What Bugs Bunny has to do with Startups

As a kid my favourite cartoon scene was Bugs Bunny running off a cliff, legs frantically whirring while he goes nowhere, till suddenly he realises he’s no longer on terra firma, and only then plummets to the ground.We got asked in to help recover a startup recently. ...

Royalties or Equity?

Back in 1985, Modigliani and Miller won a Nobel Prize in Economics for showing that a company’s value was unaffected by its debt/equity ratio.   It didn’t matter, they said, how you divided the pie, the pie was still the same pie.Which returned to mind this week when...

Why needing money is very often the symptom not the disease.

It’s interesting how resistant this one seems to be.  I’ve lost count of how many times I’ve heard speakers say it, books say it, investors say it.   Opportunity starts with customers.   It’s obvious, right?  Yet it’s a perspective that seems to get lost time and...

Why a Patent alone is a Liability not an Asset

We waved  goodbye recently to a prospect with a really great invention.  Not only was it a great invention, but he’d hired top quality patent lawyers, filed it in half the globe and… maintained it for ten years.Heaven know what all this had cost him.  North of £100k...