Reid Hoffman is an Entrepreneur, Product Strategist and Investor. He is currently the partner of Greylock, Executive Chairman and Co-Founder of Linked In as well as much more. His focus ranges from product development, business operations to strong knowledge in young companies and their growth. Reid’s expertise is something that continues to grow with the innovation of online marketing as companies find new innovated ideas to stop one step ahead of their competitors. Greylock is a private equity firm, which Ried serves on the Zynga board. “James Slavet and I partner on Greylock's investments in Groupon and Coupons.com.” All of the companies we know so well and use in our every day life.
In an article Reid wrote for TechCrunch speaking how to develop a business plan. With ever changing technology and more consumers wanting information now as well as the Internet being a place to search for anything, Reid asks several important questions.
How will you reach a massive audience?
<! What is your unique value proposition?
Will your business be capital efficient?
All of these questions lead to keep a new business in a growing direction. Today’s audience is extremely large and being able to reach a large audience in the most effective manor is crucial. In addition, he asks what makes one’s new business stand out and have unique value? Why would one want to choose a new business over a long time standing business? In the end, will one have the cash flow? No business can survive without cash flow. One must ask themselves, will I make money?
I believe these are the top three questions a new business owner should think about. If all of these questions can be answered in a well thought out manor, then one’s business will be a success! Reid stays ahead of the curve and focuses on each ventures strengths individually, IE: Facebook, Linkin, keeping each audience separate, but yet open.
David Stock has started several companies, many which have gone public all before the age of 22 years old. He specializes in software technology and serves on numerous boards for a variety of companies. He has learned to stay in a company in when things are not looking on the bright side. David pushes through and with determination is an extremely successful investor.
Davids’s focuses on how investors value start up companies with eight key ideas. Of the eight the top three are:
<! Understanding how startups are valued
<! Identify your specific risks
Look for quick ways to Mitigate Risks before fundraising
Look for quick ways to Mitigate Risks before fundraising
David’s expertise is in lowering the risks as the value of one’s business increases. Set expectations that are realistic and obtainable. Many business ventures fail due to milestones not being met as they are set unrealistically.
“I have one final comment: success at raising money does not equal business success. I have generally found that it is far easier to raise money than it is to get paying customers. If you have just raised a round at a great valuation, don’t confuse this with real success in business. That only comes from selling your product to lots of customers!” David Stock http://www.360digitalartist.com/business-plans-experts/
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