Lessons From Both Sides  of the Table Mark Suster The Startup Conference (Nov 2011) @msuster
Agenda 1. Getting Started 2. Raising Money 3. Building Your Business
<ul><li>Software Development at Accenture </li></ul><ul><li>BuildOnline (’ 99) </li></ul><ul><li>Koral (’ 05) </li></ul><u...
1. Getting Started
Have an idea
You don’ t have to be a genius
You just need to get started Most people are just talkers or dreamers
You need to be passionate about it
You No Longer Need to Wait
Be Careful of Too Many Co-Founders Watch what VCs do …
Huge premium for taking the first leap If you’re confident – go for it !!!
2. Raising Money
If possible avoid the three F ’s (Friends, family & fools)
Stack Ranked Angel Options Your Industry, Wealthy Expert Helpful Tech Professional Wealthy Entrepreneur Doctors, Dentist, ...
You need an anchor angel investor
If you show proof the rest usually follows
Don’t Cold Call VCs
In Era of Social Media if You Can’t Get an Intro to a VC, Hang Up Your Cleats Now
Intros from Portfolio, Entrepreneurs, Lawyers, Angels, etc
VCs want  Management ,  Market Size ,  Money  and …. Momentum
You Need to Create a Sense of Urgency
And We All Still Act Like We Did in High School
All Too Often FOMO (Fear of Missing Out) Drives Deals
If it doesn’t feel good when you’re courting, imagine after you’re married
Too Many Entrepreneurs Try to Optimize Time $ Company Progress / Valuation Dilution
When Markets Turn, Progress Might Not = Valuation Time $ Company Progress Valuation
And Some Good Companies Simply Don’t Get Funded Time $ Company Progress Valuation
So When The Hors D’oeuvres Tray is Passed Take Two
And Put One in Your Pocket
Don’t Take the Whole Tray!
Shoot for 18-24 Months of Runway
3. Building Your Business
Create a Sense of Urgency in Your Business
Ship Product The death of many companies is the inability to ship frequently enough
Don’t Let Your PR Get Ahead of Product Quality
Don’t Let a Pivot Become Traveling
You Manage What you Measure
Learn From The Competition. Don’t Discount Them
Triangulate
In the End Trust Your Own Judgment
Focus on large, disruptive markets
Don’t Be a Conference Ho
Solve Real Problems
Skate Where the Puck is Going
Outside Perception of Startups
Reality. Go in Realistic.
Have fun Startups are roller coasters, enjoy the ride!
5 Points to Remember (if nothing else) 1. Get Started 2. Get Yo Money 3. Tackle Real Problems 4. Ship Product 5. Don’t be ...
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Mark Suster - The Startup Conference LA 2011

  1. 1. Lessons From Both Sides of the Table Mark Suster The Startup Conference (Nov 2011) @msuster
  2. 2. Agenda 1. Getting Started 2. Raising Money 3. Building Your Business
  3. 3. <ul><li>Software Development at Accenture </li></ul><ul><li>BuildOnline (’ 99) </li></ul><ul><li>Koral (’ 05) </li></ul><ul><li>VP Product Mgmt, Salesforce.com </li></ul><ul><li>VC in Los Angeles </li></ul>BothSid.es This Week in VC
  4. 4. 1. Getting Started
  5. 5. Have an idea
  6. 6. You don’ t have to be a genius
  7. 7. You just need to get started Most people are just talkers or dreamers
  8. 8. You need to be passionate about it
  9. 9. You No Longer Need to Wait
  10. 10. Be Careful of Too Many Co-Founders Watch what VCs do …
  11. 11. Huge premium for taking the first leap If you’re confident – go for it !!!
  12. 12. 2. Raising Money
  13. 13. If possible avoid the three F ’s (Friends, family & fools)
  14. 14. Stack Ranked Angel Options Your Industry, Wealthy Expert Helpful Tech Professional Wealthy Entrepreneur Doctors, Dentist, Lawyers, Real Estate Friends, Family & Fools
  15. 15. You need an anchor angel investor
  16. 16. If you show proof the rest usually follows
  17. 17. Don’t Cold Call VCs
  18. 18. In Era of Social Media if You Can’t Get an Intro to a VC, Hang Up Your Cleats Now
  19. 19. Intros from Portfolio, Entrepreneurs, Lawyers, Angels, etc
  20. 20. VCs want Management , Market Size , Money and …. Momentum
  21. 21. You Need to Create a Sense of Urgency
  22. 22. And We All Still Act Like We Did in High School
  23. 23. All Too Often FOMO (Fear of Missing Out) Drives Deals
  24. 24. If it doesn’t feel good when you’re courting, imagine after you’re married
  25. 25. Too Many Entrepreneurs Try to Optimize Time $ Company Progress / Valuation Dilution
  26. 26. When Markets Turn, Progress Might Not = Valuation Time $ Company Progress Valuation
  27. 27. And Some Good Companies Simply Don’t Get Funded Time $ Company Progress Valuation
  28. 28. So When The Hors D’oeuvres Tray is Passed Take Two
  29. 29. And Put One in Your Pocket
  30. 30. Don’t Take the Whole Tray!
  31. 31. Shoot for 18-24 Months of Runway
  32. 32. 3. Building Your Business
  33. 33. Create a Sense of Urgency in Your Business
  34. 34. Ship Product The death of many companies is the inability to ship frequently enough
  35. 35. Don’t Let Your PR Get Ahead of Product Quality
  36. 36. Don’t Let a Pivot Become Traveling
  37. 37. You Manage What you Measure
  38. 38. Learn From The Competition. Don’t Discount Them
  39. 39. Triangulate
  40. 40. In the End Trust Your Own Judgment
  41. 41. Focus on large, disruptive markets
  42. 42. Don’t Be a Conference Ho
  43. 43. Solve Real Problems
  44. 44. Skate Where the Puck is Going
  45. 45. Outside Perception of Startups
  46. 46. Reality. Go in Realistic.
  47. 47. Have fun Startups are roller coasters, enjoy the ride!
  48. 48. 5 Points to Remember (if nothing else) 1. Get Started 2. Get Yo Money 3. Tackle Real Problems 4. Ship Product 5. Don’t be a Ho
  49. 49. </end>

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