What do you think?
Rate this book
Straight Talk for Startups: 100 Insider Rules for Beating the Odds-from Mastering the Fundamentals to Selecting Investors, Fundraising, Managing Boards, and Achieving Liquidity
"Straight Talk for Startups memorializes age-old best practices and empowers both experienced and new investment professionals to beat the odds."—David Krane, CEO, Google Ventures
"Straight Talk for Startups is filled with real, raw, and fact-based ‘rules of the road’ that you need to know when diving into our ultra-competitive startup world. A must read and a re-read!"—Tony Fadell, Coinventor of the iPod/iPhone & Founder of Nest Labs
Veteran venture capitalist Randy Komisar and finance executive Jantoon Reigersman share no-nonsense, counterintuitive guidelines to help anyone build a successful startup.
Over the course of their careers, Randy Komisar and Jantoon Reigersman continue to see startups crash and burn because they forget the timeless lessons of entrepreneurship.
But, as Komisar and Reigersman show, you can beat the odds if you quickly learn what insiders know about what it takes to build a healthy foundation for a thriving venture. In Straight Talk for Startups they walk budding entrepreneurs through 100 essential rules—from pitching your idea to selecting investors to managing your board to deciding how and when to achieve liquidity. Culled from their own decades of experience, as well as the experiences of their many successful colleagues and friends, the rules are organized under broad topics, from "Mastering the Fundamentals" and "Selecting the Right Investors," to "The Ideal Fundraise," "Building and Managing Effective Boards," and "Achieving Liquidity."
Vital rules you’ll find in Straight Talk for Startups include:
The best ideas originate from founders who are users
Create two business plans: an execution plan and an aspirational plan
Net income is an option, but cash flow is a fact
Don’t accept money from strangers
Personal wealth doesn’t equal good investing
Small boards are better than big ones
Add independent board members for expertise and objectivity
Too many unanimous board decisions are a sign of trouble
Choose an acquirer, don’t wait to be chosen
Learn the rules by heart so you know when to break them
Filled with helpful real-life examples and specific, actionable advice, Straight Talk for Startups is the ideal handbook for anyone running, working for, or thinking about creating a startup, or just curious about what makes high-potential ventures tick.
"Straight Talk for Startups is filled with real, raw, and fact-based ‘rules of the road’ that you need to know when diving into our ultra-competitive startup world. A must read and a re-read!"—Tony Fadell, Coinventor of the iPod/iPhone & Founder of Nest Labs
Veteran venture capitalist Randy Komisar and finance executive Jantoon Reigersman share no-nonsense, counterintuitive guidelines to help anyone build a successful startup.
Over the course of their careers, Randy Komisar and Jantoon Reigersman continue to see startups crash and burn because they forget the timeless lessons of entrepreneurship.
But, as Komisar and Reigersman show, you can beat the odds if you quickly learn what insiders know about what it takes to build a healthy foundation for a thriving venture. In Straight Talk for Startups they walk budding entrepreneurs through 100 essential rules—from pitching your idea to selecting investors to managing your board to deciding how and when to achieve liquidity. Culled from their own decades of experience, as well as the experiences of their many successful colleagues and friends, the rules are organized under broad topics, from "Mastering the Fundamentals" and "Selecting the Right Investors," to "The Ideal Fundraise," "Building and Managing Effective Boards," and "Achieving Liquidity."
Vital rules you’ll find in Straight Talk for Startups include:
The best ideas originate from founders who are users
Create two business plans: an execution plan and an aspirational plan
Net income is an option, but cash flow is a fact
Don’t accept money from strangers
Personal wealth doesn’t equal good investing
Small boards are better than big ones
Add independent board members for expertise and objectivity
Too many unanimous board decisions are a sign of trouble
Choose an acquirer, don’t wait to be chosen
Learn the rules by heart so you know when to break them
Filled with helpful real-life examples and specific, actionable advice, Straight Talk for Startups is the ideal handbook for anyone running, working for, or thinking about creating a startup, or just curious about what makes high-potential ventures tick.
Unknown Binding
106 people are currently reading
649 people want to read
About the author
Randy Komisar
8 books43 followersRandy Komisar joined Kleiner Perkins in 2005 and focuses on early-stage investing.
Previously, he was a co-founder of Claris Corp., served as CEO for LucasArts Entertainment and Crystal Dynamics, and acted as “virtual CEO” for such companies as WebTV and GlobalGiving. Randy also served as CFO of GO Corp. and as senior counsel for Apple Computer, following a private practice in technology law.
Randy is a founding director of TiVo and serves on the Roadtrip Nation Advisory Board and Orrick’s Women’s Leadership Board. He is the author of the best-selling book The Monk and the Riddle, as well as several articles on leadership and entrepreneurship. He is also the co-author of Straight Talk for Startups, the insider best practices for entrepreneurial success, Getting to Plan B, on managing innovation, and I F**king Love that Company, on building consumer brands. Randy frequently speaks in the United States and abroad on such topics. Randy holds a B.A. degree in economics from Brown University and a J.D. from Harvard Law School.
Previously, he was a co-founder of Claris Corp., served as CEO for LucasArts Entertainment and Crystal Dynamics, and acted as “virtual CEO” for such companies as WebTV and GlobalGiving. Randy also served as CFO of GO Corp. and as senior counsel for Apple Computer, following a private practice in technology law.
Randy is a founding director of TiVo and serves on the Roadtrip Nation Advisory Board and Orrick’s Women’s Leadership Board. He is the author of the best-selling book The Monk and the Riddle, as well as several articles on leadership and entrepreneurship. He is also the co-author of Straight Talk for Startups, the insider best practices for entrepreneurial success, Getting to Plan B, on managing innovation, and I F**king Love that Company, on building consumer brands. Randy frequently speaks in the United States and abroad on such topics. Randy holds a B.A. degree in economics from Brown University and a J.D. from Harvard Law School.
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 21 of 21 reviews
June 21, 2018
With subtitle 100 Insider Rules for Beating the Odds--From Mastering the Fundamentals to Selecting Investors, Fundraising, Managing Boards, and Achieving Liquidity, Randy Komisar has an ambitious goal in writing his new book Straight Talk for Startups and he executes!
Komisar is a Silicon Valley veteran (and brilliant) investor. I have already mentioned here his previous books, The Monk and The Riddle and Getting to Plan B, as well as many of his. In his new book, he is trying to give precious advice because "entrepreneurs today don't have the luxury of learning by trail and error." [page xix of the introduction]. The Times They Are A-Changin' and the stakes are just too high...So Komisar gives "the crucial things, like creating two financial plans, not one; hiring part-time epxerts rather than full-time trainees; knowing what to measure and the pitfalls of doing it too early: and the criticality of unit economics and working capital." [Page 1]. I have to admit I was a little surprised with reading the previous sentence, but after discovering the next first rules, Komisar convinced me again.
If you do not have any time for reading the book, which would be a real pity, at least have a look at his 100 rules. Here are the first 28 form his Part 1 - Mastering the fundamentals:
#1: starting a venture has never been easier, succeeding has never been harder
#2: try to act normal
#3: aim for an order-of-magnitude improvement
#4: start small, but be ambitious
#5: most failures result from poor execution, not unsuccessful innovation
#6: the best ideas originate with founders who are users
#7: don't scale your technology until it works
#8: manage with maniacal focus
#9: target fast-growing, dynamic markets
#10: never hire the second best
#11: conduct your hiring as if you were an airline pilot
#12: a part-time expert is preferable to a full-time seat filler
#13: maage your team like a jazz band
#14: instead of a free lunch, provide meaningful work
#15: teams of professionals with a common mission make the most attractive investments
#16: use your financials to tell your story
#17: create two business plans: an execution élan and an aspirational plan
#18: know your financial numbers and their interdependencies by heart
#19: net income is an opinion,, but cash flow is a fact
#20: unit economics tell you whether you have a business
#21: manage working capital as if it were your only source of funds
#22: exercise the strictest financial discipline
#23: always be frugal!
#24: to get where you are going, you need to know where you are going
#25: measurements comes with pitfalls
#26: operational setbacks require swift and deep cutbacks
#27: save surprises for birthdays, not for you stakeholders
#28: strategic pivots offer silver linings
It is a great complement to Measure What Matters by John Doerr and the proof (if what was needed) of how great great venture capitalists are...!
More to come when I am finished.
Komisar is a Silicon Valley veteran (and brilliant) investor. I have already mentioned here his previous books, The Monk and The Riddle and Getting to Plan B, as well as many of his. In his new book, he is trying to give precious advice because "entrepreneurs today don't have the luxury of learning by trail and error." [page xix of the introduction]. The Times They Are A-Changin' and the stakes are just too high...So Komisar gives "the crucial things, like creating two financial plans, not one; hiring part-time epxerts rather than full-time trainees; knowing what to measure and the pitfalls of doing it too early: and the criticality of unit economics and working capital." [Page 1]. I have to admit I was a little surprised with reading the previous sentence, but after discovering the next first rules, Komisar convinced me again.
If you do not have any time for reading the book, which would be a real pity, at least have a look at his 100 rules. Here are the first 28 form his Part 1 - Mastering the fundamentals:
#1: starting a venture has never been easier, succeeding has never been harder
#2: try to act normal
#3: aim for an order-of-magnitude improvement
#4: start small, but be ambitious
#5: most failures result from poor execution, not unsuccessful innovation
#6: the best ideas originate with founders who are users
#7: don't scale your technology until it works
#8: manage with maniacal focus
#9: target fast-growing, dynamic markets
#10: never hire the second best
#11: conduct your hiring as if you were an airline pilot
#12: a part-time expert is preferable to a full-time seat filler
#13: maage your team like a jazz band
#14: instead of a free lunch, provide meaningful work
#15: teams of professionals with a common mission make the most attractive investments
#16: use your financials to tell your story
#17: create two business plans: an execution élan and an aspirational plan
#18: know your financial numbers and their interdependencies by heart
#19: net income is an opinion,, but cash flow is a fact
#20: unit economics tell you whether you have a business
#21: manage working capital as if it were your only source of funds
#22: exercise the strictest financial discipline
#23: always be frugal!
#24: to get where you are going, you need to know where you are going
#25: measurements comes with pitfalls
#26: operational setbacks require swift and deep cutbacks
#27: save surprises for birthdays, not for you stakeholders
#28: strategic pivots offer silver linings
It is a great complement to Measure What Matters by John Doerr and the proof (if what was needed) of how great great venture capitalists are...!
More to come when I am finished.
December 30, 2021
О ЧЕМ КНИГА:
Разбор принципов успеха во всех ключевых областях построения стартапа. Наверное главная книга для тех кто создает свой стартап. Книга написана легко и в каждой из 100 коротких глав разбирается один важный элемент бизнеса. Рекомендую эту работу к обязательному прочтению всем своим студентам в Стартап Академии БШ Сколково.
Отдельная часть книги рассказывает как выстроить Совет Директоров в стартапе. Очень важная тема, про которую многие почему-то забывают.
ГЛАВНАЯ МЫСЛЬ КНИГИ:
При построении стартапа есть четкие и понятные правила и законы. Чтобы ваш бизнес выжил, лучше их не нарушать.
Но даже если вы хотите нарушать правила, надо сначала их выучить.
ЗАЧЕМ ЧИТАТЬ ЭТУ КНИГУ?
Чтобы разобраться во всех шагах создания стартапа.
МЫСЛИ И ВЫВОДЫ ИЗ КНИГИ:
- Никогда не было так легко начать новый бизнес; но и никогда не было так тяжело построить успешный бизнес.
- Основателю надо четко различать три роли в бизнесе: изобретателя - предпринимателя и СЕО.
- Для успешного создания продукта в компании нужна не демократия, а диктатура.
- «Many entrepreneurs target existing, large markets, because that is where the money is—or so it seems. But the typical mature market has five to seven relevant competitors, of which two generally capture more than 70 percent of the profits and therefore can out-invest the others. The competitive barriers to a new entrant are daunting. This is why an order-of-magnitude innovation is so important: you will need an unfair advantage to disrupt the status quo.
- However, it is best to avoid biting off too much too soon. Instead, target smaller, specialized, higher-margin entry markets where you can establish a foothold. Focus on becoming the leader within a market segment poised for fast growth, and expand from there.»
- Покажите мне бюджет вашего стартапа и я расскажу вам вашу стратегию.
- Стартапу на всё денег не хватит. Нужно понимать в какие составляющие бизнеса надо качественно вкладываться сразу, уже на первом этапе создания, а какие можно пока пропустить.
- Пивот - это не поражение. Это еще одна возможность создать новую ценность.
- Бизнес-инкубатор нужен не для построения бизнеса, а получения связей.
- Личное богатство и бизнес опыт не означают, что этот человек хороший инвестор.
- Начинайте делать питч-дек для следующего раунда инвестиций на следующий день после того, как подняли текущий раунд.
- Переговоры об инвестициях - хороший способ для предпринимателя и инвестора понять характеры и подходы друг друга.
- Никогда не останавливайте фандрайзинг.
- Хороший Совет Директоров - это ценный актив для стартапа. Плохой Совет Директоров - это потенциальная угроза для компании, которая её может и погубить. Надо быть очень внимательным в выборе его участников.
- Сильные лидеры и предприниматели часто неэффективные участники Совета Директоров.
- На определенном этапе развития бизнеса многим основателям надо перестатать цепляться за должность СЕО. Лучше оставаться прекрасным предпринимателем, чем средним СЕО.
ЧТО Я БУДУ ПРИМЕНЯТЬ:
Начну смотреть все питч-деки со слайдов описывающих размер рынка и прогнозы его роста на ближайшие годы. Только после этого буду переходить к изучению продукта, бизнес-модели и команды стартапа.
ЕЩЕ НА ЭТУ ТЕМУ:
Рэнди Комисар «Поиск бизнес-модели»
Разбор принципов успеха во всех ключевых областях построения стартапа. Наверное главная книга для тех кто создает свой стартап. Книга написана легко и в каждой из 100 коротких глав разбирается один важный элемент бизнеса. Рекомендую эту работу к обязательному прочтению всем своим студентам в Стартап Академии БШ Сколково.
Отдельная часть книги рассказывает как выстроить Совет Директоров в стартапе. Очень важная тема, про которую многие почему-то забывают.
ГЛАВНАЯ МЫСЛЬ КНИГИ:
При построении стартапа есть четкие и понятные правила и законы. Чтобы ваш бизнес выжил, лучше их не нарушать.
Но даже если вы хотите нарушать правила, надо сначала их выучить.
ЗАЧЕМ ЧИТАТЬ ЭТУ КНИГУ?
Чтобы разобраться во всех шагах создания стартапа.
МЫСЛИ И ВЫВОДЫ ИЗ КНИГИ:
- Никогда не было так легко начать новый бизнес; но и никогда не было так тяжело построить успешный бизнес.
- Основателю надо четко различать три роли в бизнесе: изобретателя - предпринимателя и СЕО.
- Для успешного создания продукта в компании нужна не демократия, а диктатура.
- «Many entrepreneurs target existing, large markets, because that is where the money is—or so it seems. But the typical mature market has five to seven relevant competitors, of which two generally capture more than 70 percent of the profits and therefore can out-invest the others. The competitive barriers to a new entrant are daunting. This is why an order-of-magnitude innovation is so important: you will need an unfair advantage to disrupt the status quo.
- However, it is best to avoid biting off too much too soon. Instead, target smaller, specialized, higher-margin entry markets where you can establish a foothold. Focus on becoming the leader within a market segment poised for fast growth, and expand from there.»
- Покажите мне бюджет вашего стартапа и я расскажу вам вашу стратегию.
- Стартапу на всё денег не хватит. Нужно понимать в какие составляющие бизнеса надо качественно вкладываться сразу, уже на первом этапе создания, а какие можно пока пропустить.
- Пивот - это не поражение. Это еще одна возможность создать новую ценность.
- Бизнес-инкубатор нужен не для построения бизнеса, а получения связей.
- Личное богатство и бизнес опыт не означают, что этот человек хороший инвестор.
- Начинайте делать питч-дек для следующего раунда инвестиций на следующий день после того, как подняли текущий раунд.
- Переговоры об инвестициях - хороший способ для предпринимателя и инвестора понять характеры и подходы друг друга.
- Никогда не останавливайте фандрайзинг.
- Хороший Совет Директоров - это ценный актив для стартапа. Плохой Совет Директоров - это потенциальная угроза для компании, которая её может и погубить. Надо быть очень внимательным в выборе его участников.
- Сильные лидеры и предприниматели часто неэффективные участники Совета Директоров.
- На определенном этапе развития бизнеса многим основателям надо перестатать цепляться за должность СЕО. Лучше оставаться прекрасным предпринимателем, чем средним СЕО.
ЧТО Я БУДУ ПРИМЕНЯТЬ:
Начну смотреть все питч-деки со слайдов описывающих размер рынка и прогнозы его роста на ближайшие годы. Только после этого буду переходить к изучению продукта, бизнес-модели и команды стартапа.
ЕЩЕ НА ЭТУ ТЕМУ:
Рэнди Комисар «Поиск бизнес-модели»
November 28, 2019
A great book for anyone wanting to start their own startup from scratch.
It's 100 practical points, all of which are 2-4 pages of content. Perfectly condensed, with enough reading to understand the point before continuing. I wish more business'y books were structured like this.
It's 100 practical points, all of which are 2-4 pages of content. Perfectly condensed, with enough reading to understand the point before continuing. I wish more business'y books were structured like this.
February 28, 2019
Condensed wisdom for anyone interested in startups and venture capital. The book focuses on finance and governance, but it does it so well, you will keep reading even if you hoped for some rules on product development, engineering, operations, marketing, sales, internal organization or leadership, to name a few other critical success factors.
You will not achieve success as a startup by focusing on finance and governance alone, but you can easily fail by making mistakes in these domains. Valuable lessons.
You will not achieve success as a startup by focusing on finance and governance alone, but you can easily fail by making mistakes in these domains. Valuable lessons.
April 21, 2020
This book has a good summary for an early-stage startup founder on what to focus. It covers aspects like hiring, fundraising, testing ideas, managing boards and many more.
Though, some of the things are repeated in slightly different shape or form throughout the book. I could have been condensed to an even more concise guide.
Though, some of the things are repeated in slightly different shape or form throughout the book. I could have been condensed to an even more concise guide.
August 22, 2018
A great read for someone who has an idea and is moving along the creation of their Minimum Viable Product. Clear, straight talk for anyone trying to learn the fundamentals of startup creation and fundraising. Will definitely re-read before a new venture.
September 1, 2019
startup การบริหารจัดการทางการเงิน กองทุน ผู้ลงทุน สภาพคล่อง การบริหารบอร์ด ควรทำยังไง
นักประดิษฐ์สร้างของ มีคนสนใจเป็นสินค้า จ้างตั้งบริษัท ขายของได้กำไรนั่นคือธุรกิจ
เรื่องสำคัญที่สุดหลังจากสร้างสินค้าคือการจัดการเงิน
นักประดิษฐ์สร้างของ มีคนสนใจเป็นสินค้า จ้างตั้งบริษัท ขายของได้กำไรนั่นคือธุรกิจ
เรื่องสำคัญที่สุดหลังจากสร้างสินค้าคือการจัดการเงิน
October 17, 2019
Interesting book, a must read for people who think about starting a startup.
This book is filled with knowledge and lot of rules (100), which contain valuable advice.
Sometimes a little hard to read, but still recommended!
This book is filled with knowledge and lot of rules (100), which contain valuable advice.
Sometimes a little hard to read, but still recommended!
March 11, 2020
Quite boring take of one of the most interesting business trends of the XXI century. Repetitive, narrow focused on investor search, low focus on what entrepreneurship means and how to succeed in operating these ventures
November 22, 2022
I could not get my teeth into this. It was very dry and preachy. Perhaps not best to read as an audiobook, maybe I would find more use in a physical copy where I can flick through pages until I find the “rules” relevant to my start up.
September 15, 2019
Extremely basic and generic
November 8, 2019
The best guide on starting and building a business
October 15, 2020
Many good practices about angel investing and venture capital.
April 14, 2021
Useful for getting out of startup constipation, along with the second half of Horowitz's Hard Things.
Book still does the female pronoun sexism that is typical of silicon valley texts.
Book still does the female pronoun sexism that is typical of silicon valley texts.
November 11, 2021
Need to re-read. if you are not the right CEO, you should replace yourself.
February 1, 2025
Easy to read. The segments are short, to the point. Easy to skip sections you already understand and move on to more relevant ones.
June 23, 2018
If you need a business bible for today's very quick paced startup world, this is the book to buy. Read my full review at https://journalingonpaper.com/2018/06...
September 4, 2018
This book introduces you to a 100 rules on startups. I found it insightful as there are details on finance, funds and management. However, I think it’s a bit lengthy for the material it covers. Picking specific areas and reading on would be a good approach.
July 6, 2018
See my full review: https://businessbookreviewer.com/2018...
July 22, 2018
Randy Komisar gives unfiltered rules on how to navigate the venture capital environment. I found this book informative and easy to read as an outsider to Silicon Valley.
December 1, 2019
This is probably my top all-around recommendation to first-time entrepreneurs in the world of VC-funded high tech. Narrator (author) is also compelling in audiobook form.
Displaying 1 - 21 of 21 reviews