These are UPDATED slides from a keynote I delivered on January 20, 2011 at GameOn Finance in Toronto. Enjoy!
For an questions, please feel free to contact me on Twitter - @margaretwallace
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10 Immutable Truths of Entrepreneurship (Updated Keynote)
1. 10 Immutable Truths of Entrepreneurship Margaret Wallace, CEO, Playmatics Twitter: @MargaretWallace
2. About Me Entrepreneur Adviser Inventor Margaret Wallace, CEO, Playmatics Twitter: @MargaretWallace Tech, Media, Gaming Focus
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4. About Playmatics A company that creates highly engaging games, media, user experiences and applications on the Internet, as part of social media networks, and on a variety of connected platforms.
14. What is your tolerance for risk? Is your business a lifestyle? What are the likely exit scenarios? Takeaway: Don’t Chase After The Money, Go Inside and Find Out What Makes You “Tick.”
19. How VCs Rate Your Chances of Success Break-Out Success Break-Even #FAIL Takeaway: VC & Start-Up Goals Are Not Always in Alignment.
20. “To the VC, 3x [exit] and a dead startup are essentially the same given the way they calculate their batting averages. At this point you have a problem.” Hillel Cooperman, Jackson Fish Market, Web startup in Seattle.
21. Strength of Idea Market Size Strength of Team Competition Takeaway: VCs are all about managing risk. The more risk you remove, the more comfort they have with you.
23. “The Unspoken Language of Pitching Game” Good,Bad, Indifferent? * Instructions: I give you a few scenarios and you tell me if that’s good, bad or indifferent. * Based on Personal Experiences.
24. The Unspoken Language of Pitching Game Scenario: First-time pitching this VC firm. You are incredibly detailed and on-point. You Leave No Stone Unturned. Good,Bad, Indifferent? (Bad!)
25. The Unspoken Language of Pitching Game Scenario: Recently Made a Lot of Investments in Your Space Good,Bad, Indifferent? (Indifferent) * * Can Be A Bad Sign
26. The Unspoken Language of Pitching Game Scenario: First meeting with Partners. They offer you water and copious treats. Good,Bad, Indifferent? (Bad!)
27. The Unspoken Language of Pitching Game Scenario: First meeting All the Partners are in the Room Meeting Lasts 1 hour Everyone Checking Their Blackberries/iPhone Mid-way through – start joking about girls in bikinis. Good,Bad, Indifferent? (Good!)
28. The Unspoken Language of Pitching Game Scenario: An Associate of the VC Firm Calls You because they are impressed with your business and want to learn more. Good,Bad, Indifferent? (Bad!)* * Or KOD (Kiss of Death)
29. The Unspoken Language of Pitching Game Scenario: Second Follow-Up Meeting: Person You’re Scheduled With Can’t Make it – Meeting with an Associate or Different Partner. Good,Bad, Indifferent? (Bad)!
30. The Unspoken Language of Pitching Game Scenario: First meeting All the Partners are in the Room Meeting Lasts 2 hours Agree with Everything You Say Good,Bad, Indifferent? (Indifferent) * Was Bad for Us
31. The Unspoken Language of Pitching Game Scenario: First meeting with a Partner Talking About Industry Gossip Meeting Lasts 1 hour. Good,Bad, Indifferent? (Bad!)