Building Upon An Idea

by Alexis Bonte on Oct 05, 2009

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alexis bonte co-founder and CEO of erepublik labs (erepublik.com) slideshow on how to build a start up from an idea, including advice of what makes a good business idea, what you need to make it work a...

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Building Upon An Idea — Presentation Transcript

Building upon an idea!

Agenda
Alexis Bonte
eRepublik
Idea
Team
Fast to Market: Beta / FF
Public / angel
Growth / VC- profits

TradeOK
200k $
10 M $
1.1B $

eRepublik Labs: Massive Multiplayer Online Strategy Games
www.erepublik.com
Based on real W
60 countries
RO: 3rd Power
6M visits / month
150M Page Views
100M Minutes
220K Live citizens
Raised €2,8M
Growth 20% MoM

The idea
Anyone can have an idea
Being the first Helps (not always)
But execution is everything
Regrets = the sum of the risks you did not take
Skill, Focus, Equity (Sweat / Cash) & Luck

What problem do you solve?
Best ideas: simple solution to large problem
Often initial idea won’t be the right one
A good team can turn that around / evolve
Right idea + Bad team = Fail

The Team
Co-founders key
Start with sweat equity
Inexperienced = advantage?
You want smart doers
Not to serious 
No i in Team
CEO must drive the vision

Private Launch, Friends & Family $
Only F&F fund @idea stage unless:
Launch something quickly (make it exclusive)
Get feedback, iterate, improve, validate
At this stage you don’t need lawyers (sorry)
No $ on marketing (thank you social tools)
Learn! Change the idea / product if needed

Public Launch / Angel $
Watch all episodes of “TWIST”
Compete: LeWeb, TC 50, Seedcamp etc.
Get $ from angels or sales
Raising angel $? Now you need a lawyer
Timing for Launch : Depends
Promote like mad
Look bigger than you are
Be cheap & hire slowly fire quickly

Things WILL go Wrong
VC
Angel

Growth / VC $ / Profits
VC $: for successful companies to grow faster
Forget it if not the above or one of these:
You need a lawyer (again), this time $$
To little or to much can kill you / ego trap
VC priority: 1. growth 2. profits Yours: depends
Harder choices, costlier mistakes, FOCUS

Want to make your idea big?
DON’T RUN OUT OF MONEY

YOU WILL EVENTUALLY LAND ON YOUR FEET

Building Upon An Idea

by Alexis Bonte on Oct 05, 2009

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Building Upon An Idea — Presentation Transcript