For a little while I was trying to raise fund for my company, which turned out to be fruitless. While I did that, I found out some interesting articles and online resources, and I wanted to share them with you. I do have my own del.cio.us bookmarks, but I figured it's better to place them all here with some explanation....
When It Comes to Innovation, Geography Is Destiny
Why location is everything when it comes to innovation......Pssst......the place is in the West Coast and where Fairchild Semiconductor seeded everything....
The 18 Mistakes that Kill Startups
I didn't know who Paul Graham was until I found this essay by him.... My company had #1 and #2 mistakes he listed. Not that his list is like a golden rule, but his reasoning made sense.
How to be Silicon Valley
This was a very interesting read. I liked Silicon Valley for other reasons like being close to ocean, mountains, Lake Tahoe, Santa Cruz, Monterey Bay, Half Moon Bay, San Francisco, Napa/Sonama Valley, etc... I wondered the same about that.... Like NY Times article mentioned, there were many domestic and international cities that tried to be the next Silicon Valley, but look where most high-tech innovations happen! There is no doubt there is something different about Silicon Valley, and I didn't see better reasons why than Paul Graham's...
Paul Graham's website and his essays
Actually, you should go ahead and check out his website.....as well as his essays.
Buildv1 - Connecting entrepreneurs
This is a really cool, under-utilized site for all aspiring entrepreneurs. It's like a classifieds for entrepreneurs. You can post your latest project and ask for help, or you have certain skills for startups, you can post them to hook up with an entrepreneur. I've used it and received many interests...... Whether you can find someone you can trust and work well together is whole another thing.
Art of the Start by Guy Kawasaki
I really enjoyed this book. While Guy Kawasaki looks like a sell-out and doesn't have mega successful company under his belt, this book is a must for all high-tech entrepreneurs. It's no-non-sense guide to entrepreneurs about how to build a team, raise a fund, etc. I really liked the book, because he said an entrepreneur should start building a product/service and delivering it instead of writing a business plan or pitching to investors. And that product or service had better bring in revenue as quickly as possible. Totally right. For startups, cash is king, and without cash, it will die. Faster revenue, the better. And unless you are Steve Jobs, still live in late 1990's or have a rich, generous uncle, no VC will fund your company based on just a business plan, however spectacular it is. VCs bet on jockeys, not on horse. And, good idea will fail if not executed correctly while bad idea can survive with excellent execution and probably some modification on the way.
Ask the VC
This blog is founded by two venture capitalists, Brad Feld and Jason Mendelson at Mobius Venture Capital. What's cool about the blog site is that they actually do answer your emails!
VentureBeat
This is an excellent site if you want to be plugged into news about (mostly) Silicon Valley startup. It most deals with who's gotten funded and how much..., but sometimes it has juicy stories about startups in general.
Rent-A-Coder and eLance
If you are looking to outsource, rent-a-coder and elance are probably two major "brokering" sites. It's free for a user to post his/her project, and outsource companies (mostly offshore, but some domestic) bid for the project. I've used the rent-a-coder but didn't use a company through there because I've had a company that was personally referred to me.
FundingUniverse, Go Big Network, The Angel Journal
I can't personally vouch for these websites, since I wasn't successful in securing funds using them. But, who knows? Some entrepreneur may have better luck with them.
Tuesday, March 27, 2007
Friday, March 23, 2007
Google Interview
In my quest for a full-time job, I submitted numerous resumes to Google. I also had a friend of mine working at Google to forward my resume for me. Since Google is in completely different industry than my background/experience, it was a long shot. I did web search on Google interview, and most were for technical questions. I didn't find any for non-technical interview.
Why Google? Not only it is the hottest company, but Google is in best position to challenge many old business models. Is Google an ad company? Perhaps... 99% of its revenue is from ads placed in Google sites. Google is also trying to expand ad channels into radio, TV and games. However, I think its technology can be used to really revolutionize computing. I am not a big fan of Microsoft or its monstrous operating system or its bully tactics on competitors. Linux and general Unix flavors are all stable because their kernels are small, efficient and do whatever they are supposed to do well. Microsoft's operating systems are kernel plus too much junk. Anyhow, it won't be long until we have pervasive connection to the network and an efficient computing device with solid-state storage, small OS and a web browser. Most applications would be available online, as many so-called "software-as-a-service" promises. Key is to have applications available offline as well, and it would be just a matter of time until it is possible.
Anyhow, back to my story... I did get a phone interview scheduled. It was supposed to be about 45-minutes long. Since it was for a product marketing position, I did a lot of research behind Google products and their business model. But, the interviewer completely threw me off with unexpected questions such as how Internet would change in five years or how search would change in five years. I never recovered from them and I totally bombed the interview. As expected, I got a "Thank you, but no thank you" letter soon.
I was disappointed, but not so terribly, since I was rejected in the first interview. Then strangely enough, I've received another "first phone interview" email from the same Google recruiter who had sent me the very first phone interview request. I was pretty sure it was a mistake and sooner or later they will find out. I pretended as if I never had a Google phone interview and replied the email. Surprisingly, I had another "first" phone interview scheduled. This time, it was with different interviewer and I did alright....perhaps because this interviewer asked different and perhaps more relevant questions.
Since I would be in the SF bay area for a personal reason the following week, I asked whether they could arrange an on-site interview. From what I have heard, Google interview takes long and I honestly didn't expect them to arrange it so quickly. They did, and I came in for an interview. Interview schedule was long, from 11 AM to 4:30 PM, talking to 6 or 8 different folks. I saw on the schedule that one of the interviewers was going to be the person who interviewed in the very first phone interview.......and gave a thumbs down. Most of interviewers asked a little about my experience and a lot of hypothetical questions....like if I were a product marketing manager of this product, what your marketing plan would look like, how would you make it better, etc. They also dig deeper based on your response....like computerized GMAT questions. I don't know if you could really prepare for such interviews.... You have to think so quickly on the feet. It could come from mostly your relevant experiences.....and background.....and knowing what works and what doesn't, etc... Of course, the first phone interviewer....who I wasn't sure would recognize me or not. But s/he asked the same questions.... It could be that s/he didn't recognize me or that s/he wanted to see if I prepared for him/her. I don't know if it was the pressure to win this person over, I did the worst with this interviewer.
Overall, I enjoyed the challenging conversations... They were fair and seemed like questions they all have to answer day in and day out. It would have been fun and rewarding to work for Google. In retrospect, though, I think I should have been more forthcoming with what I have been doing since my last job. I just told them I enjoyed spending time with my family. I didn't mention anything about my own business venture......, but I was afraid that I could be seen as a quitter, a failure, or someone who would quit anytime to pursue other ventures.... Oh, well.... Hindsight is always 20/20....., but who knows what really caused the rejection? Perhaps it was to do with all my answers.
The next week, I got a form "Thank you, but no thank you" email.....once again. This 2nd chance came out of nowhere and I was so lucky to get an on-site interview scheduled so quickly, but I couldn't capitalize it. I am so depressed about it. But, no time to waste. I need to find a job quickly.
Off I go!
Why Google? Not only it is the hottest company, but Google is in best position to challenge many old business models. Is Google an ad company? Perhaps... 99% of its revenue is from ads placed in Google sites. Google is also trying to expand ad channels into radio, TV and games. However, I think its technology can be used to really revolutionize computing. I am not a big fan of Microsoft or its monstrous operating system or its bully tactics on competitors. Linux and general Unix flavors are all stable because their kernels are small, efficient and do whatever they are supposed to do well. Microsoft's operating systems are kernel plus too much junk. Anyhow, it won't be long until we have pervasive connection to the network and an efficient computing device with solid-state storage, small OS and a web browser. Most applications would be available online, as many so-called "software-as-a-service" promises. Key is to have applications available offline as well, and it would be just a matter of time until it is possible.
Anyhow, back to my story... I did get a phone interview scheduled. It was supposed to be about 45-minutes long. Since it was for a product marketing position, I did a lot of research behind Google products and their business model. But, the interviewer completely threw me off with unexpected questions such as how Internet would change in five years or how search would change in five years. I never recovered from them and I totally bombed the interview. As expected, I got a "Thank you, but no thank you" letter soon.
I was disappointed, but not so terribly, since I was rejected in the first interview. Then strangely enough, I've received another "first phone interview" email from the same Google recruiter who had sent me the very first phone interview request. I was pretty sure it was a mistake and sooner or later they will find out. I pretended as if I never had a Google phone interview and replied the email. Surprisingly, I had another "first" phone interview scheduled. This time, it was with different interviewer and I did alright....perhaps because this interviewer asked different and perhaps more relevant questions.
Since I would be in the SF bay area for a personal reason the following week, I asked whether they could arrange an on-site interview. From what I have heard, Google interview takes long and I honestly didn't expect them to arrange it so quickly. They did, and I came in for an interview. Interview schedule was long, from 11 AM to 4:30 PM, talking to 6 or 8 different folks. I saw on the schedule that one of the interviewers was going to be the person who interviewed in the very first phone interview.......and gave a thumbs down. Most of interviewers asked a little about my experience and a lot of hypothetical questions....like if I were a product marketing manager of this product, what your marketing plan would look like, how would you make it better, etc. They also dig deeper based on your response....like computerized GMAT questions. I don't know if you could really prepare for such interviews.... You have to think so quickly on the feet. It could come from mostly your relevant experiences.....and background.....and knowing what works and what doesn't, etc... Of course, the first phone interviewer....who I wasn't sure would recognize me or not. But s/he asked the same questions.... It could be that s/he didn't recognize me or that s/he wanted to see if I prepared for him/her. I don't know if it was the pressure to win this person over, I did the worst with this interviewer.
Overall, I enjoyed the challenging conversations... They were fair and seemed like questions they all have to answer day in and day out. It would have been fun and rewarding to work for Google. In retrospect, though, I think I should have been more forthcoming with what I have been doing since my last job. I just told them I enjoyed spending time with my family. I didn't mention anything about my own business venture......, but I was afraid that I could be seen as a quitter, a failure, or someone who would quit anytime to pursue other ventures.... Oh, well.... Hindsight is always 20/20....., but who knows what really caused the rejection? Perhaps it was to do with all my answers.
The next week, I got a form "Thank you, but no thank you" email.....once again. This 2nd chance came out of nowhere and I was so lucky to get an on-site interview scheduled so quickly, but I couldn't capitalize it. I am so depressed about it. But, no time to waste. I need to find a job quickly.
Off I go!
Thursday, March 22, 2007
Starting a company is hard....
I worked in overseas last couple of years. The experience was strange. I worked in my mother country, but it made it worse for me. If I have an advice for any Asian American thinking about going back to his/her mother country and working there, I would strongly discourage it.... Reason? That's for another post.
While I was preparing to come back, I had an idea for a social networking company and decided to go for it. Social networking market has so many possibilities for niche markets, and combined with my recent experience, I would have a shot at it. With some but not a lot of money saved, I wanted to release a beta version if two months. That was about six months ago. Now, I have given up on the quest. Why? There are several reasons.
1. No co-founder
In the beginning, there was sort of a co-founder. I established good relationship with this guy who worked at the largest software company and had entrepreneurial mind. When I pitched my idea, he liked it and wanted to be in the game. Plan was that he would take care of all the technical stuff, while I do non-technical stuff. Working at a software company and being a software engineer before, I though he would be perfect for the job. Only problem was that he had his family and couldn't leave his full-time job until something solid (early funding) happens. As time went on, it was obvious that he could not put as much as time he had hoped into the new venture. He had a full-time job and family. I had a family, too, but I was committed 100% to the venture. So, about a couple of months into it, he pulled out.
I don't blame him, though. As a father and a husband, I know it's tough thing not to be able to support the family. I could have stopped then, but I wanted to keep going. I didn't want to give up too easily. So, I decided to use an offshore company and contract the website development out. I found a company, actually, through ex-co-founder. While I was discussing terms with them and looking for a lawyer, I also looked for another co-founder. But it proved to be much difficult.
Not only that I had to sell my idea (but I was pretty used to it by then), I had to make sure there was compatibility. When running a start-up, things would get tough at times, and I needed to make sure that things would work out. Also, I didn't have any money to pay....except equity of the company. How do I determine what percentage is appropriate to a total stranger with no prior working relationship? Indeed, when I looked at many companies, they were all started by ex-colleagues or school friends. With no proven chemistry, it would have been tough to trust any stranger. Another thing I found out was that many entrepreneurs or to-be-entrepreneurs had their own ideas to pursue. Instead of pitching my idea, I found myself being pitched to several times.
2. No relevant experience/No track record/No stellar management team
This is pretty obvious, but when I approached investors with my idea, they all gave me the same answer. This also proves that they never say no! They told me that they liked the idea and target market, but with no relevant experience (my background is in data networking, not consumer website), track record nor A-team management team, they could invest in me and my idea. Since a good idea will fail in the market with poor execution, they were absolutely right. However, with all their contacts, if they really thought it was a good idea, they probably found a way to invest.... They also told me that if I could build the website and show early success, they could talk about funding seriously. It led me to use my funds to build a beta website.
3. Inadequate funding
Without cash, a startup will die. I had only small bit of savings, and I had to use it to run the company, pay for website development and support family at the same time. My financial resources were depleting fast. So, I picked pitching to investor route first. When it didn't go anywhere and with no co-founder, I picked offshore development route. But, it was too late. I needed to bring in income soon. If I had won the lottery or had inherited large sum or had ultra rich and generous uncle, it would have been a different story.
4. Family
Family also put a lot of pressure on me. Kids are too young to understand and my wife supported me 100%, but it was always me. I felt like an inadequate father and husband. Things we had to cut back and things we had to forgo.... While I was pursuing my dream full-time, that constant stream of income called "paycheck" was really tempting at many occasions....
5. Keeping energy and optimistic level high
There are so many obstacles one faces when starting a company that I almost think it's a race of who can last longest, and to last longest you have to keep energy and optimistic level high all the time. A little bit of doubt will slowly eat you away. I guess that's why it's important to have mentors and perhaps multiple co-founders, who can give you a pep-talk whenever you are down....
So, I've started looking for a full-time job this month and have had several phone interviews and a few on-site interviews. My next post would be about one of those on-site interviews.
While I was preparing to come back, I had an idea for a social networking company and decided to go for it. Social networking market has so many possibilities for niche markets, and combined with my recent experience, I would have a shot at it. With some but not a lot of money saved, I wanted to release a beta version if two months. That was about six months ago. Now, I have given up on the quest. Why? There are several reasons.
1. No co-founder
In the beginning, there was sort of a co-founder. I established good relationship with this guy who worked at the largest software company and had entrepreneurial mind. When I pitched my idea, he liked it and wanted to be in the game. Plan was that he would take care of all the technical stuff, while I do non-technical stuff. Working at a software company and being a software engineer before, I though he would be perfect for the job. Only problem was that he had his family and couldn't leave his full-time job until something solid (early funding) happens. As time went on, it was obvious that he could not put as much as time he had hoped into the new venture. He had a full-time job and family. I had a family, too, but I was committed 100% to the venture. So, about a couple of months into it, he pulled out.
I don't blame him, though. As a father and a husband, I know it's tough thing not to be able to support the family. I could have stopped then, but I wanted to keep going. I didn't want to give up too easily. So, I decided to use an offshore company and contract the website development out. I found a company, actually, through ex-co-founder. While I was discussing terms with them and looking for a lawyer, I also looked for another co-founder. But it proved to be much difficult.
Not only that I had to sell my idea (but I was pretty used to it by then), I had to make sure there was compatibility. When running a start-up, things would get tough at times, and I needed to make sure that things would work out. Also, I didn't have any money to pay....except equity of the company. How do I determine what percentage is appropriate to a total stranger with no prior working relationship? Indeed, when I looked at many companies, they were all started by ex-colleagues or school friends. With no proven chemistry, it would have been tough to trust any stranger. Another thing I found out was that many entrepreneurs or to-be-entrepreneurs had their own ideas to pursue. Instead of pitching my idea, I found myself being pitched to several times.
2. No relevant experience/No track record/No stellar management team
This is pretty obvious, but when I approached investors with my idea, they all gave me the same answer. This also proves that they never say no! They told me that they liked the idea and target market, but with no relevant experience (my background is in data networking, not consumer website), track record nor A-team management team, they could invest in me and my idea. Since a good idea will fail in the market with poor execution, they were absolutely right. However, with all their contacts, if they really thought it was a good idea, they probably found a way to invest.... They also told me that if I could build the website and show early success, they could talk about funding seriously. It led me to use my funds to build a beta website.
3. Inadequate funding
Without cash, a startup will die. I had only small bit of savings, and I had to use it to run the company, pay for website development and support family at the same time. My financial resources were depleting fast. So, I picked pitching to investor route first. When it didn't go anywhere and with no co-founder, I picked offshore development route. But, it was too late. I needed to bring in income soon. If I had won the lottery or had inherited large sum or had ultra rich and generous uncle, it would have been a different story.
4. Family
Family also put a lot of pressure on me. Kids are too young to understand and my wife supported me 100%, but it was always me. I felt like an inadequate father and husband. Things we had to cut back and things we had to forgo.... While I was pursuing my dream full-time, that constant stream of income called "paycheck" was really tempting at many occasions....
5. Keeping energy and optimistic level high
There are so many obstacles one faces when starting a company that I almost think it's a race of who can last longest, and to last longest you have to keep energy and optimistic level high all the time. A little bit of doubt will slowly eat you away. I guess that's why it's important to have mentors and perhaps multiple co-founders, who can give you a pep-talk whenever you are down....
So, I've started looking for a full-time job this month and have had several phone interviews and a few on-site interviews. My next post would be about one of those on-site interviews.
Who am I?
Hi!
I don't know why you want to read my story, but I felt a need to chronicle my journey somewhere...albeit anonymously, and this day and age Internet would be a good place.
Who am I? Let's see what words can describe me....
Man, in the 30's, married, tall, two kids, wife, Asian American, 1.5 generation, aspiring entrepreneur, used to be an engineer, now trying to be product marketing professional, wears glasses (which asian americans don't?), wants/likes something different, independent/foreign films, athletic (or I think I am), etc.
That should basically describe me...
I don't know why you want to read my story, but I felt a need to chronicle my journey somewhere...albeit anonymously, and this day and age Internet would be a good place.
Who am I? Let's see what words can describe me....
Man, in the 30's, married, tall, two kids, wife, Asian American, 1.5 generation, aspiring entrepreneur, used to be an engineer, now trying to be product marketing professional, wears glasses (which asian americans don't?), wants/likes something different, independent/foreign films, athletic (or I think I am), etc.
That should basically describe me...
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