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Mark Suster - The Startup Conference LA 2011
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Mark Suster - The Startup Conference LA 2011

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Mark Suster - The Startup Conference LA 2011 Mark Suster - The Startup Conference LA 2011 Presentation Transcript

  • 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
    • Software Development at Accenture
    • BuildOnline (’ 99)
    • Koral (’ 05)
    • VP Product Mgmt, Salesforce.com
    • VC in Los Angeles
    BothSid.es This Week in VC
  • 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, Lawyers, Real Estate Friends, Family & Fools
  • 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 a Ho
  • </end>