If you missed last night’s Startup Grind event with Bill Reichert you missed out on some great stories and great nuggets of wisdom from a prominent Silicon Valley VC. But here’s a (lazy man’s) recap of the evening based on the live tweets from the event.
Startup Grind events are a great way to network with others in the Sacramento startup community, hear great stories of success and failure in entrepreneurship, and learn valuable lessons from others. Don’t miss out. The next event is next Tuesday with Eric Yuan of Zoom Communications. Get tickets here.
#startupgrind is packed tonight #sactech pic.twitter.com/zWkRF8Xpp1
— Startup Sac (@sacstartup) March 3, 2016
#startupgrind networking @TheUrbanHive pic.twitter.com/9If8i886QG
— Startup Sac (@sacstartup) March 3, 2016
A few more suits in attendance tonight at #startupgrind pic.twitter.com/uqZVTAUaFO
— Startup Sac (@sacstartup) March 3, 2016
Our host @ApptologyCEO kicking things off at #startupgrind w/
Bill Reichert #sactech pic.twitter.com/5nii7TlOld— Startup Sac (@sacstartup) March 3, 2016
Learning about how Bill Reichert got his start in entrepreneurship #startupgrind #sactech
— Startup Sac (@sacstartup) March 3, 2016
“Secret to investing strategy – only invest in companies that any idiot can run.” – @billreichert #startupgrind #sactech
— Startup Sac (@sacstartup) March 3, 2016
Successes were straightforward, not being too clever, taking care of customers. – @billreichert #startupgrind
— Startup Sac (@sacstartup) March 3, 2016
After Learning Company went public, @billreichert & friends thought about inventing a touch screen. circa 1992 #startupgrind #sactech
— Laura Good (@goodlaura) March 3, 2016
Something like today’s iPhone was developed by @billreichert & friends. Circa 1992 — investors didn’t think it was feasible. #startupgrind
— Laura Good (@goodlaura) March 3, 2016
.@garagetechlabs was created by @billreichert @GuyKawasaki and others to democratize venture capital globally. Didn’t work. #startupgrind
— Laura Good (@goodlaura) March 3, 2016
Key challenge is figuring out how to be more innovative, figuring out better ways to do things ~ @billreichert #sactech #startupgrind
— Startup Sac (@sacstartup) March 3, 2016
Innovation in next phase is about disrupting things that are there now and making them bettet, challenging incumbents ~ @billreichert
— Startup Sac (@sacstartup) March 3, 2016
Garage Tech funds novel tech w/sustainable competitive advantage that can make dent in sector they’re pursuing. @billreichert #startupgrind
— Laura Good (@goodlaura) March 3, 2016
Latest investment is co that 3D prints metal parts 100x faster than fastest machine currently on the planet. @billreichert #startupgrind
— Laura Good (@goodlaura) March 3, 2016
Advice for early stage startups – the best way to fund your company is with revenues/customers ~ @billreichert #startupgrind
— Startup Sac (@sacstartup) March 3, 2016
Go find potential customers and get endorsement & validation, then you can go to VCs ~ @billreichert #startupgrind
— Startup Sac (@sacstartup) March 3, 2016
You really want to have an unfair advantage & most entrepreneurs are bad at articulating it. @billreichert #startupgrind
— Startup Sac (@sacstartup) March 3, 2016
Every entrepreneur falls into the trap of describing their product. 1st, be clear about what you do. @billreichert
— Startup Sac (@sacstartup) March 3, 2016
Getting to WOW — you have 20 seconds to say something compelling or you’ve lost your audience. @billreichert #startupgrind #pitching #vc
— Laura Good (@goodlaura) March 3, 2016
Figure out how to say what you do in one sentence. @billreichert
— Startup Sac (@sacstartup) March 3, 2016
Then describe why they should care. What is your competitive advantage
— Startup Sac (@sacstartup) March 3, 2016
3rd sentence of pitch – establish your credibility. Why should they believe you. ~ @billreichert #startupgrind
— Startup Sac (@sacstartup) March 3, 2016
30 seconds to wow 1) What do you do. 2) What is the compelling value propisition. 3) Establish your credibility @billreichert #startupgrind
— Startup Sac (@sacstartup) March 3, 2016
VCs don’t invest with their heads. 1st they fall in love with the deal @billreichert #startupgrind
— Startup Sac (@sacstartup) March 3, 2016
VC dirty little secret – the way to get funded is to get someone to fall in love with you. ~ @billreichert #startupgrind
— Startup Sac (@sacstartup) March 3, 2016
VCs fall in love with something that you’ve got – the team, the tech, … @billreichert #startupgrind
— Startup Sac (@sacstartup) March 3, 2016
3rd kind of VC love – falling in love with the vision ~ @billreichert #startupgrind
— Startup Sac (@sacstartup) March 3, 2016
— Startup Sac (@sacstartup) March 3, 2016
How do you raise an entrepreneur: Make sure that ur kids have high confidence in themselves & are resilient. ~ @billreichert #startupgrind
— Startup Sac (@sacstartup) March 3, 2016
Thank you @billreichert for visiting #Sacramento and speaking at @StartupGrind pic.twitter.com/c7uPN7ZocG
— Rich Foreman (@ApptologyCEO) March 3, 2016
