatuation: Glowing Reviews

Also in this week’s Flash:

• The 50 Most Daring Entrepreneurs in 2018 (Forbes)
• 10 Promising European Startups Founded By Strong Women (EU Startups)
• Balancing Work and Life: No Holidays for Entrepreneurs? (All Business)
• How to Succeed as an Entrepreneur (Entrepreneur)

The post Founders Flash: Four Inspiring Startups To Learn From appeared first on Founders Workbench.

As we’re in full holiday season mode, we are gifting you four survivor tips so you (and your business) can enjoy these last few weeks of 2018.

1. Take it slow. Don’t let business concerns overwhelm your time.
2. Schedule Downtime. In order to get some time off and unplug, it’s important to schedule it.
3. Focus On Revenue. Your goal through the holiday season should be to focus on sales and generate revenue.
4. Be Grateful. Take some time to reflect on what you have and what you have built.

Also in this week’s Flash:

• Time Optimization: Five Methods For Entrepreneurs To Make The Most Of Their Day (Forbes)
• Eight Saudi Entrepreneurs Paving The Future (Entrepreneur)
• Entrepreneurs Are the Celebrities of the Business World (Entrepreneur)
• How To Increase Your Fundraising Success: Advice From Five Prominent Entrepreneurs And VCs (Forbes)

The post Founders Flash: How To Enjoy The Holidays As A Entrepreneur appeared first on Founders Workbench.

Diversity is critical for any organization to innovate and adapt in a fast-changing environment, and successful entrepreneurs and leaders are becoming more proactive when it comes to attracting diverse talent and creating an inclusive workplace. An inclusive workplace results from the actions taken on a daily basis.

In this issue of the Flash, we highlight insights from Goodwin’s inaugural Pride@Goodwin retreat, a discussion that focused on creating an inclusive workplace for transgender employees.

The panel discussion touched upon organizational barriers facing transgender employees and progress made to reduce or eliminate these roadblocks, the current legal landscape for transgender protections, challenges and threats to jeopardize these protections that lie ahead, and the importance of education, awareness and advocacy in the efforts to protect and advance transgender employees in the workplace. Goodwin partners and Pride@Goodwin co-chairs Koray Bulut and Jim Mattus provided opening remarks and Blake Liggio and Jason Wu participated as panelists. 

Watch Blake Liggio’s segment on being a transgender lawyer and the support he received from Goodwin in this brief video.

Also in this week’s Flash:

• 3 ways entrepreneurs can influence the adoption of environmental standards (GreenBiz)
• How First-Time Entrepreneurs Can Learn From Amazon’s HQ2 Decision (Forbes)
• How the Geography of Startups and Innovation is Changing (Harvard Business Review)
• 5 most valuable tech startups in San Diego (The San Diego Union-Tribune)
• The Contribution of Banks in the Growth & Development of Entrepreneurship (Entrepreneur)

The post Founders Flash: The Importance Of Diversity, And Why It Breeds Innovation appeared first on Founders Workbench.

Blockchain technology is enabling a whole new wave of entrepreneurs to think differently, build more quickly, more efficiently, and much bigger than ever before. The immense opportunity in blockchain is unique to our time, and new entrepreneurs have immediately made sense of just how valuable digital currency is.

Formally established in 2015, Goodwin’s Digital Currency + Blockchain Technology Practice has remained at the forefront of this wave of innovation, helping startups capitalize on this pivotal merger of technology and finance. Goodwin’s Digital Currency + Blockchain Perspectives, launched in March 2015 (when Bitcoin was going for less than the price of a four-star dinner), was one of the first legal blogs to focus on the digital currency movement.

In this issue of the flash, we discuss the importance of capitalizing on disruptive new technologies like blockchain, and why it demands experienced guidance.

Also in this week’s Flash:

• Why Blockchain Is Essential for New Startups (Cloudbric)
• How Entrepreneurs Create Connection in the Age of Isolation (Forbes)
• 5 most valuable tech startups in San Diego (The San Diego Union-Tribune)
• This Is How Successful Entrepreneurs Recognize When to Move on (Entrepreneur)

The post Founders Flash: How Can Entrepreneurs Leverage Blockchain appeared first on Founders Workbench.

In this issue of the Flash, we share a few of these leadership insights:

“You should be thinking constantly about others in your organization and what you can do to help them do their job better.” – David Hashmall

“Being a leader means being inspirational. We aspire to have everybody feel that they are a leader.” – Rob Insolia

“I believe leading at every level is first and foremost understanding the organization that you are a part of.” – Michael Caplan

For more tips from Goodwin’s leaders, watch this brief video. 

Also in this week’s Flash:

• Why Entrepreneurs Must Learn to Re-Invent Themselves (Entrepreneur)
• Change Starts At The Top: How Leaders Can Foster A Culture Of Inclusion (Forbes)
• Why these CEOs think transparency is crucial for workplace success (Fast Company)
• Want to Succeed? 10 Extraordinary Entrepreneurs Say You’ll Need These Qualities (Entrepreneur)

The post Founders Flash: Leading at Every Level appeared first on Founders Workbench.

In this issue of the Flash, we outline five positive characteristics of rebels, and the importance of their unconventional outlooks:

1. Authenticity
2. Seeking the novel and unfamiliar
3. Curiosity
4. Open-mindedness
5. Embracing diversity by leveraging differences

Whether you want to inspire others to action, build a business, or build more meaningful relationships, Rebel Talent will show you how to succeed — by breaking all the rules. Watch Dr. Gino’s full presentation here.

Also in this week’s Flash

• Challenges Faced by Young Entrepreneurs and Steps to Overcome This (Entrepreneur)
• How to Make Lifting Up Young Entrepreneurs Your Legacy (Forbes)
• 10 Expert Tips for Ensuring Future Small Business Success (Small Business Trends)
• New Study Reveals Entrepreneurs Need More Mentoring (Forbes)

The post Founders Flash: Learn The Five Characteristics All Rebels Share appeared first on Founders Workbench.

In this issue of the Flash, we are define three types of vesting terms every entrepreneur should understand. For more key terms, please check out our Deal Dictionary which is designed to help entrepreneurs understand the jargon that comes up in discussions with investors and legal counsel.

#1 Vesting (Right of Repurchase)
Vesting is the method of tying equity ownership to time served with the company. The most common vesting terms for employees is when 25% of equity vests after 1 year of service (often referred to as a “one-year cliff”), and the remainder vests monthly in equal installments over the next three years. Founders will often have different vesting schedules to reflect their early commitment to the company and higher level of involvement. A “Right of Repurchase” is the way vesting is implemented when founders or employees purchase or are granted stock (rather than options). In that case, the person “owns” and can vote all of the stock, but the stock is subject to the company’s right to buy it back at the purchase price when the person’s service to the company ends (subject to any acceleration provisions), and that right lapses at the rate of the vesting schedule (i.e. when the person is not vested at all, the company can buy back all of the shares, and when the person is fully vested, the company cannot buy back any shares).

#2 Double Trigger Vesting Acceleration
This is a type of accelerated Vesting that causes all or a portion of the shares to be deemed Vested upon the occurrence of a combination of two events, which are typically (1) a Change of Control and (2) an involuntary termination (customarily defined as termination without cause or a resignation caused by events/circumstances that essentially forced the person to resign) within some period after that Change of Control. Full acceleration pursuant to this version of vesting acceleration is generally acceptable to investors.

#3 Single Trigger Vesting Acceleration
This is a type of accelerated Vesting that causes all or a portion of a person’s shares to be deemed Vested upon the occurrence of a single event, which is typically (1) a Change of Control and/or (2) an involuntary termination (customarily defined as termination without cause or a resignation caused by events/circumstances that essentially forced the person to resign).

Also in this week’s Flash:

• The Biggest Mistake Entrepreneurs Make? Believing That They’re ‘Irreplaceable.’ ( Entrepreneur)
• Why Female Founders Pay Themselves Less Than Male Entrepreneurs (Inc.)
• Blockchain Startups In Israel Have Tripled: Why Israel Can Become A Leading Blockchain Nation (Forbes)
• The Startup Inspiring Teens Into Tech Entrepreneurship (Forbes)

The post Founders Flash: Key Vesting Terms Every Entrepreneur Should Know appeared first on Founders Workbench.

In this issue of the Flash, partner William Stern and associate Alexander Callen address key considerations to keep in mind when deciding whether to operate through a bank charter.

Also in this week’s Flash:

• Why Entrepreneurs Will Turn To The Crowd For Funding (Forbes)
• The 8 P’s Of Entrepreneurship (Forbes)
• Age And Entrepreneurship: Research Shows Average Age Of Successful Founders Is Older Than You Think (Forbes)
• Entrepreneurs Are Not Born, They’re Made

The post Founders Flash: Benefits of Operating Through a Bank Charter and Charter Choice Considerations appeared first on Founders Workbench.

In this issue of the Flash, we outline three strategies for entrepreneurs to win VC investments:

1. Know your market and your competitors.
2. Improve the bottom line.
3. Do your due diligence.

Also in this week’s Flash:

• Why Entrepreneurs Will Turn To The Crowd For Funding
• 9 Ways Successful Entrepreneurs Spend Their Weekends
• 5 Organizations Helping Women Entrepreneurs Around the World
• Why Early-Stage Founders are Heading to Disrupt Berlin 2018

The post Founders Flash: Three Strategies for Entrepreneurs to Win VC Investments appeared first on Founders Workbench.

In this issue of the Flash, Goodwin Counsel Glynn Barwick outlines what you need to know about Brexit: transitional arrangements, temporary permissions regime, overseas persons exclusion and the situation in other EU states.

Also in this week’s Flash:

• • 6 Best Ways Leaders Can Inspire Their Teams (Small Biz trends)
  • What Small Businesses Can Expect From Brexit (Entrepreneur)
  • How 3 Women Are Changing The Face Of Entrepreneurship (Forbes)
  • Why You Should Apply Entrepreneurial Thinking to Every Big Decision You Make (INC.

The post Founders Flash: What You Need To Know About Brexit appeared first on Founders Workbench.

One thing is for sure, it’s important to have a diverse set of skills for the many roles you will undertake. What skills do you have that sets you apart from others?

In this issue of the Flash, we outline key skills of an entrepreneur.

1. The capacity for teamwork and the ability to adapt to new situations.
2. The ability to turn problem-solving ideas into action.
3. Creative thinking, formulation, decision-making and initiative.

Also in this week’s Flash:

• Startup Nation? Entrepreneurs Still Toil in Macron’s France (Bloomberg)
• The Ideal Team For A Female Entrepreneur (Forbes)
• The Significance Of Startup Acceleration In Developing Economies (Entrepreneur)
• Savvy Startups Like Casper and Brandless Are Investing in Brand Image First — and You Should, Too (Entrepreneur)

The post Founders Flash: Three Skills Every Entrepreneur Should Master appeared first on Founders Workbench.

In the United States, cannabis is legal under state law for medical use in 30 states plus the District of Columbia, and for general adult recreational use in 9 states and the District of Columbia. But, at present, cannabis remains illegal under federal law. The tension, indeed the outright conflict, between state and federal law regarding marijuana creates both opportunities and risks for current and prospective operators and investors in the cannabis industry.

This issue of the Flash is dedicated to entrepreneurs who are pursuing this new niche sector. Watch Steve Hoffman, the Chairman of the Massachusetts Cannabis Control Commission and Goodwin partner and co-founder of Goodwin’s Cannabis practice, David Apfel share insights during a wide-ranging “fireside chat” about cannabis laws and the work of the Commission.  

Also in this week’s Flash:

• Pay Gap? For Women at Startups, the Equity Gap is Worse (The Wall Street Journal)
• 6 Learnings being an Entrepreneur (Forbes)
• The hottest startups in London (Wired)
• What Startups Can Learn From Their Elders (Fortune)

The post Founders Flash: What You Need To Know About Entrepreneurship In The Cannabis Industry appeared first on Founders Workbench.

In this issue of the flash, we share insights from PropTech practice co-leaders Minta Kay and Salil Gandhi.

“Our real estate clients recognize that technology is fundamentally changing how properties are designed, built, and managed, while our technology clients are at the vanguard of product development that is attractive to real estate owners, investors, and developers. We are excited to be at the forefront of this emerging and vibrant sector.” – Minta Kay, Chair of Goodwin’s Real Estate Industry group.

“As part of the wider digital transformation, venture investors have shown their interest in real estate technology and PropTech companies by deploying over $1.7 billion into the market in 2017, a 70% growth from 2016.” – Salil Gandhi, partner in Goodwin’s Technology group.

Also in this week’s Flash:

• Like Founders, Like Parents: 10 Reasons Why A Startup Feels Like A Baby (Forbes)
• 3 Ways to Encourage Your Staff to Think Like Entrepreneurs (Entrepreneur)
• Seven Successful Entrepreneurs Share Their Best Business Tips (Forbes)
• LinkedIn’s 50 Best Startups To Work For In 2018 (Forbes)

The post Founders Flash: Goodwin Launches PropTech Practice appeared first on Founders Workbench.

In this issue of the Flash, we are giving you five books all entrepreneurs should read.

And here are a couple of other interesting articles you might want to read this week:

• How not to Complicate – Keeping Entrepreneurship Simple (Entrepreneur)
• Be Your Own Boss: Women Entrepreneurs Share Their Success Stories ( Inc.)
• 7 Ways For Entrepreneurs To Find Investors And Raise Millions (Forbes)
• 4 Tips to Improve Your Leadership Skill (Entrepreneur)

The post Top Five Books For Entrepreneurs appeared first on Founders Workbench.

In this issue of the Flash, we are defining five basic legal startup key terms every entrepreneur should know. For more key terms, please check out our Deal Dictionary which is designed to help entrepreneurs understand the jargon that comes up in discussions with investors and legal counsel.

#1 Bylaws

This is a constitutional document for the company (but subordinate to the certificate of incorporation) and generally sets out the procedural rules that govern the company.  Bylaws typically regulate the rules and procedures of director elections, board and stockholder meetings, officer appointments and their roles and responsibilities, and similar matters.

#2 Demand Registration Rights

This is a standard right given to investors in priced-round investments (i.e. investment raised through the sale of preferred stock, not convertible Promissory Notes).  This entitles investors to demand, subject to certain requirements (e.g. investors demanding this have to hold a minimum percentage of shares), that the company register some shares of stock for a public offering, which facilitates the ability of the investor to liquidate some/all of its holdings.

#3 Investors’ Rights Agreement

An agreement (typically put in place in connection with the company’s first seed or series A round) that sets forth certain customary rights of investors, such as Pre-emptive Rights, Registration Rights, rights to obtain financial statements of the company and other information rights.  This agreement will also typically include covenants by the company to do certain things, such as obtaining Key Person Insurance on the lives of its founders and insurance for the directors and officers of the company.

#4 Piggy-Back Registration Rights

This is a right typically given to investors alongside Demand Registration and S-3 Registration Rights.  Piggy-Back Registration Rights entitle investors to have their shares included with any shares the company itself wants to sell and register for public sale (hence, the investors can sell their shares to the public by “piggy-backing” on top of the company’s public offering).

#5 Proprietary Information and Inventions Agreement

The agreement employees of a company sign agreeing to assign the intellectual property created by that employee to the Company.

Also in this week’s Flash:

8 Productivity Tips for Entrepreneurs With Kids Waiting for Them to Get Home (Entrepreneur)

Why New Entrepreneurs Could Consider Fintech as a Sweet Spot (Entrepreneur)

25 Machine Learning Startups To Watch In 2018 (Forbes)

Mind The GAAP: How Rising Startups Can Protect Shareholder Value And Mitigate Dilution (Forbes)

The post Founders Flash: Key Entrepreneurship Terms To Help Your Startup Survive appeared first on Founders Workbench.

In this issue of the flash, we discuss how Goodwin worked with Diversity Lab to achieve Diversity Lab’s Mansfield Certification after completing the inaugural one-year Mansfield Rule pilot. The pioneering initiative aims to boost the representation of diverse lawyers in law firm leadership by broadening the pool of candidates considered for these opportunities. Goodwin looks forward to continuing its partnership with Diversity Lab to help develop Mansfield Rule 2.0.

“Achieving Mansfield Certification highlights Goodwin’s commitment to promoting a diverse and inclusive workplace,” said David Hashmall, Chairman of Goodwin and head of the firm’s Inclusion Advisory Committee.

Also, in this week’s Flash:

• Why Entrepreneurs Cannot Afford to Neglect Their “Content” (Entrepreneur)
• 6 Ways Women Entrepreneurs Can Leapfrog Past $1 Million In Revenue (Forbes)
• When’s the Best Time to Set Goals as an Entrepreneur? (Forbes)
• Mark Cuban Says This Is the 1 Mistake New Entrepreneurs Always Make (Inc.)

The post The Importance Of Achieving Inclusive Leadership Inside Your Startup appeared first on Founders Workbench.

Navigating the securities laws, and defining the best vehicle to do so while understanding the full scope of a Reg. A offering can be crucial components for startups exploring this new technology to grasp.

In this issue of the Flash, Digital Currency + Blockchain Technology Partner, Mark Schonberger, discusses how he began working in this space, how companies are using ICOs to raise money, and where he thinks things could be heading.

Also in this week’s Flash:

• Five Things Entrepreneurs Must Keep In Mind When Fundraising (Forbes)
• Why Technology Is Important To Entrepreneurs Today (Entrepreneur)
• Meet the New Bosses: How These Entrepreneurs Under 20 Are Changing Industries  (Entrepreneur)
• Four New Podcasts for Entrepreneurs (Forbes)

The post Founders Flash: Blockchain Bolsters Fundraising Options For Startups appeared first on Founders Workbench.

In this issue of the Flash, we are defining five key terms every entrepreneur should be familiar with before meeting with investors. For more key terms, please check out our Deal Dictionary which is designed to help entrepreneurs understand the jargon that comes up in discussions with investors and legal counsel.

#1 Bylaws
This is a constitutional document for the company (but subordinate to the certificate of incorporation) and generally sets out the procedural rules that govern the company. Bylaws typically regulate the rules and procedures of director elections, board and stockholder meetings, officer appointments and their roles and responsibilities, and similar matters.

#2 Change of Control
This generally occurs when a company is acquired by or merged into another entity, or when a majority of the voting power of the company changes hands.

#3 Full Ratchet
This is a form of a price-based Anti-dilution Provision that is most aggressive (in favor of the investors) in balancing against the dilution caused by the issuance of stock at a price lower than existing preferred stock. It adjusts the conversion ratio of the existing preferred stock (that was sold for more than the stock being sold now) so that such stock retains the same percentage on an as-converted basis as it did before the issuance.

#4 No Shop Provision
A provision in term sheets that prohibits the company that is being invested in from shopping the deal around to other investors. Also referred to as an “exclusivity” provision. Depending on deal dynamics and who has leverage, the No Shop typically ranges from 30-45 days, and occasionally, a No Shop is not included in the term sheet.

#5 Warrant Coverage Amount
In some financing deals involving convertible Promissory Notes, investors will ask for warrants exercisable for shares of a series of the company’s preferred stock (or if none exist, then shares of the next series of preferred stock to be issued by the company or common stock). The number of shares the warrant is exercisable for will usually be expressed as a percentage of the amount of the investment (i.e. the principal amount of a Promissory Note) divided by the exercise price (the purchase price) of the underlying stock.

Also in this week’s Flash:

• 10 European startups making big waves in the travel industry (EU-Startups)
• 4 Fundamentals to Successfully Jump-Start Your Startup (Entrepreneur)
• What Are Some Good Resources For Women Entrepreneurs? (Forbes)
• Top 10 Startup Accelerators Based On Successful Exits (Forbes)

The post Founders Flash: Key Terms Every Entrepreneur Must Know Before Meeting With Investors appeared first on Founders Workbench.

Goodwin co-hosted a full day workshop entitled “Startup Exit Masterclass” with SOSV/ HAX. The workshop brought the New York startup community together and featured advice from startup CEOS, corporate buyers, bankers, investors, and Goodwin technology partners Ian Engstrand and Salil Gandhi.

In this issue of the Flash, we highlight three key takeaways from TechCrunch’s article “What Every Startup Founder Should Know” by HAX’s Benjamin Joffe.

1. Maximize optionality
2. Companies are bought, not sold
3. Understand how M&As work

Also in this week’s Flash:

• Powerful Mental Health Hacks for Entrepreneurs (Influencive)
• Tech Solutions For The Six Most Common Mistakes Entrepreneurs Make (Forbes)
• These Founders Are Making Silicon Valley Borderless For Immigrant Entrepreneurs (Forbes)
• 6 Ways Entrepreneurs Can Make Their Lives Easier and Avoid Burnout (Entrepreneur)

The post Founders Flash: Understanding Startup Exit Paths appeared first on Founders Workbench.

In this issue of the Flash, we highlight Goodwin’s panel discussion featuring top privacy and cybersecurity experts – including Bruno Gencarelli, Head of International Data Flows and Protection for the European Commission, and Stephen McCartney, EU Director of Privacy for Pearson plc, along with members of Goodwin’s global Privacy + Cybersecurity team.

Also in this week’s Flash:

• You Should Spend 70 Percent of Your Time Doing Hard Things, Says This 5-Time Entrepreneur (Inc.)
• What To Be An Entrepreneur? You Need These Skills (Entrepreneur)
• AI in Startups (Forbes)
• The 3 Words That Define a Business Owner’s Success (Entrepreneur)

The post Founders Flash: The GDPR and Startups appeared first on Founders Workbench.

In this issue of the Flash, we are defining five key terms every entrepreneur should know. For more key terms, please check out our Deal Dictionary which is designed to help entrepreneurs understand the jargon that comes up in discussions with investors and legal counsel.

#1 Double Trigger Vesting Acceleration
This is a type of accelerated Vesting that causes all or a portion of the shares to be deemed Vested upon the occurrence of a combination of two events, which are typically (1) a Change of Control and (2) an involuntary termination (customarily defined as termination without cause or a resignation caused by events/circumstances that essentially forced the person to resign) within some period after that Change of Control. Full acceleration pursuant to this version of vesting acceleration is generally acceptable to investors.

#2 Key Person Insurance
Life insurance on one or more “key person(s)” to a company’s future success (usually a founder, current CEO or lead technical employee). This is sometimes required by investors as a condition to an investment in the Company. The proceeds of the life insurance are typically payable to the company.

#3 Piggy-Back Registration Rights
This is a right typically given to investors alongside Demand Registration and S-3 Registration Rights. Piggy-Back Registration Rights entitle investors to have their shares included with any shares the company itself wants to sell and register for public sale (hence, the investors can sell their shares to the public by “piggy-backing” on top of the company’s public offering).

#4 Post-Money Valuation
The valuation of the Company after the investors have made their investment. Typically, this is just the Pre-Money Valuation plus the total amount of investment in the round.

#5 Qualified Financing (Next Equity Financing)
This is a term that is in Promissory Notes that are convertible into equity. It is often the trigger for the automatic conversion of the outstanding amount in the Promissory Note into equity, and this term will typically specify a minimum round size. For example, if a Qualified Financing is defined as one resulting in $1,000,000 of new cash proceeds to the company, if the company raises a new equity round of $2,000,000, the Promissory Notes would automatically convert, but not if the size of the raise in the new round was less than $1,000,000.

Also in this week’s Flash:

• Europe’s Start-Up Hotspots Revealed (Forbes)
• 6 Ways To Ask For Help As An Entrepreneur (Forbes)
• 9 Ways Successful Group Networking Empowers Women Entrepreneurs (Entrepreneur)
• The Senior Planet Course That Launches Entrepreneurs Over 60 (Forbes)

The post Founders Flash: Key Terms Every Entrepreneur Can’t Afford To Ignore appeared first on Founders Workbench.

During the panel discussion, Goodwin Technology partners Ian Engstrand and Salil Gandhi alongside Fenwick & West partner, Eli Curi, discussed the importance of getting a startup lawyer early on. Noting it is essential that both parties audition one another in order to form a successful partnership. The panel also covered trends in M&A activity, IPOs and addressed the sticky points in startup exits.

In this issue of the Flash, get a sneak peek into our Startup Exit Masterclass: The Lawyer’s View Panel below. Stay tuned for additional featured segments.

The post Startup Exit Masterclass: The Lawyer’s View Featuring Goodwin’s Ian Engstrand and Salil Gandhi appeared first on Founders Workbench.

In this issue of the Flash, we list four tips to help you prepare for taking time off this summer.

1. Don’t Wait For A “Good Time” To Go
2. Hire Outside Help
3. Start With A Staycation
4. Notify Key Contacts In Advance

• How to Know If You Have the Entrepreneur Gene (Forbes)
• 10 Fantasies Vs. Realities of Entrepreneurship (Entrepreneur)
• Best Pitch Decks: The Early Stage Pitch Decks Of The Hottest Funded Startups (Forbes)
• How to Know When That Business Idea Is Good Enough to Pursue (Entrepreneur)

The post Founders Flash: Summer Work-Life Balance Tips For Entrepreneurs appeared first on Founders Workbench.

In this issue of the Flash, we remind you that age is just a number. The best entrepreneurs are game changers, constantly challenging themselves by learning new skills. There is no “perfect” age for success in entrepreneurship. So what are you waiting for? Dive in!

• Here’s How Entrepreneurs Can Work Smartly For Success (Entrepreneur)
• Twenty Tips For Startup Success, Part Eleven: Embrace Competition (Forbes)
• Europe’s Newest Unicorn Is A Process-Mining Startup Founded By German Students (Quartz)
• 6 Unique Ways To Be A Better Learner Every Day (Forbes)

The post Founders Flash: Entrepreneurship Success At Any Age appeared first on Founders Workbench.

Successful European entrepreneurs voice the importance of acting global early-on, and call-to-action the differences between the European and U.S. startup worlds. Here is some key advice for Europe’s startups.

• European startups should not neglect the US market and Silicon Valley due to its overwhelming funding dominance. -Carlos Diaz , General Partner at San Francisco-based Seed Fund program The Refiners
• “Thinking globally also means thinking about where you will scale next, and how you will scale your business. Going global’ requires guidance as well as bravery.” — Professor Vikas Shah, CEO at Swiscot Group and Founder of Thought Economics

• London’s startups aim to avoid the mistakes of Silicon Valley (ZD Net)
• How To Be A Successful Digital Nomad ( Forbes)
• 1 Trait the Most Successful Startups Have in Common–It’s Got Nothing to Do With Funding (Inc.)
• How women entrepreneurs can get the most out of crowdfunding (MarketWatch)

The post Founders Flash: How To Think Globally As An Entrepreneur appeared first on Founders Workbench.

In this issue of the Flash, and with Father’s Day around the corner, we couldn’t think of a better time to outline four key risk-taking startup lessons learned from our parents. 

1. Understanding what risking everything really means
2. Planning for potential setbacks
3. Learning the balance of working hard and building a team that works for you
4. Staying close to the customer

• The 5 Gut-Check Questions Confronting Entrepreneurs Every Day (Entrepreneur)
• 8 Ways Women Entrepreneurs Can Use Crowdfunding Successfully (Forbes)
• 4 Key Steps: This Is How Successful Entrepreneurs Pitch Their Startups (Inc.)
• How The Best Entrepreneurs Scale Their Startups For Growth (Forbes)

The post Founders Flash: Risk-Taking Startup Lessons Taught By Our Parents appeared first on Founders Workbench.

In this issue of the Flash, we highlight Success (And Survival) Tips For Aspiring Entrepreneurs in hopes of giving you the motivation and push you need to persevere.

1. Ask Yourself: Why Are You Becoming An Entrepreneur? – Define your motivation
2. Make The Most Of Your Mornings – Don’t snooze just because you are the boss.
3. Build The Right Team – As you scale, you will need to hire and learn to delegate.
4. Plan Out Every Day – Planning out your schedule decreases procrastination.
5. Take A Break – Avoid Entrepreneurial burnout.

• What Smart Entrepreneurs Know About Problem-Solving (Entrepreneur)
• 7 Inspiring Podcasts That Every Entrepreneur Should Listen to This Summer (Inc.)
• These 29 Boston Startups Raised More Than $635M in May (BOSTINNO)
• The Most Successful Entrepreneurs Are Just About Impossible To Misunderstand (Forbes)

The post Founders Flash: Why Are You Becoming An Entrepreneur? appeared first on Founders Workbench.

In this issue of the Flash, we are outlining key pitching tips to help you crush your next investor meeting.  

1. Know Your Stuff – Don’t forget, homework also includes knowing your competitor.
2. Prepare For Q&A – The last thing you want is to be caught off guard.
3. Less Is More – Keep the slides clean and easy to read.
4. Don’t Argue With Investors – Not every investor is going to agree with you.
5. Quit Exaggerating – Be careful about exaggerating when it comes to your company’s traction.
6. Non-Verbals Speak Volumes – Investors are paying attention to the delivery of your pitch.
7. Tell Your Story With Passion – Remember investors can sense if you have the passion and obsession to push through and build a company.

• How you can get people to take you seriously as a young entrepreneur (Fast Company)
• Seven Tips To Increase The Odds Of Tech Startup Success  ( Forbes)
• Five Essential Marketing Strategies For Any Startup (Forbes)
• The 2 Mistakes Almost All Entrepreneurs Make When Planning for Growth (Inc.)

The post Founders Flash: The Art To A Great Pitch appeared first on Founders Workbench.

The post VIDEO: New York Angels Chairman Brian Cohen Discusses Smart Financing For Entrepreneurs appeared first on Founders Workbench.

In this issue of the Flash, CEOs from CNBC’s Top 50 Disruptor Companies lend wisdom and share insights on how to handle scaling challenges:

“Overnight success is a 15-year-plus journey. Make the right decisions for the long term.” – Jenn Hyman, co-founder and CEO, Rent the Runway

“It can be easy to get caught up in growth when you’re trying to scale, but it’s important to think beyond the numbers and outline your long-term vision. Enduring companies must not only do what’s good for shareholders but also what’s good for society.” – Airbnb CEO, Brian Chesky

“Always take skill set and culture fit into account,” –  Thinx CEO, Maria Molland Selby

• It’s Only Failure If You Go Home: Lessons From A Serial Entrepreneur ( Forbes)
• 6 Ways to Setup a Structure for Entrepreneurship (Entrepreneur)
• 18 Newsletters That Will Make You A Better Entrepreneur (Forbes)
• What is a Stealth Startup and Should Your Small Business Be One? (Small Business Trends)

The post Founders Flash: Wisdom From Top Start-up Disrupters appeared first on Founders Workbench.

When setting your career goals, you must take a methodical approach and be as detailed as possible with your objectives. Specificity gives you focus, empowering you with the self-belief needed to bring your visions to fruition.

In this issue of the Flash, we share six reasons why concrete goals are essential to entrepreneurial success:

1. They Keep You Motivated
2. You’re More Likely To Achieve Specific Goals
3. You Can Break Big Goals Into Mini Goals
4. You Can Adjust As Needed
5. They Will Make You More Confident
6. They Will Make You More Ambitious

• This woman coaches tech entrepreneurs — here’s the lesson for getting funded she thinks everyone should learn (Business Insider)
• NFIB: A ‘record level’ of small businesses are growing their profits (The Washington Post)
• 4 CRM Hacks Every Entrepreneur Should Be Using (Entrepreneur)
• To Innovate Like a Startup, Make Decisions Like VCs Do (Harvard Business Review)

The post Founders Flash: Here’s Why Concrete Goals Are Essential To Entrepreneurial Success appeared first on Founders Workbench.

In this issue of the Flash, we list five critical elements that every startup should look for in a mentor:

1. Industry/Knowledge
2. Entrepreneurs
3. Network Effects
4. Chemistry
5. Visionary and Problem Solver

• The 7 Biggest Appointment Making Mistakes Your Small Business Can Easily Avoid (Small Business Trends)
• Four Business Challenges All Entrepreneurs Face (Business 2 Community)
• 16 startup founders share their best advice for aspiring entrepreneur (Business Insider)
• All Business – 18 Newsletters That Will Make You a Better Entrepreneur (All Business)

The post Founders Flash: What To Look For In A Great Startup Mentor appeared first on Founders Workbench.

In this issue of the Flash, we outline seven leadership skills every entrepreneur must learn.

1. How to build a support network
2. How to recruit and retain talent
3. How to delegate
4. How to relinquish control
5. How to set out a vision
6. How to read the numbers
7. How to read the numbers

• Seven Leadership Skills Every Entrepreneur Must Learn (Forbes)
• Embrace the Chaos: How to Become the Best Entrepreneur You Can Be (AlleyWatch)
• 5 Things Founders Often Overlook That Can Kill Their Startup (All Business)
• Here’s Why Philanthropy Could Be Your Biggest Opportunity (Influencive)

The post Founders Flash: Seven Leadership Skills Entrepreneurs Should Learn appeared first on Founders Workbench.

The post VIDEO: COO Of Piaggio Fast Forward Sasha Hoffman Discusses The Importance Of Retaining Top Talent appeared first on Founders Workbench.

In this issue of the Flash, we share eight things entrepreneurs can do differently to attain success.

1. Be 100% Focused On The Client
2. Expand The Network, And Make The Right Connections
3. Have A Vision Statement And Stick To It
4. Mind What You Consume And How Much
5. Take Time To Listen
6. Vet Your Investors
7. Consider All Options
8. Go With Your Gut

• Retirement Planning for Small Business Owners (Business2Community)
• 8 common mistakes startup founders make, according to former executives at Facebook and Foursquare (Business Insider)
• Want to Invest in an ICO in 2018? Here’s All You Need to Know (Entrepreneur)

The post Founders Flash: How To Attain Entrepreneurship Success appeared first on Founders Workbench.

In this issue of the Flash, we share five inspirational tips to help you avoid the common mistakes new entrepreneurs face:

1. Be organized, and ask for help
2. Don’t rely on other people’s opinion too much
3. Put yourself first for your business to thrive
4. Do things for yourself, not others
5. Trust your gut when hiring

• Six Entrepreneurial Mistakes You Need To Know About (Forbes)
• Develop These 3 Leadership Skills Before You Really Need To Use Them (Fast Company)
• These 4 Marketing Mistakes Could Cost Your Startup Big Bucks (Business2Community)
• 4 Mistakes to Avoid which are Hurting your Small Business (Small Business Trends)

The post Founders Flash: Top Mistakes New Founders Make appeared first on Founders Workbench.

If you’ve been out of the social loop, it’s time to jump back in.

In this issue of the Flash, we outline five ways every small business can get its social media presence up to speed: create a strategy, establish the right social media platforms for your business, keep your brand consistent, analyze and track process, and most importantly keep an eye on the competition.

• Do You Have What It Takes To Be An Entrepreneur? 6 Questions To Ask Yourself (Forbes)
• 5 Ways Every Small Business Can Get Its Social Media Presence Up to Speed (Business2Community)
• How to Let an Influencer Influence You (Influencive)
• 7 entrepreneurship money management tips you should keep in mind (Born2Invest)
• 8 Steps for the Perfect Product Launch (Entrepreneur)

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The post VIDEO: David Chang, CEO & Co-Founder Of Personal VC, Discusses Overcoming Obstacles For First-Time Founders appeared first on Founders Workbench.

In this issue of the Flash, we put emphasis on emotional intelligence by shedding light on these top eight critical leadership characteristics for entrepreneurs: clarity, drive, courage, authenticity, empathy, empowerment, integrity and humility.

• 8 critical characteristics of entrepreneurs (The Business Journals)
• 4 of These 5 Failed Startups Had This in Common (Business2Community)
• How Cryptocurrency Will Transform the Future of Business (Influencive)
• 10 Tips For Busy Entrepreneurs Who Want To Organize Their Work From Home and Travel Lives (Forbes)
• 3 common myths about what it takes to succeed in entrepreneurship (Ladders)

The post Founders Flash: What Characteristics Define a Great Leader or Entrepreneur? appeared first on Founders Workbench.

In this issue of the Flash, we discuss five crucial leadership principles for female entrepreneurs.

• Five crucial leadership principles for female entrepreneurs (The Hampton Roads Business Journal)
• How Entrepreneurs Can Raise Local Awareness for Their Businesses (Business2Community)
• Why Most Startups Fail (and How You Can Avoid It) (Business.com)
• 15 Effective Ways to Improve Your Team’s Motivation (Influencive)

The post Founders Flash: Five Crucial Leadership Principles For Female Entrepreneurs appeared first on Founders Workbench.

The post VIDEO: COO Of Piaggio Fast Forward Sasha Hoffman Discusses The Importance Of Mentorship appeared first on Founders Workbench.

• Innovation and Disruption: Investing in the Real Estate Industry (Goodwin)
• Building Success: Seven Things Entrepreneurs Need To Know (Forbes)
• The 10 Things You Must Do From Day One So Your Startup Thrives (SFGate)
• Top 5 Ways of Getting Employee Appreciation Right (Business2Community)
• Determining Whether or Not Now Is the Time to Sell Your Company (AlleyWatch)

The post Founders Flash: Innovation and Disruption: Investing in the Real Estate Industry appeared first on Founders Workbench.

In this issue of Founders Flash, we discuss Why Women Have What It Takes For Entrepreneurial Success.

• Women Entrepreneurs Are More Likely to Get Funding If They Emphasize Their Social Mission (Harvard Business Review)
• Why Women Have What It Takes For Entrepreneurial Success (Forbes)
• MSN – Why Investing in Women-led Startups Is the Smart Move (MSN)
• These 5 Barriers Prevent You From Being a Better Leader. Here’s What to Do Differently (Inc.)

The post Founders Flash: Celebrating Women Entrepreneurs appeared first on Founders Workbench.

In this issue of Founders Flash, we uncover 5 Things Great Social Entrepreneurs Do Differently.

• Why Kindness Takes Entrepreneurs Further Than Knowledge Ever Could (Influencive)
• Knowing the (Right) Customer (Inc.)
• How to pick the right option for financing your start-up (The Business Journals)
• How Financial Planning Differs for Entrepreneurs (Investopedia)

The post Founders Flash: The Art Of Becoming A Social Entrepreneur appeared first on Founders Workbench.

The post VIDEO: COO Of Piaggio Fast Forward Sasha Hoffman Talks About Creating A Culture of Inclusiveness And Positivity appeared first on Founders Workbench.

In this issue of Founder’s Flash, CB Insights breaks down the top 20 reasons for startup failure by analyzing 101 startup failure post-mortems. Read the full report here.

• 7 Mistakes Every Entrepreneur Can Learn From (Forbes)
• Success Rate: What Percentage of Businesses Fail in Their First Year? (USA Today)
• Why Some Startups Succeed (and Why Most Fail) (Entrepreneur)
• 7 Ways You Can Succeed as an Entrepreneur Today (Forbes)

The post Founders Flash: The Top 20 Reasons Startups Are Unsuccessful appeared first on Founders Workbench.

In this issue of Founder’s Flash, we’re sharing secrets and lessons from successful entrepreneurs to help you confidently continue on your journey.

• 10 CEO Secrets to Launching a Million-Dollar Startup (Reader’s Digest)
• The Startup Lessons These Entrepreneurs Learned In 2017 For Success In 2018 ( Forbes)
• Essentials of personal branding from the world of Gary Vaynerchuk (Your Story)
•  Mark Cuban reveals 3 secrets for growing a successful business (CNBC)

The post Founders Flash: Secrets To Becoming A Successful Entrepreneur appeared first on Founders Workbench.

In this issue of Founders Flash, Goodwin partner Luciana Aquino-Hagedorn and associate Dennis O’Reilly introduce features of benefit corporations and what sets them apart from traditional business corporations via their latest article in Bloomberg’s Corporate Law and Accountability Report. The piece also highlights:

• How Benefit Corporation Statutes are Tied to Corporate Law
• The Three Pillars of Benefit Corporation Statutes
• Incorporation and Amendment of Organizational Documents
• Why Benefit Corporations Are Not the Same as Certified B Corporations
• Advantages and Disadvantages of Benefit Corporations

Read Bloomberg’s full Corporate Law & Accountability Report here.

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The NVCA recently released updates to its model documents (available here) that include a variety of changes.  As is typical for certificates of incorporation (or charters) of venture-backed companies, the NVCA model certificate of incorporation contains a laundry list of protective provisions that give investors an approval right over certain corporate actions. 

In response to the proliferating use of blockchain-related technologies and assets, cryptocurrencies, and token sales, including initial coin offerings (“ICOs”), by companies as an alternative fundraising method, the newly-updated NVCA model charter includes a broad protective provision prohibiting the Company from transacting in any digital tokens, cryptocurrency or other blockchain-based assets, including through a pre-sale, ICO, token distribution event or crowdfunding, or through the issuance of any instrument convertible into or exchangeable for tokens, without investor approval. The exact language is located in Section 3.3.5 of the updated NVCA model charter, available here.

The effect of this provision is to give the Company’s investors to the right to approve—or block—a venture-backed company from executing transactions involving tokens, cryptocurrencies or blockchain-based assets. Of course, the model provision may be negotiated and is optional. 

ICOs and similar transactions present a host of complex legal issues that founders should discuss with outside counsel.

The post Founders Alert: New Restriction Against Token Sales and Similar Transactions in the Updated NVCA Model Investment Documents appeared first on Founders Workbench.

• 3 Keys to Turning Your Side Gig into a Full-Blown Business (Business2Community)
• 5 Tips for Turning Your Creative Hobby into a Career (Artsy)
• John Maxwell’s:  Tips To Becoming A Better Entrepreneur And Leader (Forbes)
• 5 Steps to Handling Criticism and Becoming a Better Entrepreneur (Inc.)
• So You Want To Be Your Own Boss …(Entrepreneur)

The post Founders Flash: How To Turn Your Side Gig Into A Successful Business appeared first on Founders Workbench.

The post VIDEO: New York Angels Chairman Brian Cohen Talks About Mastering The Elevator Pitch appeared first on Founders Workbench.

• 6 Steps to the Perfect Pitch ( Entrepreneur)
• How to create a Captivating Elevator Pitch (Business.com)
• 3 Things To  Know Before Joining a Startup Accelerator (Forbes)
• Branding Yourself: How To Create a Great Elevator Pitch (Value Walk)

The post Founders Flash: How To Master Your Elevator Pitch appeared first on Founders Workbench.

• Don’t Fear Failure. It’s How You Get to the Right Answer (Entrepreneur)
• Six Business Mistakes Every New Entrepreneur Should Avoid (Forbes)
• 12 Ways to Overcome Small Business Failure and Thrive in Hard Times (The Balance)
• The Next 5 Things You Should do After a Business Failure (Small Business Trends)

The post Founders Flash: What To Do After A Business Failure appeared first on Founders Workbench.

The post VIDEO: David Chang, CEO & Co-Founder Of Personal VC, Discusses What It Takes To Be A Successful Founder appeared first on Founders Workbench.

• 12 Strengths That Will Help You Be A Better Leader (Forbes)
• How To Lead In 2018 (Fast Company)
• Six Smart Tips To Be A Better Leader (Business.com)
• Gary Vaynerchuk Serial Entrepreneur Fundamentals (Inc. Magazine)
• Be a Better Leader in 2018 by Doing These Three Things (Entrepreneur)

The post Founders Flash: How To Lead In 2018 appeared first on Founders Workbench.

The post VIDEO: COO of Piaggio Fast Forward Sasha Hoffman Discusses Diversity In The Workplace appeared first on Founders Workbench.

• How Small Businesses Can Integrate Machine Learning Into Their Model (Forbes)
• These 5 Factors will Change Your Approach to Startup Success (Small Business Trends)
• How Digital Entrepreneurs Approach Startup Life (Tech.co)
• In Just 2 Words, Sheryl Sandberg Said 1 Thing Separates Those Who Achieve From Those Who Only Dream (Inc.)
• 8 Women Entrepreneurs Who Inspired Me in 2017 (HuffPost)

The post Founders Flash: How can Small Businesses Leverage Machine Learning? appeared first on Founders Workbench.

The post VIDEO: New York Angels Chairman Brian Cohen Shares Where Investors are Most Interested appeared first on Founders Workbench.

• Building Effective Team Dynamics In Today’s Startup Environment (Forbes)
• 5 Ways to Build a Transparent Relationship With Your Investors (Tech.Co)
• This may be the selling opportunity of a lifetime for business owners (CNBC)
• How to BootStrap your New Business (EconoTimes)
• 10 Hottest Online Resources for Entrepreneurs in 2018 (HuffPost)

The post Founders Flash: What you Need to Know About Building Effective Team Dynamics appeared first on Founders Workbench.

The post VIDEO: Founders Workbench Advisory Member David Chang Talks Trends for Startups and More… appeared first on Founders Workbench.

Learn more about 3 hot content marketing trends in this issue of Founders Flash.

• Content Marketing Trends That Will Help Your Small Business Thrive In 2018 (Business2Community)
• Five Ways To Stay Motivated And Hit Your Business Goals (Forbes)
• How to Take Risks That Win (Almost) Every Time (Entrepreneur)
• The Changing Face of Entrepreneurship (Equities.com)
• Designing a home office that gets the job done while keeping family life in balance (The Washington Post)

The post Founders Flash: What you need to know about Content Marketing Trends in 2018 appeared first on Founders Workbench.

Learn more about Lori’s advice for female entrepreneurs in this issue of Founders Flash.

• An executive at a $3 trillion money manager shares her advice for female entrepreneurs (Business Insider)
• Small-Business Owners Expect to See Higher Revenues by the End of 2017, According to New Report (Inc.)
• Complacency Is The Enemy of Entrepreneurship (Tech.Co)
• Five Steps To Pivoting Into Entrepreneurship (Forbes)
• As Tech Start-Ups Mature, So Do Their Headquarters (The New York Times)

The post Founders Flash: Learn how venture competition program Project Entrepreneur is helping female entrepreneurs appeared first on Founders Workbench.

The post Video: Goodwin Partner Mitzi Chang Discusses Rules & Regulations with Startups on Cryptocurrency ICOs appeared first on Founders Workbench.

Learn more about how Kairos is helping the middle class in this issue of Founders Flash.

• The Funding Problem No One Talks Enough About — and What You Can Do (Entrepreneur)
• 5 Habits You Need to Drop Immediately For a Successful 2018 (Inc.)
• Global Health Challenges Offer Social Entrepreneurs Opportunity (Forbes)
• 9 Strategies for Operating Your Business During the Holidays (Tech.Co)
• Tech start-ups are not happy with this provision in the GOP’s tax reform plan (The Washington Post)

The post Founders Flash: The Funding Problem No One Talks Enough About — and What You Can Do appeared first on Founders Workbench.

Through the series, Jason covered a range of issues startups may face through its financial lifecycle including: the basics of SAFE notes and how they convert to equity with terms like discounts and valuation caps; how VC investors use pro rata terms to maintain their proportional ownership in a startup; and what happens when growth markers aren’t hit, and how anti-dilution protections come into play when a company raises a down round.

Read on to learn what happens when your startup embarks on a liquidity event.

• What Happens When You Sell Your Startup? (TechCrunch)
• 5 Ways to Grow and Build Trust (Entrepreneur)
• ICOs Are Raising Huge Amounts of Money for Startups. Here’s How They Stack Up Against Venture Capital (Inc.)
• 3 Tools to Help Entrepreneurs Find More Success Online (Tech.Co)
• 10 Signs Your Company Is Growing Too Quickly (Business2Community)

The post Founders Flash: What Happens When You Sell Your Startup? appeared first on Founders Workbench.

Once you have found a mentor, it is important to make the most of your time with he/she as most mentors are successful people who are also very busy. It is helpful to have a mentor to run ideas by or discuss issues you are facing running your company.

Learn more about how and why it is helpful to have a mentor in this issue of Founders Flash.

• My Best Advice For Entrepreneurs – Find A Mentor. This Is Why And How. (Forbes)
• 7 Apps That Every Entrepreneur Needs in Their Arsenal (TechCo)
• 3 Things You Need to Know About Adapting to Succeed In the Business World (Entrepreneur)
• The One Thing That Will Force Businesses To Care About Diversity (Fast Company)
• Something Extraordinary Is Happening in Blockchain and Cryptocurrency, and Most People Haven’t Noticed (Inc.)

The post Founders Flash: Why Should Every Entrepreneur Have a Mentor? appeared first on Founders Workbench.

YSI was founded by Maiuran Loganathan, a 19-year-old Norwegian entrepreneur who, in response to the 2015 United Nations Climate Change Conference, got inspired to bring his generation more actively into the conversation

At the end of the YSI conference, five teams of five entrepreneurs were prepared to present a fully-fledged proposal for a startup addressing one of the United Nations’ Sustainable Development Goals.

For example, one team is working with an MIT professor and the water tech company Xylem to develop a cost-effective filter; another is using mapping to address inequality in access to youth mental health services.

YSI organizers were careful to fill the teams with representatives from a variety of countries; one team, for example, has entrepreneurs from India, Vietnam, the Philippines, Italy, and Taiwan.

Learn about YSI and its annual conference, and more in this edition of Founders Flash.

• Young entrepreneurs are focusing their efforts on the sustainable development goals (Fast Company)
• You need some grit to grow a company (Tech Co.)
• Portugal is building a startup mega campus in Lisbon (Venture Beat)
• Closing the deal: savvy entrepreneurs share their secrets (Entrepreneur)
• Five incredible video marketing campaigns all businesses need to see (B2C)

The post Founders Flash: The Sustainable Entrepreneur Movement appeared first on Founders Workbench.

In Washington D.C., the city boasts a wide range of student-led ventures, including an app that lets you book time at on-campus fitness centers and a system that gives you personalized credit card advice.

As students prepare for a new year ahead, AmericanInno reached out to a handful of entrepreneurs who got their start on campus to see what resources they loved and what advice they wish they had going into their startups.

Here are a few things D.C. student entrepreneurs had to say:

• “The American University Incubator was a tremendous resource with mentorship, guidance and co-working space with fellow entrepreneurs.”
• “Reaching out to other entrepreneurs, finding mentors, making use of university incubator programs, going to events and networking, testing your idea and making sure you hone in on your market all are crucial.”
• “The Georgetown Entrepreneurship Initiative has supported us since this was just an idea with grants from pitch competitions, mentorship, free interns and access to MBA students.”
• “Protect your physical and mental health. Sleep more than you think you need to. Coffee is not a food group.”

Learn what D.C. student entrepreneurs have to say, and more in this edition of Founders Flash.

• The advice D.C. student entrepreneurs wish they had before their first venture (AmericanInno)
• 18 Secrets from CEOs whose companies won’t stop growing (Inc)
• The numbers say IPOs are more profitable than acquisitions (Venture Beat)
• ‘The New Hustle‘ explores what it’s really like to build a startup (Forbes)
• Millennials care more about work-life balance than career advancement (Tech Co.)

The post Founders Flash: Student Entrepreneurs Share Advice appeared first on Founders Workbench.

After years of facing procrastination situations, Joe realized two things: he’ll always be procrastinating on something, but, it isn’t really that bad.

When you procrastinate, he observed, you’re typically still doing something (rather than just being lazy); it’s just that you’re avoiding doing something else that you perceive to be more important. You may not have time for the new book you picked up, but it’s because you’ve been busy writing blog posts.

Follow “structured procrastination” to avoid the pitfalls of spending hours on social media or binging watch TV. Joe was able to successfully flip his to-do list around, learning that procrastination can be a productivity tool over the long haul.

Learn about structured procrastination, and more in this edition of Founders Flash.

• Here’s what happened to my to-do list when I embraced procrastination (Fast Company)
• Four crucial roles of artificial intelligence in entrepreneurship today (Entrepreneur)
• Social media marketing mistakes you need to avoid (Tech Co.)
• How to become a lady boss and show the glass ceiling who’s boss (Forbes)
• How important are patents and copyrights for startup founders? (Huffington Post)

The post Founders Flash: Is Procrastination Always Bad? appeared first on Founders Workbench.

1. Don’t call it a breach!
2. Have an incident response plan in place and follow it
3. Maintain attorney-client privilege on all communications
4. Stop the bleeding—ensure the security threat is over
5. Prepare communication plan for employees, customers, PR
6. Notify your insurance carrier early
7. Engage with law enforcement as appropriate
8. Determine/preserve facts—forensic firm engaged by counsel
9. Analyze any reporting/notification obligations (affected individuals, regulators, contractual)
10. Review policies/procedures and take any remedial action

Contact Brenda Sharton, Karen Neuman or David Kantrowitz for more information.

The post Is Your Data Safe? Learn Best Practices After A Security Incident appeared first on Founders Workbench.

We’ve all experienced one of those unpleasant networking events; they’re full of awkward introductions, forced interactions, and people just looking at their phones and counting down the minutes until it’s acceptable to leave.

But networking is evolving. Smaller events with tighter groups of people are demonstrating the new wave of connecting with your fellow professionals. For example, entrepreneurial boot camps and team bonding trips are emerging as popular methods to achieve networking goals.

So before you plan or attend your next networking event, ask yourself what you want to get out of it and how it can get you closer to achieving your goals. Don’t forget – not all networking opportunities need to be local. You should consider newer, more effective alternatives to networking that can take you and your business to unprecedented territories.

Learn more about the new wave of networking, and more in this edition of Founders Flash.

• Stop wasting your time at networking events. Consider these alternatives (Inc)
• Six successful dealmakers share their top tips on raising capital (Entrepreneur)
• Improving your startup ecosystem means understanding it (Forbes)
• Minneapolis hosts pitch competition for Somali entrepreneurs (Venture Beat)
• Five influencer marketing strategies for startups with no budget (B2C)

The post Founders Flash: The New Wave of Networking appeared first on Founders Workbench.

Goodwin partner Karen Neuman and associate Federica De Santis discuss a recent ruling by the European Court of Human Rights affirming the right of employers to monitor their employees’ online activities and electronic communications, subject to certain restrictions. The ruling is aligned with EU and member state law including the General Data Protection Regulation, as well as guidance on the topic issued by the Article 29 Working Party. Companies operating in countries that have agreed to be bound by the Council of Europe’s European Convention on Human Rights must comply with the decision and should review and update their employee monitoring policies and practices as warranted.

Read the full article.

The post In the News: Takeaways From the ECHR Employee Monitoring Decision appeared first on Founders Workbench.

Learn the latest on the changing landscape for immigration and get practical advice about how to get a visa to grow a business after you graduate from the pioneering Global Entrepreneur-in-Residence Program.

Register for the event: http://ow.ly/JtXI30fHgiF
Learn about Global Entrepreneur-in-Residence Program: http://vdc.umb.edu/geir/

The post Register: How International Entrepreneurs Can Get a Visa to Stay in Boston after Graduation appeared first on Founders Workbench.

Technology and startup publication Tech Co. asked eight entrepreneurs for advice on deciding between a business that they’re passionate about and a business they know will do well. The entrepreneurs shared how to prepare yourself for life as an entrepreneur, including measuring customers’ willingness to pay, having passion and sharpening your tools.

Read the entrepreneurs advice, and more in this edition of Founders Flash.

• How to rank in Google, according to an SEO guru (Inc)
• These female entrepreneurs created a fake male co-founder to work around sexism. How well it worked is incredibly eye opening. (Entrepreneur)
• The end of capitalism is already starting – if you know where to look (Fast Company)
• The best places to launch your app startup (Forbes)

The post Founders Flash: Thinking of Becoming an Entrepreneur? appeared first on Founders Workbench.

The steps you take after forming your business are critical to creating a solid legal foundation for your business. Luckily, SmallBiz Trends walks you through the 10 steps you need to take after incorporating or forming an LLC, including applying for trademark protection; prepping documentation to work with third parties; and getting business liability insurance coverage.

While the list may seem daunting to a first-time business owner, many of these steps can be done in minutes; you could even commit to tackling one task per day, and in less than two weeks, you’ll have a solid legal foundation for your business.

Learn the rest of the 10 steps, and more in this edition of Founders Flash.

• 10 things to do after incorporating or forming an LLC (SmallBiz Trends)
• Why I don’t trust most venture capitalists (Entrepreneur)
• How to lead a tech company with a non-technical background (Inc)
• 5 skills that can make you a better business leader (B2C)
• The abridged guide to pitching your startup (Forbes)

The post Founders Flash: Next Steps After Incorporating or Forming an LLC appeared first on Founders Workbench.

The scholarship-type program will give startups access to affordable marketing and sales software, startup education, and a community of founders. Whether you qualify for the program  or not, HubSpot for Startups also launched The Startup Scoop, where entrepreneurs speak to other entrepreneurs about startup trends and more.

In its first episode, Matt Benati, co-founder and CEO of LeadGnome, talks to HubSpot for Startups about creating a SaaS business. Matt introduces how he developed and found product market fit, how he executes customer acquisition (growth) by doing sales and marketing and finishes with advice to other startup founders.

Learn more about The Startup Scoop, and more in this edition of Founders Flash.

• HubSpot Launches The Startup Scoop: Episode 1 (Hubspot)
• The top schools for VC-backed entrepreneurs in Massachusetts (AmericanInno)
• Can a VC blacklist stop sexual harassment in Silicon Valley? (SiliconValley.com)
• 50 ways women entrepreneurs can fund their businesses (Entrepreneur)
• Talking intellectual property: how openly should entrepreneurs share their ideas? (Forbes)

The post Founders Flash: Interesting Conversations with Startups, About Startups appeared first on Founders Workbench.

So, how do you know when it’s the right time to apply to a program? Team size, prototypes and financing stage are all important factors to consider when thinking about applying to a program. But the experts agree – apply as early as you can.

Learn more about applying to an accelerator, and more in this edition of Founders Flash.

• When is the right time to apply to an accelerator? (Tech Co.)
• Crowdfunding disaster: a Silicon Valley startup takes customers’ money, shuts down (SiliconValley.com)
• 11 ways to involve employees in creating company culture (Huffington Post)
• These entrepreneurs are done waiting for Silicon Valley to close the racial wealth gap (Fast Company)
• Why you need to get out of your “idea bubble” before launching a product (Forbes)
• Pitching to Sharks: 7 ways to get the attention and respect of investors during a pitch (Entrepreneur)

The post Founders Flash: When to Apply to an Accelerator appeared first on Founders Workbench.

But for small or new companies, the risk can be much higher when you intersect business and politics; it could create a make-or-break situation that new entrepreneurs aren’t equipped to handle. 

On the other hand, speaking out on a meaningful issue may be well worth the risk, paying off by connecting the company more deeply to its customers and strengthening its reputation in the communities it serves.

If you’re thinking taking a stand on a hot-button issue, there are steps you should take first, including considering your goal and acknowledging the risk.

Learn more about assessing the risk of your small company speaking out, and more in this edition of Founders Flash.

• Should small businesses speak out on controversial topics? (Entrepreneur)
• Things that every startup should consider before the fundraising tide goes out (Tech Crunch)
• Debunking the myth of the overnight success (Forbes)
• 7 biotech ventures that made the cut for the Harvard Life Lab (AmericanInno)
• Entrepreneurs, here’s how to make the best use of your board (Venture Beat)

The post Founders Flash: Should Startups Take a Stand on Divisive Topics? appeared first on Founders Workbench.

The easiest – and most recommended – way to accomplish all of this is to hire a lawyer early.

For founders, taking a proactive approach to the legal side of the business, whether it be intellectual property, partnership agreements or initial investments, will be beneficial and cheaper in the long run.

Learn about protecting your intellectual property, and more in this edition of Founders Flash.

• Getting ahead of your legal affairs is the key to startup success (Tech Co.)
• Funding alternatives for women entrepreneurs (Fast Company)
• Reasons why managers need to think hard about the skills gap (Fortune)
• Why do fast-growing startups gather in a few cities? (Forbes)
• Eric Schmidt and Bill Maris are helping build a startup network in Southern California (Recode)

The post Founders Flash: Are Your (Legal) Affairs in Order? appeared first on Founders Workbench.

Lately, it seems that no matter the industry or target audience, podcasts have become marketers’ best tool to engage with consumers. But the same idea holds true for business-to-business marketing – and founders should take advantage.

Podcasts give entrepreneurs an opportunity to speak directly about their product or company, help share the company’s culture and share thought leadership about the industry.

While podcasts may seem simple and inexpensive, but a lot of thought and research goes into producing each sound bite. Recently, Entrepreneur shared tips and tricks to getting your first podcast started including where to start, what guests to feature, and (most importantly) how to create sales and make money.

• Video: Want to make a podcast? Here are some basics you need to know (Entrepreneur)
• 4 factors that foil accurate cash flow forecasts and how to fix them (Forbes)
• A disruptor’s guide to tackling regulated industries (Venture Beat)
• It’s 2017, and women still aren’t being funded equally (Tech Crunch)
• Four ways artificial intelligence is driving innovation in 2017 (Tech Co.)

The post Founders Flash: Learn How to Join the Podcast Craze appeared first on Founders Workbench.

Author and media strategist Ryan Holiday believes a startup cannot be successful without filling in this very basic sentence: “This is a _ that does_ for _.” In fact, many experts say “having no specific user in mind” is one of the major mistakes that kills startups.

Holiday explains that no company has a product or service that appeals to ‘everyone’; founders need to have a specific audience in mind before any planning starts. The company’s goals, potential products, fit within the market, strategy all should be based on that specific audience.

Learn about targeting the right audience, and more in this edition of Founders Flash.

• The questions almost no startup founders ask (Tech Crunch)
• Google spent 2 years studying 180 teams. The most successful ones shared these 5 traits (Inc.)
• Silicon Valley giants confront new walls in China (New York Times)
• My 400-person company has a great work culture, and we all work remotely (Fast Company)
• Venture capitalists are going barking mad for pet startups (Fortune)

The post Founders Flash: What is Your Target Audience? You Should Know. appeared first on Founders Workbench.

Concentrating on the formation and representation of venture capital, growth equity and private equity funds, O’Donnell’s practice also includes the representation of issuers and funds in public and private financing transactions. He focuses on all aspects of the formation and operation of domestic and international investment funds, including venture capital, private equity, fund of funds, secondary market, debt and a variety of other types of funds ranging from multibillion-dollar venture capital and leveraged buy-out funds to much smaller venture capital, angel, pledge and similar micro funds.

“More than a decade ago, we set out to become a global leader across the entire spectrum of private fund formation practice areas,” said David Watson, Chair of Goodwin’s Private Investment Funds practice.  “Since then, we have built a fund formation team of more than 100 lawyers, and we are excited that Ian is joining our practice.”

At Goodwin, O’Donnell reunites with his former colleagues and Goodwin’s Private Investment Funds partners Jonathan Axelrad, Rob Fore, Gerry Chacon and Brian McDaniel. “Re-joining Rob and Jonathan, and Jerry and Brian was clearly a great opportunity,” said O’Donnell. “Collectively, we have more than 100 years of practice in venture capital and private equity fund formation, and can provide our clients with unparalleled depth of experience.” 

“We are absolutely delighted that Ian is joining us at Goodwin,” said partner Jonathan Axelrad. “He was a wonderful colleague when we worked together previously, and it will be completely natural for him to be a colleague again.”  

“Ian epitomizes the standard of technically sophisticated, client-service-oriented lawyer that we seek in all practice areas,” said partner Rob Fore. “He shares our mutual vision of the future for private fund formation,” added partner Jerry Chacon.  

“Ian has an outstanding practice, which includes key industry players in both the U.S. and Asia,” said Hong Kong-based partner Brian McDaniel. “The synergies of his practice and ours will be immediate, and a great benefit to all of our clients.”

“The vast scope and caliber of Goodwin’s private funds practice were also a big draw for me,” added O’Donnell. “The firm excels in numerous industry practices including venture, private equity, real estate, hedge funds, debt financing and infrastructure, with experts in complementary areas, such as tax, Investment Advisers Act, ERISA, FOIA, FCPA, labor and employment, M&A and capital markets, and expertise in Europe and Asia as well. I will have access to everyone I need to give my clients best-in-class service and handle any circumstances that arise.”

“Ian’s focus on venture capital funds is particularly synergistic for us,” said Anthony McCusker, Chair of Goodwin’s Technology Companies practice. “We seek to be at the center of venture capital activity, from the earliest stages of a new company idea through IPO and beyond. Providing fund formation services to venture capital firms is a natural part of that process.”

O’Donnell received his J.D. from Georgetown University Law Center and his B.A. from Yale University. He is admitted to practice in New York and California.

He can be reached at iodonnell@goodwinlaw.com or 415.733.6161.

Goodwin’s Private Investment Funds practice handles every stage in the life cycle by providing fund managers with the sophisticated level of counsel required for forming, advising and operating private investment funds. Within fund formation, Goodwin takes a creative approach, starting with not only the specific objectives of a particular fund but also an assessment of how the fund fits within the client’s broader business goals. The team understands the issues specific to different types of funds and offers advice that comes from a wealth of experience across industries and global markets.

The post Leading Venture Capital Fund Formation Lawyer Ian O’Donnell Joins Goodwin in San Francisco appeared first on Founders Workbench.