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Startups

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  • 1. Startups Ryan Junee ryan@junee.org http://ryanjunee.com
  • 2. My Background Mind Idea Execute Pitch Exit Questions?
  • 3. My Background Mind Idea Execute Pitch Exit Questions?
  • 4. Learned a Lot
  • 5. 2007: Started Omnisio
  • 6. Funded by Y Combinator (Winter 2008)
  • 7. 9 months later...
  • 8. 1 year later...
  • 9. 2010: Quit YouTube, brainstorming (w/ Max Skibinsky)
  • 10. 2011: Founded Inporia
  • 11. Raised $1.3M from top silicon valley investors
  • 12. Epic Fails Pivots
  • 13. Epic Fails Pivots 12 months
  • 14. Epic Fails Pivots 12 months 3 months
  • 15. Epic Fails Pivots 12 months 3 months 2 months
  • 16. Epic Fails Pivots 12 months 3 months 2 months 11 months
  • 17. Epic Fails Pivots 12 months 3 months 2 months 11 months
  • 18. We are still going (currently 200k users)
  • 19. Mentoring:Investing:
  • 20. Mentoring:Investing:
  • 21. My Background Mind Idea Execute Pitch Exit Questions?
  • 22. Figure it out as you go...
  • 23. My Background Mind Idea Execute Pitch Exit Questions?
  • 24. Your Idea: credit: Peter Thiel
  • 25. What is yourpassion?
  • 26. Consumer distribution, distribution, Internet distribution Enterprise Build and manage Software a sales teamEnergy, Biotech, Solve hard AI, ... technical problems
  • 27. Choose yourco-founder(s) carefully
  • 28. Accelerator programsnetworking fundraising mentorship http://www.seed-db.com/accelerators
  • 29. My Background Mind Idea Execute Pitch Exit Questions?
  • 30. FOCUS
  • 31. Use Surveys to Decide • Google Docs Form + Amazon Mechanical Turk • AYTM.com Inporia v1.0
  • 32. Minimize Cycle Time credit: Eric Reis
  • 33. AARRR! credit: Dave McClure
  • 34. Before Product-Market Fit: • Retention (do they come back?) • Engagement (time/actions on site) • Mobile: reviews/ratings
  • 35. Talk to customers!
  • 36. Easiest Simple questions: Qualaroo • “What else would you like to see on this page?” • “How likely are you to recommend this? (NPS)” Video testing: usertesting.com In-person interviews • Craigslist • 45 mins / $20Most Information
  • 37. After Product-Market Fit: • Growth in DAU We are not quite there yet!
  • 38. My Background Mind Idea Execute Pitch Exit Questions?
  • 39. SingleSentenceElevator Pitch 30 seconds‘Demo Day’ 2 minutes10-slide deck 20 minutes
  • 40. Elements of a pitch1. Single Sentence 6. Business Model2. The Problem 7. Distribution3. Your Solution 8. ‘Secret Sauce’4. Product Demo 9. Team5. Market Size 10. Milestones more...
  • 41. Fundraising in Silicon Valley • Seed Stage: (200K - 2M): Convertible Note • Series A (2M - 5M): Equity
  • 42. Seed Valuations Going Up Source: Fenwick & West + my estimate
  • 43. My Background Mind Idea Execute Pitch Exit Questions?
  • 44. Who would you rather be? “Companies are bought, not sold”
  • 45. Acqui-hires in Silicon Valley Seed Stage Funding Supply of Engineers Acqui-hires• ‘Soft landing’ for failed startups• $1M - $2M per engineer• 2 - 4 years vesting• Payback investors (sometimes)
  • 46. My Background Mind Idea Execute Pitch Exit Questions?
  • 47. Questions? Ryan Junee ryan@junee.org http://ryanjunee.com