What Makes Start-Ups Go Advice for the Unexpected Entrepreneur

Understanding the Entrepreneurial Mindset vs. The Secret Rules of Investors

Reality Cheque Starting One’s Own Business is American Mythology Harris Poll: Starting own Business is 47% of workday fantasies vs. 53% for sex

Starting One’s Own Business is American Mythology

Harris Poll: Starting own Business is 47% of workday fantasies vs. 53% for sex

Motives Matter Making Money vs. Chasing a Dream Owning Your Destiny Consulting is Entrepreneurship

Making Money vs. Chasing a Dream

Owning Your Destiny

Consulting is Entrepreneurship

First, Be Credible! Who and What you stand for: Sets Expectations Earns Permissions

Who and What you stand for:

Sets Expectations

Earns Permissions

Ideal Mindset Passion and Attitude Flexibility Overcoming Obstacles Survival Underwater

Passion and Attitude

Flexibility

Overcoming Obstacles

Survival Underwater

Entrepreneur Self-Check Are you a Salesman Head Coach Technologist Team Leader

Are you a

Salesman

Head Coach

Technologist

Team Leader

Investible vs. Non-Investible Realistic evaluation saves wasted time and long-term credibility Non-investible can change Ill-conceived investible either crashes or never gets off the ground

Realistic evaluation saves wasted time and long-term credibility

Non-investible can change

Ill-conceived investible either crashes or never gets off the ground

View from the VCs Traction Survivability Payday

Traction

Survivability

Payday

Jockey Not the Horse Who you are matters more than the idea

Who you are matters more than the idea

The Secret Hierarchy of Entrepreneurs Successful Serial Entrepreneurs 10 Year Veteran Twentysomething Moonshot Senior Superiority?

Successful Serial Entrepreneurs

10 Year Veteran

Twentysomething Moonshot

Senior Superiority?

Why Your Background Counts Judged by Family Background Explains Your Exposure to a World Tapping Connections Accountable to a Community

Judged by Family Background

Explains Your Exposure to a World

Tapping Connections

Accountable to a Community

VC Dream Team Chief Salesman Technologist CFO

Chief Salesman

Technologist

CFO

Investible High Growth Area Inside Access Solving Known Problem Proven Team Selling Mentality/Self-Start Skin in the Game

High Growth Area

Inside Access

Solving Known Problem

Proven Team

Selling Mentality/Self-Start

Skin in the Game

Non-Investible …. but possibly financable Growing Consultancy Lifestyle Business (Service, Shop, Restaurant, B&B etc.) Franchise

Growing Consultancy

Lifestyle Business

(Service, Shop, Restaurant, B&B etc.)

Franchise

Who Got Money – Who Didn’t Understand the Investor Psychology The Science of Referrals : Implicit Association Test Hot Growth Area

Understand the Investor Psychology

The Science of Referrals : Implicit Association Test

Hot Growth Area

How to Enhance Expectations Anticipate career baggage Appear Flexible Passionate and Salesmanlike vs. Too Certain and Presumptuous Pragmatic vs. Perfecting Skin in the Game (Overt or implied)

Anticipate career baggage

Appear Flexible

Passionate and Salesmanlike

vs. Too Certain and Presumptuous

Pragmatic vs. Perfecting

Skin in the Game (Overt or implied)

You’re In It For the Long Haul Be Positive Leave the Door Open Stay credible and eventually you’ll win

Be Positive

Leave the Door Open

Stay credible and eventually you’ll win

Common Errors Grand Ideas Unified Field Theories (Wormholes OK) Feelings/Help the World No Skin in the Game Not High Growth (10x)

Grand Ideas

Unified Field Theories (Wormholes OK)

Feelings/Help the World

No Skin in the Game

Not High Growth (10x)

What to Avoid “ Head of State” “ Chief Advisor” “ Resident Guru” “ Mr. Rolodex/Mr. Golf” – unless you do sales. Billable hours mentality

“ Head of State”

“ Chief Advisor”

“ Resident Guru”

“ Mr. Rolodex/Mr. Golf”

– unless you do sales.

Billable hours mentality

Know Your Close…Without Being Closed Have a realistic valuation based on reasonable comparables Know standard deal structures Show flexibility but not spinelessness

Have a realistic valuation based on reasonable comparables

Know standard deal structures

Show flexibility but not spinelessness

Good Luck!

Entrepreneurs on Prime Time