What 2 Guys Learned From Bootstrapping A Start Up

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a Bizcamp 2009 presentation by Dirk Stevens

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What 2 Guys Learned From Bootstrapping A Start Up

  1. 1. <ul><li>What 2 guys learned from bootstrapping a start-up </li></ul><ul><li>(and riding the SeedCamp rapids) </li></ul><ul><li>Dirk Stevens, CEO </li></ul><ul><li>Wondergraphs </li></ul>
  2. 2. Team (1) <ul><li>Trust </li></ul><ul><li>Willingness and ability to persist </li></ul><ul><ul><li>After-hours vs. full-time </li></ul></ul><ul><li>Clear vision on business and product </li></ul>
  3. 3. Team (2) <ul><li>Technology and market background </li></ul><ul><li>“ Holy Trinity” </li></ul><ul><ul><li>Development </li></ul></ul><ul><ul><li>Product </li></ul></ul><ul><ul><li>Business </li></ul></ul>
  4. 4. Business <ul><li>Business = Product * Sales </li></ul><ul><li>Business Model </li></ul><ul><ul><li>What, how, why, to who will you sell </li></ul></ul><ul><ul><li>What value do you create? </li></ul></ul><ul><ul><li>Monetization? </li></ul></ul>
  5. 5. Incorporate (1) <ul><li>Agreement between founders </li></ul><ul><li>Sound business </li></ul>
  6. 6. Incorporate (2) <ul><li>Advisory board </li></ul><ul><li>Costs </li></ul><ul><ul><li>Accounting </li></ul></ul><ul><ul><li>Self-employment </li></ul></ul>
  7. 7. Funding <ul><li>What do you need funding for? </li></ul><ul><li>From easy to hard </li></ul><ul><ul><li>Personal </li></ul></ul><ul><ul><li>Friends, family </li></ul></ul><ul><ul><li>Loan </li></ul></ul><ul><ul><li>Subsidy </li></ul></ul><ul><ul><li>Customer </li></ul></ul><ul><ul><li>Investor </li></ul></ul>
  8. 8. Investors <ul><li>Should bring </li></ul><ul><ul><li>Passion for what you do </li></ul></ul><ul><ul><li>A network of potential customers </li></ul></ul><ul><ul><li>Knowlegde of your market </li></ul></ul><ul><ul><li>Proven track record of success </li></ul></ul><ul><ul><li>Portfolio that fits your company </li></ul></ul>
  9. 9. Operations <ul><li>Infrastructure </li></ul><ul><ul><li>Office space </li></ul></ul><ul><ul><li>Paperwork </li></ul></ul><ul><li>Suppliers </li></ul><ul><ul><li>Quality brands </li></ul></ul>
  10. 10. Technology <ul><li>Asset </li></ul><ul><ul><li>IP Protection </li></ul></ul><ul><li>Build relationship with “centres of innovation” </li></ul><ul><li>Open-source </li></ul><ul><ul><li>For development </li></ul></ul><ul><ul><li>For infrastructure </li></ul></ul>
  11. 11. Human Resources <ul><li>Interns & students </li></ul><ul><li>Requirements </li></ul><ul><ul><li>Infrastructure </li></ul></ul><ul><ul><li>Guidance </li></ul></ul><ul><ul><li>Cash </li></ul></ul>
  12. 12. Product <ul><li>“ Customer development” </li></ul><ul><li>Share ideas with potential customers </li></ul><ul><li>Build prototype so business can go and sell </li></ul><ul><li>Advisory Board </li></ul>

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