DeMatha Leadership Institute Talk

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My talk from DeMatha Leadership Institute 2014

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DeMatha Leadership Institute Talk

  1. 1. Startups 101 Danny Boice, Co-Founder & President Speek
  2. 2. Startups are the #1 tool for new wealth generation in the World.
  3. 3. Mark Zuckerberg, Facebook Born to middle class parents in upstate NY Founded Facebook in his dorm room when he was 19 Facebook is currently valued at nearly $150 billion 52nd richest person in the World 29 years old
  4. 4. Sergey Brin, Google Immigrated to the US from the Soviet Union at the age of 6 Founded Google in dorm room when he was 23 Took Google public 6 years later Estimated net worth of $30 billion
  5. 5. Elon Musk, Tesla & SpaceX Fled South Africa at the age of 17 - Became US Citizen in 2002 Exited Zip2 in 1999 making himself $22 million personally. He was 28. Exited PayPal in 2002 making himself $165 million personally. He was 31. Currently the Founder & CEO of TWO publicly traded companies: Tesla and SpaceX. Net worth is over $12 billion
  6. 6. Jessica Herrin, Stella & Dot Founded WeddingChannel at age of 24 and sold for $65 million Founded Stella & Dot in 2004 Stella & Dot recently valued at $1 billion
  7. 7. Aaron Patzer, Mint Founded mint.com in 2007 2 years later Mint was acquired by Intuit for $170 million He was 28 years old
  8. 8. Max Levchin, PayPal Founded PayPal in 1998 4 years later PayPal went public making Max a millionaire eBay later bought PayPal making Max another $34 million He was 27 years old
  9. 9. Jeff Arnold, WebMD Founded WebMD when he was 20 Within 1 year the company was valued at $20 billion Retired in 2000 from WebMD He was 30 years old
  10. 10. Jared Hecht, GroupMe Founded GroupMe when he was 23 Within 1 year the company acquired for $100 million He was 24 years old
  11. 11. I founded Speek 2 years ago. Speek recently received an 8 figure valuation.
  12. 12. About Me Speek Co-Founder & President Harvard & MIT Exited First Startup in 2006 Georgetown Professor Forbes Columnist @DannyBoice
  13. 13. About Speek $6 Million In Venture Capital 2 Years Old Hundreds Of Thousands Of Users Millions Of Calls Exponential Growth @SpeekApp www.Speek.com
  14. 14. Speek Press
  15. 15. What have I learned so far?
  16. 16. Small Businesses Are NOT Startups
  17. 17. Startups vs Small Businesses A Restaurant, Barber Shop, Bookstore, Consulting Company, Etc. Is Not A Startup! Different DNA (Exponential Growth) Staff Size Does Not Equate To Revenue Technology (Web & Mobile) Not Physical Locations Fail Fast
  18. 18. The “Trough of Sorrows”
  19. 19. Startup Success Is Simple (In Theory)
  20. 20. A (Successful) Startup Requires 3 Things Product Users Money
  21. 21. Product
  22. 22. Web and Mobile Apps Most Startups Fail Because They Build Something Nobody Wants Startup Success Is Science Not Art Fail Fast / Scientific Method
  23. 23. The Lean Startup Most Startups Fail Because They Build Something Nobody Wants Startup Success Is Science Not Art Fail / Learn / Evolve
  24. 24. Get It Right And You See This
  25. 25. Users
  26. 26. User Acquisition 101 Acquisition Activation Retention Referral Revenue AARRR, cap'n! Get to know your subscribers.
  27. 27. Tactics Viral Loop Word of Mouth Freemium Referrals Content SEO / Google / Bing Social Media Press Paid / Ads
  28. 28. Get It Right And You See This
  29. 29. Money
  30. 30. Revenue 101
  31. 31. Common Revenue Models Subscriptions Freemium Ads Pay As You Go License
  32. 32. Get It Right And You See This
  33. 33. If You’re Gonna Fail, Fail Fast
  34. 34. Lead Through Example
  35. 35. Create A Culture Of Excellence
  36. 36. Make A Lot Of Noise - BE LOUD
  37. 37. Enjoy The Journey
  38. 38. Let’s Discuss

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