Serial Entrepreneur
Mark Suster is a serial entrepreneur who grew up in Northern California.
After graduating from UCSD (economics) and University of Chicago (MBA), he joined Andersen Consulting (now Accenture) in Los Angeles to build computer systems for large corporations. There, he focused mostly on computer networking but had stints with programming, database design, system modeling, and testing.
In 1994 he transferred within Accenture to their technology center of excellence in Sophia Antipolis, France, where he traveled extensively throughout Europe.
Suster started his first company in 1999 while headquartered in London - a SaaS platform for large-scale engineering and construction projects including the London Underground, Thames Water, BNP Paribas, and all of the top German construction firms. The company grew to have offices in seven countries before it was sold in 2005..
He then launched his second company, Koral, in San Mateo, California, which later sold to Salesforce.com, where he became VP Product Management. This company now forms what is known as Salesforce Content.
Suster joined GRP Partners in 2007 as a General Partner. He focuses on early-stage technology companies usually focused on Series A or seed investments.
Related Links: http://www.bothsidesofthetable.com/
Last Updated: Fri, Sep 17, 2010
Can entrepreneurs be made? This question is incredibly important for aspiring entrepreneurs, investors, and educational organizations like BASES. For some, the answer is straightforward; if you inherently possess a certain set of qualities, then, at the very least, you have the potential to become a successful entrepreneur. Otherwise, you're out of luck. For others, there is a relatively distinct manner in which entrepreneurs can be developed, through both intentional circumstances and otherwise, such as family background and education.
Entrepreneurship is an emotional and economic roller coaster, says venture capitalist and serial entrepreneur Mark Suster. In this candid and informative lecture, Suster defies some of Silicon Valley's conventional wisdom. Based on his extensive experience with multiple companies, Suster shares his thoughts on the real day-to-day life of startups, smart ways to raise the right kind of funds, and offers honest advice in making your way as an entrepreneur.
If an acquisition offer falls below $100 million, it does not mean a company or its entrepreneurs are failures, says serial entrepreneur Mark Suster. He does not encourage an early sale, but he points out that not every enterprise will change the world, and there is no shame in selling a small company at the right moment. In this clip, Suster recalls turning down a $150 million offer and his ensuing regret. He shares how this experience taught him to sell his second company on time and for the right price.
Most startups won't achieve the acclaim of Google, but that does not preclude these ventures from creating value for the entrepreneurs who start them. With conviction in life, and a respect for the stress, competition, and long hours of entrepreneurship, having a passionate idea that you're willing to see through to the end is the most important aspect of starting a business. Serial entrepreneur Mark Suster speak about his personal experiences in this field, and encourages entrepreneurs to find their passion and build their enterprise to be better than their own hype.
Serial entrepreneur and venture capitalist Mark Suster urges entrepreneurs not to be lazy when it comes to doing necessary market research. This includes having a basic understanding of who will pay for your product or service. In the age of affordable research and engineering, smart venture capitalists now expect to see at least workable prototypes from startups seeking funding. Suster suggests numerous critical questions for entrepreneurs to ponder about their market, their product, and their competition.
Serial entrepreneur and investor Mark Suster urges founders to start out on their own, to avoid early dilution. Suster believes entrepreneurs deserve to keep a greater share of their companies, when possible, as they are the ones taking the critical first leap. While Suster claims some in Silicon Valley may think this idea is "heresy," he does not understand why burgeoning entrepreneurs are willing to give so much away, so early. 
While many legendary Silicon Valley companies were founded by teams of two, partnerships aren't without their problems, states venture capitalist Mark Suster. Disagreements arise based on personal life changes, business strategies, and roles within the company. Suster prefers to avoid playing the role of co-founder "marriage counselor" by working with a strong, individual entrepreneur.
No Internet or tech company should launch without having in-house technical manpower to build the product, says serial entrepreneur Mark Suster. While business savvy on the founding team is important, those skills need to be balanced with a sturdy base of engineering, programming, or other technical know-how. Additionally, a company makes itself more attractive to funding and acquisition if it has intrinsic technical expertise.
Venture capitalist Mark Suster believes being a lean startup is related to size and funding levels, rather than speed and product iteration. However, once a startup finds a strong product and market fit, they will need to get "fat" quickly, in order to compete with larger companies, particularly in "winner take most" markets.
Serial entrepreneur Mark Suster offers quick lessons in smart branding for startups: 1) Your company name should be your URL address, 2) Don't let your company name box you in, and 3) Be careful of using words in your name that mean something else. Suster also explains why you should have the commitment to see your startup through.
"Raising venture capital is worse than marriage," says investor and serial entrepreneur Mark Suster, noting that you can at least get divorced when it comes to marriage. Suster expresses surprise that a startup team would be willing to accept a funding partnership, without taking the time to truly get to know the angel or VC. This business relationship is long, intimate, and permanent, so both parties should carefully choose their partners.
Venture capitalist and entrepreneur Mark Suster shares insights on how startups can connect with investors. He explains the best method is to access investors through other entrepreneurs. Suster speaks to the need for a startup to find their first anchor investor, whose presence can often cause additional funding sources to come forward.
Which metrics indicate whether a venture capitalist is performing well? It's more than simple ROI. Venture capitalist Mark Suster speaks of the three career phases to examine: 1) Building a pipeline of deals, 2) Nurturing your portfolio companies, and 3) Harvesting investments and obtaining exits. He states that success in venture capital takes about a decade to determine.
Entrepreneurship is an emotional and economic roller coaster, says venture capitalist and serial entrepreneur Mark Suster. In this candid and informative lecture, Suster defies some of Silicon Valley's conventional wisdom. Based on his extensive experience with multiple companies, Suster shares his thoughts on the real day-to-day life of startups, smart ways to raise the right kind of funds, and offers honest advice in making your way as an entrepreneur.