Startups

SBA Grant backs Small Business Growth in WNC

Posted by on Nov 18, 2014 in Startups

1×1 Media is excited to announce that co-founder-in-chief, Steve Poland, will be leading a significant small business training program called ScaleUP WNC. The program spans a total of 5 years and is backed by an SBA grant. The goal of ScaleUP WNC is to provide growth strategy development and implementation assistance to small businesses in the 23 western counties of North Carolina. Training sessions cover topics such as: Assessing early-stage growth opportunities Raising money by getting investor-ready or lender-ready Understanding the angel funding process Leveraging friends and family loans Gearing up for bank loans and other lending opportunities P&L, cash flow, and balance sheet management Developing a great funding pitch The program concludes with a Demo-day pitch event, giving participating entrepreneurs the chance to engage with angel investors, small business lenders, mentors, potential customers, and other startup supporters. Be sure to check out the detailed story on...

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A Cure for That Blank Look

Posted by on Aug 18, 2014 in Angel Funding, Startups, Valuation

It was my first meeting with a seasoned angel investor—a lead member of the Bluegrass Angels in Kentucky. I had my implementation plan pasted to the wall so it was easy to review. I had a detailed budget prepared detailing the costs for each phase of our plan. I had a list of our paying customers. I was ready. The conversation was going really well, until the angel asked me the question: “So what’s your pre-money valuation?” My response was a loose combination of ums and wells, and let’s just say the meeting ended politely enough. The Founder’s Pocket Guide: Startup Valuation is what I wish I had back then—simple, quick answers, all in one place. Check it out here at Amazon: Founder’s Pocket Guide: Startup...

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5 Startup Lessons I Learned While Becoming a Pilot

Posted by on Jul 1, 2014 in Goals, Investor Ready, Setbacks, Startups

As a recently licensed private pilot, I feel truly alive when flying a small plane. In a single flight I can feel pride, humility, fear, joy, and triumph. This list of feelings also crops up on a regular basis for my co-founder and me as we work to build our publishing startup, causing me to reflect on the similarities between learning to fly and building a startup. Here are my top five flying lessons that also apply to my startup efforts: 1. Practice, Fail, Learn. There is nothing stickier than a lesson learned by f’n it up the first few times. We had just landed, and the 1946 Champ rolled down the runway at good clip when my instructor told me to take over and taxi us back to the hanger. Feeling confident that we were safe on the ground, I took the stick. For the first few hundred feet I had things under control. In an instant, I felt the back end of the plane start to swing to the right. My instructor called for more right rudder, but I reacted too slowly. The plane made an abrupt left turn, the left wing dipped and almost struck the ground. Finally, the plane came to a quick stop sitting...

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