Tips & Tricks for 1 st  Timers Ishay Green
Scope <ul><ul><li>Things I think you should pay attention to in order to avoid fucking up your first startup </li></ul></ul>
YOUR LIFE 1
Your Life <ul><ul><li>Your family is an obstacle on your way to becoming rich… </li></ul></ul>
Your Life <ul><ul><li>…  and don’t get me started on marriage and children </li></ul></ul>
Your Life <ul><ul><li>NOT! </li></ul></ul>
Your Life <ul><ul><li>Your new startup is just an episode in your life’s journey </li></ul></ul>
Your Life <ul><ul><li>Are having 100 Million dollars at the age of 45 worth missing your youth?  </li></ul></ul>
CO-FOUNDERS 2
Co-Founders Finding good partners is more difficult than raising capital for a lousy Idea
Co-Founders - Integrity Integrity is #1 quality
Co-Founders <ul><ul><li>Work with your co-founders for a while, reach significant understandings and put them in  writing ...
Co-Founders - Integrity <ul><ul><li>Identify the partners’ weaknesses </li></ul></ul>
Co-Founders Divide work and responsibility. Trust your partners
THE IDEA 3
The Idea <ul><ul><li>Revolution  </li></ul></ul><ul><ul><li>VS  </li></ul></ul><ul><ul><li>Evolution </li></ul></ul>
The Idea <ul><ul><li>Stay in your domain of expertise </li></ul></ul>
The Idea <ul><ul><li>Know everything there is to know about the idea space </li></ul></ul>
The Idea <ul><ul><li>Research; talk to as many non-believers as possible </li></ul></ul>
The Idea <ul><ul><li>Don't be too secretive, ideas are trivial compared with their execution </li></ul></ul>
The Idea <ul><ul><li>Prepare a short executive summary presenting your vision </li></ul></ul>
The Idea <ul><ul><li>Don’t expect to raise $1M with a shitty paper written in bad Ingleesh </li></ul></ul>
The Idea <ul><ul><li>Challenge yourself by picking a goal that will stretch your capabilities and determination to their l...
The Idea <ul><ul><li>If you are 100% certain it can be done, you are probably not far enough ahead of the competition </li...
The Idea <ul><ul><li>Make sure that your startup is not built over a loop hole </li></ul></ul>
THE TEAM 4
The Team <ul><ul><li>Startups cannot afford any spare heads </li></ul></ul><ul><ul><li>(Lean & Mean) </li></ul></ul>
The Team <ul><ul><li>If someone doesn't deliver, let them go </li></ul></ul>
The Team <ul><ul><li>Recruit the core people on a trust basis </li></ul></ul>
The Team <ul><ul><li>Don't hire good developers </li></ul></ul>
The Team <ul><ul><li>Aim for a positive and optimistic team   </li></ul></ul><ul><ul><li>(You cannot afford more then one ...
EXECUTION 5
Execution <ul><ul><li>Never Under Estimate the Power Of Denial </li></ul></ul>
Execution <ul><ul><li>Be, and stay involved </li></ul></ul>
Execution <ul><ul><li>Do not work around the clock – You end up waking the following morning with the same ideas you had t...
Execution <ul><ul><li>“ Brick walls are there to stop the people who don’t want it badly enough” </li></ul></ul><ul><ul><l...
Execution <ul><ul><li>Work like you're a startup, design like you're Microsoft </li></ul></ul>
Execution <ul><ul><li>Use best-of-breed tools, do not reinvent the wheel </li></ul></ul>
Execution <ul><ul><li>Invest in proper framework, it pays for itself down the road </li></ul></ul>
Execution <ul><ul><li>Be dynamic, re-factor and rewrite! </li></ul></ul>
Execution <ul><ul><li>Think minimal </li></ul></ul>
Execution <ul><ul><li>Perfection is achieved, not when there is nothing more to add, but when there is nothing left to tak...
Execution <ul><ul><li>Beware of minimal </li></ul></ul>
Execution <ul><ul><li>Study your competition and adjust your product in order to beat them in every aspect </li></ul></ul>
Execution <ul><ul><li>Talk to potential customers from day 1 </li></ul></ul>
Execution <ul><ul><li>Technological crisis is part of the game. When overcoming it, it is called IP. </li></ul></ul>
Execution <ul><ul><li>Accept the fact that uncertainty, doubt and anxiety will dog you </li></ul></ul>
BUSINESS PLAN & FINANCE 6
Finance & Business Plan <ul><ul><li>Plan everything. Review it with a lot of people </li></ul></ul>
Finance & Business Plan <ul><ul><li>Before you refuse funding – think thrice </li></ul></ul>
Finance & Business Plan <ul><ul><li>Currency – Plan for the worst  </li></ul></ul><ul><ul><li>(Unimaginable but… 1 USD mig...
Finance & Business Plan <ul><ul><li>Always pay attention to the fuel gauge </li></ul></ul>
LEGAL 7
Legal <ul><ul><li>Think of the legal aspects of your startup – There are many illegal ways to make money </li></ul></ul><u...
Legal <ul><ul><li>Think of the legal aspects of your startup – There are many illegal ways to make money </li></ul></ul><u...
INSIGHTS 8
General Startup Insight <ul><ul><li>Startup has no memory </li></ul></ul>
General Startup Insight <ul><ul><li>Startup valuation is fluid </li></ul></ul>
General Startup Insight <ul><ul><li>Find your gurus </li></ul></ul><ul><ul><li>(I am available) </li></ul></ul>
General Startup Insight <ul><ul><li>Beware of name droppers </li></ul></ul>
Last Slide…. <ul><ul><li>Take it easy! </li></ul></ul><ul><ul><li>Hysteria makes you act stupid </li></ul></ul>
<ul><ul><li>Thanks! </li></ul></ul>
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Mit Forum Ishay Green tips for first timers

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Mit Forum Ishay Green tips for first timers

  1. 1. Tips & Tricks for 1 st Timers Ishay Green
  2. 2. Scope <ul><ul><li>Things I think you should pay attention to in order to avoid fucking up your first startup </li></ul></ul>
  3. 3. YOUR LIFE 1
  4. 4. Your Life <ul><ul><li>Your family is an obstacle on your way to becoming rich… </li></ul></ul>
  5. 5. Your Life <ul><ul><li>… and don’t get me started on marriage and children </li></ul></ul>
  6. 6. Your Life <ul><ul><li>NOT! </li></ul></ul>
  7. 7. Your Life <ul><ul><li>Your new startup is just an episode in your life’s journey </li></ul></ul>
  8. 8. Your Life <ul><ul><li>Are having 100 Million dollars at the age of 45 worth missing your youth? </li></ul></ul>
  9. 9. CO-FOUNDERS 2
  10. 10. Co-Founders Finding good partners is more difficult than raising capital for a lousy Idea
  11. 11. Co-Founders - Integrity Integrity is #1 quality
  12. 12. Co-Founders <ul><ul><li>Work with your co-founders for a while, reach significant understandings and put them in writing </li></ul></ul>
  13. 13. Co-Founders - Integrity <ul><ul><li>Identify the partners’ weaknesses </li></ul></ul>
  14. 14. Co-Founders Divide work and responsibility. Trust your partners
  15. 15. THE IDEA 3
  16. 16. The Idea <ul><ul><li>Revolution </li></ul></ul><ul><ul><li>VS </li></ul></ul><ul><ul><li>Evolution </li></ul></ul>
  17. 17. The Idea <ul><ul><li>Stay in your domain of expertise </li></ul></ul>
  18. 18. The Idea <ul><ul><li>Know everything there is to know about the idea space </li></ul></ul>
  19. 19. The Idea <ul><ul><li>Research; talk to as many non-believers as possible </li></ul></ul>
  20. 20. The Idea <ul><ul><li>Don't be too secretive, ideas are trivial compared with their execution </li></ul></ul>
  21. 21. The Idea <ul><ul><li>Prepare a short executive summary presenting your vision </li></ul></ul>
  22. 22. The Idea <ul><ul><li>Don’t expect to raise $1M with a shitty paper written in bad Ingleesh </li></ul></ul>
  23. 23. The Idea <ul><ul><li>Challenge yourself by picking a goal that will stretch your capabilities and determination to their limit </li></ul></ul>
  24. 24. The Idea <ul><ul><li>If you are 100% certain it can be done, you are probably not far enough ahead of the competition </li></ul></ul>
  25. 25. The Idea <ul><ul><li>Make sure that your startup is not built over a loop hole </li></ul></ul>
  26. 26. THE TEAM 4
  27. 27. The Team <ul><ul><li>Startups cannot afford any spare heads </li></ul></ul><ul><ul><li>(Lean & Mean) </li></ul></ul>
  28. 28. The Team <ul><ul><li>If someone doesn't deliver, let them go </li></ul></ul>
  29. 29. The Team <ul><ul><li>Recruit the core people on a trust basis </li></ul></ul>
  30. 30. The Team <ul><ul><li>Don't hire good developers </li></ul></ul>
  31. 31. The Team <ul><ul><li>Aim for a positive and optimistic team </li></ul></ul><ul><ul><li>(You cannot afford more then one downer) </li></ul></ul>
  32. 32. EXECUTION 5
  33. 33. Execution <ul><ul><li>Never Under Estimate the Power Of Denial </li></ul></ul>
  34. 34. Execution <ul><ul><li>Be, and stay involved </li></ul></ul>
  35. 35. Execution <ul><ul><li>Do not work around the clock – You end up waking the following morning with the same ideas you had the day before.. </li></ul></ul>
  36. 36. Execution <ul><ul><li>“ Brick walls are there to stop the people who don’t want it badly enough” </li></ul></ul><ul><ul><li>(Randy Pauch) </li></ul></ul>
  37. 37. Execution <ul><ul><li>Work like you're a startup, design like you're Microsoft </li></ul></ul>
  38. 38. Execution <ul><ul><li>Use best-of-breed tools, do not reinvent the wheel </li></ul></ul>
  39. 39. Execution <ul><ul><li>Invest in proper framework, it pays for itself down the road </li></ul></ul>
  40. 40. Execution <ul><ul><li>Be dynamic, re-factor and rewrite! </li></ul></ul>
  41. 41. Execution <ul><ul><li>Think minimal </li></ul></ul>
  42. 42. Execution <ul><ul><li>Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away. </li></ul></ul><ul><ul><li>(Antoine de Saint-Exupery) </li></ul></ul>
  43. 43. Execution <ul><ul><li>Beware of minimal </li></ul></ul>
  44. 44. Execution <ul><ul><li>Study your competition and adjust your product in order to beat them in every aspect </li></ul></ul>
  45. 45. Execution <ul><ul><li>Talk to potential customers from day 1 </li></ul></ul>
  46. 46. Execution <ul><ul><li>Technological crisis is part of the game. When overcoming it, it is called IP. </li></ul></ul>
  47. 47. Execution <ul><ul><li>Accept the fact that uncertainty, doubt and anxiety will dog you </li></ul></ul>
  48. 48. BUSINESS PLAN & FINANCE 6
  49. 49. Finance & Business Plan <ul><ul><li>Plan everything. Review it with a lot of people </li></ul></ul>
  50. 50. Finance & Business Plan <ul><ul><li>Before you refuse funding – think thrice </li></ul></ul>
  51. 51. Finance & Business Plan <ul><ul><li>Currency – Plan for the worst </li></ul></ul><ul><ul><li>(Unimaginable but… 1 USD might worth less than 4 shekels one day!!) </li></ul></ul>
  52. 52. Finance & Business Plan <ul><ul><li>Always pay attention to the fuel gauge </li></ul></ul>
  53. 53. LEGAL 7
  54. 54. Legal <ul><ul><li>Think of the legal aspects of your startup – There are many illegal ways to make money </li></ul></ul><ul><ul><li>(If you are interested talk to me after the presentation) </li></ul></ul>
  55. 55. Legal <ul><ul><li>Think of the legal aspects of your startup – There are many illegal ways to make money </li></ul></ul><ul><ul><li>(If you are interested talk to me after the presentation) </li></ul></ul>
  56. 56. INSIGHTS 8
  57. 57. General Startup Insight <ul><ul><li>Startup has no memory </li></ul></ul>
  58. 58. General Startup Insight <ul><ul><li>Startup valuation is fluid </li></ul></ul>
  59. 59. General Startup Insight <ul><ul><li>Find your gurus </li></ul></ul><ul><ul><li>(I am available) </li></ul></ul>
  60. 60. General Startup Insight <ul><ul><li>Beware of name droppers </li></ul></ul>
  61. 61. Last Slide…. <ul><ul><li>Take it easy! </li></ul></ul><ul><ul><li>Hysteria makes you act stupid </li></ul></ul>
  62. 62. <ul><ul><li>Thanks! </li></ul></ul>

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