Steve Blank, Serial Entrepreneur; Founder, E.piphany; Professor, UC Berkeley and Stanford Engineering; Author, The Startup Owners Manual
In conversation with Dan’l Lewin, Corporate Vice President of Strategic and Emerging Business Development (SEBT), Microsoft
Join Silicon Valley serial entrepreneur-turned-educator Blank in a lively discussion with Dan’l Lewin of Microsoft. This program will introduce best practices, lessons and tips that have swept the startup world, offering a wealth of proven advice and information for entrepreneurs of all stripes. Hear about a tested and proven Customer Development Process, helping get it right –and how to “get, keep, and grow” customers.
10 Reasons Doctors Make Great Entrepreneurs
Article by Arlen Meyers, MD, MBA
My response to his article.
I really enjoyed reading your article. Very well stated and I agree that physicians have the genetics and training to be great guides in healthcare innovation. The unfortunate reality is that currently doctors are working triple time and can’t do both; clinician and startup CEO. They can find great intellectual stimulation from ideation and invention. This is not enough!
Physicians with great ideas need a pathway to protecting the IP, building a team, forming a company, self funding the early phases. They must have financial skin In the game. They should be advised to team up with an experienced team. Great corporate attorneys are a must as is a part time CFO. Determining proper regulatory guidance with FDA, CE mark and reimbursement pathways.
Then consultants to help refine executive summaries, business plans and investor pitches. Raising funding is a full time job! Presenting to Angel investors, VCs or strategic partners.
Exciting but a difficult ride. A doctor can not both be a clinician and a startup CEO. I know because I tried and failed. I sold my clinical practice 6 years ago and have devoted my full time to healthcare innovation and guiding startup CEOs. I am the managing director of http://Venture-Med.com
Comedian Jim Carey narrates this beautiful sequence of Life. I was moved and only wish that all people across our planet could join in a ocean of consciousness for good and peace. Joined in thought and goodwill to extinguish all hate and evil. Joined together to pervade our societies with a blanket of honor, respect, peace and love.
Sky surfing is a type of skydiving in which the skydiver wears a board attached to his or her feet and performs surfing-style aerobatics during freefall. Â The video is the most amazing thing I have ever seen. Â If only I could have the ability to have such nerve to jump and fly! Â Sometimes in life, that is exactly what you must do.
1. Two founders are more fundable than one.
2. Incorporate Delaware C corp
3. Authorize 10 M shares of common stock and distribute no more than 4M amongst founders.
4. Keep par value of common stock at $.001 and have founders and early consultants purchase stock. Avoids tax issues.
5. Raise seed capital of up to $1M using convertible notes with a 20% discount on conversion upon your series A round. Founders should capitalize the company using this vehicle also. This mechanism allows a company to raise capital and not have to negotiate a pre-money valuation on an equity raise.
6. Patents and IP placed into the company after the founders buy their stock.
7. Have an experienced law firm.
8. Have a elevator pitch, a 1-2 page executive summary, a 20 slide investor pitch
9. Have experience consultants, shadow CEO, and part-time CFO.
10. Present to accredited investors and angel investment groups.