EDINBURGH, UNITED KINGDOM - MARCH 26: Alan Wilson, Director of James Ritchie & Son clockmakers, founded in 1809, adjusts a clock face to British Summer Time on March 26, 2010 in Edinburgh, Scotland. Clocks will be put forward by one hour on Sunday 28th March 2010, officially the start of British Summer Time. (Photo by Jeff J Mitchell/Getty Images) *** Local Caption *** Alan Wilson
Who says the economy is experiencing some turbulence? Just like how the unemployment rate has slowly been turning around, The New York Times recently published an article that makes a strong case for why now is the perfect time to start your own business.
Writer Evelyn Rusli explains that you don't even need to have aspirations to be the next Groupon or Facebook. Even lesser known start-ups are able to raise millions in financing right now, though that largely applies -- unsurprisingly -- to ambitious newcomer tech companies. Read the full article here.
For every Facebook, Groupon or Zynga, known for its Farmville game, there are scores of lesser-known start-ups like Mr. Morin’s that are raising millions in financing at steep valuations, turning computer programmers into paper millionaires overnight.
Part of the reason is supply and demand, as a wave of capital chases a limited supply of deals. But a more tectonic shift is at work in Silicon Valley. Investors are putting a significant premium on young, visionary entrepreneurs who grew up with the Internet and now seem best positioned to direct the future of the social and mobile Web. Generally in their mid-20s or early 30s, today’s start-up founders are becoming more assertive in funding rounds, securing better terms and, in many cases, cashing out part of their investments well before an initial public offering.
There's still great advice to reap if this doesn't apply exclusively to you, like how to maintain ownership of your company, get funding, and take advantage of FF shares -- a new category of stock that allows founding entrepreneurs to sell shares without it affecting the value of common shares.