Startupfest 2013 - Surviving Beyond Seed Tales from The Trenches on Surviving Your First 24 Months - Fred Destin

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Most companies fail in their 24 months. Don't join their ranks. In this no-BS discussion, much-loved seed investor Fred Destin delivers his battle-won list of the key mistakes startups make that kill them early on.

Published in: Business, Economy & Finance
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Startupfest 2013 - Surviving Beyond Seed Tales from The Trenches on Surviving Your First 24 Months - Fred Destin

  1. 1. @fdestin SURVIVING YOUR FIRST 24 MONTHS @fdestin
  2. 2. Fund IX - $265M - April 2013 Top seed investor in New England Investments in MTL : Hopper / Lagoa / Cinemagram Fred Destin Facts: Zoopla ($~90M revenues, 5 years after creation) DailyMotion (200M UU, largest European site) PriceMinister (9M monthly shoppers, $250M Sale to Rakuten)
  3. 3. VC LP C VC LP C VC LP C TRACTION TECH TEAM
  4. 4. COMPANY RANK INVESTMENTRETURN PERCEIVED ACTUAL 1 1x 5x 10x 10 20
  5. 5. UPSIDE GLIMMER OF GREATNESS IMPACT CAPITAL CONCENTRATION
  6. 6. GET OUT OF THE BUILDING YOUR COMFORT ZONE THE MAGIC HAPPENS HERE
  7. 7. START UP KILLERS TALENT TIME CHOICES CASH
  8. 8. DEFEAT STARTS @ HOME FAMILY FRIENDS PEOPLE YOU DON’T KNOW
  9. 9. RETHINK TIME $$$$ Q1 RECRUIT Q2 LAUNCH Q3 METRICS $ Q3 LAUNCH Q1 REHIRE Q2 BACKEND $ Q3 METRICS SERIES A #ftw SERIES SEED #forsurvival Q1 RECRUIT Q2 LAUNCH
  10. 10. BEAT THE CRUNCH $$$$ DEVELOP PRODUCT $ ANGELLIST SERIES SEED $$ SERIES A #ftw F&F KICKSTARTER CAMPAIGN $ $
  11. 11. YOUR JOB MAKE DECISIONS UNDER CONDITIONS OF UNCERTAINTY DEFINE THE MISSION FOCUS ONLY ON THE MISSION MOVE THE BALL DOWN THE FIELD EVERY DAY
  12. 12. Mantra: CIMITYM
  13. 13. FOCUS
  14. 14. START UP SURVIVAL MAKING IT THROUGH YOUR FIRST 24 MONTHS

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