Attract a Great Team to Rocket Your Ready-to-Launch Startup

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Your Team - Founders, CxOs, Directors, Advisors and Others
Towson Univ (MD) Student Launch Pad Startup Weekend*

Continuing our Startup 2.0™ Steps to “Rocket your Ready-to-Launch Startup,” from the Preliminaries and “Creating Superior Business Documentation” now to attracting additional Team members paid on future income. 

A strong Team will not only help your business become more successful, it will impress financial organizations and the other sources of capital.

 You have your core Management Team, generally Founders who are or will become CxOs, and perhaps some Advisors and candidates for a Board of Directors.   Additional Team Members are:

• CxOs – CEO, COO, CTO, CIO, CMO, CSO (Chief Sales/Science/Security Officer), CCO (Chief Capital/Creative Officer), CFO and CLO.  Some Founders have grown to realize that being CEO is not the best use of their time or talent – CTO, CIO or CMO could be better “positions.”  Finding and attracting the additional CxOs to round out the Management Team is not easy, but will create a stronger Team in the long run.
• Board of Directors, if wanted or required for your corporate structure, have fiduciary responsibility as do the CxOs. Don’t overwork your non-Founder and non-CxO Directors with meetings and other engagements. Ask only 2-4 hours per month to review, make constructive suggestions, encourage and promote to company, until opportunities demand more time.
• Advisors – as a Board or independent – typically do not have fiduciary exposure. Ask only 1-4 hours monthly.  These people are powerful additions to your Team.
• Others – Professionals (Attorney, Accountant, Bookkeeper), Partners, Coaches, Suppliers and Interns.
• Many of these Team Members are excellent CxO and Manager candidates.
• Show off names, pictures, summaries and online profile links of all your CxO-level Team in your Overview and Pitch Deck to show your powerful and deep “bench.”  Also add names and short summaries of your Manager-level and other Team members in your Business Plans – they’ll feel appreciated, and it further increases the size of your Team “bench.”

 There are many Creative Compensation Plans:

• CxOs – ramp up from stipend, to a bill-paying salary plus profit sharing via small ownership equivalent to $200K-$500K in 5th year – more if bring Capital, Intellectual Property or key/voluminous customers to the table.
• Non-employee Directors and Advisors – tiny ownership equivalent to $30K-$100K in 5th year.
• Others – reasonable fees or salaries, reduced by equity or profit sharing which could be more in the long run to off-set the waiting and risk.
• Overpaying, especially early on, is frowned upon by financial sources expecting their principal returned with a reasonable ROI or interest.
• All earn their stake as they participate over a period of time – six months to two years, depending on the ramp up of the company product or service.

 Where do you find excellent people?

• Networking: friends, family and associates; professional groups; social media – good way to let your social media friends know your expanding;  Meetup, such as Founders Lab;  LinkedIn – groups and individuals – see what they are saying in posts and comments (via their activity logs);  Google+, Twitter, etc – check groups/lists, activity logs, comments, likes and shares;  especially notice those looking for opportunities or asking to be on boards.
• Advertise on Craigslist, other free outlets and trade publications, all of which can give very good exposure.
• Recruiters may be necessary for critical positions.

More to come on the Startup 2.0™ Steps. 

Feedback and suggestions are always appreciated here, by message or email.

Thank you very much, Kenton, USA 302KentonJ
LinkedIn • BRIEF • TEAM & Aggregate Resume • Startups 2.0™ Meetup
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*Picture via LinkedIn article by Zachary Jones

Rocket your Startup with Superior Business Documentation

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Preparing Business Documents

Courtesy of the State of Montana

Let's continue our Startup 2.0™ Steps to “Rocket your Ready-to-Launch Startup,” from the Preliminaries to Phase I, Step 1:  Analyze, Upgrade or Prepare your Business Documentation, in formats such as our Overview format, which references our Business Plan format:

 State a succinct Mission

• Problem that needs solving
• Solution – unique and powerful.
• Purpose – providing a universal benefit

 Define your Market

• Demographics – type, revenue, workers, expense percentage, stage, growth rate, where you can make a difference
• Size – number or $$
• Penetration – percentage or $$
• Use library and paid Market Databases

 Show off your Management Team – what the Founders become:

• Members – 3-5
• Total experience – at least 125 years
• The Best Fit for each Founder – not every Founder is a CEO
• Deepen your Bench with Candidates for the Mgt Team:  Board of Directors; Board of Advisors; few meetings – call/email 1-4 hrs/mo; small equity = $30k-$60k+ in years 3-5; show off those resumes!

 Clearly outline the Money – your Financial projections:

• Detailed, reasonable Expenses – indicates your business knowledge and includes capitalization
• Realistic Income
• Net Income
• 1st 12 months
• Next 4 quarters
• Next 3 years – longer if needed for decent ROI
• Reviewed by qualified Accounting Advisor (generally a CPA)
• Be careful disseminating too much information so it doesn’t become an illegal “public offering” of an investment

 Establish written Agreements with:

• Team Members – duties; compensation; exit contingencies; other negotiated
• Early Investors – shows interest
• Vendors – shows reality
• Potential Customers – LOIs, MOUs or Purchase Orders

 Write robust Plans:

• Full Business Plan, such as our suggested format
• Marketing, such as our GOgitMMM™ Power Internet Marketing system
• Sales
• Operations
• Growth
• List all possible – detail at least one in each category

More to come on the Startup 2.0™ Steps. 

Feedback and suggestions are always appreciated here, by message or email.

Thank you very much, Kenton, USA 302KentonJ
LinkedIn • BRIEF • TEAM & Aggregate Resume • Startups 2.0™ Meetup (Denver, 4pm Mondays:  main, 1st; work session, 3rd)

Make Your “Startup Ready to Launch!” Parts One & Two

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Preparing Rocket for Launch

Courtesy of US NASA

“When telescopes work [bringing an entrepreneur’s future closer to change the world], the world is full of stars.  When they don’t, everyone whips out their microscopes  [and focuses on the details and flaws],” says Guy Kawasaki in his first The Art of the Start.  “The reality is that you need both microscopes and telescopes to achieve success, [and the key] is to survive the microscope tasks while bringing the future closer.”

As part of the microscope tasks, Entrepreneurs need to set up their business with the following, via attorneys, accountants, government resources, academic and community education, online courses and the many books.

Then you can “Rocket Your Ready-to-Launch Startup” using something like our Startup 2.0™ Steps.

Start with a draft Overview using the content in our Mission, Market, Management and Money™ 2-pager.

 Mission – one paragraph – there are many definitions – pick one or use the following that makes up your 1-minute power pitch.

• Problem – that needs solving.
• Solution – yours that is unique and powerful (such as reduce marketing cost and time by 30% each).
• Purpose – motivating to you, associates and partners.

 Market – in which your solution can make a difference – another paragraph (examples)

• Target Demographics– type of business (commercial real estate brokerage); revenue range (10mm+); number of workers, if revenue doesn't define well enough (40+); typical expenses as a percentage of revenue (80%, according to Forbes); length of time in business (3+ years); growth rate (5%+).
• Size – number or monetary magnitude (15,000).
• Penetration – expected – percent or monetary magnitude (10%).
• See Library and Paid Market Databases.

 Management – make a “deep bench” that is strong enough to adjust to a changing market and attract people and financial resources – show off the resumes, pictures and links to online profiles such as on LinkedIn.

• Founders and CxO's – ask for full dedication in hours available; Founders generally earn a bill-paying salary and a percentage of profits via their equity; offer CxOs a percentage equivalent to $200K-$500K in 5th year – more if bring money or IP to the table.
• Board of Directors – ask only 2-4 hours per month; offer a percentage equivalent to $60-100K in 5th year.
• Advisors – few or no meetings; ask for only an hour or two a month; offer a percentage equivalent to $30K in 5th year.

 Money – Current or Projected – 3-5 years.

• Expenses – be as certain as possible; indicates how much you really know about your business; show contingency planning – even a restart.
• Income – reasonable estimates – 20%+/-; make sure exceeds expenses and soon; work backwards from Income to determine lead population.
• Net Income – straight math – don't advertise publicly in conjunction with an investment amount and percentage received (to avoid SEC complications); don't make ROI claims publicly – provide the data and let financiers figure their own ROI.

Show Use of Funds

 Investors of all kinds – time, connections, equity, debt and delayed payment – want to know

 Show how each tranche will be distributed

 Be as certain as possible

Establish your Incorporation type – Sole, Partnership, LLC, S-Corp, C-Corp

 LLCs are a good place to start

 An LLC can become a full C-Corp

Determine your starting Location – virtual, home, office, facility

 Home is a great choice

 Many work spaces are springing up at reasonable rates

 Check unused office or warehouse space

 Establish a legal address besides your home or a PO Box

• Forward ALL your mail – to home or wherever you are in the world
• The Post Office is not forwarding financial- type mail – or what looks like it 

Part Two

According to consultant John Mullins, in his book, The Customer-Funded Business, only 1% of US startups receive equity funding, and it is worse in other countries.

Why?  Most likely, the other 99% of entrepreneurs did not set up their business well then learn to “Rocket [their] Ready-to-Launch Startup” using something like our Startup 2.0™ Steps.

Make sure your Patents are submitted

Licenses and Licensing

 Obtain your Business Licenses

• Be registered properly
• In-Home zoning restrictions could be an issue if too much traffic, employees, noxious chemicals or noise

 Obtain all other Licenses that you will need

 Think seriously about Licensing your IP if it is the majority of your startup, since:

• Inventions will generally net about 20% of the profit – when up to speed
• Allows you to invent, license then move on to the next invention

Decide on and begin to use your Bookkeeping method and Software

 Start out with something that’s transferable to other systems
 Software allows quick Profit/Loss Statements and other Financials
 Need to be very current – not more than 30 days – for banks and many other financiers

Select and start using your Professionals

 Attorney
 Accountant
 Bookkeeper – find through Accountant
 Consultants
 Coach

Initial Funding will show other sources how you’re managing the money

 Credit Cards
 LOC
 2nd Mortgage(s)
 Friends & Family
 Suppliers
 Customers
 Associates
 Convertible Notes
 Seed Capital

Join Professional Groups

 LinkedIn
 Meetup
 Clubs
 Chamber(s)

Here are some more Resources for set up

 Gale Courses – online and free at many libraries
 Guy Kawasaki’s The Art of the Start books
 City, State, SBA, SCORE, some Chambers – though schedule may not be frequent enough, sometimes retreaded information from last Century; no consistent plan; and worth about what’s paid
 More of this information is available by contacting us

More to come on the Startup 2.0™ Steps. 

Feedback and suggestions are always appreciated here, by message or email.

Thank you very much, Kenton, USA 302KentonJ

LinkedIn • BRIEF • TEAM & Aggregate Resume • Startups 2.0™ Meetup (Denver, 4pm Mondays:  main, 1st; work session, 3rd)

Make Your Startup Ready to Launch! Part One

 See Parts One & Two.  

New Downtown Denver Meetup - Apr 4th, 4-5pm + networking up to 6pm - Rocket your Ready-to-Launch Startup

Updates in Italics

Metro-Denver Founders (and remote Associates):

Please join us at our 1st downtown-Denver Startups 2.0™ MeetUp (in person or online):

• Apr 4th, 4-5 pm + networking up to 6 pm

• StartUps-2.0-MeetUp.pskhj.com

Courtesy of WikiPedia

• "Rocket your Ready-to-Launch Startup"

• Very Hi-Tech Oblong Mezzanine Conference Room

• The (11-month-old) COMMONS on Champa

• 1245 Champa St, Denver CO 80202

• Between DCPA and the Convention Center

​• JOIN, participate / stay informed, PROSPER!  (Waitlisting now - 2 spots may open soon.)

​​• Monthly on 1st Mondays

• More on The Commons:  YouTu.be/zERWBoRvdrg

​​

Recent presentation (in the same Conference Room set):  Startups2.0-Video.pskhj.com

Thank you very much, Kenton, USA 302KentonJ LinkedIn • BRIEF • TEAM & Aggregate Resume • Startups 2.0™ Meetup (Denver, 4pm Mondays:  main, 1st; work session, 3rd)

Denver-Area Invitation: Startup (Education) Fest, ​1245 Champa, Weds Feb 17, several sessions 9:45 to ​5:00 for Auraria, Regis and DU staff and students

​Added My Presentation- 

YouTube Video of opening 5 minutes

Just received confirmation with announcement updates, that I can invite you to: 

UNIVERSITY STARTUP FEST

​For Staff and Students at ​Auraria, Regis and DU

& INVITED GUESTS

Wednesday, February 17, 2016

Official presentation hours: 9:45 to ​5:00

AGENDA

​ for THE COMMONS on CHAMPA

​

1245 Champa St

​, Denver - next to Light Rail Convention Center / DCPA Station​

See other venues at ​bit.ly/1o7FOfB​​

Come network, mentor, educate and participate:

09:45 am-10:45 am

1245 Champa St. Conference Room 2

RMMFI: Exploring Business Ownership

by Aaron Witzke

www.eventbrite.com/e/rmmfi-exploring-business-ownership-tickets-21492726323

11:30 am – 1:00 pm

1245 Champa St. Conference Room 2

Colorado Crowdfunding: Product PreSale Crowdfunding –The Work BEFORE the Launch by Rita Crompton

www.thecommons.co/event/colorado-crowdfunding-presents-product-presale-crowdfunding-the-work-before-the-launch/

​<May have to call in your registration until COMMONS site is set up:  (720) 484-5400 > ​​​

​

1:30 pm – 2:30 pm

1245 Champa St. Conference Room 2

Prosper Systems: Startups 2.0™ Rocket your Ready-to-Launch Startup

Kenton Johnson, a 37-year, seven-business consulting veteran who's guided more than 10,000 business clients, students and international readers, will point out the critical elements to successfully launch a business that are often missed by advisors, incubators, books and mainstream media.  Based on CCCCsteps.prospersystems.biz

www.eventbrite.com/e/launch-your-startup-advanced-success-tickets-21501142496

UPDATE:  see YouTube Video of opening 5 minutes

3:30 pm - 4:15 pm

1245 Champa St.

Event Room

Keynote Entrepreneur Panel

www.thecommons.co/event/all-university-startup-fest/

4:15 pm - 5:00 pm

1245 Champa St.

Commons on Champa Networking Event

​    Just show up ​ - I'll probably hang out until 5:30 or 6:00​

Thank you very much, Kenton, USA 302KentonJ LinkedIn • BRIEF • TEAM & Aggregate Resume • Startups 2.0™ Meetup (Denver, 4pm Mondays:  main, 1st; work session, 3rd)

​​

Opportunities - Colorado Water Devel, Ecuador Oil Contract JV, Oil to Turkey, O&G Production Buyer, Large Project/Asset Buyer - Financial​​ Partners / Referrals Appreciated

Also at our Group.prospersystems.biz 

Hello Fellow Collaborators:  Opportunities growing already this year.  Join in as referrer, direct or participant.

​​

FINANCING PROJECTS 

We are consulting with clients to find them equity, debt, cash flow and other kinds of funding, per FundingSteps.ProsperSystems.biz  

​​

Colorado Municipal Water-Treatment Plant Development

Denver-Area, veteran business owner, geologist and developer, leads a stellar team to source, secure and treat water in high-demand regions, contracted with Colorado municipalities then beyond.  

SEEKS:  us$6.9mm, equity and debt, for two projects - $2.9mm and $4mm

​​

Ecuadorian Oil Contract

Two seasoned, global players facilitating a JV with a 120,000 BOPD operator in Ecuador for a us$1Bn deal.

SEEKS:  us$500mm JV-Equity Partner

​​

BROKERING PROJECTS

​​

Oil to Turkish Port

NYSE-listed company refines in excess if 2.5 billion per year.  

SEEKS:  Strong Seller to deliver 1mm BBL per month to Turshish Port

​

LARGE PROJECTS / ASSETS WANTED

See BuyingAndSellingInterests.ProsperSystems.biz

SEEK:  Qualifying Sellers, us$10M to $200mm++

Which includes O&G Production Purchaser

Long-Time US-based organization buying 20-49% of oil production, per BuyerOGproduction.prospersystems.biz 

       SEEK:  US/Canadian Oil and Gas Operations with at least 1,000 BOEPD

UPCOMING PROJECTS (in final negotiations)

​​

Texas Oil Operations 

Well-seasoned organization acquiring us$93mm in Producing Oil Operations.

SEEKS:  80% LTV loan on intial, us$18mm property.​​

Will discuss structure for additional properties. 

SOURCES​

​

If you are, or have a financial source, please contact me immediately.  WE'LL WORK ON:

  • LenderCriteria.prospersystems.biz which will be added to Lenders.prospersystems.biz

  • FunderCriteria.prospersystems.biz on equity providers which will be added to Funders.prospersystems.biz

​​

REFERRALS - see Referralincome.prospersystems.biz

Thank you very much, Kenton, USA 302KentonJ LinkedIn • BRIEF • TEAM & Aggregate Resume • Startups 2.0™ Meetup (Denver, 4pm Mondays:  main, 1st; work session, 3rd)

"We have major funding and purchasing resources available for quick turnaround on ready-to-go projects ... for clients."