StartupDay 2011 Speech - The Stuff Nobody Talks About

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The practical, yet obvious things that often get overlooked in the early days of launching a business.

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StartupDay 2011 Speech - The Stuff Nobody Talks About

  1. 1. The shit that no one talks about @MarcNagerSunday, September 18, 2011
  2. 2. A few things first...Sunday, September 18, 2011
  3. 3. Define Startup People 2x Idea = Startup Note: Enterprise = Business Model (Startup) > 0$Sunday, September 18, 2011
  4. 4. What comes first, the team or the idea? Your Idea Team IdeaSunday, September 18, 2011
  5. 5. Validation Who’s problem are you solving?Sunday, September 18, 2011
  6. 6. It’s not all about $$ Funding ≠ Success Only 16 percent of the fastest-growing and most successful companies in the US had venture financingSunday, September 18, 2011
  7. 7. Do you have full Commitment? diff btw. co-founder and an employee “...oh yeah, i have a developer working for me.”Sunday, September 18, 2011
  8. 8. Have all of these? Team Validation Commitment Let’s go....Sunday, September 18, 2011
  9. 9. Welcome to the Real WorldSunday, September 18, 2011
  10. 10. Startup101 A few things to not F-up 1. Work/Life Balance 2. Company Culture 3. Mentors 4. Legal 5. AccountingSunday, September 18, 2011
  11. 11. Work/Life Balance Working long hours doesn’t mean you are working smartSunday, September 18, 2011
  12. 12. CultureSunday, September 18, 2011
  13. 13. Sunday, September 18, 2011
  14. 14. Sunday, September 18, 2011
  15. 15. Advisors/Mentors The early believers 1. Find people that care 2. Be strategic 3. Bad advice can kill you 4.Your job isn’t to impress themSunday, September 18, 2011
  16. 16. Legal 1. “Don’t incorporate a hobby” 2. No lawyer should charge for advice 3.You get what you pay for 4. Don’t Sign NDAsSunday, September 18, 2011
  17. 17. Founders Documents 1.You need a lawyer 2. Keep it simple 3.You MUST have an operating agreementSunday, September 18, 2011
  18. 18. Structure 3 Main Types: LLC, S-Corp, C-Corp LLC/S-Corp - If you WILL NOT take funding C-Corp - If you WILL take funding ~$2,500 for basic filings Build a relationship.You will need them again.Sunday, September 18, 2011
  19. 19. Accounting Money is never an easy topic...Sunday, September 18, 2011
  20. 20. Accounting Do-s 1. Know your REAL burn rate 2. An annual budget 3. Accounting System 4. Know your runwaySunday, September 18, 2011
  21. 21. Accounting Don’t-s 1. Operate on a CASH basis 2. Use your personal accounts 3. Fall behind 4. Hire a FT person until economics of time make senseSunday, September 18, 2011
  22. 22. QuickBooks up and runningSunday, September 18, 2011
  23. 23. DocumentationSunday, September 18, 2011
  24. 24. Taxes & Filings SOOO MANY! State, City, Federal, other... DON’T BE LATE! Make a system of reminders Put it on the wall!Sunday, September 18, 2011
  25. 25. Other things... Practice your pitch! Assume you suck You will have shitty days Track the metrics that matter Don’t talk to all the big guys first Act bigger than you areSunday, September 18, 2011
  26. 26. At the end of the day... Pivot Steal thSunday, September 18, 2011
  27. 27. The people that matter will judge you by what you do, not by what you talk aboutSunday, September 18, 2011

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