In our second episode of the GrowSmartBiz Podcast we speak with John Backus, Founder and Managing Partner of New Atlantic Ventures (www.navfund.com). He is a seasoned technology investor and entrepreneur with 25+ years of experience investing in and managing rapidly growing, high-technology companies.
His thoughts on Small Business’ challenge to getting access to capital
Here is the podcast:
John shared some of his thoughts on how small business’
- Funding will be challenging through 2010 and should be
- Understand Your Customer and What They Expect in Return from Buying and using your product
- Deliver a product that solves real problems and saves money in the short term
He had some thoughts on those who have become entrepreneurs or thinking about becoming one:
- Follow your dream
- Don’t be afraid to start in a downturn. It is actually to your advantage
- Be doing it, not just talking about it
Top 3 Messages that a Small Business should take away:
- Do Your Research before You Jump
- Get Very Close to Your Customer and Understand What They Want and are Willing to Pay for It
- Focus on generating revenue early
More About John
Prior to founding New Atlantic Ventures in 1998, John was a founding investor and the President and Chief Executive Officer of InteliData Technologies, a Fast 50 growth company in both 1997 & 1998. John led InteliData’s predecessor, US Order, through a successful $65 million IPO in 1995. John currently manages a $225 million venture portfolio at New Atlantic Ventures.
He currently serves on the board of directors of MPowerPlayer, Ftrans, Koofers, Qliance & RemitPro. He is the past Chairman of the Wolf Trap Foundation Board of Directors, the past Chairman of the Northern Virginia Technology Council (NVTC) Board of Directors, the founding Chairman and current Board member of the NVTC TechPAC, and was appointed by former Virginia Governor Mark Warner to co-chair the Virginia Research and Technology Advisory Commission which he served on for 4 years. John began his career at Bain & Co. and Bain Capital, where he was the first Bain & Co. management consultant to take a full time operating role (as CFO) in a portfolio company.
Tell Us How You are Doing
So how are you and your small business doing out there? What things have you learned on getting access to capital that you would share with your fellow entrepreneurs?
Google+Web.com is now offering forums designed to support small businesses in cities throughout the US. Learn more about these forums here: http://Businessforum.web.com/
Tags: Capital Access, Financing, John Backus, podcast, SBSI, small business
Posted in Capital Access, Entrepreneurs, Interviews, Raising Capital, small business, Small Business Success Index, Venture Capital | 3 Comments »
