1. ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
RESEARCH CONSULTING
Technological Entrepreneurship
Yonah Alexandre Bronstein, PhD
Session 10
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
©2008 ASTAV, inc. – Confidential & Proprietary – Contact for pricing.

2. ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
Session Outline
Grading process…
Chapter 7: Art of Raising Capital – Part 2.2
Chapter 8: Art of Partnering
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
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3. ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
Grading Process
Nothing (D)
Something (C)
Complete/Business Presentable (B)
WOW! (A)
How? Learn from:
Previous Students
The Real World! (go meta)
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
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4. Ch.7: Understand What You’re Getting Into
Different kinds of investors mean different business lives:
Venture Capitalists (VCs)
Other People’s Money
Quarterly pressure / No room for personal feelings
2 Control buttons: fire CEO and/or VP of Sales
Angel Investors (“White Knights”)
Different motivation (Pay back society? Get meaning to market)
Live vicariously
Spouse = investment committee (Make story comprehensible to spouse)
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
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5. ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
Ch.7: Creating a Board
Whether “Board of Advisors” or “Board of Directors”, you need to have:
“The Customer”
“The Realist”
“Dad” (concensus builder)
“The Truth Watcher”
“Mr. or Mrs. Connections”
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
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6. ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
Ch.7: Managing a Board
Whether “Board of Advisors” or “Board of Directors”, you need to give them:
Less paper rather than more
Useful metrics
A couple of days ahead of board meetings
Only positive surprises (bad news should be shared in private ahead of time)
And for your sake: ask feedback in advance of key decisions
Carly Fiorina story..
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
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7. Ch.7: Frequently Asked Questions (FAQ)
Longest in the book, with a wide variety of questions, yet only a few answers:
“You’re thinking too much.”
“Tell the humble truth.”
“It depends.”
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
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8. ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
Ch.7: Raising Anything
Dear Guy Kawasaki, Following your 10 point format: 1. I am teaching a class on starting a start-up at Ben-Gurion University, Israel (details: 2. The textbook for the class is your book: "The Art of the Start" 3. To my surprise, most of the students can not afford to buy it 4. Turns out the local economics here are radically different from Stanford, where I went to school (yearly tuition around 2 K$, rather than around 20 K$) 5. Would Garage.com consider making a donation to the University Library of about 20 copies of your book? 6. You could consider it a Very Very early Seed investment in Israeli entrepreneurship 7. You could consider it a World Wide Kindness on this ThanksGiving day 8. The address to ship them to if you agree is: Frankel Admin, Bldg 37, Ben-Gurion University, Beer-Sheva, ISRAEL 9. My phone if you have any question is: (10 hours ahead of Pacific time) 10. It's all about Chapter 11 in your book :) Thank you very much for your consideration, Yonah Alexandre Bronstein, PhD
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
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9. ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
Ch.7: Final Wisdom
Arthur Rock (founder of Intel, backed Fairchild Semi, Teledyne, Apple): “If you want to get an investment, show that you will build a business.”
 “Chicken & Egg” problem [bootstrap chapter]
Hunt Green (VC): “Everything is always impossible before it works. That is what entrepreneurs are all about – doing what people have told them is impossible.”
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
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10. Ch.8: Art of Partnering Right Reasons
“Spreadsheet” reasons:
Accelerate Cash/Flow
Increase Revenues [Apple-Aldus]
Decrease Costs
And not for:
“Halo” Effect
Silence Critics (e.g. the press) [Apple-DEC]
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
©2008 ASTAV, inc. – Confidential & Proprietary – Contact for pricing.

11. Ch.8: Define Deliverables/Objectives
Precisely, not vaguely, as appropriate:
Additional revenues
Reduced costs
New products and services
New customers
New geographic markets
New support, training, marketing, […] programs
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
©2008 ASTAV, inc. – Confidential & Proprietary – Contact for pricing.

12. ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
Ch.8: Why not done?
Can not come up with specific deliverables and objectives (bad sign: “partnership built on sand”)
Lazyness/Lack of discipline (better )
But still, management work is to cover:
WHAT will each organization deliver?
WHEN will they deliver it?
WHERE will they deliver it?
What INTERIM milestones must be met?
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
©2008 ASTAV, inc. – Confidential & Proprietary – Contact for pricing.

13. Ch.8: Good Characteristics
Ensure MIDDLES and BOTTOMS like the deal
Find & Empower internal CHAMPIONS
Make success of partnership SOLE goal of champions
Accentuate STRENGTHS of partners; don’t try to cover weaknesses
Cut WIN-WIN deals (win-lose don’t last long)
Draft a legal document, with an “out” clause, LAST
Beware of “stuck in the belly of a snake…”
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
©2008 ASTAV, inc. – Confidential & Proprietary – Contact for pricing.

14. ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
Ch.8: Art of ing
Concise (ideally, 5 sentences)
Fix subject (remind reader of past encounter) & name
Respond within 24 hours [California work style…]
No CAPS (like shouting) [in USA at least, not cool]
Quote back (for context)
Beware of CC; BCC large groups (for privacy)
WAIT when you HATE! [and then call instead…]
“I have made this [letter] longer, because I have not had the time to make it shorter.” Blaise Pascal
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
©2008 ASTAV, inc. – Confidential & Proprietary – Contact for pricing.

15. ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
Ch.8: Art of Shmoozing
Get out! (“contact sport”)
Ask good questions, then shut up [and listen!]
Follow-up, ideally within 24 hours (it’s rare, and hence will make an impact)
Unveil your passions / or read a lot…
Give favors (esp. to those who can’t help you)
Return favors, and ask for return of favors…
The “Big Karma Scoreboard in the Sky”…
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
©2008 ASTAV, inc. – Confidential & Proprietary – Contact for pricing.

16. ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
Q & A ?
For Next Session?
Find someone with $$
Ask for 20 minutes of their time to hear about your business idea
And give you their FEEDBACK
Kind of pitching…
ABUSE SUPPRESSION TECHNOLOGIES, ACTIVITIES, VISION.
©2008 ASTAV, inc. – Confidential & Proprietary – Contact for pricing.