American Idol - Bootstrapping

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My bootstrapping preso from the MIT Enteprise Forum 2010

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  • Alex, Great presentation! I will share with StartupHouston viewers as well. One question. Any video or speaker notes?
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American Idol - Bootstrapping

  1. 1. Living
the
Dream
 an
investment
opportunity
.
.
.

  2. 2. Living
the
Dream
 an
investment
opportunity
.
.
.
 Investment
Sought:
$1,150,000
 Timeframe:
12
months

 Poten7al
Return:
10X

  3. 3. Living
the
Dream
 an
investment
opportunity
.
.
.
 Salary
for
me:
$120,000
/
12
months
 Weight
reduc7ons
and
fitness
program:
$120,000
/
9
months

  4. 4. Living
the
Dream
 an
investment
opportunity
.
.
.
 Hair
Transplant:
$90,000
/
6
months
 Cosme7c
Surgery:
$120,000
/
9
month
 Wardrobe
&
Stylist:
$400,000
/
1
month

  5. 5. Living
the
Dream
 an
investment
opportunity
.
.
.
 Voice
Training:
$100,000
/
12
months
 Guitar
Lessons:
$100,000
/
12
months
 Dance
Lessons:
$100,000
/
12
months

  6. 6. Living
the
Dream
 an
investment
opportunity
.
.
.
 Are
you
in?
 You
shouldn’t
be…

  7. 7. Your
dreams
and
ideas
 don’t
own
you…

  8. 8. Thesis:
 It
is
a
great
7me
to

 start
a
business
in
Texas!

  9. 9. But,
you
say…
 •  There
are
few
ac@ve
VCs
leD
in
Texas
.
.
.
 •  The
angels
are
broke
.
.
.

  10. 10. It
doesn’t
maPer
.
.
.
 The
VC
model
is
dying
(for
now)
AND
VC
money
is
usually
bad
for
your
business!
 ‐  VC/Angel
investment
=
lower
chance
of
a
1‐5x
return
 ‐  VC/Angel
investment
=
higher
chance
of
complete
failure
 ‐  VC/Angel
investment
=
slower
exit
(typically
a
decade)
 …oh,
did
I
men,on,
you
have
a
 50%
chance
of
ge7ng
fired
in
the
 first
year
a<er
a
VC
investment?

  11. 11. What
kind
of
business
should
you
start?
 –  What
are
you
passionate
about?
 –  What
experience
do
you
have?
 –  How
much
money
do
you
have?
 –  How
much
money
can
you
raise?
 –  How
likely
is
your
business
to
succeed?
 
Gates
(so<ware),
Dell
(resale)
and
Cuban
 (service)
started
businesses
that
 generated
posi,ve
cash
from
the
start,
 they
did
not
need
much
(if
any)
outside
 investment.


  12. 12. Revolu7on
Ropes
 Sandy
Stephens
 ‐  BeSer
ropes
 ‐  $60MM
market
 ‐  Part‐@me
un@l
launch
 ‐  Profitable

  13. 13. ShopSavvy
 Rylan
Barnes
 ‐  BeSer
shopping
 ‐  $12B
market
 ‐  Part‐@me
un@l
launch
 ‐  Growth
Stage

  14. 14. RP
Valet
 RP
Payervand
 ‐  BeSer
parking
 ‐  $7B
market
 ‐  Part‐@me
un@l
launch
 ‐  VERY
Profitable

  15. 15. Architel
 ScoP
Ryan
 ‐  BeSer
IT
services
 ‐  $3.2‐10B
market
 ‐  Part‐@me
to
launch
 ‐  Profitable

  16. 16. Be
Capital
Efficient

 •  Start
a
business
you
can
build
without
outside
capital.
 •  Focus
on
services,
soDware
or
technology.
 •  Assume
you
will
need
to
be
profitable.
 •  Start
selling
immediately.
 •  Partner
prolifically.


  17. 17. Ques7ons?

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