The panel discussion featured Nate Abbott and Natty Zola of Everlater, Sarah Schupp from University Parent, and Daniel Epstein of the Unreasonable Institute. After giving a short pitch about each of their companies, they discussed the challenges and rewards of starting a business, with the uncertainty of success and the long hours contrasting dramatically with the sense of ownership and excitement of being an entrepreneur. Members of the audience listened attentively and asked great questions, getting motivated to start their own ventures. Check out more pictures here!

Next week same time same place is Pitch Night, when ideas will fly and teams will form! See you there: ATLAS 100 at 6pm on Wednesday, November 3rd. Register to attend here and click on the email icon at the top right of this page if you’d like to pitch a business idea!

Jason Mendelson, Co-Founder and Managing Director of Foundry Group, a Boulder venture capital firm, kicked off the New Venture Challenge Crash Course series to a packed house last night.  His wealth of experience – software engineer, then deal attorney, then venture capitalist – came through in lively style.  He’s not afraid to call a spade a spade, either.  Take his advice on very early stage financing:

“Do you really need financing yet?  Early stage financing is very risky, and therefore, expensive.  I’m going to act more like a loan shark than a VC.  An angel investor will give you a better deal.  Create value and the money will follow.”

This was the first in an every-Wednesday “Crash Course” series put on by the New Venture Challenge.  Each workshop is presented by a seasoned entrepreneur or business leaders.  Mendelson’s talk, titled “How to Build a Company,” dished out advice and highlighted common mistakes:

“You need a partner who complements your skills.  The biggest red flag for me as a VC is someone starting a company solo.”

“Most people fall down on estimating the competition.  Lots of entrepreneurs say, “We are different.”  Are you really?  Take social networking sites; your competition might just be your customers’ time.”

“Marketing and advertising will not save you: Every marketing guy knows that half of his budget is wasted; he just doesn’t know which half.”

Mendelson also praised Boulder as a place to build a company.  Successful entrepreneurs are happy to mentor those starting out, and the city is one of the most socially-networked that he’s worked in.  Mendelson illustrated with a parting shot.

“What should you say to a Sand Hill Road venture capitalist?  Compliment him on his Ferrari.”

Below are the slides from Jason’s presentation.  Thanks Jason!  Here is the video of the crash course.

Thanks to Guy Kawasaki and Alltop for this find.