by: Todd Nuckols
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by: Todd NuckolsOriginal Startup Weekend winner in September, proud members of 804RVA and now first class participants in Lighthouse, Speakeasy is on a roll after winning the 2nd i.e. Competition. It sure is fun to see a team develop and gain early recognition but I would not be the Managing Director of Lighthouse if I did not say, "The work is just beginning!" Now you can help them: Step 1: Go read more about Speakeasy and the competition Step 2: What restaurant owner do you know that needs better engagement with customers? Tell the team or tell the owner! Make sure you track down Rob, Joey, Jacques and Jon and give them a well deserved pat on the back! Congratulations team Speakeasy! by: Todd NuckolsI am often asked about the state of investment capital right here in RVA. Well, this is not an exhaustive list by any means but if you are thinking your startup needs a little money for equity support to change the world then hear are a few local organizations of interest (In alphabetical order). If I missed your favorite source of 'dollars & sense' inspiration in RVA please let me know with a quick comment and we will put them on the list! Remember looking for those seed and early stage givers first and foremost!
And just because I can...by: Larkin Garbee
As always, we are grateful to our sponsor, Blanchard's Coffee for providing all of our coworkers, night owls, and meetup groups with awesome coffee so that creativity and innovation can continue to flow through the minds of RVA. by: Larkin Garbee Are you working on a side project, startup, or building your portfolio? Do you want to meet other like minded people and be motivated by fellow makers, creatives, and innovators?
You don't have to be at 804RVA every single day to get the benefits - in fact, you can start coming after hours! Every Thursday after 6pm, 804RVA Night Owls is a fun & productive member-run working session for people that have full time jobs but want to work on a side project...as well as students and people who just prefer working after dark! Night Owls is included with any 804RVA membership, every Thursday, (including our $25/month basic membership). Yep, you can work at 804RVA 4 evenings a month for as little as $25 - plus you're plugged into the entire 804RVA community for discussions & events outside of Night Owls. If you're already an 804RVA member, just drop by. If you're not a member yet, sign up for a free pass and tour so we can help you get started! We'll be coworking from 6pm until midnight! Read to become a member?-- click HERE. To view our meetup page and see who is coming, click on the night owl pictured below: by: Todd NuckolsI know, you thought this blog post was going to be your key to capital. Well, yes and clearly no! First, let's talk about the variety of routes for your startup or growing business to obtain beautiful Benjamins in large quantities. Well feel free to dip your toe in the water and look at these quick options: Non-profit entity or a personal cause: You are looking at fundraising from individuals and friendly organizations. However, the magic word CROWDFUNDING now comes into play. Sites like Go Fund Me let you get personal. Better yet, local RVA startup Bonfire Funds gives you the chance to give your funders the chance to spread your brand and support your cause with the literal shirt on their back! And finally, if you simply need sponsors, well new sites like Sponsorfied may be able to help. High growth startup: You have an idea, a dream and a billion-dollar market all planned out then you may need to gather investors by handing out equity in your enterprise. This landscape is literally changing and new resources abound but before all of that you may want to seek wise advise (and that is probably not me)! Seek out this excellent text from the pros Brad Feld and Jason Mendelson in Venture Deals great stuff based on a compilation of blog post and years of experience! Properly armed you can now consider all kinds of options from local Fundroom (that is right here in RVA baby - nothing like the local touch!) to Angel List and Rock the Post. You may even consider given 804RVA's good friend Matt Rho who works for New Richmond Ventures a shout to get some face-to-face advice. You can find him during Open Office Hours as part of 804RVA's own Startup Concierge. That is free and convenient and he knows investing! Side note: About that crowdfunding stuff. Equity base crowdfunding does exist but be careful. New rules are being written by the national government right now that is going to change the equity/crowd game. Dramatic opportunity may be just around the corner? Got a product handy: Well, I am no pro but I think this is where crowdfunding as we know it in the press can be not only a handy marketing tool but a real way to generate funds. Why? Well your funding friends actually get something in the deal - your product. And often for a premium price because they just want to see it come to market. High profile deals on Kickstarter (the king of this space) are literally multi-million (see Pebble Watch). But in the end, know this about going for the cash. Like you see on Shark Tank, this is built on numbers, reality and (unlike on Shark Tank) often relationships. Go build a business, manage your metrics, and know how and when to ask. Realize that when you take on investors (other than your friends and family) you will have some explaining to do if you don't deliver on your dream! Funding is no small challenge and not to be taken lightly no matter the avenue. Even in crowdfunding, people may just not like your cause, product or mission and leave you short of your goal. It's still hard work no matter how you slice it! by: Todd NuckolsOk, I know someone who is affiliated with the Richmond Comedy Coalition so I am taking that as authority to spread the word about this unique event! It is always good to practice your pitch startup enthusiasts - even if you don't know what it is until you hit the stage? Essentially, 7 competitors will square off giving presentations based on decks they have never seen. For $5, that sounds like an event worth watching. And if you fancy yourself quick on your feet and an awesome presenter you can sign up to be on stage! Get all the details here. See you Saturday, March 30th! Good luck 'battlers'! by: Todd NuckolsIf you are in startup land, especially if you have dreams of taking down Facebook or Google, then you need to read this post from Danielle Morrill (no, really, go read it and then come back!) First, I love it when I see flat out practical advice and Danielle certainly dispenses some in this post. During my own journey of starting my own company, we knew after 8 months in the garage out of site it was time to come out of the shadows (where zombies live) and attack the market. Did it work out? Well, not exactly - but I am proud to say it did not become a zombie startup either. It's simple, in my mind anyway, "if you are not growing, then you are dying!" Given most founders passion and belief they can soldier on waiting for that viral moment, new funding or big fish client forever. But is that what you really want? So if you are thinking about starting (or are in the midst of working on) a high-growth startup then heed the zombie list offered by Danielle: How do you know if you startup is falling into this trap? Here are some hints: Look, no harm in acknowledging your zombie-like status. Normally it helps you get on with the next idea which will be the one that sets the market on fire and catapults you to super starter status!
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Larkin Garbee
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