Founders

We constantly hear about “product market fit.” But my post yesterday about The Power of Passion When Starting Your Company was about “founder market fit.” And I’ve come to believe that – especially among first time entrepreneurs – founder market fit is much more important than product market fit at the inception of the company. I stumbled on the phrase a few times over the past year and it’s been rolling around in my head a lot since. The first time was on Chris Dixon’s blog Founder / market fit which led me to a guest post by David Lee of SV Angel on More Thoughts on What Makes Great Entrepreneurs Great . ...

Today’s “founder hint of the day” is to create an email address called founders@yourcompanyname.com and have it automatically forward to all the founders of your company. I interact with a ton of companies every day. For the ones we have a direct investment in via Foundry Group, I know each of the founder’s names (although with 40 companies, at age 45 – almost 46, there are moments where I have to sit quietly and think hard to remember them.) For the TechStars companies, especially early in each cycle, I have trouble remembering everyone’s names until I’ve met them. And for many other companies I have an indirect investment in (via a VC fund I’m an investor in) or that I’m simply interacting with, I often can’t remember all of the founders names. ...

Finance Friday’s gets off the ground with today’s post by introducing you to an imaginary startup, the entrepreneurs that we’ll being following throughout the series, and their first challenges: splitting up the founders’ equity and addressing the case where one of the founders provides the initial seed capital for the business. We felt like we needed to put some groundwork in place using a case-study like approach, rather than just jumping into looking at balance sheets, income statements, and cash flow statements. Hopefully, by the time we are done, we’ll all have some new friends and a lot of knowledge. Let’s get started. ...

I was going to write a different post this morning, but I came across this post by Matt Haughey titled Ev’s assholishness is greatly exaggerated and, after reading it, sat for a few minutes and thought about it. Go read it now and come back. Welcome back. I’m not an investor in Twitter directly (I am indirectly in a tiny amount through several of the VC funds I’m an investor in) but I’m an enormous Twitter fan and user. I also wasn’t an investor in Odeo so, as the cliche goes, I don’t have a dog in the hunt. But I have a few friends who were so I have second hand knowledge about the dynamics around the Odeo to Twitter evolution. ...

In April I wrote a post about Rally acquiring AgileZen . I’ve been an investor in Rally from the very early days and am incredibly proud of what the team there has created. As I’ve written in the past, I encourage companies I’m an investor in to continually explore small acquisitions when entrepreneurs have created something that is on their roadmap. AgileZen was one such company and the acquisition has been a successful one for everyone. ...