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[quote=Anonymous][quote=Anonymous]I've been in various startups for nearly 20 years now (ouch I feel old.. I did it straight out of college).  Back then, startups weren't "cool" and there were no big cheerleading events for them and so on. Now there are plenty such events (just go to a DC Tech meetup), and jurisdictions fight to get startups to move there, and they even have a TV series about it (Silicon Valley, on HBO). In short, it's now cool to do startups so everyone wants to.

There's also a lot of money floating around. Your friend who was at GS and has an MBA from a top 10 school can easily raise some angel financing -- they likely have enough contacts. Also, angel investors aren't as sophisticated -- think a bunch of rich doctors or lawyers with some extra money to throw around (interesting trivia: next time you eat at Subway, read the wrapper carefully and you'll see "Copyright Doctor's Associates" on it... guess who started Subway?). They aren't going to really scrutinize financials, especially after they've handed over their $$, as they don't know what to look for anyway. Someone who was at GS can probably put together a really nice Powerpoint and really sell it to investors.

The problem is people like this often don't understand startup culture and what it really means. They come from corporate world, which involves expensive travel, expense accounts, etc. Meanwhile in the startup world, it's about saving as much money as possible. For some conferences, we'd all pile into someone's car and drive 8 hours to get there, since it saved a huge amount of money. We'd stay at budget motels and double-up in the rooms. That's the startup culture, because you're short on cash. It also meant working 6-7 days a week, 12/hour days, because it's the only way you're going to win.

People coming from a corporate background often don't understand this culture. They don't understand what it is to be "hungry" and cash-starved.

That said, I've seen a number of corporate types go into startups, usually at a later stage, and do really well. They bring some level of order to the chaos that is startup culture. That can be good when startups reach a certain point when it's no longer 10-15 people all working in the same room.

My current "startup" (now 10 years old) generates a very significant HHI and I only have to work 30 hours a week, but it was a long and difficult path to get the company to this stage. I started it entirely from my meager savings, and adjusted my lifestyle and company spending accordingly. I didn't eat ramen at every meal, but I did eat lots of eggs, rice, and cheap vegetables, that's for sure.[/quote]

If your current company and/or other start-ups are not tech based, do you have any suggestions or resources for tapping into the local entrepreneurial community?  Not for money but to connect with like minded individuals, possibly for mentoring/advising/support.[/quote]

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