Ignition! How to Startup a Tech Startup -- 50 tips from the trenches
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Ignition! How to Startup a Tech Startup -- 50 tips from the trenches

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Startup champions Andreas Bauer and Julian Hall share 50 tips on how to start up a tech startup, based on their experience on working with many startups companies.

Startup champions Andreas Bauer and Julian Hall share 50 tips on how to start up a tech startup, based on their experience on working with many startups companies.

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Ignition! How to Startup a Tech Startup -- 50 tips from the trenches Presentation Transcript

  • 1. ©  Andreas  Bauer  &  Julian  Hall  
  • 2. ©  Andreas  Bauer  &  Julian  Hall   2  
  • 3. “I’m  excited  to  announce  that  we’ve  agreed  to  acquire  WhatsApp   and  that  their  entire  team  will  be  joining  us  at  Facebook.”   Mark  Zuckerberg,  February  19  at  2:16pm  near  PaloAlto,  CA,  United  States   www.facebook.com/zuck/posts/10101272463589561   “WhatsApp  is  well  worth  $19  billion”   CNN  Opinion:  By  Michael  Wolf,  February  24,  2014  -­‐-­‐  Updated  1924  GMT     ediYon.cnn.com/2014/02/21/opinion/wolf-­‐facebook-­‐whatsapp/   WHAT  MAKES  WHATSAPP  SO  VALUABLE  IN  OUR  OPINION?   1.  A  popular  and  easy-­‐to-­‐use  product   2.  A  large  market  and  user  base  (over  450  million)   3.  A  well  funded  company   4.  An  outstanding  team,  with  Jan  Koum  now  joining  Facebook’s  Board   WHAT  CAN  STARTUPS  LEARN  FROM  THIS  SUCCESS  STORY?   ★  EXCEL  IN  ALL  OF  THESE  FOUR  ASPECTS…    50  TIPS   ©  Andreas  Bauer  &  Julian  Hall   3  
  • 4. 1.  Build  it  and  they  will  come…  is  a  no  no   2.  Build  only  products  that  solve  real  customer  problems   or  saYsfy  real  customer  desires   3.  Don’t  underesYmate  barriers  to  adopYon  &  barriers  to  entry   in  the  marketplace…  where  the  rubber  meets  the  road   4.  Achieve  first-­‐mover  advantage  and  differenYate…  but  how   5.  Tame  the  Yger…  miYgate  technology  risk  and  market  risk   6.  Pivot  the  product  to  stay  alive   7.  Make  product  innovaYon  a  reality   8.  Outsource  your  development,  …or  don’t…  it  depends   9.  Don’t  give  away  equity  for  technology,  …or  should  you?   It  depends…  again   10.  Go  mobile  from  day  one   11.  Scale  the  business  as  soon  and  fast  as  you  can   12.  Protect  your  IP   4  ©  Andreas  Bauer  &  Julian  Hall  
  • 5. ©  Andreas  Bauer  &  Julian  Hall   5  
  • 6.   13.  MiYgate  the  market  risk  to  avoid  the  involuntary  exit  (going  bust)   14.  Pitch  your  idea  and  get  your  message  across   15.  Target  your  audience  to  create  share  of  mind  and  convert  it   into  conYnuous  sales   16.  Control  your  customer  acquisiYon  cost   17.  Define  and  develop  your  routes  to  market  wisely   18.  Learn  how  to  sell  to  the  corporate  and  SME  market   19.  Use  SEO/SEM  effecYvely   20.  Understand  social  media  markeYng  and  use  it  to  your  benefit   21.  Make  inbound,  outbound  and  guerilla  markeYng  work   22.  Use  freemium  models,  …but  only  where  they  make  sense   23.  Up-­‐sell  as  much  as  possible   24.  Go  and  sell  abroad,  …but  when  and  how   ©  Andreas  Bauer  &  Julian  Hall   6  
  • 7. ©  Andreas  Bauer  &  Julian  Hall   7  
  • 8.   25.  Understand  what  investors  are  looking  for   26.  Learn  how  to  get  investment  pre  and  post-­‐revenue   27.  Find  the  right  investor(s)  for  you   28.  Learn  how  to  approach  angel  investors  and  VCs   29.  Consider  crowd  funding   30.  Develop  your  funding  roadmap…     know  how  much  money  you  should  ask  for   31.  Understand  valuaYon…  know  how  much  equity  to  give  away   32.  Become  investment  ready   33.  Prepare  your  investment  pack   34.  Prepare  your  pitch…  and  go  pitching   35.  Develop  your  business  plan   36.  Learn  about  metrics  and  apply  them  to  your  business   ©  Andreas  Bauer  &  Julian  Hall   8  
  • 9. ©  Andreas  Bauer  &  Julian  Hall   9  
  • 10.   37.  Learn  how  to  become  a  lean  startup   38.  Choose  your  CEO  wisely   39.  Build  a  team  with  the  right  balance  of  technical   and  business  skills   40.  Hire  your  CFO   41.  Akract  the  best  people  to  grow  your  team   42.  Get  non-­‐execuYves  and  advisors  on  board   43.  Pay  your  staff  and  give  them  equity   44.  Build  a  high-­‐performing  team   45.  Don’t  boil  the  ocean   46.  Keep  your  team  on  track  and  get  stuff  done   47.  Lead  from  the  front  and  lead  from  the  back   48.  Manage  your  company  properly   ©  Andreas  Bauer  &  Julian  Hall   10  
  • 11. ©  Andreas  Bauer  &  Julian  Hall  
  • 12.   49.  Read  our  book  and  learn  from  others   by  Andreas  Bauer  &  Julian  Hall   available  on  Amazon   see:  www.TheIgniYonBook.com   50.  Apply  lessons  learned  and  be  successful!!!   ©  Andreas  Bauer  &  Julian  Hall