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The Most Interesting Startup in the World

  • They have no employees, only customers.
  • Strangers ride the elevator up and down, just to hear their pitch.
  • When they meet with Angels, they take equity… in their investors.
  • Their seed round was an IPO.
  • They once pivoted all the way around, just to see how it feels.
  • They mentor their mentors.
  • Their business cards say only “We’ll call you”.
  • Their lean model produces water and gold from air with no waste.

I found most of this written on a wall at the Mass Challenge accelerator in Boston.  I don’t know who started it or where it came from, but here you go.  Fun stuff.

What can you add to the story, the company, the myth…

Marcus Taylor, founder of Venture Harbour, has compiled words of advice from 30 entrepreneurial leaders in the music industry.  Here are some of our favorites.

Focus on what works now

Benji Rogers “We are no longer subject to what was, only to what works. We can honor what came before us, but at the same time we have to be constantly aware of how fast this new generation moves. The new does not have to be scary and it’s allot less risky than it ever was. It just looks radically different than it ever did and we have to embrace that. Yesterdays fans are not coming back and so we should simply stop trying to find them.”
– Benji Rogers, CEO, Pledge Music

You don’t need investment

David Dufresne “If you launch a startup and think the only way to grow is by getting outside investment from venture capitalist or angel investors, you’re like a band that thinks they need to get signed by a major to have a chance at success. Focus on on building a product or service that has real value for the users and they will pay for it.”
– David Dufresne, CEO, Bandzoogle

Don’t Ask, Don’t Get

Steve RennieYou don’t ask, you don’t get, and you don’t learn.
– Steve Rennie, Manager of Incubus, Founder of Renman Music & Business

Check out the full blog post for more.

sethlevineTechnology investor and managing director of The Foundry Group, Seth Levine, shares his thoughts about the changing trends in entrepreneurship over the past few years.

He points to several factors that have recently contributed to shifts in the way people consider and approach entrepreneurship including the breaking down of geographical barriers and a decreasing emphasis on pedigree.

One of the great trends we’ve been witnessing over the past decade, and in particular the past 5 years, has been what you might call the “democratization” of entrepreneurship”. It’s a powerful trend and one that I think will have a huge impact not just on the US economy and workforce, but perhaps even more intensely on other areas of the world – particularly developing economies.

Read the full story on his blog, at SethLevine.com

Here is a fantastic compilation of posts and articles from 2012 about managing startups from  Professor at Harvard Business School who studies lean startups, entrepreneurship, platforms, and network effects (Twitter: @teisenmann).  This is so much information and wisdom here for anyone starting a new venture or trying to make their startup successful.

As Tom says “The generosity of the startup community is amazing, and these insights are invaluable to those of us who teach and coach aspiring entrepreneurs.”  Dig in, there is a lot to digest:

Lean Startup

Business Models
Customer Discovery and Validation

Marketing: Demand Generation and Optimization

Sales and Sales Management
Viral Marketing
PR Strategy

Branding/Naming a Startup

Product Management/Product Design

Business Development

  • John O’Farrell of a16z describes how quality trumps quantity and clarity regarding mutual objectives is crucial in doing business development deals, using Opsware’s transformative distribution agreement with Cisco as a case study.
Scaling

Funding Strategy

Founding Process
  • My colleague Noam Wasserman published his book, The Founder’s Dilemmas, that describes tradeoffs that founders confront when deciding when/with whom to found, how to split equity, how to divide roles, etc.
  • Blake Masters’ summary of Peter Thiel’s Stanford CS183 lecture on the importance on early founding decisions.
  • Charlie O’Donnell of Brooklyn Bridge Ventures on questions that co-founders must address ASAP and the concept of the “minimum viable team,” i.e., the smallest set of skills needed to get traction in an early-stage startup.
Company Culture, Organizational Structure, Recruiting and Other HR Issues
Board Management

Startup Failure

Exiting By Selling Your Company

The Startup Mindset and Coping with Startup Pressures

Management Advice, Not Elsewhere Classified
Career Advice (Especially for MBAs)

Startup Hubs

  • Brad Feld of Foundry Group and TechStars has published the book Startup Communities, a guide to building an entrepreneurial ecosystem.

Tools for Entrepreneurs

  • Beyond Steve Blank’s Startup Owner’s Manual, a book he co-authored with Bob Dorf, here is a list of the fantastic resources Steve has made available to the startup community — mostly for free.
 Original post is here.  Thank’s for compiling and sharing this Tom.

My buddy Bruce Houghton at Hypebot, caught me last week for a quick interview before Rethink Music.  Here is an except from our discussion:

HYPEBOT: Your new focus is on consulting and investing. Are there any sectors, particularly within music and music tech, that particularly interest you or where you see the most room for growth?

DAVE KUSEK: Online education is one of them. This is an area that is already transforming how people learn and gain job skills and it is only going to grow as time goes on. There are big opportunities here that will effect tens of millions of people around the world. Online training is going to be huge. Job requirements are shifting and people need to be able to adapt to changing circumstances that can benefit them. The traditional model of higher education is already under pressure and there are many people and companies exploring alternative models that are very interesting.

The other area I am bullish on is live music and live events. The live concert experience cannot be digitized, yet can benefit enormously from technology. There really has not been much innovation in live music or in music merchandising beyond ticketing. I think there is a lot more that can be done with mobile technology and am actively working in this area. My investment in Tastemate is one way of digging into this potential in a meaningful way. We will be bringing our service to a venue near you, very soon.

I also think that there is potential to expand the reach of live performance using remote technologies. I am interested in ways to cut the costs out of touring to make it more profitable and to reach broader audiences. It is amazing to me that there has not been more activity in this area either, so I am looking for companies and people to work with that are thinking differently about what live music is all about and how to make it even more lucrative.

HYPEBOT: What are some of the things that Digital Cowboys has done in the past or is looking to do now?

DAVE KUSEK: We are focused on business development, marketing and product development, particularly in online and mobile services. We also do strategy consulting for businesses wanting to expand or enter new markets or make acquisitions. I say we, because while I am the managing partner, I also leverage a network of people around the world and with different specialties that I bring together to form a team to address the issues. For example, with a lot of the product work that we have done I brought together a team of visual designers and user experience people to execute on the product vision and do the testing. With business development projects I sometimes work with friends that have particular contacts or relationships that are beneficial to my clients. Sometimes I put together a couple different investors or strategic partners to provide capital or distribution or some other need. The main thing is to get the work done and show results, while trying to have some fun and work on interesting projects that are pushing the envelope.

HYPEBOT: There’s some talk of another tech bubble. Do you see think we’re approaching one in music and media technology?

DAVE KUSEK: I do think that some of the deals we have seen recently are off the charts, like Instagram – but who knows? That has all the earmarks of “bubble” written all over it. But Facebook is also about to go public and at their level, what’s another billion dollars?

But really I don’t think overall that we are at the point of frivolousness and excess that we witnessed in the earlier dot-com bubble, at least not yet. I believe that people are just beginning to figure out better ways to communicate and interact and learn via technology. That is having massive implications on the future of society around the world. Take a look at the stock market trend over the past 100 years and you will see that things tend to move up and people get smarter and more prosperous. I am an optimist.

There are a lot of music startups getting funded these days and certainly they are not all going to make it. I think we will see some consolidation in the DIY space as there are probably more companies addressing that market than the market really needs. The same is true for music streaming and distribution and music discovery. I think the real breakthrough companies will be formed by trying to do something completely different, rather than mimicking the past with technology. We’ll see.

HYPEBOT: Any plans to write a follow-up to the “Future Of Music” book?

DAVE KUSEK: I plan to spend a lot more time posting things to my blog and on digitalcowboys.com. This is a much better way to continue to update original thinking and way more efficient than writing another book. The music industry has gone digital and online outlets like Hypebot really do work as conduits in this business. That is a real bright spot in the transformation of the music industry. So, look for more at futureofmusicbook.com.

You can get the entire interview here.

More coverage from Hypebot here and from Billboard here.