Mass High Tech, May, 2011 
A 20-something launching a new tech company may bring great ideas, energy and dedication to their startup. However, they can always benefit from the experiences of those who have gone before them. So, Mass High Tech invited a handful of experienced members of the New England innovation community to share their own bits of advice to young entrepreneurs.
To set the stage, each person was told, “Imagine that you are talking to a 22-year-old new college grad who has a social media or software startup still in the ‘Mom’s Basement mode.’” They then answered two questions.
Question No. 1: What do they need to know about building and running the company that isn’t taught in school?
Jack Derby, president of Derby Management, a director of Common Angels and a 1997 MHT All-Star:
“In my 20 years of coaching, running and venture investing in technology companies, I have never had a company fail because the technology did not work. Sure, there were twists and turns, but ultimately it got worked out. Having said that, I have seen plenty of companies fail, and they primarily failed due to weak management, and specifically CEOs who did not hire people better than themselves in their own respective specialties. So, Lesson No. 1: strong, flexible, passionate and highly skilled management counts more than anything else. Sure, people mouth these words, but they don’t often teach the tactics of what this actually means.”
Question No. 2: Why should they feel confident in today’s business environment?
“Three things: One, there’s (a lot) more equity money available and being invested than last year. Two, the market for social media and capital efficient software is excitingly buzzy, and there’s significant talent available. Three, the support mechanisms in Greater Boston for startups are at a more robust level than I’ve seen in 20 years, so there’s no excuse for not getting experienced assistance.”