Your Money or Your Life: 6 Rules<br />September 2011<br />
Who is this Guy?<br />2<br /><ul><li>McKinsey & Company
Startups: PointCast, When.com
Austin Ventures, Madrona Venture Group
Microsoft
Optify</li></li></ul><li>Today’s Entrepreneur: Lots of Options, Even More Questions<br />?<br />?<br />Should I raise ange...
VC Rule #1: The Most Important Day<br />Entrepreneur: The day you release your product / service<br />VC: The day you run ...
VC Rule #2: Swing for the Fences<br />Entrepreneur: All your eggs in one basket<br />VC: Lots of eggs, lots of baskets<br ...
VC Rule #3: Scale Up<br />Entrepreneur: When you’re ready (Lean Startup)<br />VC: When you have the money<br /> Page 6<br />
VC Rule #4: Return on Investment<br />Entrepreneur: Set for life<br />VC: “You can’t eat IRR”<br /> Page 7<br />
VC Rule #5: Liquidity<br />Entrepreneur: As soon as possible<br />VC:When we say so<br /> Page 8<br />
VC Rule #6: Companies<br /><ul><li>Entrepreneur: People, products, culture, legacy
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Brian Goffman StartupDay 2011 Speech

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Brian Goffman StartupDay 2011 Speech

  1. 1. Your Money or Your Life: 6 Rules<br />September 2011<br />
  2. 2. Who is this Guy?<br />2<br /><ul><li>McKinsey & Company
  3. 3. Startups: PointCast, When.com
  4. 4. Austin Ventures, Madrona Venture Group
  5. 5. Microsoft
  6. 6. Optify</li></li></ul><li>Today’s Entrepreneur: Lots of Options, Even More Questions<br />?<br />?<br />Should I raise angel or venture capital?<br />How do I get the best VC terms and valuation?<br />?<br />?<br />When and how do I get liquidity?<br />Should I join an “accelerator”?<br />“All I ask is the chance to prove that money doesn’t make me happy.”<br />-Spike Mulligan<br /> Page 3<br />9/17/2011<br />
  7. 7. VC Rule #1: The Most Important Day<br />Entrepreneur: The day you release your product / service<br />VC: The day you run out of money (OOC)<br /> Page 4<br />
  8. 8. VC Rule #2: Swing for the Fences<br />Entrepreneur: All your eggs in one basket<br />VC: Lots of eggs, lots of baskets<br /> Page 5<br />
  9. 9. VC Rule #3: Scale Up<br />Entrepreneur: When you’re ready (Lean Startup)<br />VC: When you have the money<br /> Page 6<br />
  10. 10. VC Rule #4: Return on Investment<br />Entrepreneur: Set for life<br />VC: “You can’t eat IRR”<br /> Page 7<br />
  11. 11. VC Rule #5: Liquidity<br />Entrepreneur: As soon as possible<br />VC:When we say so<br /> Page 8<br />
  12. 12. VC Rule #6: Companies<br /><ul><li>Entrepreneur: People, products, culture, legacy
  13. 13. VC: Return on investment</li></ul> Page 9<br />
  14. 14. Raising Money = Long Term Relationship<br /> Page 10<br />
  15. 15. Words of Wisdom<br />“What’s the use of happiness? It can’t buy you money!”<br />-Henny Youngman<br />“Speed is irrelevant if you are going in the wrong direction.”<br />-M Ghandi<br /> Page 11<br />
  16. 16. Brian Goffman, CEO & Co-Founderbrian@optify.net<br /> Page 12<br />
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