I recently had the chance to sit in on a Q&A session here at Fisher with a successful entrepreneur who was willing to spend time discussing the challenges and rewards of starting and running your own business. Tom has a lot of experience in entrepreneurial ventures and continues to work with start-ups and other companies in need of capital.
Tom is currently a partner at KCP Capital which specializes in investing and consulting with digital media clients. He is also currently working as the Chief Product Officer at DashBid, a video advertising private exchange company. His past is full of great experiences within the digital and technological business field and he was nice enough to give us some of these key points of insight for entrepreneurs.
Working With Friends – He is definitely a proponent of working with friends. He said that it makes work more fun and that it is an environment that can really harness the strengths of all parties involved due to the level of comfort you have with your colleagues.
Understand the Finances – Tom mentioned that one of the most important steps of being an entrepreneur is making sure that you understand how the financing aspect of your venture will take place.
Effort -Starting a company takes a lot of effort and time. He mentioned that it is hard to focus a lot of time anywhere else than a start-up. He made sure to emphasize the importance of time management and the effort and work that is required to get a new venture off the ground.
Passion and Fun – The more you care about the product, the more passionate you will be in helping the business be successful. Tom mentioned that he enjoys working in IT and Tech industries and it helps motivate him to work more efficiently and diligently.
Dress the Part – This goes without saying but Tom made sure that we all understood that we need to dress and act the part. Early in his career he didn’t grasp the importance of his personal brand. He has since changed and emphasized his wife’s help in that category.