7 Things I've Learned as a Tech Entreprenuer

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Presented at Startup Weekend Bergen 2012, I've added some notes to each slide so they make a little more sense without accompaniement.

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7 Things I've Learned as a Tech Entreprenuer

  1. 1. Start-up Weekend 7 things I’ve learned (slides with added notes) January 2012, Bergen Norway
  2. 2. 5 1-3-1 I come from Cambridge, live in London & SF, done 5 start-ups, 1 exit 3 fails and 1 TBD, I love skiing, flying and film
  3. 3. 1. Team – Your key job as CEO is: <ul><li>“ to hire and retain awesome talent.” </li></ul>
  4. 4. 1. Team – Make sure your co-founder is complimentary to you, Huddle Co-Founders are a great example
  5. 5. 1. Team – Follow your gut when hiring people and hire slow, fire quickly
  6. 6. 1. Team – Delegate. If someone can do something 70% as well as you, delegate it – unless it is hiring or fund raising !
  7. 7. <ul><li>Get a Co-Founder but better none than the wrong one! </li></ul><ul><li>Issue Founder shares and give generous share options to the team </li></ul><ul><li>70% rule: Delegate except for Fund raising & Hiring </li></ul><ul><li>Hire slow, fire quickly follow your gut! </li></ul>
  8. 8. 2. Focus – Do one thing well!
  9. 9. 2. Focus – playtxt did too much so it was hard to attract an initial market following.
  10. 10. Golden Rule: Do 1 thing really well first.
  11. 11. 2. Focus – Also focus on one platform
  12. 12. 2. Focus – Too many platforms early stage means resources are diluted, iteration is slowed
  13. 13. 2. Focus – even big guys started off with focus <ul><li>better search, faster </li></ul>
  14. 14. 2. Focus <ul><li>Do one thing really well </li></ul><ul><li>Be clear about the problem you’re solving! </li></ul><ul><li>Don’t do too many platforms </li></ul>
  15. 15. 3. Practise – Have a one line pitch, like “Jaws in Space” for the Alien movie. Make sure its simple.
  16. 16. 3. Practise – allegedly it takes 10,000 hours to become an expert, so practise does make perfect
  17. 17. 4. Timing is everything – make sure your market is ready for your amazing new thing 2002 2003 2004 2008
  18. 18. 4. Timing – beware of being in a bubble and suffering the curse of knowledge
  19. 19. 4. Timing is everything Smart Phones
  20. 20. 5. Fail fast <ul><li>4,000 signups </li></ul><ul><li>70,000 signups </li></ul>
  21. 21. 5. Fail fast <ul><li>Do you want better recommendations? </li></ul><ul><li>Yes. </li></ul><ul><li>..except No. </li></ul>
  22. 22. 5. Fail fast – Read this great book
  23. 23. 6. Funding – it’s a marriage; get to know your potential investor – go great drunk with them BEFORE you sign the deal!
  24. 24. 5. Funding – it always take double to build and three times the time to raise money. @ £
  25. 25. 7. Love what you do!
  26. 26. 7. Love – can be a long road, I spoke to over 200 investors or Rummble
  27. 27. 7. Love – Starbucks Founder spoke to 234 people before he got his first investment 234
  28. 28. “ Never under-estimate the value of a good hangover” @andrewjscott
  29. 29. Feel free to contact me. @andrewjscott [email_address]

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