Strategies for Startup Success

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    Strategies for Startup Success - Presentation Transcript

    1. Strategies for Startup Success Sim Simeonov Polaris Venture Partners [email_address] http://simeons.wordpress.com
      • The wiser speakers refused to talk on this subject
      • The same strategies that have the highest probability of extreme success also have the highest probability of extreme failure --Guy Kawasaki
      http://simeons.wordpress.com/2007/02/21/guy-kawasaki-why-good-strategies-fail/
      • How much risk did PayPal take on?
      Livingston, Jessica. Founders At Work. p6 (interview with Max Levchin)
      • Poor analysis of the wrong data in a mythological context
      • Limited or inaccurate data
      • Correlation vs. causation
      • Omitted variable bias
      • Sensationalism
      • Most of the industry’s effort is spent analyzing successes
      • Revisionist history due to egocentric ex post facto analysis
      • Why Did YouTube Succeed?
      http://www.youtube.com/watch?v=nssfmTo7SZg (talk by YouTube co-founder Jawed Karim)
      • Success is often the result of avoiding failure by will or luck
    2. Why Do Startups Succeed and Fail? Sim Simeonov Polaris Venture Partners [email_address] http://simeons.wordpress.com
      • The more thoughtful speakers refused to talk on this subject
      • What do “success” and “failure” mean?
      • Company “A” raises $100+M of institutional capital and goes public at $2.4B valuation
      • Company “F” raises $2M and sells for $20M
      • Company “M” raises 500K and shuts down six months later
      • Innovation?
      • Market share?
      • Revenues?
      • Impact?
      • Employees?
      • Execs?
      • Founders?
      • Angel investors?
      • Institutional investors?
      • Efficient experimentation is critical to any evolutionary system
      • Success and failure are not useful analysis targets
    3. The Startup Environment Sim Simeonov Polaris Venture Partners [email_address] http://simeons.wordpress.com
      • Emily is a helluva persuader
      • Experienced investors
      • National focus
      • $3B under management
      • Diversified across stage & sectors
      • Active partner with entrepreneurs
      • Great track record
      • The technology industry has changed substantially in the past few years
    4.  
    5.  
    6.  
    7.  
    8. Technology
    9. $1,000M $1,000M $100M $100M $10M $40M The leader The #3 player
      • Winners used to be selected by the market. Now they are anointed through M&A
      • How successful would Flickr have been without Yahoo?
      • Sustainable differentiation and solid execution
      • Superior execution
      • Cut the right deal(s)
      • Network effects
      • Protectable technology enables a defensible business model
    10.  
      • It is the best of times, it is the worst of times
      • Sim Simeonov
      • Polaris Venture Partners
      • [email_address]
      • http://simeons.wordpress.com

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