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Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
Strategies for Startup Success by Simeon Simeonov
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Strategies for Startup Success by Simeon Simeonov

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Sim Simeonov gave this presentation at a Startup Bootcamp meeting.

Sim Simeonov gave this presentation at a Startup Bootcamp meeting.

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  • 1. Strategies for Startup Success
    Simeon Simeonov (@simeons)
    Founder & CEO, FastIgnite
    http://sim.vc/about
  • 2. Founding. Funding. Growing. Startups.
  • 3. Why Me?
    The wiser speakers refused to talk on this subject
  • 4. Strategy Paradox
    The same strategies that have the highest probability of extreme success also have the highest probability of extreme failure--Guy Kawasaki
    http://simeons.wordpress.com/2007/02/21/guy-kawasaki-why-good-strategies-fail/
  • 5. Case Study: PayPal
    How much risk did PayPal take on?
    Livingston, Jessica. Founders At Work. p6 (interview with Max Levchin)
  • 6. Flawed Thinking About Startups
    Poor analysis of the wrong data in a mythological context
  • 7. Poor Analysis of Startup Success
    Limited or inaccurate data
    Correlation vs. causation
    Omitted variable bias
    Sensationalism
  • 8. Sample Bias
    Most of the industry’s effort is spent analyzing successes
  • 9. Ego
    Revisionist history due to egocentric ex postfacto analysis
  • 10. Case Study: YouTube
    Why Did YouTube Succeed?
    http://www.youtube.com/watch?v=nssfmTo7SZg (talk by YouTube co-founder Jawed Karim)
  • 11. Conclusion
    Success is often the result ofavoiding failure by will or luck
  • 12. Therefore…
    A better title for a talkabout startup success is…
  • 13. Why Do Startups Succeed and Fail?
    Simeon Simeonov (@simeons)
    Founder & CEO, FastIgnite
    http://sim.vc/about
  • 14. Why Me?
    The more thoughtful speakers refused to talk on this subject
  • 15. Semantics, Semantics
    What do “success” and “failure” mean?
  • 16. Case Study: “A”
    Company “A” raises $100+M of institutional capital and goes public at $2.4B valuation
  • 17. Case Study: “F”
    Company “F” raises $2M and sells for $20M
  • 18. Case Study: “M”
    Company “M” raises 500K and shuts down six months later
  • 19. Pop Quiz
    Which of A, F & M succeededand which failed?
  • 20. The Right Measure of Success
    Innovation?
    Market share?
    Revenues?
    Impact?
  • 21. Success For Whom?
    Employees?
    Execs?
    Founders?
    Angel investors?
    Institutional investors?
  • 22. The Score
    Company A
    Founders & execs did very well
    Investors were under water after IPO lock-out
    Company F
    Lead founder made $8M
    Investors got >=2x their money
    Company M
    Successful experiment inside a large VC firm
  • 23. Failure is Data
    Efficient experimentation is critical to any evolutionary system
  • 24. Conclusion
    Success and failure are notuseful analysis targets
  • 25. Therefore…
    A better title for a talkabout startup success is…
  • 26. Succeed Your Own Way
    Simeon Simeonov (@simeons)
    Founder & CEO, FastIgnite
    http://sim.vc/about
  • 27. Why Me?
    I’ve succeeded and failed enough times to have pattern recognition
  • 28. One Thing to Remember
    You need to understand what startup success means for you
  • 29. Corollary #1
    You must understand what drives you
  • 30. Corollary #2
    You must ignore ecosystem and societal definitions of success
  • 31. Corollary #3
    You must not be afraid to fail in the eyes of others
  • 32. Failure is Data
    At a minimum, you learn a lot about yourself
  • 33. How Much Wealth Do You Want?
    For most people, the marginal utility of wealth diminishes rapidly
  • 34. Wealth vs. Risk
    When you have nothing it may be easier to risk everything. However, a base level of wealth may allow for greater risk taking in the future
  • 35. Rich vs. King
    You cannot grow beyond a certain point without ceding a lot of decision-making authority
  • 36. Success in Emerging Markets
    The more turbulent the environment, the greater the benefit of ignoring established definitions of success
  • 37. Success & Happiness
    It is much easier to be both happy & successful if you drive how success is measured
  • 38. Conclusion
    As an entrepreneur, you have the right & responsibility to succeed your own way

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