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Posts Tagged Bootup Labs
F5 Expo: The Secret to Success: Avoiding Start-up Pitfalls
If you fail, fail in style – Michael Fergusson on starting your own company.
On April 7th, I was amongst thousands who attended the F5 Expo, which was full of familiar faces, gadgets and mascots and buzzing with talks on innovation.
I sat in on the The Secret to Success: Avoiding Start-up Pitfalls panel with Bootup Labs’ Danny Robinson, HootSuite’s Ryan Holmes and Ayogo Games’ Michael Fergusson, and moderated by SoMedios’ Carisa Miklusak.
These startup stars shared their stories and opinions on passion vs. experience to funding and finding that work/life balance we all strive for.
Passion VS. Experience – What’s more important?
When looking for a Co-Founder or expanding your team, Ryan said he prefers passion over experience. “Passion cannot be taught or bought. When you are passionate, you will hustle hard and work through the hard knocks.”
Danny believes that passion and experience deliver the same result: “the ability to rely on your intuition to make the right decision.” Danny explains his thoughts on passion vs experience in more detail here.
Michael, on the other hand, felt that many startup founders lacked experience, but few lacked passion. Passion is usually what motivates entrepreneurs to start a business in the first place. “You obviously need both to succeed. Having said that, experience is usually what’s missing.”
Funding – When should you start raising money and which VC should you go after?
Danny explained that it’s not about the firm, it’s about the partner. The partner is the one sitting on your board and is the person you keep updated with company stats and information. It’s really important to establish a good relationship with your partner as they become a vital part of your start-up. He also mentioned that when raising money, you need to know how much money you need to raise, and once you have this number, work backwards.
Ryan believes that raising money is highly dependent on the circumstances. He suggested looking into angel investment and convertible debt earlier on if you can’t generate revenue from day one.
Michael didn’t comment too much on funding but did say that the process of raising money and managing investors should distract you as little as possible from your vision and plan for the company.
Balance – Why it’s important for you and your company.
Michael expressed the importance of work / life balance when starting your own company. You need to be distracted by these things, though, if you’re going to stay healthy (for yourself) and productive (for your business).
Ending Notes
In summary, the panel was insightful, personable and honest. They did a great job in painting a picture on how to avoid certain pitfalls when starting a company. Listening to how passionate they were about starting a company has me itching to start one of my own. Who’s with me?
If you are an entrepreneur, who has been or is currently on the startup roller coaster, what do you think is important? What lessons have you learned?
Missed the show, here are some great shots by Jeremy Lim.
New Year, New Office
As some of you may know the folks at Bootup Labs, Bootup Entrepreneurial Society and Strutta spent last weekend moving to our new digs, quite fine digs if I say so myself.
2010 is starting to smell really good as our new office is equipped with a full kitchen where resident foodie Boris Mann has already started to whip us up some delicious Bacon & Egger sandwiches and pizza!
Here’s a short video Jordan and I created touring our new office.
Come on by and visit us at our new office for a tour. I might even whip you up some butter chicken!
*Post written by Sonia*
Connect ‘09 Ticket Winners
Posted by Maura Rodgers in Events on September 22nd, 2009
During our Under the Launch Party Event (LPV8) on September 16, we held a draw for two free tickets to Connect ‘09, a premier event for technology startups hosted by the BC Innovation Council (BCIC) on October 19, 2009 at the Sheraton Wall Centre in Vancouver, BC.
And the Winners are…
Congratulations to LPV8 attendees, Carly Franklin of Magpie Social Media
and Dan Coburn of Atomic Robot for winning the tickets to Connect ‘09. ![]()
That night, Carly and Dan will enjoy panel sessions with industry experts, a technology expo, awards ceremony and great networking with other innovators in the BC technology community including BES Board members, Leonard Brody and Danny Robinson.
Leonard is the Keynote Speaker this year for Connect ‘09. Among his many achievements, Leonard is an experienced entrepreneur, who co-founded NowPublic, a citizen generated news website that recently sold to local news network, Examiner.com. Having heard Leonard speak before, I believe you will walk away feeling inspired.
Danny has been starting and advising companies for over 15 years. As Managing Director of Bootup Labs, he helps early stage digital media companies go from “concept to proof.” Danny will be sharing his wisdom on the Accelerator Factor panel at 5pm. If you are launching a startup, you will want to attend this session.
Join Carly, Dan, Leonard, Danny and many more innovators and technology professionals at Connect ‘09. If you haven’t got a ticket already, you can learn more about the event and register at http://www.bcic.ca/connect











