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What are some things that every entrepreneur should know, but that nobody teaches, when starting their first business?“They’re actually going to wire $12M into our bank account,” I said to myself.We had just completed the “documents” phase of our initial funding. We had signed all the signNowwork. And here were these people that we barely knew about to wire us $12M.I don’t know if that counts as a surprise, but it shows you the trust your investors are putting in you. Your investors know you may fail. And your investors know you may lose all their money.But your investors are willing to wire you millions of dollars. And then they expect you to figure the rest out for yourself.Is that crazy or what?Here are 17 other crazy and surprising things that you’ll likely go through when you start your company.A. Every word you speak matters.Congratulations. I don’t know whether you realized it, but you are now an actor.Your stage is your office.Let me give you an example.I was in my office late one Friday afternoon. We had our company meeting lunchtime earlier in the day.Jeroen, our VP Engineering walked into my office. He said, “One of my guys was worried because you frowned when you answered the question about revenue.”“I frowned?” I said. “I don’t remember frowning.”“Yes, he thought you frowned. And so he thought things were really bad.”I was laughing at this point.But this anecdote just shows you how everything you say, everything you do, every gesture you make, every email you send, all of it will scrutinized over and over by your team.Your team will look for meaning where there is none. Your team will wonder why you left the office at 4:30 PM?That’s why you are now an actor. You are literally on stage every second. You don’t have the luxury of taking even a second off.B. No, the market doesn’t immediately notice you exist.I think one of the most jarring things for me was just how difficult it is to build a following and a brand for your business. And what makes it even more jarring, in my case, is…I knew going in was going to be hard. And I was still surprised at how hard it is.You’ll be ecstatic the first time you get 100 visitors to your website in one day.You’ll be ecstatic the first time you get a customer. You’ll truly understand why restaurant owners frame that first dollar bill they get.C. Getting to $1M/Year in revenue is really, really hard,I had built several businesses from $0 to greater than $100M before I started my company. So I had pretty high expectations that getting to $100M was the goal.Little did I know how unbelievably hard getting to just $1M/Year would be.You underestimate everything when you start a company. You underestimate how much money you need, and you’ll underestimate how difficult it is building a brand.So is it any wonder that you’ll be surprised at how difficult it is getting just $1M/year in revenue? It shouldn’t be, but it is. But…D. It’s hand-to-hand combat when you’re trying to win a big deal.Martin, one of our best engineers, said to me, “It’s hand-to-hand combat getting a big customer to buy your products.”Martin was right. It can be really difficult getting big customers to buy your products.Think about it: All your competitors want that business too! That’s why it usually is a better choice for startups to go after underserved markets that might be a little smaller.E. Hiring a great VP of Sales is unbelievably hard…And hiring a great VP of Sales is unbelievably important.We cycled through three VP of Sales in four years.The first VP of Sales was a cofounder who would have been great but he just didn’t have the energy and drive necessary to do the job.The second VP of Sales just wasn’t strong enough. He tried really hard, but family issues derailed him.The third VP of Sales came highly recommended, but was the wrong guy.Why were we so inept when it came to finding a great VP of Sales?I have to step up and take the blame. I was the CEO who hired all three VPs of Sales.The reality is that a really great VP of Sales is not going to be interested in working at your startup until you get to some level of scale. The job isn’t meaty enough for a great VP of Sales, and it’s not worth the challenge.So you’re better off without a VP of Sales until you get to scale. That was a big surprise.F. Expect some sort of power play every time, every single time you are about to close your funding.One of the saddest things to me about my experience building our company was the drama around each fund raising event. And I don’t mean the external drama of dealing with investors because you expect there to be drama dealing with investors.I mean the unexpected internal drama of dealing with employees and cofounders leveraging the fundraising to attempt to get various things (usually more money or power).For example, two of my cofounders (one was a friend for over 20 years) demanded that I create an “Office of the President” with them or they would quit. All major decisions would be agreed to by the three of us.I refused, and they backed down.“I’ll quit if I don’t get what I want,” is the threat. You’re answer always has to be no after listening to their grievance. Always.It will take all of your skill not to give in because losing a key employee before you close funding could cause you to lose your funding. It’s tough, I know, but you have to find a way through the abyss.G. Your investors likely will have surprisingly little sense of urgency over you closing your funding,You’ve just signed a term sheet. You’ve been raising money for close to a year and funds are really low.You want to get the money into your bank account as fast as possible before your new investor changes their mind. Plus your new investor is excited to get started putting their money to work.There are millions of dollars at stake, but your existing investors move like snails. You have closing documents that need their attention and they delay signing.A day goes by. And then another day goes by before they sign the documents.All the while you are sweating bullets to get your funding closed. That’s the sad reality that you are the only one with a sense of urgency to close your funding.H. That’s when (and why) you need to become a polite pest.You have to follow up on every detail with every investor to get the round closed. You’ve got to make the extra call to the lawyers. And you’ve got to send the extra email to nudge your investors along.I. You’re likely to learn what the zone of insolvency means.Have you ever heard of the zone of insolvency? Sounds kind of like the twilight zone, doesn’t it?The zone of insolvency is simply when your company has more liabilities than assets. In other words, you don’t have the ability to pay your bills.You are likely to enter the zone of insolvency as you come close to closing your funding. Your attorney will make a big deal about entering the zone of insolvency.Your investors will just shrug their shoulders. “So what, we’ve been there before. It’s nothing to worry about,” they’ll say.But you’ll worry because it’s an indication of how close to edge your company truly is. And the scary thing is it will not take much to tip it over to the point of no return.J. You’ll learn that 409A valuations are a joke.You probably never heard of a 409A valuation before you started your company. Essentially, you hire an external person to determine the value of your company.Your attorney will likely start pushing for a 409A valuation a couple years after you launch your company because the common wisdom is that you need a way of setting the strike price of stock options.Your initial option price is usually arbitrarily set at around $0.12 per share. Why? Because everyone else’s option price is around $0.12 per share.But as you get bigger, you can’t just go with an arbitrary number any more, can you? It makes sense until the valuation of your options suddenly jumps from $0.12 to $1.12.Oops.Now your new hires are pissed because the exercise price on their stock options is now a large number. You want to keep that number low, so your employees can make more money.So you nudge your independent expert to come up with a lower valuation of your company. “Ah, that’s better,” you say to yourself when you see the new price of $0.17 per share.K. You’ll find out your team is more resilient than you think.One of the more surprising things you’ll likely learn is how resilient your team really is. I did.The way you build up your team’s resilience is through transparency. Share with your team the bad stuff as well as the good stuff.You’ll likely be surprised at the positive response your team has to adversity.One word of caution before you lay your soul bare: Never show your fear or panic about what’s going on however bad it is.You want to appear to be in control (remember you are an actor) even if you’re scared to death.L. Your investors expect you to screw up……especially if you are a first time CEO.I’ll never forget listening to some of the partners at the VC fund I was an Entrepreneur in Residence (EIR) talk about first time CEOs.“And of course the CEO is going to make hundreds of mistakes” was the consensus view.Your investors are expecting you to make mistakes. But there are four things you need to remember if when you make mistakes:Never surprise your investors. In other words, don’t hide your mistake from your investors, and…Tell your investors about problems before you have a board meeting. Then your investors will not be surprised by the problem in front of the other board members. And…Learn from each mistake. Then you will not repeat the mistakes, and you’ll get smarter.M. You really do have to be 100X better than your closest competitor to win.You’re a small startup. The world has existed quite well with you and your company. The only way to cut through the noise is being signNowly better than your competitors.I learned this one the hard way:Our first products that were maybe 30% better than the competition didn’t sell well, and…Our second-generation products were 3X to 10X better and they sold well, but…Our third-generation products were 100X better and ground breaking and they really sold well!N. You will be obsessing about your company every waking moment.You’re on vacation with your family, and what are you thinking about? The company!You’re going for a run on a Saturday, and what are you thinking about? The company!You’re at the movies and what are you thinking about? The company!Your obsession with your company never goes away even while you’re sleeping.O. You’ll become unbelievably impatient about everything!I remember talking with Jeroen, my fellow cofounder and VP of Engineering. Jeroen smiled at me and said, “I’m in line at the market and I just want everyone to start moving faster.“That used to never happen to me.”Then we both laughed.The key is recognizing you are changing. You want everything to move at the same fast speed your company is moving at: FAST!But remember to not lose your patience with your spouse and your family.P. You’ll likely never, ever, ever want to work for anyone again.Maybe this isn’t such a big surprise, but it certainly was confirmed for me after I sold my company.I had no desire. In fact I had negative desire to work for anyone ever again.I just couldn’t stand the thought of working for anyone. I’d rather starve than work for someone again.That’s why it’s so hard for ex-CEOs to become VPs; potential employers know you don’t want to work for them either.Q. You will have people you trust turn on you, but…You will have people you didn’t expect to help you time and time again.We already spoke of the betrayal (see answer F). However, you’ll be amazed at the support you get in surprising places.Like when the entry-level engineer stayed all night fulfilling sample requests without being asked.R. You will never be closer to another group of people again in your career.Building a company from the ground up is an intense experience. You go through so much and it’s so intense.There’s a bond that forms between you and your team that will be there forever. And that’s why building a company is so special and so enjoyable.For all the problems, for all the late nights, for all the near death experiences, it’s the feeling that you and your team are doing something really special together. And nobody is going to get in your way.Read original post here: http://www.brettjfox.com/what-ar...
What is the best approach to associate with great people in our life?One approach is to be meticulous about pruning your relationships.Each of us only has 168 hours in a week, and between 672 and 744 hours in a month. Be extremely mindful of how you spend those hours. In the last month, who did you spend time with? Were any of those encounters exasperating, or mindless, or trite? Do you find that there are certain people in your sphere who are just a bummer to hang out with?If you're like most people, there's probably a "bottom" 10% to 30% of relationships in your life that you'd be better off eliminating. Do it. Not in a malicious or overt way -- but just stop scheduling time with those folks and allow the friendships to shrivel naturally.Now you just got 10% to 30% of your free time back. Fill that time with whatever you like. As long as the relationships you pruned were negative, almost anything else you do with that time will be an upgrade. You get bonus points for using that spare time to engage with something meaningful or hard... but sleep and eating burritos are good for the soul, too.Two things will happen next:In the newly spare time you generated, you'll likely bump into new people and form new relationships. Odds are, those relationships will be of a better quality than the previous ones you cut off.You'll also be spending more time with the non-crappy people in your life. Odds are, those non-crappy friends also have a lot of other non-crappy friends that you haven't met yet. Those folks will increasingly become your friends.Repeat this process over time and you'll find that the quality of your relationships will steadily improve.(Note that I didn't say the quality of people in your life will improve. To say that would be 1) to advocate for social climbing, which is sort of noxious; and 2) to state that there's a such thing as "good people" and "bad people", which I don't really believe. But I do believe that there's a such thing as good relationships and bad relationships, and that's really more at the heart of what the questioner was asking.)
Do military members have to pay any fee for leave or fiancee forms?NOOOOOOO. You are talking to a military romance scammer. I received an email from the US Army that directly answers your question that is pasted below please keep reading.I believe you are the victim of a military Romance Scam whereas the person you are talking to is a foreign national posing as an American Soldier claiming to be stationed overseas on a peacekeeping mission. That's the key to the scam they always claim to be on a peacekeeping mission.Part of their scam is saying that they have no access to their money that their mission is highly dangerous.If your boyfriend girlfriend/future husband/wife is asking you to do the following or has exhibited this behavior, it is a most likely a scam:Moves to private messaging site immediately after meeting you on Facebook or SnapChat or Instagram or some dating or social media site. Often times they delete the site you met them on right after they asked you to move to a more private messaging siteProfesses love to you very quickly & seems to quote poems and song lyrics along with using their own sort of broken language, as they profess their love and devotion quickly. They also showed concern for your health and love for your family.Promises marriage as soon as he/she gets to state for leave that they asked you to pay for.They Requests money (wire transfers) and Amazon, iTune ,Verizon, etc gift cards, for medicine, religious practices, and leaves to come home, internet access, complete job assignments, help sick friend, get him out of trouble, or anything that sounds fishy.The military does provide all the soldier needs including food medical Care and transportation for leave. Trust me, I lived it, you are probably being scammed. I am just trying to show you examples that you are most likely being connned.Below is an email response I received after I sent an inquiry to the US government when I discovered I was scammed. I received this wonderful response back with lots of useful links on how to find and report your scammer. And how to learn more about Romance Scams.Right now you can also copy the picture he gave you and do a google image search and you will hopefully see the pictures of the real person he is impersonating. this doesn't always work and take some digging. if you find the real person you can direct message them and alert them that their image is being used for scamming.Good Luck to you and I'm sorry this may be happening to you. please continue reading the government response I received below it's very informative. You have contacted an email that is monitored by the U.S. Army Criminal Investigation Command. Unfortunately, this is a common concern. We assure you there is never any reason to send money to anyone claiming to be a Soldier online. If you have only spoken with this person online, it is likely they are not a U.S. Soldier at all. If this is a suspected imposter social media profile, we urge you to report it to that platform as soon as possible. Please continue reading for more resources and answers to other frequently asked questions: How to report an imposter Facebook profile: Caution-https://www.facebook.com/help/16... < Caution-https://www.facebook.com/help/16... > Answers to frequently asked questions: - Soldiers and their loved ones are not charged money so that the Soldier can go on leave. - Soldiers are not charged money for secure communications or leave. - Soldiers do not need permission to get married. - Soldiers emails are in this format: firstname.lastname@example.org < Caution-mailto: email@example.com > anything ending in .us or .com is not an official email account. - Soldiers have medical insurance, which pays for their medical costs when treated at civilian health care facilities worldwide – family and friends do not need to pay their medical expenses. - Military aircraft are not used to transport Privately Owned Vehicles. - Army financial offices are not used to help Soldiers buy or sell items of any kind. - Soldiers deployed to Combat Zones do not need to solicit money from the public to feed or house themselves or their troops. - Deployed Soldiers do not find large unclaimed sums of money and need your help to get that money out of the country. Anyone who tells you one of the above-listed conditions/circumstances is true is likely posing as a Soldier and trying to steal money from you. We would urge you to immediately cease all contact with this individual. For more information on avoiding online scams and to report this crime, please see the following sites and articles: This article may help clarify some of the tricks social media scammers try to use to take advantage of people: Caution-https://www.army.mil/article/61432/< Caution-https://www.army.mil/article/61432/> CID advises vigilance against 'romance scams,' scammers impersonating Soldiers Caution-https://www.army.mil/article/180749 < Caution-https://www.army.mil/article/180749 > FBI Internet Crime Complaint Center: Caution-http://www.ic3.gov/default.aspx< Caution-http://www.ic3.gov/default.aspx> U.S. Army investigators warn public against romance scams: Caution-https://www.army.mil/article/130...< Caution-https://www.army.mil/article/130...> DOD warns troops, families to be cybercrime smart -Caution-http://www.army.mil/article/1450...< Caution-http://www.army.mil/article/1450...> Use caution with social networking Caution-https://www.army.mil/article/146...< Caution-https://www.army.mil/article/146...> Please see our frequently asked questions section under scams and legal issues. Caution-http://www.army.mil/faq/ < Caution-http://www.army.mil/faq/ > or visit Caution-http://www.cid.army.mil/ < Caution-http://www.cid.army.mil/ >. The challenge with most scams is determining if an individual is a legitimate member of the US Army. Based on the Privacy Act of 1974, we cannot provide this information. If concerned about a scam you may contact the Better Business Bureau (if it involves a solicitation for money), or local law enforcement. If you're involved in a Facebook or dating site scam, you are free to contact us direct; (571) 305-4056. If you have a social security number, you can find information about Soldiers online at Caution-https://www.dmdc.osd.mil/appj/sc... < Caution-https://www.dmdc.osd.mil/appj/sc... > . While this is a free search, it does not help you locate a retiree, but it can tell you if the Soldier is active duty or not. If more information is needed such as current duty station or location, you can contact the Commander Soldier's Records Data Center (SRDC) by phone or mail and they will help you locate individuals on active duty only, not retirees. There is a fee of $3.50 for businesses to use this service. The check or money order must be made out to the U.S. Treasury. It is not refundable. The address is: Commander Soldier's Records Data Center (SRDC) 8899 East 56th Street Indianapolis, IN 46249-5301 Phone: 1-866-771-6357 In addition, it is not possible to remove social networking site profiles without legitimate proof of identity theft or a scam. If you suspect fraud on this site, take a screenshot of any advances for money or impersonations and report the account on the social networking platform immediately. Please submit all information you have on this incident to Caution-www.ic3.gov < Caution-http://www.ic3.gov > (FBI website, Internet Criminal Complaint Center), immediately stop contact with the scammer (you are potentially providing them more information which can be used to scam you), and learn how to protect yourself against these scams at Caution-http://www.ftc.gov < Caution-http://www.ftc.gov > (Federal Trade Commission's website)
What will happen if there is sugar in a gas tank?Let’s imagine you are a bad person, you take a pound of sugar and a funnel and slip it into your neighbour’s fuel tank in his nice new SUV. You sit hidden in a nearby bush, hardly able to conceal your glee as he comes out, gets into the vehicle and, shockingly, drives away. A day later he still didn't notice, a week later still nothing. Eventually his car develops a lean mixture type problem, a mechanic changes the fuel filter at the tank and clears out your undissolved sugar.What just happened?Sugar is a very fine substance, but it does not dissolve in petrol, so it gathered in the ribs at the floor of the tank. Occasionally some would hit the filter, which is designed to weed out anything bigger than 2 microns, and partly blocked it.So your bad person membership card gets revoked here, unless you think causing someone a minor inconvenience ought to be seen as a victory.Of course, there are a few potential scenarios in which your sugar could dissolve…Older cars will have a small quantity of water in the tank due to condensation; sugar can dissolve into this and get through the filters to the injectors or carburetor, but the quantities can be small due to the various modern evaporative systems. Ruining the engine might happen, but it might take a long time.A more certain speedy method would be to fill up a gas can with a gallon or two of CocaCola or some similarly sugary beverage and helpfully ‘top up’ your neighbor’s car. At which point a pound of dissolved sugar will fairly rapidly be making contact with the injectors/carb and potentially the valves, something your neighbor really does not want to happen, leaving a sticky sweet tar to clog up all the moving parts.In a fuel injected car the injectors will clog up very fast, normally preventing the evil that haunts carburated engines, tarring and rotting the carb and seizing the valves leading to valve piston contact, shattered valve heads falling into the cylinder and being punched through the cylinder wall by the pistons, which are also beginning to seize as sugar sticks to the piston rings.That being said, ‘only’ replacing the injectors and filters can easily top $4000 to put right on a modern premium car. The damage to an old school carbureted engine will probably trash the block, leaving cylinders needing to be sleeved and heads replaced due to wrecked valve seats, quite probably a total swap out with a junk yard special will be more economical than trying to put all this right. Despite there being much more damage this will also prove much cheaper (unless your neighbour has a blueprinted racing v8) to put right.So let’s end by saying no, sugar in the tank won’t ruin the car, but it could easily ruin the engine.
How can I fill out Google's intern host matching form to optimize my chances of receiving a match?I was selected for a summer internship 2016.I tried to be very open while filling the preference form: I choose many products as my favorite products and I said I'm open about the team I want to join.I even was very open in the location and start date to get host matching interviews (I negotiated the start date in the interview until both me and my host were happy.) You could ask your recruiter to review your form (there are very cool and could help you a lot since they have a bigger experience).Do a search on the potential team.Before the interviews, try to find smart question that you are going to ask for the potential host (do a search on the team to find nice and deep questions to impress your host). Prepare well your resume.You are very likely not going to get algorithm/data structure questions like in the first round. It's going to be just some friendly chat if you are lucky. If your potential team is working on something like machine learning, expect that they are going to ask you questions about machine learning, courses related to machine learning you have and relevant experience (projects, internship). Of course you have to study that before the interview. Take as long time as you need if you feel rusty. It takes some time to get ready for the host matching (it's less than the technical interview) but it's worth it of course.
How do I fill out the form of DU CIC? I couldn't find the link to fill out the form.Just register on the admission portal and during registration you will get an option for the entrance based course. Just register there. There is no separate form for DU CIC.