Entrepreneurs Should Pick a High Growth City

Last week I was reflecting on different contributors to entrepreneurial success. Topics like luck, timing, hard work, and persistence come to mind. Only, for me, picking a high growth city like Atlanta has been one of the most important decisions I’ve made as an entrepreneur.

High growth cities, by their very definition, are attracting people. As an entrepreneur, it’s all about recruiting and retaining amazing people to join in the journey (distributed teams are easier to recruit but are harder to work together). Great people are drawn to cities with opportunity and growth.

One of the big challenges recruiting people to cities that aren’t the pre-eminent hub in their industry is the worry that if the gig doesn’t work out, there won’t be other comparable opportunities. Who wants to move to a new city, realize their new job wasn’t right, and not have similar jobs available? High growth cities represent Continue reading “Entrepreneurs Should Pick a High Growth City”

VC Alternative Startup Financing Options

Back in the Pardot days, we had exactly one alternative financing option to venture capital: bank venture debt. While that was a great option, and we maxed out our line, being a bootstrapped startup we didn’t qualify for venture debt until we had millions of recurring revenue — an extremely high bar.

Today, there are a number of interesting alternative funding sources that are very different from venture capital, and available for startups at much earlier stages. The big driver here is entrepreneurs want to maintain optionality and/or don’t have a business that fits traditional venture capital (e.g. too small a market). Let’s take a look at a few providers: