Start Up Wisdom Humor

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The top ten mistakes start-ups make - including some of my own personal start-up experiences of starting a Web 2.0 company. This deck also includes resources for entrepreneurs living in the Willamette Valley (Oregon).

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Start Up Wisdom Humor

  1. 1. Start-up wisdom humor Caroline Cummings Director of Entrepreneurial Development | Eugene Chamber of Commerce
  2. 2. Top 10 Reasons Why A Start-up Fails
  3. 3. The Single Founder 1
  4. 4. The Wrong Team 2
  5. 5. Marketing- Heavy Tech-Heavy 2
  6. 6. Wrong Legal Team! 3
  7. 7. 4 Boiling the Ocean
  8. 8. Not Talking to Customers 5
  9. 9. Stealth to Long.. 6
  10. 10. Slow to Launch… 6
  11. 11. 7 Stuck on Original Idea
  12. 12. Wrong Location! 8
  13. 13. Founder-itis! 9
  14. 14. Spending too much money 10
  15. 15. Lessons…
  16. 16. Go With Your Gut!!!
  17. 17. Ask potential business attorney… • Emerging growth business before? • How much time for you? • Raised multiple rounds of financing? • Create/Read a Capitalization Table? • Developed a PPM? • Compensation packages for new hires? • IP protection? • Global expansion? • Experience with exits – M&As, IPO, quit? • Talk to current/former client?
  18. 18. Date BEFORE Marriage!
  19. 19. Key Team Must Have Skin in the Game!
  20. 20. Don’t Take “Dumb Money”
  21. 21. Include Customers in your R&D k Ask Listen Do Than clude In
  22. 22. Believe You Can Win!
  23. 23. Local Support for Entrepreneurs Willamette Angel Network
  24. 24. Mission… To improve the climate of Oregon’s Willamette Valley emerging growth-oriented companies
  25. 25. Focus… • Education – Workshops, webinars, coaching, mentoring… • Networking – Pub-Talks, socials, Ning community… • Capital Development – Angel and venture development, strategic partnerships…
  26. 26. www.smartups.org
  27. 27. smartups.ning.com
  28. 28. • The first investor conference of its kind • Regional approach to entrepreneurial dev • Corvallis this year – Eugene next year… • Modeled after Angel Oregon and Bend Venture Conference
  29. 29. Model… • 25 accredited investors at $5,000/each – $1 M personal net worth or $200K/year • 200 attendees • 44 business plans • 6 companies pitched 10 mins • 5 companies pitched Ignite (3.5 mins) • One winner: $125,000 in seed funding • One conference/year (Corvallis/Eugene)
  30. 30. Goals… – Connect entrepreneurs with expertise and financing for success – Increase skills of entrepreneurs – Increase number and engagement of angel investors – Promote our region as a vital market for new venture development
  31. 31. May 13, 2010 in Eugene
  32. 32. Local angels… • Accredited Angels from Lane County – Worth minimum of $1M in assets – Earn minimum of $200K/year • Review business plans • Eugene Chamber conducts due diligence/ screening for good deal flow • Company pitches 4x/year • Chose whether to invest – Individually – Co-invest
  33. 33. Summary to engage… • Attend Smart-ups on Jul 23rd at OES • Subscribe to smartups.org RSS Feed • Free Review of your exec summary/PPT • Join smartups.ning.com (community) • Join OEN.org | “virtual membership” – $35 students/40 individuals
  34. 34. Thank You! carolineineugene@gmail.com

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