The Startup Velocity Question: What Hinders Acceleration in VC Funded Companies?

I have been running 1Mby1M since 2010. I find myself saying to entrepreneurs ad nauseam that VCs want to invest in startups that can go from zero to $100 million in revenue in 5 to 7 years.

Startups that do not have what it takes to achieve velocity should not be venture funded.

Experienced VCs, over time, have developed heuristics to gauge what constitutes a high growth venture investment thesis. 

1Mby1M Udemy Courses with Sramana Mitra: Bootstrapping

Over the course of two years, we have released over 70 courses on Udemy with the aim to democratize entrepreneurship education at scale globally. This series of posts aims to help you find the one you need easily and provide you with discount coupons.

Navigating the Microsoft Ecosystem to Build a 12 Million Dollar Company: Brian Knight, CEO of Pragmatic Works (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Brian Knight, SQL Server MVP, MCSE, MCDBA, is the co-founder of SQLServerCentral.com, JumpstartTV.com, and is on the principal board of directors of the Professional Association for SQL Server (PASS). Brian is a contributing columnist for many industry magazines and sites. He has written or cowritten more than nine SQL server books. Brian has spoken at conferences like PASS, SQL Connections and TechEd and many Code Camps.

Sramana: Brian, let’s start at the beginning of your story. Where do you come from? What is your background leading up to the Pragmatic Works story?

Brian Knight: I was born and raised in Jacksonville, Florida. I started programming when I was seven years old. I was a teenager in the 1990s, so when I was graduating high school I was right on the cusp of the dot-com boom. If you could say the word ‘computer’ you could get a job very fast. >>>

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Rolling Up Bill Management: Flint Lane, CEO of BillTrust (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Flint Lane is a serial entrepreneur and the founder and CEO of Billtrust, a company offering B2C and B2B billing services. Billtrust has earned numerous awards from business organizations, including the Deloitte Technology Fast 500 and Inc. 500. Prior to founding Billtrust, he was the founder of Paytrust, an electronic bill presentation and payment (EBPP) company. He has also held executive positions at Platinum Technology, Logic Works, and Brownstone Solutions. Mr. Lane received his bachelor of science in computer science from Rensselaer Polytechnic Institute.

Sramana: Flint, let’s go back to where your story begins. Where are you from, and where did you grow up?

Flint Lane: I grew up in New York and was a bit of a computer nerd growing up. >>>

Freemium, Conversion Rates and More: AVG CEO J.R. Smith (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

J.R. Smith is the CEO of AVG, which offers antivirus solutions through a freemium model. Prior to joining AVG, Smith served as chief executive officer of United Kingdom-based Dot Mobile Limited, a mobile virtual network operator he cofounded in 2005 and that partnered with Vodafone Group Plc to provide mobile services to students in the United Kingdom. His first European venture was TelecomSolutions Group, Inc., a pan-European network deployment and telecommunications software development company he founded in 1997. Clients included Vodafone, Nextel, T-Mobile, Telefonica, Nokia, and Ericsson. Smith began his career with PNC, which evolved to become the publicly listed VoiceStream Wireless Corporation, later acquired by T-Mobile USA, Inc.

Sramana: J.R., let’s go back to the beginning of your personal story. Where do you come from? What were the precursors to your entrepreneurial story?

J.R. Smith: I was born in Olympia, Washington. I grew up in a normal family in the countryside. While I was in college, I became a DJ. I studied hotel and restaurant administration at Washington State University. >>>

Building the World’s First Mobile Rewards Network: Brian Wong, 20-Year-Old Founder of Kiip (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Brian Wong is the founder of Kiip.me, a mobile rewards program. Prior to founding Kiip, he worked at Digg in business development. His five months there ended when he was laid off because of cost-cutting measures, an event that motivated him to start his own company. Prior to working at Digg, he gained recognition by developing social apps for Twitter. He graduated from the University of British Columbia with a degree in business at the age of 18.

Sramana: Brian, let’s start by reviewing some of your background. Where are you from and where did you grow up?

Brian Wong: I was born in Vancouver, Canada. My parents came over from Hong Kong in the 1980s and I was born in 1991. I lived there and went to school there until I was 18, at which time I moved to San Francisco. >>>

From New Zealand To Silicon Valley: Victoria Ransom’s Wildfire Journey (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Victoria has been an entrepreneur since her early twenties and has developed three companies. As founder and CEO of Wildfire (www.wildfireapp.com), Victoria led the company to profitability in just one year and has built the company to tens of thousands of customers, over 250 employees, and eight offices worldwide. Clients include major brands and agencies such as Facebook, Pepsi, Unilever, Sony, AT&T, Ogilvy, Publicis, and Digitas. Wildfire is a two-time winner of the fbFund; investors include Summit, Facebook, Accel Partners, and the Founder’s Fund. Victoria has been featured in several publications including The New York Times, CNN, and The Wall Street Journal. She was named one of the ’25 Women to Watch in Tech’ for 2011 and 2010 and was named the Ernst & Young Entrepreneur of the Year for New Zealand. Victoria has spoken at numerous events, including Le Web, SXSW, OMMA, AlwaysOn, Ad:tech, and Web 2.0.

Sramana: Victoria, let’s start at the very beginning of your story. Where do you come from?

Victoria Ransom: I grew up on a farm in New Zealand in the middle of nowhere. There were 25 students in my primary school. It was a wonderful upbringing, and it was very beautiful. It was a very supportive environment and a small environment. I felt I could do anything. >>>

Doing $5 Million A Year With Three Employees: FineArtAmerica CEO Sean Broihier (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Sean Broihier is the CEO and founder of FineArtAmerica.com. After graduating from the University of Illinois with a degree in mechanical engineering, he worked at an engineering firm for 10 years. He started his first business, LocalAutomation.com, as an online marketplace for engineers in 2005. In 2007 he launched FineArtAmerica as an online marketplace for artist and photographers.

Sramana: Sean, let’s start at the beginning of your story. Where are you from? What is your background?

Sean Broihier: I am from a small town just outside Chicago. I was born and raised in the same house my entire life. My parents, two older brothers, and a younger sister lived there with me. My brothers are seven and eight years older than me. >>>

A Successful Husband-Wife Team: Moonfruit Cofounders Wendy Tan White and Joe White (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Wendy Tan White is the CEO of Moonfruit, a company she cofounded with Eirik Pettersen and Joe White. Moonfruit is an on-demand website development platform that allows anyone to develop a website for any purpose in a matter of minutes. Prior to Moonfruit, Wendy worked at Arthur Andersen as an IT consultant and helped establish Egg.com. Joe worked as a website developer while finishing college and completed projects for clients such as Disney and Egg.

Sramana: Let’s start by reviewing your personal backgrounds.

Wendy Tan White: I studied computer science at Imperial College in London. It was a great experience and a great college. I used to program really old assembly line systems, which is a far cry from where we are today. >>>

Optimizing Websites With Machine Learning: BloomReach CEO Raj De Datta (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Raj De Datta is the CEO and co-founder of BloomReach, the world’s first web relevance engine. Prior to founding BloomReach, Raj was an entrepreneur-in-residence at Mohr-Davidow Ventures. Prior to that he was the director of product marketing at Cisco. Prior to Cisco he was part of the founding team at telecom company FirstMark/LambdaNet, which grew to $80 million in run-rate revenues. Raj also worked in technology investment banking at Lazard Frères. He holds a BSE in electrical engineering from Princeton and an MBA from Harvard Business School.

Sramana: Raj, let’s start with your personal journey. Where are you from?

Raj De Datta: I grew up between India and the Philippines. I lived in the Philippines eight months out of the year and went to school there. I was in India about four months out of the year. I came to the U.S. for college. >>>

Building An Enterprise Software Company From Europe: President Of Neolane North America, Stephan Dietrich (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Stephan Dietrich is a co-founder and the president of North America for Neolane, a provider of conversational marketing technology. He has 15 years’ experience in enterprise software and marketing expertise in the high-tech field. Previously he was president of Cubicsoft and co-founder of AGDS, which was sold to Peregrine Systems. He holds a master of science from the Ecole Centrale Paris and earned his MBA from the Collège des Ingénieurs.

Sramana Mitra: Stephan, let’s start with the beginning of your story. Give us some context about where your story begins.

Stephan Dietrich: I am half-German, half-French. I grew up on the German border in a multicultural environment, a very rich region where the unemployment rate was the lowest in France and the GDP was the highest in the country. >>>

Having Fun At The Cusp Of Technology And Entertainment: Phunware CEO Alan Knitowski (Part 1)

If you haven’t already, please study our Bootstrapping Course and Investor Introductions page. 

Alan Knitowski is the chairman and CEO of Phunware, which develops the mobile experience framework brandME and the mobile application infrastructure PRAISE. He is a serial entrepreneur and a veteran of the United States Army. Prior to Phunware he was the president of alternative investments for Curo Capital LLC and managing director and president of strategic investments for Trymetris Capital Management.

Sramana: Alan, let’s start with your personal background.

Alan Knitowski: I am a non-recovering serial entrepreneur. I spent 12 years in California, which included five in Silicon Valley and seven in Newport Beach. >>>