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Startup Camp Montreal - Keynote
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Startup Camp Montreal - Keynote Presentation Transcript

  • 1. Michael Montano FOUNDER, BACKTYPE
  • 2. IDEAS The value of an idea is approximately equal to the time it takes to come up with another one
  • 3. Entrepreneurs spend too much “ time worrying about protecting their ideas and not enough time launching them!” —Mike Speiser, Sutter Hill Ventures
  • 4. PRODUCTS Most startups fail because they don’t build something people want
  • 5. The minimum viable product is “ the product that only has core, tent-pole features so you can ship a product that resonates with early adopters; some of whom will pay you money or give you feedback.” —Eric Ries, IMVU
  • 6. ITERATION Successful companies iterate in response to reality
  • 7. runway # iterations = speed of iterations cash runway = burn rate
  • 8. FAILURE An entrepreneur’s education comes from failure
  • 9. “As an entrepreneur, you have to get used to failure. It's just a part of the path to success.” —Mark Pincus, Zynga
  • 10. VALUE Create more value than you capture
  • 11. Our mission is to organize the “ world’s information and make it universally accessible and useful.” —Google
  • 12. TRACTION Fear not getting traction
  • 13. “The biggest problem facing any website is distribution.” —Reid Homan, LinkedIn
  • 14. RISK Tolerance for risk is a massive advantage startups have over incumbents
  • 15. When PayPal first launched, it “ was pretty clear that their product violated the operating rules for Visa, Mastercard and American Express — and violated banking regulations is more than 40 dierent states.”
  • 16. MONEY Raising money is like finding a black swan
  • 17. http://www.venturehacks.com/
  • 18. ENTREPRENEURSHIP Be realistic about what you want
  • 19. THANKS E mm@backtype.com T @michaelmontano