#FounderHacksRaj KapoorFounder & Managing Director, cofounder.coVenture Partner, Mayfield Fund                    Investing...
#TrendingTopics Lessons from Snapfish     What Investors Look For Silicon Valley or Not?   cofounder.co
The Snapfish story
Role models are critical
The Aha Moment                Household Internet Connections (M) 20 15 10                                                 ...
Build people networks
Know when to cut the cord;timing matters
Cofounders recommended–fill the gaps       Product/Ops    Leadership/Product      BD/Schmoozing    Tech w/ Business
Early it’s 100% funding,product & recruiting
Raise money wheneveryou can...            ...either before            launch or way after
The harsh reality of themarketplace 3200 2560                          The Snapfish Solution: 1920                     Fre...
The harsh reality of themarketplace 3200 2560                          The Snapfish Solution: 1920                     Fre...
Dealing with failure300          iVillage          The Street.Com225          The Globe          Marketwatch          Pric...
Hunker down, pivot &hope to catch a wavePresent                Future
When it’s working, step on it50,000,00037,500,00025,000,00012,500,000        0             00                   01        ...
Another tough butfortunate choice  Investing in Relationships
Capitalize on luck & timing
Top 10 takeaways from Snapfish
Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it
Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut
Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Pas...
Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Pas...
Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Pas...
Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Pas...
Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Pas...
Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Pas...
Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Pas...
Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Pas...
What investors are looking for
Tectonic shifts createopportunity                   Mobile           Video             Social          UGC            Search
Other big trendsConnected TVs                         Professionals Platforms          Services Marketplace(Similar to mob...
Two Consumer Founder TypesDisruptive New Media          Destinations•   Youthful founders         •   Experienced founders...
B2B/Infrastructure criteria
B2B/Infrastructure criteria•   Experienced internet-focused team
B2B/Infrastructure criteria•   Experienced internet-focused team•   Pain killer vs vitamin
B2B/Infrastructure criteria•   Experienced internet-focused team•   Pain killer vs vitamin•   Frictionless deployment
B2B/Infrastructure criteria•   Experienced internet-focused team•   Pain killer vs vitamin•   Frictionless deployment•   G...
B2B/Infrastructure criteria•   Experienced internet-focused team•   Pain killer vs vitamin•   Frictionless deployment•   G...
B2B/Infrastructure criteria•   Experienced internet-focused team•   Pain killer vs vitamin•   Frictionless deployment•   G...
B2B/Infrastructure criteria•   Experienced internet-focused team•   Pain killer vs vitamin•   Frictionless deployment•   G...
B2B/Infrastructure criteria•   Experienced internet-focused team•   Pain killer vs vitamin•   Frictionless deployment•   G...
B2B/Infrastructure criteria•   Experienced internet-focused team•   Pain killer vs vitamin•   Frictionless deployment•   G...
B2B/Infrastructure criteria•   Experienced internet-focused team•   Pain killer vs vitamin•   Frictionless deployment•   G...
B2B/Infrastructure criteria•   Experienced internet-focused team•   Pain killer vs vitamin•   Frictionless deployment•   G...
Looking for great founders
Looking for great founders•   They know or know of them WELL via network
Looking for great founders•   They know or know of them WELL via network•   Product/user obsession
Looking for great founders•   They know or know of them WELL via network•   Product/user obsession•   Founders who can cod...
Looking for great founders•   They know or know of them WELL via network•   Product/user obsession•   Founders who can cod...
Looking for great founders•   They know or know of them WELL via network•   Product/user obsession•   Founders who can cod...
Looking for great founders•   They know or know of them WELL via network•   Product/user obsession•   Founders who can cod...
Looking for great founders•   They know or know of them WELL via network•   Product/user obsession•   Founders who can cod...
Looking for great founders•   They know or know of them WELL via network•   Product/user obsession•   Founders who can cod...
General tips pitching VCs
General tips pitching VCs✓   Know your TAM – bottoms up
General tips pitching VCs✓   Know your TAM – bottoms up    ✓   Is $100M revenue realistic?
General tips pitching VCs✓   Know your TAM – bottoms up    ✓   Is $100M revenue realistic?    ✓   Is VC or angel funding b...
General tips pitching VCs✓   Know your TAM – bottoms up    ✓   Is $100M revenue realistic?    ✓   Is VC or angel funding b...
General tips pitching VCs✓   Know your TAM – bottoms up    ✓   Is $100M revenue realistic?    ✓   Is VC or angel funding b...
General tips pitching VCs✓   Know your TAM – bottoms up    ✓   Is $100M revenue realistic?    ✓   Is VC or angel funding b...
General tips pitching VCs✓   Know your TAM – bottoms up    ✓   Is $100M revenue realistic?    ✓   Is VC or angel funding b...
General tips pitching VCs✓   Know your TAM – bottoms up    ✓   Is $100M revenue realistic?    ✓   Is VC or angel funding b...
General tips pitching VCs✓   Know your TAM – bottoms up    ✓   Is $100M revenue realistic?    ✓   Is VC or angel funding b...
General tips pitching VCs✓   Know your TAM – bottoms up    ✓   Is $100M revenue realistic?    ✓   Is VC or angel funding b...
General tips pitching VCs✓   Know your TAM – bottoms up    ✓   Is $100M revenue realistic?    ✓   Is VC or angel funding b...
Silicon Valley..... or not?
46%      of VC dollars in Q2      went to Silicon Valley      (Only 12% went to the second place)
75%75%       of ALL venture returns       are in Silicon Valley
The good
The good •   Change the world vs make a buck
The good •   Change the world vs make a buck •   Pay it forward vs look out for yourself
The good •   Change the world vs make a buck •   Pay it forward vs look out for yourself •   Massive information advantage
The good •   Change the world vs make a buck •   Pay it forward vs look out for yourself •   Massive information advantage...
The good •   Change the world vs make a buck •   Pay it forward vs look out for yourself •   Massive information advantage...
The good •   Change the world vs make a buck •   Pay it forward vs look out for yourself •   Massive information advantage...
The good •   Change the world vs make a buck •   Pay it forward vs look out for yourself •   Massive information advantage...
The good •   Change the world vs make a buck •   Pay it forward vs look out for yourself •   Massive information advantage...
The ugly
The ugly•   Cost of living
The ugly•   Cost of living•   Talent war
The ugly•   Cost of living•   Talent war•   Relationship driven*
The ugly•   Cost of living•   Talent war•   Relationship driven*    •   *unless you have amazing momentum
The ugly•   Cost of living•   Talent war•   Relationship driven*    •   *unless you have amazing momentum•   Weather.........
The bottom line
The bottom line•   Silicon Valley if:
The bottom line•   Silicon Valley if:    •   You are thinking BIG
The bottom line•   Silicon Valley if:    •   You are thinking BIG    •   You like swimming with SHARKS
The bottom line•   Silicon Valley if:    •   You are thinking BIG    •   You like swimming with SHARKS    •   Product/serv...
The bottom line•   Silicon Valley if:    •   You are thinking BIG    •   You like swimming with SHARKS    •   Product/serv...
The bottom line•   Silicon Valley if:    •   You are thinking BIG    •   You like swimming with SHARKS    •   Product/serv...
What is Cofounder.co?
What’s missing?
What’s missing?•   Entrepreneurs looking for help, not just money
What’s missing?•   Entrepreneurs looking for help, not just money    •   Accelerators, incubators, angels, mentors/advisor...
What’s missing?•   Entrepreneurs looking for help, not just money    •   Accelerators, incubators, angels, mentors/advisor...
What’s missing?•   Entrepreneurs looking for help, not just money    •   Accelerators, incubators, angels, mentors/advisor...
What’s missing?•   Entrepreneurs looking for help, not just money    •   Accelerators, incubators, angels, mentors/advisor...
What’s missing?•   Entrepreneurs looking for help, not just money    •   Accelerators, incubators, angels, mentors/advisor...
What’s missing?•   Entrepreneurs looking for help, not just money    •   Accelerators, incubators, angels, mentors/advisor...
What’s missing?•   Entrepreneurs looking for help, not just money    •   Accelerators, incubators, angels, mentors/advisor...
What’s missing?•   Entrepreneurs looking for help, not just money    •   Accelerators, incubators, angels, mentors/advisor...
The solution
The solution•   Standardize part-time cofounder role
The solution•   Standardize part-time cofounder role    •   Time & experience for critical decisions
The solution•   Standardize part-time cofounder role    •   Time & experience for critical decisions•   Day a week cadence...
The solution•   Standardize part-time cofounder role    •   Time & experience for critical decisions•   Day a week cadence...
The solution•   Standardize part-time cofounder role    •   Time & experience for critical decisions•   Day a week cadence...
The solution•   Standardize part-time cofounder role    •   Time & experience for critical decisions•   Day a week cadence...
The solution•   Standardize part-time cofounder role    •   Time & experience for critical decisions•   Day a week cadence...
The solution•   Standardize part-time cofounder role    •   Time & experience for critical decisions•   Day a week cadence...
The solution•   Standardize part-time cofounder role    •   Time & experience for critical decisions•   Day a week cadence...
The solution•   Standardize part-time cofounder role    •   Time & experience for critical decisions•   Day a week cadence...
If you joined a hands-on model, whatinvolvement would you expect?                  Factor              Avg. Rank (out of 1...
Which factors are the most important when looking for a cofounder?                                    Overall     Very    ...
Long term vision
Long term vision•   Build network of top notch operators/investors
Long term vision•   Build network of top notch operators/investors•   Some full time, some part-time
Long term vision•   Build network of top notch operators/investors•   Some full time, some part-time•   Pool equity to giv...
Long term vision•   Build network of top notch operators/investors•   Some full time, some part-time•   Pool equity to giv...
Long term vision•   Build network of top notch operators/investors•   Some full time, some part-time•   Pool equity to giv...
Founders I’m looking for
Founders I’m looking for•   Awesome in all ways except experience/network
Founders I’m looking for•   Awesome in all ways except experience/network•   Evidence of excellence in your life
Founders I’m looking for•   Awesome in all ways except experience/network•   Evidence of excellence in your life•   Ambiti...
Founders I’m looking for•   Awesome in all ways except experience/network•   Evidence of excellence in your life•   Ambiti...
Founders I’m looking for•   Awesome in all ways except experience/network•   Evidence of excellence in your life•   Ambiti...
Founders I’m looking for•   Awesome in all ways except experience/network•   Evidence of excellence in your life•   Ambiti...
Founders I’m looking for•   Awesome in all ways except experience/network•   Evidence of excellence in your life•   Ambiti...
Founders I’m looking for•   Awesome in all ways except experience/network•   Evidence of excellence in your life•   Ambiti...
Thank youwww.cofounder.cofounders@cofounder.co
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#FounderHacks by Raj Kapoor - cofounder.co

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#FounderHacks by Raj Kapoor - cofounder.co

  1. 1. #FounderHacksRaj KapoorFounder & Managing Director, cofounder.coVenture Partner, Mayfield Fund Investing in Relationships
  2. 2. #TrendingTopics Lessons from Snapfish What Investors Look For Silicon Valley or Not? cofounder.co
  3. 3. The Snapfish story
  4. 4. Role models are critical
  5. 5. The Aha Moment Household Internet Connections (M) 20 15 10 Cable ADSL Total Broadband 5 0 1998 1999 2000 2001 2002
  6. 6. Build people networks
  7. 7. Know when to cut the cord;timing matters
  8. 8. Cofounders recommended–fill the gaps Product/Ops Leadership/Product BD/Schmoozing Tech w/ Business
  9. 9. Early it’s 100% funding,product & recruiting
  10. 10. Raise money wheneveryou can... ...either before launch or way after
  11. 11. The harsh reality of themarketplace 3200 2560 The Snapfish Solution: 1920 Free Processing Customers 1280 640 4/3/2000 4/30/2000 5/7/2000 5/21/2000 5/28/2000
  12. 12. The harsh reality of themarketplace 3200 2560 The Snapfish Solution: 1920 Free Processing Customers 1280 640 4/3/2000 4/30/2000 5/7/2000 5/21/2000 5/28/2000
  13. 13. Dealing with failure300 iVillage The Street.Com225 The Globe Marketwatch Priceline Etoys Drugstore150 Egghead Ashford75 0
  14. 14. Hunker down, pivot &hope to catch a wavePresent Future
  15. 15. When it’s working, step on it50,000,00037,500,00025,000,00012,500,000 0 00 01 01 02 03 04 04 2Q 1Q 4Q 3Q 2Q 1Q 4Q
  16. 16. Another tough butfortunate choice Investing in Relationships
  17. 17. Capitalize on luck & timing
  18. 18. Top 10 takeaways from Snapfish
  19. 19. Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it
  20. 20. Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut
  21. 21. Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Passion is infectious
  22. 22. Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Passion is infectious 4. Be crisp and confident
  23. 23. Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Passion is infectious 4. Be crisp and confident 5. Sell what THEY want, not what YOU want
  24. 24. Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Passion is infectious 4. Be crisp and confident 5. Sell what THEY want, not what YOU want 6. Hire people better than you
  25. 25. Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Passion is infectious 4. Be crisp and confident 5. Sell what THEY want, not what YOU want 6. Hire people better than you 7. You’re always raising money
  26. 26. Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Passion is infectious 4. Be crisp and confident 5. Sell what THEY want, not what YOU want 6. Hire people better than you 7. You’re always raising money 8. Hypothesize, get to market quickly, iterate often
  27. 27. Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Passion is infectious 4. Be crisp and confident 5. Sell what THEY want, not what YOU want 6. Hire people better than you 7. You’re always raising money 8. Hypothesize, get to market quickly, iterate often 9. Plan, but be open to change
  28. 28. Top 10 takeaways from Snapfish 1. Don’t wait for inspiration – grab it 2. Data only goes so far; invest in your gut 3. Passion is infectious 4. Be crisp and confident 5. Sell what THEY want, not what YOU want 6. Hire people better than you 7. You’re always raising money 8. Hypothesize, get to market quickly, iterate often 9. Plan, but be open to change 10. Balance IS possible (well, sometimes)
  29. 29. What investors are looking for
  30. 30. Tectonic shifts createopportunity Mobile Video Social UGC Search
  31. 31. Other big trendsConnected TVs Professionals Platforms Services Marketplace(Similar to mobile with the iPhone) (Individuals become the brand)Ecommerce is New Relationship Education Disruptedmainstream in BRIC Graphs
  32. 32. Two Consumer Founder TypesDisruptive New Media Destinations• Youthful founders • Experienced founders• Product driven • Execution-driven• Network effects • Marketplace model• Viral loops • Organic traffic• Broad based adoption –  advantage 100M+ user scale • Highly monetizable• Momentum vs black swan vertical
  33. 33. B2B/Infrastructure criteria
  34. 34. B2B/Infrastructure criteria• Experienced internet-focused team
  35. 35. B2B/Infrastructure criteria• Experienced internet-focused team• Pain killer vs vitamin
  36. 36. B2B/Infrastructure criteria• Experienced internet-focused team• Pain killer vs vitamin• Frictionless deployment
  37. 37. B2B/Infrastructure criteria• Experienced internet-focused team• Pain killer vs vitamin• Frictionless deployment• Grass roots sales model
  38. 38. B2B/Infrastructure criteria• Experienced internet-focused team• Pain killer vs vitamin• Frictionless deployment• Grass roots sales model • Open source, social media, sell to employees
  39. 39. B2B/Infrastructure criteria• Experienced internet-focused team• Pain killer vs vitamin• Frictionless deployment• Grass roots sales model • Open source, social media, sell to employees • Avoid the CIO
  40. 40. B2B/Infrastructure criteria• Experienced internet-focused team• Pain killer vs vitamin• Frictionless deployment• Grass roots sales model • Open source, social media, sell to employees • Avoid the CIO• Provides immediate benefit or cost reduction
  41. 41. B2B/Infrastructure criteria• Experienced internet-focused team• Pain killer vs vitamin• Frictionless deployment• Grass roots sales model • Open source, social media, sell to employees • Avoid the CIO• Provides immediate benefit or cost reduction• Leverages new features of internet
  42. 42. B2B/Infrastructure criteria• Experienced internet-focused team• Pain killer vs vitamin• Frictionless deployment• Grass roots sales model • Open source, social media, sell to employees • Avoid the CIO• Provides immediate benefit or cost reduction• Leverages new features of internet • Data targeting, social, video, RTB, mobile
  43. 43. B2B/Infrastructure criteria• Experienced internet-focused team• Pain killer vs vitamin• Frictionless deployment• Grass roots sales model • Open source, social media, sell to employees • Avoid the CIO• Provides immediate benefit or cost reduction• Leverages new features of internet • Data targeting, social, video, RTB, mobile• Future platform opportunity vs “Feature”
  44. 44. B2B/Infrastructure criteria• Experienced internet-focused team• Pain killer vs vitamin• Frictionless deployment• Grass roots sales model • Open source, social media, sell to employees • Avoid the CIO• Provides immediate benefit or cost reduction• Leverages new features of internet • Data targeting, social, video, RTB, mobile• Future platform opportunity vs “Feature”• Recurring revenue business
  45. 45. Looking for great founders
  46. 46. Looking for great founders• They know or know of them WELL via network
  47. 47. Looking for great founders• They know or know of them WELL via network• Product/user obsession
  48. 48. Looking for great founders• They know or know of them WELL via network• Product/user obsession• Founders who can code and move quickly
  49. 49. Looking for great founders• They know or know of them WELL via network• Product/user obsession• Founders who can code and move quickly• Deep understanding of business, metrics and product
  50. 50. Looking for great founders• They know or know of them WELL via network• Product/user obsession• Founders who can code and move quickly• Deep understanding of business, metrics and product• Big vision AND solid execution
  51. 51. Looking for great founders• They know or know of them WELL via network• Product/user obsession• Founders who can code and move quickly• Deep understanding of business, metrics and product• Big vision AND solid execution• Well connected
  52. 52. Looking for great founders• They know or know of them WELL via network• Product/user obsession• Founders who can code and move quickly• Deep understanding of business, metrics and product• Big vision AND solid execution• Well connected• Know what an A+ player looks like
  53. 53. Looking for great founders• They know or know of them WELL via network• Product/user obsession• Founders who can code and move quickly• Deep understanding of business, metrics and product• Big vision AND solid execution• Well connected• Know what an A+ player looks like• Don’t need a perfect CEO, but need to be “self aware”
  54. 54. General tips pitching VCs
  55. 55. General tips pitching VCs✓ Know your TAM – bottoms up
  56. 56. General tips pitching VCs✓ Know your TAM – bottoms up ✓ Is $100M revenue realistic?
  57. 57. General tips pitching VCs✓ Know your TAM – bottoms up ✓ Is $100M revenue realistic? ✓ Is VC or angel funding better?
  58. 58. General tips pitching VCs✓ Know your TAM – bottoms up ✓ Is $100M revenue realistic? ✓ Is VC or angel funding better?✓ Proof team is business & product savvy
  59. 59. General tips pitching VCs✓ Know your TAM – bottoms up ✓ Is $100M revenue realistic? ✓ Is VC or angel funding better?✓ Proof team is business & product savvy✓ Is there a true competitive advantage vs execution?
  60. 60. General tips pitching VCs✓ Know your TAM – bottoms up ✓ Is $100M revenue realistic? ✓ Is VC or angel funding better?✓ Proof team is business & product savvy✓ Is there a true competitive advantage vs execution? ✓ Show network effect or why model is disruptive vs incremental to incumbents
  61. 61. General tips pitching VCs✓ Know your TAM – bottoms up ✓ Is $100M revenue realistic? ✓ Is VC or angel funding better?✓ Proof team is business & product savvy✓ Is there a true competitive advantage vs execution? ✓ Show network effect or why model is disruptive vs incremental to incumbents✓ Map out serial risk reduction
  62. 62. General tips pitching VCs✓ Know your TAM – bottoms up ✓ Is $100M revenue realistic? ✓ Is VC or angel funding better?✓ Proof team is business & product savvy✓ Is there a true competitive advantage vs execution? ✓ Show network effect or why model is disruptive vs incremental to incumbents✓ Map out serial risk reduction✓ Raise at least 18 months of capital if it’s early stage
  63. 63. General tips pitching VCs✓ Know your TAM – bottoms up ✓ Is $100M revenue realistic? ✓ Is VC or angel funding better?✓ Proof team is business & product savvy✓ Is there a true competitive advantage vs execution? ✓ Show network effect or why model is disruptive vs incremental to incumbents✓ Map out serial risk reduction✓ Raise at least 18 months of capital if it’s early stage✓ Control the process and timing
  64. 64. General tips pitching VCs✓ Know your TAM – bottoms up ✓ Is $100M revenue realistic? ✓ Is VC or angel funding better?✓ Proof team is business & product savvy✓ Is there a true competitive advantage vs execution? ✓ Show network effect or why model is disruptive vs incremental to incumbents✓ Map out serial risk reduction✓ Raise at least 18 months of capital if it’s early stage✓ Control the process and timing ✓ Create relationships with VCs well in advance of fundraise
  65. 65. General tips pitching VCs✓ Know your TAM – bottoms up ✓ Is $100M revenue realistic? ✓ Is VC or angel funding better?✓ Proof team is business & product savvy✓ Is there a true competitive advantage vs execution? ✓ Show network effect or why model is disruptive vs incremental to incumbents✓ Map out serial risk reduction✓ Raise at least 18 months of capital if it’s early stage✓ Control the process and timing ✓ Create relationships with VCs well in advance of fundraise ✓ Try to get everyone on the same timetable
  66. 66. Silicon Valley..... or not?
  67. 67. 46% of VC dollars in Q2 went to Silicon Valley (Only 12% went to the second place)
  68. 68. 75%75% of ALL venture returns are in Silicon Valley
  69. 69. The good
  70. 70. The good • Change the world vs make a buck
  71. 71. The good • Change the world vs make a buck • Pay it forward vs look out for yourself
  72. 72. The good • Change the world vs make a buck • Pay it forward vs look out for yourself • Massive information advantage
  73. 73. The good • Change the world vs make a buck • Pay it forward vs look out for yourself • Massive information advantage • People-driven transactions
  74. 74. The good • Change the world vs make a buck • Pay it forward vs look out for yourself • Massive information advantage • People-driven transactions • Talent has DNA to go big and scale
  75. 75. The good • Change the world vs make a buck • Pay it forward vs look out for yourself • Massive information advantage • People-driven transactions • Talent has DNA to go big and scale • Competition to push you hardest
  76. 76. The good • Change the world vs make a buck • Pay it forward vs look out for yourself • Massive information advantage • People-driven transactions • Talent has DNA to go big and scale • Competition to push you hardest • Product rules
  77. 77. The good • Change the world vs make a buck • Pay it forward vs look out for yourself • Massive information advantage • People-driven transactions • Talent has DNA to go big and scale • Competition to push you hardest • Product rules • Not just a location; it’s a mindset
  78. 78. The ugly
  79. 79. The ugly• Cost of living
  80. 80. The ugly• Cost of living• Talent war
  81. 81. The ugly• Cost of living• Talent war• Relationship driven*
  82. 82. The ugly• Cost of living• Talent war• Relationship driven* • *unless you have amazing momentum
  83. 83. The ugly• Cost of living• Talent war• Relationship driven* • *unless you have amazing momentum• Weather...... NOT!
  84. 84. The bottom line
  85. 85. The bottom line• Silicon Valley if:
  86. 86. The bottom line• Silicon Valley if: • You are thinking BIG
  87. 87. The bottom line• Silicon Valley if: • You are thinking BIG • You like swimming with SHARKS
  88. 88. The bottom line• Silicon Valley if: • You are thinking BIG • You like swimming with SHARKS • Product/service EXCELLENCE matters
  89. 89. The bottom line• Silicon Valley if: • You are thinking BIG • You like swimming with SHARKS • Product/service EXCELLENCE matters • You have the RELATIONSHIPS or momentum
  90. 90. The bottom line• Silicon Valley if: • You are thinking BIG • You like swimming with SHARKS • Product/service EXCELLENCE matters • You have the RELATIONSHIPS or momentum • You like GOOD weather and wine
  91. 91. What is Cofounder.co?
  92. 92. What’s missing?
  93. 93. What’s missing?• Entrepreneurs looking for help, not just money
  94. 94. What’s missing?• Entrepreneurs looking for help, not just money • Accelerators, incubators, angels, mentors/advisors, VCs
  95. 95. What’s missing?• Entrepreneurs looking for help, not just money • Accelerators, incubators, angels, mentors/advisors, VCs • 95% of entrepreneurs want a cofounder
  96. 96. What’s missing?• Entrepreneurs looking for help, not just money • Accelerators, incubators, angels, mentors/advisors, VCs • 95% of entrepreneurs want a cofounder• Time is more precious than capital for the best
  97. 97. What’s missing?• Entrepreneurs looking for help, not just money • Accelerators, incubators, angels, mentors/advisors, VCs • 95% of entrepreneurs want a cofounder• Time is more precious than capital for the best• Where do they get time, experience and deep help?
  98. 98. What’s missing?• Entrepreneurs looking for help, not just money • Accelerators, incubators, angels, mentors/advisors, VCs • 95% of entrepreneurs want a cofounder• Time is more precious than capital for the best• Where do they get time, experience and deep help? • 100+ key decisions every year
  99. 99. What’s missing?• Entrepreneurs looking for help, not just money • Accelerators, incubators, angels, mentors/advisors, VCs • 95% of entrepreneurs want a cofounder• Time is more precious than capital for the best• Where do they get time, experience and deep help? • 100+ key decisions every year • Provide help longer than 3 months
  100. 100. What’s missing?• Entrepreneurs looking for help, not just money • Accelerators, incubators, angels, mentors/advisors, VCs • 95% of entrepreneurs want a cofounder• Time is more precious than capital for the best• Where do they get time, experience and deep help? • 100+ key decisions every year • Provide help longer than 3 months • Expertise to avoid mistakes
  101. 101. What’s missing?• Entrepreneurs looking for help, not just money • Accelerators, incubators, angels, mentors/advisors, VCs • 95% of entrepreneurs want a cofounder• Time is more precious than capital for the best• Where do they get time, experience and deep help? • 100+ key decisions every year • Provide help longer than 3 months • Expertise to avoid mistakes The time is right for a new model...
  102. 102. The solution
  103. 103. The solution• Standardize part-time cofounder role
  104. 104. The solution• Standardize part-time cofounder role • Time & experience for critical decisions
  105. 105. The solution• Standardize part-time cofounder role • Time & experience for critical decisions• Day a week cadence – 4-5 companies max
  106. 106. The solution• Standardize part-time cofounder role • Time & experience for critical decisions• Day a week cadence – 4-5 companies max• Experienced founder/CEO/investors only
  107. 107. The solution• Standardize part-time cofounder role • Time & experience for critical decisions• Day a week cadence – 4-5 companies max• Experienced founder/CEO/investors only• Deep relationships
  108. 108. The solution• Standardize part-time cofounder role • Time & experience for critical decisions• Day a week cadence – 4-5 companies max• Experienced founder/CEO/investors only• Deep relationships • Capital, talent, partnerships & exits
  109. 109. The solution• Standardize part-time cofounder role • Time & experience for critical decisions• Day a week cadence – 4-5 companies max• Experienced founder/CEO/investors only• Deep relationships • Capital, talent, partnerships & exits • Curated service provider to help right away
  110. 110. The solution• Standardize part-time cofounder role • Time & experience for critical decisions• Day a week cadence – 4-5 companies max• Experienced founder/CEO/investors only• Deep relationships • Capital, talent, partnerships & exits • Curated service provider to help right away• Alignment as cofounder vs investor
  111. 111. The solution• Standardize part-time cofounder role • Time & experience for critical decisions• Day a week cadence – 4-5 companies max• Experienced founder/CEO/investors only• Deep relationships • Capital, talent, partnerships & exits • Curated service provider to help right away• Alignment as cofounder vs investor• Minority vesting equity – skin in the game
  112. 112. The solution• Standardize part-time cofounder role • Time & experience for critical decisions• Day a week cadence – 4-5 companies max• Experienced founder/CEO/investors only• Deep relationships • Capital, talent, partnerships & exits • Curated service provider to help right away• Alignment as cofounder vs investor• Minority vesting equity – skin in the game• Join at point of cofounder decision
  113. 113. If you joined a hands-on model, whatinvolvement would you expect? Factor Avg. Rank (out of 12) Top 3 Ranking Finding talent 3.90 52% Getting to product/market fit 4.38 45% Product and Business Strategy 4.50 45% Financing 5.48 25% User Acquisition and marketing 5.57 12% Introductions and network building 6.21 10% Sales and business development 6.62 32% CEO/mgmt team mentorship 6.98 24% Hiring process 7.29 10% Prioritizing objectives 7.95 3% Being an active board member 9.36 32% Helping make an Exit Happen 9.76 10%
  114. 114. Which factors are the most important when looking for a cofounder? Overall Very Important Somewhat Not Factor Rating Important Important Important (4) (3) (2) (1)Commitment to startup 3.90 93% 5% 2% 0%Complimentary skill set 3.78 83% 12% 5% 0%Align with my vision 3.59 64% 32% 5% 0%They think strategically 3.25 37% 50% 13% 0%The network they bring 3.12 31% 50% 19% 0%Technical abilities 3.05 29% 50% 19% 2%Amount of relevant experience 2.98 25% 47% 28% 10%Their credibility/reputation 2.71 22% 29% 46% 3%Willing to invest their own money 2.48 17% 29% 41% 14%I am or can be friends with them 2.46 12% 34% 41% 12%Worked together in the past 2.41 19% 27% 29% 24%
  115. 115. Long term vision
  116. 116. Long term vision• Build network of top notch operators/investors
  117. 117. Long term vision• Build network of top notch operators/investors• Some full time, some part-time
  118. 118. Long term vision• Build network of top notch operators/investors• Some full time, some part-time• Pool equity to give fund economics
  119. 119. Long term vision• Build network of top notch operators/investors• Some full time, some part-time• Pool equity to give fund economics• Take it global
  120. 120. Long term vision• Build network of top notch operators/investors• Some full time, some part-time• Pool equity to give fund economics• Take it global Embed an unfair advantage alongside the best entrepreneurs
  121. 121. Founders I’m looking for
  122. 122. Founders I’m looking for• Awesome in all ways except experience/network
  123. 123. Founders I’m looking for• Awesome in all ways except experience/network• Evidence of excellence in your life
  124. 124. Founders I’m looking for• Awesome in all ways except experience/network• Evidence of excellence in your life• Ambition to create a massive disruptive company
  125. 125. Founders I’m looking for• Awesome in all ways except experience/network• Evidence of excellence in your life• Ambition to create a massive disruptive company• Strong desire to be CEO but self-aware
  126. 126. Founders I’m looking for• Awesome in all ways except experience/network• Evidence of excellence in your life• Ambition to create a massive disruptive company• Strong desire to be CEO but self-aware• Product obsessed builders fit best
  127. 127. Founders I’m looking for• Awesome in all ways except experience/network• Evidence of excellence in your life• Ambition to create a massive disruptive company• Strong desire to be CEO but self-aware• Product obsessed builders fit best• Passion for a sector, not wed to a solution
  128. 128. Founders I’m looking for• Awesome in all ways except experience/network• Evidence of excellence in your life• Ambition to create a massive disruptive company• Strong desire to be CEO but self-aware• Product obsessed builders fit best• Passion for a sector, not wed to a solution• Started anywhere but move to build company in SV
  129. 129. Founders I’m looking for• Awesome in all ways except experience/network• Evidence of excellence in your life• Ambition to create a massive disruptive company• Strong desire to be CEO but self-aware• Product obsessed builders fit best• Passion for a sector, not wed to a solution• Started anywhere but move to build company in SV• Open to spending quality time together first
  130. 130. Thank youwww.cofounder.cofounders@cofounder.co

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