I was always a great networker. I knew the "right" two or three people to call about a particular technology or market segment. That doesn't work anymore. Things move so quickly that the odds of knowing just the right person are remote. Today great networkers know the right routing point -- people who are going to know the 10 or 20 best people in the world in a specific space, and who can route you to them. You don't learn by searching for answers; you learn by asking for help.
Equity is like gold. You should hold onto as much equity as you can for as long as you can. It's not just about maintaining control; it's about demonstrating commitment. The ability to hold onto equity convinces people in a very distrustful world that you're for real.
We never used outside funding at Morino Associates or Legent until we went public. We bootstrapped everything. We'd sell some contracts, develop products for other companies, pay our expenses, build up our capital. Over time, we managed to generate very significant cash flow. Bootstrapping is tougher than ever today. But great entrepreneurs can still do it.
Email Mario Morino at mmorino@morino.org or visit the web http://www.morino.org .
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