LET’S TALK STARTUP
Passion of CEO is the single differentiator between
doing ok and doing well
What a Startup is not!
• Startups Are Not Smaller Versions
of Large Companies
• Large Companies Execute Known
• Startups Search for Unknown Business
What’s a Startup
A Temporary Organization
Designed to SEARCH
•Be the aspirin.
Critical Success Factor: Make.Meaning.
• world class product (whatever it is)
• have fun doing it
• in a business area or segment that is at
its “ground floor” and in its infancy
• Value proposition
Be the aspirin for your
Don’t fall in love with the technology.
Fall in love with the customer
•Be a Pig.
What R U?
3. Team up. Get co-founders.
4. Evangelize idea.
5. Get great Mentors.
6. Public speaking training.
7. Pitch. Pitch. Pitch.
8. Network. Network. Network
• Write /Revise BP.
• Do Not Self - Fulfill (your) prophecies.
• There is always competition.
• Build the product fast. MVP.
• Test it.
• Fail Fast. Re-build. Retest.
• Get Traction.
Lean Startup Methodology
R u scared? Good.
Let’s talk money
• Same everywhere
• SV: Just because there are VC funds doesn’t mean
they will fund your start-up
• Silicon Valley update - 8:10 do not get funded
• VCs don’t really jump to invest in early stage….
– Funder of Pandora.com got rejected by 300 investors…
• Plan to build your company without any outside
• Then maybe you are ready to speak to potential
1. Apply for Crowd-funding (e.g. kickstarter)
2. Get a Loan from 3Fs
3. Apply to Startup… Chile…!
4. Use your Credit Cards
5. Start Side Projects
Money shouldn’t be an objection when you’re starting a
company. Be creative.
Carlos Solorio, Founder of Arden Reed, a custom menswear
Why Startups Fail?
Most startups fail
from lack of customers
not from failure of product development