Do More Faster audiobook cover - Techstars Lessons to Accelerate Your Startup

Do More Faster

Techstars Lessons to Accelerate Your Startup

David Cohen and Brad Feld

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Do More Faster
The Power of Passion+
Building the Team+
Execution & Product+
Funding & Investors+
Legal Basics+
Work-Life Balance+
Strategic Partnerships+

Quiz — Test Your Understanding

Question 1 of 8
According to the authors, what is the most important ingredient for business success that investors actively look for?
  • A. A flawless business plan
  • B. A completely unique idea
  • C. Deep passion for the project
  • D. Immediate profitability
Question 2 of 8
What rule do the authors suggest following when recruiting members for your start-up team?
  • A. Hire people who share your exact skill set to ensure consistency.
  • B. Always hire people who are better than you so they can challenge you.
  • C. Hire junior staff to keep initial costs low.
  • D. Hire people who agree with your vision without questioning it.
Question 3 of 8
Why do start-ups often have an efficiency advantage over large corporations?
  • A. They have more capital to spend on rapid development.
  • B. They are less burdened by bureaucratic procedures and are more flexible.
  • C. They can afford to hire much larger teams for specific tasks.
  • D. They are exempt from most corporate legal regulations.
Question 4 of 8
What is the 'three sentence rule' recommended for reaching out to potential investors?
  • A. Only send three emails before giving up on an investor.
  • B. Include exactly three financial projections in your pitch.
  • C. Keep the body of your initial email to three sentences or less to avoid discouraging busy people.
  • D. Limit your entire business plan summary to three sentences.
Question 5 of 8
Besides venture capitalists, which of the following is suggested as a viable way to fund a start-up in its early stages?
  • A. Taking out massive personal loans to maintain total equity.
  • B. Selling your product to a small number of early customers.
  • C. Selling shares to your direct competitors.
  • D. Avoiding partnerships with larger companies at all costs.
Question 6 of 8
Which corporate structure is highly recommended for businesses that are trying to raise money from venture capitalists?
  • A. S-Corp
  • B. Sole Proprietorship
  • C. LLC
  • D. C-Corp
Question 7 of 8
What is the primary purpose of implementing a vesting schedule for company shares?
  • A. To avoid paying corporate taxes during the first four years.
  • B. To guarantee that investors receive their dividends immediately.
  • C. To legally transition the company from an LLC to a C-Corp.
  • D. To incentivize founders to stay committed and protect the company if someone leaves early.
Question 8 of 8
What actionable advice do the authors give regarding collaborations with larger companies?
  • A. End the relationship if it becomes unproductive, because big companies move much slower than start-ups.
  • B. Always defer to the larger company's schedule to maintain the partnership.
  • C. Merge with the larger company as soon as possible to secure guaranteed funding.
  • D. Avoid reaching out to large companies entirely, as they will steal your ideas.

Do More Faster — Full Chapter Overview

Do More Faster Summary & Overview

Do More Faster (2011) presents a step-by-step guide to launching your start-up. It’s crucial to stay on track as you move toward success, from honing your ideas to finding the right team and getting investors. The author also stresses the importance of the work-life balance while showing you how to do more faster.

Who Should Listen to Do More Faster?

  • Aspiring entrepreneurs and small business owners
  • Anyone interested in start-up culture

About the Author: David Cohen and Brad Feld

David Cohen is the founder of Techstars and has successfully started several other companies. Now he invests primarily in internet start-ups. Brad Feld works for the venture capital company Foundry Group and has been active as an investor and entrepreneur for over twenty-five years.

 

©David Cohen and Brad Feld: Do more faster copyright 2010, John Wiley & Sons Inc. Used by permission of John Wiley & Sons Inc. and shall not be made available to any unauthorized third parties.

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