I don’t need your money a**hole

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Barcamp Malaysia KL presentation 24/04/2010
Chu Tzu Ming
http://www.impersuasion.com

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  • The tools and leverage section is what I am taking when I launch my website. I also like the quote by Robert Kyiosaki
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I don’t need your money a**hole

  1. 1. I Don’t Need Your Money A**hole <br />Chu Tzu Ming<br />Persuasion Media<br />www.impersuasion.com<br />Note: Applicable for software/ web type companies only coz I know nothing <br />much about anything else <br />
  2. 2. Why I am Here<br />I became moderately good at Excel after 10 years in the venture capital industry.<br />I have scars and tattoos to share with you. <br />I had to unlearn what I learned in the last 18 months. (Personal development BS here)<br />I don’t want you to go through the same crap I did.<br />“You don’t get extra points for learning things the hard way “ – Mr. Kawasaki<br />
  3. 3. Textbook Model (Kilang Model)<br />Write Bplan (30 pages and forecasts)<br />Form Team<br />What’s wrong with this?<br />Nothing. It just doesn’t work very often.<br />Get Funding<br />Oh, that’s the risk inherent in early stage companies, too bad…<br />Build Prototype<br />Marketing<br />The ones that succeed – know who to sell to somehow and end up doing what they did b4.<br />Sell/Hire Sales guy<br />RIP<br />
  4. 4. How Things Get Screwy<br />Investors:<br />Buy into hype, invest into business plans, track record, greed.<br />Have no idea how capable teams were for current project<br />No understanding of leverage points or competitive advantage<br />General understanding of business only – credit analysis not business analysis<br />They don’t have visibility on when they should put more or leave.<br />They invest in crooks<br />Some think they can run the company.<br />Many behave like they own the company.<br />
  5. 5. How Things Get Screwy<br />Founders:<br />They don’t know what problem they’re solving, feature driven instead. (Kiasu style)<br />They confuse a feature with a product.<br />LACK OF FOCUS, Keep changing biz models.<br />They don’t know if customer thinks they add value. (The “I think so” syndrome)<br />They don’t know who’s going to buy immediately<br />They always say I need the money first to start. Many end up getting old.<br />Fighting with investorsFellow founders are lazy bastards/greedy/ team problem/ husband and wife/bf/gf<br />
  6. 6. This Lean Startup* Thing… (1MSM)<br />Evaluate Team/Equity contribution<br />Write 2 page Bplan<br />Form Team<br />Small Funding/<br />Bootstrap/MSI<br />Sell/Hire Sales guy<br />Build Prototype/ MVP<br />Repeat Orders/ Feedback<br />VC Round: Optional<br />Test Marketing<br />Refining Sales Methodology<br />Scale<br />Note*: Eric Ries, Steve Blank’s Four Steps to the Epiphany<br />
  7. 7. Tools & Leverage<br />Minimum Viable Product (MVP)<br />LAMP<br />Unfuddle/ Github<br />Wordpress<br />APIs, GOOG, FB, ROR, Odesk<br />PPC<br />Survey monkey/Poll daddy<br />Google Analytics/Crazy egg<br />Website optimizer<br />Cialdini<br />Direct response Marketing<br />Dan Kennedy/Joe Polish<br />Harry Beckwith<br />Negotiation Skills<br />Viral Loop (Tell a friend), FB<br />Automated Email marketing/sequences<br />SEO/Online PR/Online PR<br />Build Prototype<br />Test Marketing<br />Traffic, bootstrap<br />FB groups, fan pages<br />Refining Sales Methodology<br />Scaling<br />
  8. 8. Resources<br />Eric Ries, Steve Blank’s blogs<br />Quicksprout.com<br />Viral Loop- Adam Penenberg<br />Founders at work - Livingston<br />Books on dealing with difficult people<br />Praying<br />Discipline through exercise<br />Dave McClure’s prez on Slideshare<br />Rework – Jason Fried/David Hansson<br />The Web startup success guide- Bob Walsh<br />www.impersuasion.com<br />

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