Introducing NextUp Labs!
Posted on February 23, 2012
NextUp Labs helps people turn their ideas into great businesses.
For the past three months, I have been speaking with entrepreneurs all over North America who were looking for advice about their mobile and consumer web start-ups/businesses. These are smart, talented people with great ideas. However, many of them had a common problem. They were missing a key skill that was holding them back from the next level of success. For some it was a technical expert that could help build a more robust prototype, for others it was someone with business development and financing knowledge to compliment a technical team.
Traditionally, these entrepreneurs would engage a consultant who could complement the start-up’s existing expertise (eg. a custom software development firm, a marketing agency, etc). The challenge for start-ups is to ensure that the consultant is aligned with the overall vision for the business. I heard too many horror stories about delayed projects and challenges working with vendors.
I believe entrepreneurs can use a partner who is directly aligned with their interests every step of the way. So, I created NextUp Labs to fill that role. Instead of accepting a fee for service, we want to help companies by sharing in their success through revenue share and equity.
As part of our model, I want to write about NextUp Labs’ experiences on this blog as we work with a variety of start-ups seeing their challenges and successes. It is an incredibly exciting time to be part of the start-up ecosystem and I couldn’t be happier to contribute my time and skills to making it better.