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I don’t need your money a**hole

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Barcamp Malaysia KL presentation 24/04/2010 …

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

Published in: Business

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

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