Experiences of a first-time Entrepreneur Manish Rathi Co-founder http://alpha.retrevo.com

Outline The Idea The Team Fund Raising Acquiring customers Skills to acquire

The Idea

The Team

Fund Raising

Acquiring customers

Skills to acquire

Forms of Tech Entrepreneurship Consulting Self Funded Angel/Venture Funding Within a Corporation

Consulting

Self Funded

Angel/Venture Funding

Within a Corporation

Source of the Idea Fundamental Innovation Originating from Regulation Changing Market Dynamics Gap Analysis from your work experience

Fundamental Innovation

Originating from Regulation

Changing Market Dynamics

Gap Analysis from your work experience

Evaluating the Idea Aspirin or Vitamin? How big is the TAM? Can the business be “Repeatable”? Is the solution “Simple”? Are the price points profitable? Evolve the idea based on feedback

Aspirin or Vitamin?

How big is the TAM?

Can the business be “Repeatable”?

Is the solution “Simple”?

Are the price points profitable?

Evolve the idea based on feedback

The Team How are you uniquely qualified? Does your team have business experience? Are your personal objectives aligned? Simple equity structures Has someone done it before?

How are you uniquely qualified?

Does your team have business experience?

Are your personal objectives aligned?

Simple equity structures

Has someone done it before?

Fund Raising Go through referrals Paint the long-term vision Demonstrate something working Raise as little money as needed Order of importance: People, Markets, Product (source: David Ladd, Mayfield Partners) Catch the Wave? Business Plan?

Go through referrals

Paint the long-term vision

Demonstrate something working

Raise as little money as needed

Order of importance:

People, Markets, Product (source: David Ladd, Mayfield Partners)

Catch the Wave?

Business Plan?

The First Customer Be sure you have a win-win solution Find an Early Adopter They believed in you => deliver more than you promised! Quantify that RoI once the project is done They will open the doors to many more customers

Be sure you have a win-win solution

Find an Early Adopter

They believed in you => deliver more than you promised!

Quantify that RoI once the project is done

They will open the doors to many more customers

Skills to hone Ability to change/evolve Balance between Technology and Business Networking Evangelism Presentation Skills Negotiation Skills Be a “Jack of All Trades, Master of ONE”

Ability to change/evolve

Balance between Technology and Business

Networking

Evangelism

Presentation Skills

Negotiation Skills

Be a “Jack of All Trades, Master of ONE”

Parting Thoughts.. Persistence Supportive Family Humor

Persistence

Supportive Family

Humor