Your SlideShare is downloading. ×
0
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Funding your ideas (angel or VC) - thoughts and ideas
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Funding your ideas (angel or VC) - thoughts and ideas

2,735

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
2,735
On Slideshare
0
From Embeds
0
Number of Embeds
5
Actions
Shares
0
Downloads
53
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  1. Funding your ideas…<br />T.A. McCann<br />
  2. I just like to start things, <br />go fast and push the technical limits, <br /> and work with great teams <br />to create incredible results<br />Background<br />
  3. Incubation<br />Microsoft - Hosted Exchange, MS Anti-spam, Exchange 2003, Mobile SDP (think iPhone app store), MSR<br />Polaris - started Message Gate and worked on ideas like Evenflow, OutlookBI and HelpShare<br />New companies including MOD Systems and Jump2Go <br />Vulcan (Evri – Virtual Worlds, Faceweb, Gist)<br />30-60-90 plan<br />Triage, Plan, Prototype, 4Ps of marketing, Company or Kill<br />Lessons learned: it always takes longer, pick a customer you want to embrace, <br />Know your own space<br />
  4. Where does it come from…<br />Your bank account<br />Bootstrap (work for hire)<br />Bootstrap from customers<br />Strategic investment by partners/customers<br />Angels<br />VCs<br />Choose what you need and can get…<br />The bigger the idea, the more latitude and connections and experience you will need to succeed<br />
  5. So, you really want investors….<br />Angles take just as much time as VCs<br />Relationships are key; <br />develop them now with all funding sources<br />vet your ideas, early and often, discover your champions<br />Other CEOs are your friends, leverage them<br />Your plan is your plan <br />Raise money at the right time<br />Plan – Promise – Prototype – Product – Performance<br />
  6. VC is about smart money…<br />Accelerates value as soon as they get involved<br />Brings smarts and experience to help to drive<br />Actively engages with your product and market<br />Brings credibility, higher likelihood of more funding<br />Brings people, knowledge, connections<br />Know what you are looking for (skills)<br />
  7. It’s a sales process<br />Qualify your prospects<br />Who you know, focus on personal intros<br />Previous investments/success in the space<br />General beliefs about future innovation (in your space)<br />Key connections with thought leaders (in your space)<br />Fund progress<br />$ total size, allocation, room for new investments, stage focus<br />Current success<br />Decision makers and process<br />Board member – how many boards, of what type, activity, commitment<br />Do your diligence on the person, find other CEOs<br />Drive the process and timeline<br />Align to the calendar (your milestones, their rhythm)<br />Show a vision (not too much)<br />Define a horizon and hit it<br />Create competition for your deal<br />Gang up your work, you need to drive the process<br />
  8. Why you…<br />25% of the VC decision is out of your control<br />Wrong space, wrong size, wrong partner, wrong metrics, wrong time, already invested, once burned…<br />You have the goods, act like it – exude confidence<br />My read on their decision<br />50% is the guy/team – smart, passionate, credible, connected, leader, motivator, tactical/strategic….<br />25% is the space/idea – how big, how much risk, how many other players, capital risk, likely exits…<br />25% is the progress, execution – can you get stuff done, good decisions, efficient with capital…<br />
  9. Summary<br />If it were easy everyone would do it<br />Love your customers more than your idea<br />Raise the smartest money you can<br />Know where to spend and save<br />If you were rich, would you still be doing it?<br />
  10. T.A. McCann<br />tam@gist.com<br />http://tamccann.blogspot.com<br />http://www.twitter.com/tamccann<br />http://www.linkedin.com/in/tamccann<br />206.229.9991 <br />
  11. Strategy – magic quadrant <br />Create the smallest circle that is big enough<br />You can only change 1 thing/quarter<br />This is your elevator pitch<br />Lessons learned: it should not be complicated<br />
  12. Strategy – know your customer<br />Personify your customer<br />Focus on pain vs. opportunity<br />Know 10-50 by name<br />Sell them your PPT<br />Make sure they pay<br />Understand their toolset<br />Determine their buying habit and timeline<br />Lessons learned: this is the fun part and you should love it, iterate quickly<br />
  13. Operations<br />Plan and Pitch in PPT (lies), Operate in Excel (truth)<br />Time bound and list your goals – stay honest with yourself<br />Deliver email status updates every 2 weeks to your investors/board/advisors<br />Always cut yourself off one quarter earlier than you need and 2 quarters before you think you should<br />Lessons learned: good entrepreneurs will make too many sacrifices<br />
  14. Team<br />Winning the Americas Cup is like running a startup<br />Value = 5(passion) + 2(brains) + 1(experience)<br />The best advisors are only one small step away from conflict of interest<br />Outsource routine tasks, hire for thought leadership<br />Know your service providers (Atlas, Fenwick…)<br />Startups should never partner with startups<br />
  15. You are the VP of Marketing<br />Make yourself a brand and thought leader<br />Goto and present at conferences<br />Become a guest contributor<br />Communicate online and in-person<br />Blog (1-2 per month)<br />Twitter (1-2 per day, blend of personal, content and business)<br />Facebook (connect to Twitter and your blog)<br />LinkedIn<br />Understand what resonates, the message the space and timing, the competition<br />Sell, Sell, Sell your idea and yourself<br />
  16. Tools that cost very little money<br />Open source stack<br />Prototype + LowPro, Ruby/Rails, Java, AMQ, MySql <br />Textmate/Netbeans, SVN, Rspec, CruiseControl<br />Google is our friend<br />Google Domains (mail and docs)<br />Google forms (interview and VC feedback tracking)<br />App engine – web site hosting<br />Analytics – web data tracking<br />PBWiki – corporate plans and broad strategy, Unfuddle – bug and feature database and Skitch – screen caps and comments<br />Soft Layer – hosting, Amazon S3 – storage<br />Survey Monkey - end user surveys, Vertical Response – keeping the beta users engaged and GotoMeeting- presentations, TweetDeck– monitoring the Twitter stream<br />

×