Shared Spaces Kickoff

Dan Morris started with a philosophical post (Working Spaces in a Knowledge Economy: Part 1) on shared spaces. I’m going to start in the trenches and work my way up.

I’m restarting my search for a mildly social workplace, one that doesn’t require me to submit to a manufactured ‘company culture’ or keep specific hours or write TPS reports. One that stimulates, challenges and gently corrects me as necessary.

When I realized that I was not suited to my (any?) job about 17 years ago, I had a fully equipped home office but did most of my work in clients’ offices. That worked well; I was in the Silicon Valley then and my clients had great amenities for employees and contractors alike. For example, Intuit’s culture encouraged everyone to join the Friday beer parties and most groups included contractors in their ship parties. I really enjoyed the breakfast burritos from the cafeteria too, and Fiesta Del Mar was right around the corner when I felt like eating some amazing mole poblano for lunch with a coworker or two. Many of my clients made working from their offices similarly attractive.

As I started working for distant companies as a remote worker, I did more of my work in my home office. With a new baby in the house, I was never completely ‘at work’. And with the computer just down the hall, I was rarely completely ‘at home’. It all worked out OK, but I didn’t feel as engaged in either role.

pdx-bike-train-signWhen we moved to Portland, Oregon in 2002, I separated work and home. My office was a small unit in the same high-rise where we lived, and we didn’t even have internet service at home. That was a great change, mostly. We moved out of that building in 2012 but I kept the office, commuting 20 minutes by streetcar each day. That really felt like ‘going to work’. But something was still missing.

What was missing from both my home office and my small remote office? Other people, aka coworkers.

In about 2008 I started making a concerted effort to meet the people around me who were doing similar or related work. Fortunately Portland is full of interesting and competent people! We’d meet groups of 2 to 12, in coffee shops and brewpubs and at the seemingly endless unconferences at CubeSpace to work or plan or just to have company while focusing on a task with our headphones on. Over time, some of those people have gotten jobs, some have started companies, and some of those have sold their companies so they can do it again. That core group of 15-20 people has fragmented, though I can safely say that we have all retained our high regard of each other.

Bureaucracy_is_a_Challenge_(4669115193)So I’m restarting my search for a mildly social workplace, one that doesn’t require me to submit to a manufactured ‘company culture’ or keep specific hours or write TPS reports. One that stimulates, challenges and gently corrects me as necessary. I don’t expect to get subsidized breakfast burritos again, but I do expect to find a great group of coworkers.

Startup Fundraising

Kurt Sussman, Neophiliac, cacpa, Mark Straub, Steve Goveia, Benson Yeung, Abram Kottmeier


2015 California Society of CPAs
Startup Business Conference

I recently moderated a panel on fundraising for startups. The panel was part of a California Society of CPAs conference which was a CPE event for CPAs. The panelists were:

  • Mark Straub, San Francisco, California Venture Capital & Private Equity
  • Steve Goveia, Global Head of Strategy and Business Development for NCORD Healthcare
  • Benson Yeung, Lifetime Entrepreneur & Non-Linear Thinker, San Francisco , Information Technology and Services
  • Abram Kottmeier, CEO at Grow Huge Inc., San Francisco Bay Area Internet

 

Kurt and Abram debriefingA couple things really stood out to me. First, in an email discussion a few days before the event Abram told me that he is always pitching. The result of this is that when he’s ready for funding he already knows who is a good fit to fund a particular type of business, and how to approach them to streamline the process. Abram is a little more outgoing than I am (this is an understatement), but the advantages of his approach are clear.

If you’re pitching and the questions are very broad, you’re at the less-fundable end of the stack ranking

The second gold nugget was a deeper description of a process smart investors use when evaluating a new and popular startup concept. When several startups approach a fund with similar but cutting-edge (and therefore relatively unknown) businesses, the investors research the teams and their approaches for the purpose of stack ranking them. They claim to be very good at this, rarely getting the companies out of order. Then they invite the companies to pitch in order from least fundable to most fundable. The less-fundable teams educate the investors so that by the time they get to the more-fundable teams, they understand the industry, market, and technology and can ask deeper questions. If you’re pitching and the questions are very broad, you’re at the less-fundable end of the stack ranking.

Fiction v.s. Reality

KurtWe also talked about the difference between what you see on Shark Tank and the reality of startup fundraising, the importance of telling a compelling story, and how VC has changed since the mid-90s. The panelists were all very knowledgeable and I enjoyed talking with them.