Lessons Learned: Adify CEO Russ Fradin says don't focus on sexy ideas
Plus why taking 'a lot' of money from venture capitalists is a good thing
Russ Fradin worked at three previous startups before founding Adify, which provides a technology platform and other services for online ad networks.
His advice for startup entrepreneurs starts with not falling in love with your own "sexy ideas." Instead, focus on building long-term value.
He also thinks that taking more VC money early on is better than angel investment because VCs make a smaller number of investments and so are more likely to be involved in helping you run your business.
The trick is choosing the right VC, "because there are some great VCs out there and some that are giant a__holes," according to Fradin, who told us about the value of vertical ad networks in this earlier interview.
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July 24, 2009