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 …

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.

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  • 1. @fdestin SURVIVING YOUR FIRST 24 MONTHS @fdestin
  • 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. VC LP C VC LP C VC LP C TRACTION TECH TEAM
  • 4. COMPANY RANK INVESTMENTRETURN PERCEIVED ACTUAL 1 1x 5x 10x 10 20
  • 5. UPSIDE GLIMMER OF GREATNESS IMPACT CAPITAL CONCENTRATION
  • 6. GET OUT OF THE BUILDING YOUR COMFORT ZONE THE MAGIC HAPPENS HERE
  • 7. START UP KILLERS TALENT TIME CHOICES CASH
  • 8. DEFEAT STARTS @ HOME FAMILY FRIENDS PEOPLE YOU DON’T KNOW
  • 9. RETHINK TIME $$$$ Q1 RECRUIT Q2 LAUNCH Q3 METRICS $ Q3 LAUNCH Q1 REHIRE Q2 BACKEND $ Q3 METRICS SERIES A #ftw SERIES SEED #forsurvival Q1 RECRUIT Q2 LAUNCH
  • 10. BEAT THE CRUNCH $$$$ DEVELOP PRODUCT $ ANGELLIST SERIES SEED $$ SERIES A #ftw F&F KICKSTARTER CAMPAIGN $ $
  • 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. Mantra: CIMITYM
  • 13. FOCUS
  • 14. START UP SURVIVAL MAKING IT THROUGH YOUR FIRST 24 MONTHS