Boston’s Top Bootstrapped Startups

Posted on May 25, 2012 by jonahlupton

This is a working list so if you know of any startups that should be added please email me at jonahlupton@gmail.com or message me on Twitter at @jonahlupton

Boston’s Top Angel-Backed Startups

Posted on May 25, 2012 by jonahlupton

This is a working list so if you know of any startups that should be added please email me at jonahlupton@gmail.com or message me on Twitter at @jonahlupton

7 Things Every Young Entrepreneur Can Learn from ‘Shark Tank’

Posted on May 23, 2012 by jonahlupton

written by Jonah Lupton for… YoungEntrepreneur.com and @YoungTrep

When ABC’s Shark Tank debuted 3 years ago it quickly became a favorite show for millions of viewers across the country. This inspiring reality show exemplifies why America is so remarkable and proves that Entrepreneurship is still thriving. Everyday millions of people wake up to pursue their dreams and passions but many of these Young Entrepreneurs quickly realize their businesses need capital to get started, survive and/or accelerate growth.

Shark Tank gives these aspiring Entrepreneurs the opportunity to pitch their business to a panel of 5 very successful and wealthy investors, all of whom have built massive companies. We have witnessed dozens of Entrepreneurs plead with the Sharks for an investment, sometimes striking a deal and other times walking out with nothing.

Below are some of the lessons I believe every Entrepreneur can learn from the Shark Tank:

Show the passion – Whether you are pitching to investors, talking to customers, or riding the elevator with some random stranger, the passion for your company should be evident. To become successful you better love what you’re doing otherwise it won’t keep you going when times get tough. Very rarely do Entrepreneurs leave the Shark Tank with an investment if they haven’t exhibited passion for their product or service.
Demonstrate some hustle – A consistent characteristic in every Entrepreneur is the ability to execute. Whether you’re building a product or going after new customers, prove that you can get things done. Don’t approach investors or enter the Shark Tank until you have shown a knack for creating value and the willingness to go the extra mile.
Have a strong team – I’m not saying that solo-founder companies can’t be successful but I guarantee investors will always prefer a cohesive team consisting of hard-working individuals with complimentary skills. If you’re an entrepreneur without an extensive background and cannot find the right co-founder, then surround yourself with great mentors and create an advisory board of knowledgeable & reliable business professionals.
Know your pitch – Doesn’t matter if you’re in the Shark Tank, at a cocktail party or sitting in the airport, you never know who you might run into and whether they might become a valuable asset to your business. You should always be able to explain what your company does in under 3 minutes and have the confidence to answer any questions. To have an effective and memorable pitch, be able to explain the problems your company is going to solve, how you’re going to solve them, the core competencies of your team and the value you’re bringing to the market.
Nice to have vs. Need to have – If you think about the most successful companies ever built, the overwhelming majority of them created products and services that were “need to have”. Every Entrepreneur should honestly ask themselves this question before investing their precious time, energy and money into a new idea. On the Shark Tank, this point is brought up quite frequently because it’s extremely hard to build a big business based on something that’s only “nice to have”.
Have a plan – I’ve never been a huge advocate for creating massive business plans because once you get started and things begin evolving, your fancy 50-page business plan becomes a useless stack of papers. However, I do recommend having an executive summary, business outline, market analysis, financial projections, investor presentation and marketing strategy. In the Shark Tank I’ve never seen an Entrepreneur whip out a business plan but you can usually tell who came prepared, did their research and methodically strategized about every little relevant detail.
Is your business scalable – One of the reasons we’ve seen internet companies, consumer web startups and mobile apps explode in the last few years with users and investors is because they’re easier models to scale than other businesses like manufacturing, food & beverage, retail, healthcare, etc. Leveraging the internet and mobile devices not only requires less capital but the ability to reach billions of potential customers every minute of every day. If you’re building a more traditional business, you’ll need to be mindful of the additional fixed and variable expenses, how your cost structure will be affected once you try to scale and the ability to keep operating margins strong and profitable.

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Jonah Lupton is a serial entrepreneur, advisor and investor. He is the founder of Cauzly.com, a new social fundraising & crowdfunding platform. Jonah is also the founder of NextGen Leaders Council, Inspired Futures Foundation, Parabolic Ventures and InterCapital Group. You can connect with Jonah at http://twitter.com/jonahlupton or http://facebook.com/jclupton

8 P’s of Successful Entrepreneurs

Posted on May 23, 2012 by jonahlupton

As I spend most of my days working with or speaking to different Entrepreneurs, from the 19-year old college student coding in their dorm room to the 65-year old entrepreneur jet-setting around the world. One of the questions that always pops up is “how or why did they become a successful?” Although I could easily spend the next 25 pages dissecting this question for sake of this blog post I’m going to highlight the “The 8 P’s of Successful Entrepreneurs”

Passion – this one too obvious not to mention first, because 99% of successful Entrepreneurs are overflowing with Passion for whatever project or venture they’re working on. Whether they’re building a technology company, starting a retail store or launching a pet care business, within 5 minutes of speaking to them you should hear the passion in their voice. They typically live, breathe and sleep whatever their passion is (for better or worse).

Persistence – some successful Entrepreneurs are insanely gifted or incredibly lucky and may never hear the word “no”, but that’s not typical. Most Entrepreneurs as they built their company were constantly bombarded with hardships, rejections and utter disappointments but that never stopped them from pursuing their dreams. I’ve always said “if it was easy, everyone would be doing it” and couldn’t be any more true than it is for Entrepreneurs.

Perspective – this can be learned and improved upon over time, as I personally continue to do in my own life. Perspective is critical for long-term success and happiness and not just applicable to entrepreneurs. Regardless of your profession, your age, your ambitions, etc, the ability to step back and have the proper, well-balanced perspective of your life, your business and your family will greatly increase your chances of being a successful entrepreneur. For many years I only focused on my career and it eventually made me miserable. In early 2011, I decided to leave behind my 10-year career in wealth management, and 6-months ago I began spending considerably more time with my family and as I result of both these decisions I have never been happier but it took Perspective for me to appreciate these decisions.

Perfection – this may seem like an overwhelming trait to include but when I’m looking to invest in an Entrepreneur it needs to be there on some level and I would presume most successful entrepreneurs would consider themselves a perfectionist. I’m not saying I expect an Entrepreneur to be perfect, because that’s not only unreasonable but probably impossible. However it’s quite fair to expect an Entrepreneur to strive for perfection, so even if they only get 90% of the way there, they’ve still done a damn good job and should be proud of themselves.

Potential –every successful entrepreneur had potential and they found a way to capitalize on it. On the surface these individuals may seem perfect, polished and untouchable but that doesn’t mean there’s not room for improvement. Even Bill Gates after building Microsoft into a $200 billion company still had weaknesses and areas of potential improvement. This is why entrepreneurs build advisory boards in addition to a formal Board of Directors, because they want to become better leaders, they want to reach their potential.

Pressure – can you handle it?? (because not everyone can). Throughout my career I have found the most successful entrepreneurs have a knack of excelling under pressure. Whether they learned it or were both with it, the ability to conquer difficult situations is an enviable characteristic. Whether you’re facing a tight deadline with a Business Partner, an issue with a large client, or some financial hurdle with investors, at some point your company’s future may hinge on the ability to make quick & confident decisions.

Place – I know this isn’t a characteristic like the ones above but I felt it was still worth adding to the list. There’s been much debate over where is the best place to build a company. The West Coast gets a lot of attention because of dozens of incredible success stories but the East Coast and other metropolitan areas of the U.S. also have large entrepreneurial communities and support systems just as strong. Entrepreneurs should focus on the necessary resources, advisory community, coworking spaces, accelerator/incubator programs and employee talent required to successfully build their company. Thanks to advancements in technology and communication devices, I don’t think the Place matters as much now as it did 15 years ago.

Personality – this trait can be overlooked but in my opinion personality is a great indicator of future success. I’m sure we all know successful people who are absolute jerks but honestly I think they’re in the minority. Personality may not matter when trying to attract investors but it will be when you are trying to attract and retain great employees. Nobody wants a boss who is constantly screaming at them, despite how much you might pay them or give them in stock options. Startups and high-growth companies already create stressful environments so the boss must learn to control their emotions and treat others with respect. Think about the top 25 Entrepreneurs in the U.S., these are people you would love to spend a day with because they genuinely seem like nice people, this is not a coincidence.

Best wishes on becoming the next successful Entrepreneur.

Boston’s Top Venture Backed Startups/Companies

Posted on May 23, 2012 by jonahlupton

If you think I may have missed any startups/companies just message me on Twitter at @jonahlupton or email at jonahlupton@gmail.com

My next blog post will be “Boston’s Best Angel-backed companies” so please start sending me recommendations.

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Appreciate the important people in your life

Posted on April 12, 2012 by jonahlupton

My friend shared this story on Facebook today and since it made my eyes tear up I figured it was certainly worth sharing with others…

Married or not you should read this…

“When I got home that night as my wife served dinner, I held her hand and said, I’ve got something to tell you. She sat down and ate quietly. Again I observed the hurt in her eyes.

Suddenly I didn’t know how to open my mouth. But I had to let her know what I was thinking. I want a divorce. I raised the topic calmly. She didn’t seem to be annoyed by my words, instead she asked me softly, why?

I avoided her question. This made her angry. She threw away the chopsticks and shouted at me, you are not a man! That night, we didn’t talk to each other. She was weeping. I knew she wanted to find out what had happened to our marriage. But I could hardly give her a satisfactory answer; she had lost my heart to Jane. I didn’t love her anymore. I just pitied her!

With a deep sense of guilt, I drafted a divorce agreement which stated that she could own our house, our car, and 30% stake of my company. She glanced at it and then tore it into pieces. The woman who had spent ten years of her life with me had become a stranger. I felt sorry for her wasted time, resources and energy but I could not take back what I had said for I loved Jane so dearly. Finally she cried loudly in front of me, which was what I had expected to see. To me her cry was actually a kind of release. The idea of divorce which had obsessed me for several weeks seemed to be firmer and clearer now.

The next day, I came back home very late and found her writing something at the table. I didn’t have supper but went straight to sleep and fell asleep very fast because I was tired after an eventful day with Jane. When I woke up, she was still there at the table writing. I just did not care so I turned over and was asleep again.

In the morning she presented her divorce conditions: she didn’t want anything from me, but needed a month’s notice before the divorce. She requested that in that one month we both struggle to live as normal a life as possible. Her reasons were simple: our son had his exams in a month’s time and she didn’t want to disrupt him with our broken marriage.

This was agreeable to me. But she had something more, she asked me to recall how I had carried her into out bridal room on our wedding day. She requested that every day for the month’s duration I carry her out of our bedroom to the front door ever morning. I thought she was going crazy. Just to make our last days together bearable I accepted her odd request.

I told Jane about my wife’s divorce conditions. . She laughed loudly and thought it was absurd. No matter what tricks she applies, she has to face the divorce, she said scornfully.

My wife and I hadn’t had any body contact since my divorce intention was explicitly expressed. So when I carried her out on the first day, we both appeared clumsy. Our son clapped behind us, daddy is holding mommy in his arms. His words brought me a sense of pain. From the bedroom to the sitting room, then to the door, I walked over ten meters with her in my arms. She closed her eyes and said softly; don’t tell our son about the divorce. I nodded, feeling somewhat upset. I put her down outside the door. She went to wait for the bus to work. I drove alone to the office.

On the second day, both of us acted much more easily. She leaned on my chest. I could smell the fragrance of her blouse. I realized that I hadn’t looked at this woman carefully for a long time. I realized she was not young any more. There were fine wrinkles on her face, her hair was graying! Our marriage had taken its toll on her. For a minute I wondered what I had done to her.

On the fourth day, when I lifted her up, I felt a sense of intimacy returning. This was the woman who had given ten years of her life to me. On the fifth and sixth day, I realized that our sense of intimacy was growing again. I didn’t tell Jane about this. It became easier to carry her as the month slipped by. Perhaps the everyday workout made me stronger.

She was choosing what to wear one morning. She tried on quite a few dresses but could not find a suitable one. Then she sighed, all my dresses have grown bigger. I suddenly realized that she had grown so thin, that was the reason why I could carry her more easily.

Suddenly it hit me… she had buried so much pain and bitterness in her heart. Subconsciously I reached out and touched her head.

Our son came in at the moment and said, Dad, it’s time to carry mom out. To him, seeing his father carrying his mother out had become an essential part of his life. My wife gestured to our son to come closer and hugged him tightly. I turned my face away because I was afraid I might change my mind at this last minute. I then held her in my arms, walking from the bedroom, through the sitting room, to the hallway. Her hand surrounded my neck softly and naturally. I held her body tightly; it was just like our wedding day.

But her much lighter weight made me sad. On the last day, when I held her in my arms I could hardly move a step. Our son had gone to school. I held her tightly and said, I hadn’t noticed that our life lacked intimacy. I drove to office…. jumped out of the car swiftly without locking the door. I was afraid any delay would make me change my mind…I walked upstairs. Jane opened the door and I said to her, Sorry, Jane, I do not want the divorce anymore.

She looked at me, astonished, and then touched my forehead. Do you have a fever? She said. I moved her hand off my head. Sorry, Jane, I said, I won’t divorce. My marriage life was boring probably because she and I didn’t value the details of our lives, not because we didn’t love each other anymore. Now I realize that since I carried her into my home on our wedding day I am supposed to hold her until death do us apart. Jane seemed to suddenly wake up. She gave me a loud slap and then slammed the door and burst into tears. I walked downstairs and drove away. At the floral shop on the way, I ordered a bouquet of flowers for my wife. The salesgirl asked me what to write on the card. I smiled and wrote, I’ll carry you out every morning until death do us apart.

That evening I arrived home, flowers in my hands, a smile on my face, I run up stairs, only to find my wife in the bed -dead. My wife had been fighting CANCER for months and I was so busy with Jane to even notice. She knew that she would die soon and she wanted to save me from the whatever negative reaction from our son, in case we push through with the divorce.— At least, in the eyes of our son—- I’m a loving husband….

The small details of your lives are what really matter in a relationship. It is not the mansion, the car, property, the money in the bank. These create an environment conducive for happiness but cannot give happiness in themselves.

So find time to be your spouse’s friend and do those little things for each other that build intimacy. Do have a real happy marriage!

If you don’t share this, nothing will happen to you.

If you do, you just might save a marriage. Many of life’s failures are people who did not realize how close they were to success when they gave up….