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Startup tips for entrepreneurs part i

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Startup tips for entrepreneurs part i

  1. 1. STARTUP TIPS FORENTREPRENEURPART ITRUNG NGUYEN @SIBERIAVN• P ROD UCT M AN AGE R OF P ROJECT LAN A• FORM E R SE N IOR IN V EST M E N T AN ALYST OF ID G V E N T URES V IE T N AM• CO- FOUN D E R OF LAUN CH – V IE T N AM IN T E RN E T START - UP COM M UN IT Y
  2. 2. “Entrepreneurship Is About Those Who Dare To Dream The Dreams And AreHungry And Foolish Enough To Try And Make Their Dreams Come True”
  3. 3. BEING AN ENTREPRENEUR IS BEING EXTREME…ARE YOU SURE ?
  4. 4. [1] START BY A DESIRE TOSOLVE A PROBLEM
  5. 5. IT’S A MUST OR A NICE?
  6. 6. WHO GONNA NEED IT? HOW BIG IS THAT?
  7. 7. How Well Can You Solve? Aspirin Vitamin Candy
  8. 8. HOW YOU MAKE MONEY ?
  9. 9. FREEMIUM VS. PREMIUMWhat motivateCustomer to Pay You? Can You Monetize?
  10. 10. AFRAID OF LOSING YOUR MEAL?
  11. 11. FIND SUSTAINABLE COMPETITIVE ADVANTAGE
  12. 12. BEING THE FIRST MOVER, AGILE, AND FAST ARE NECESSARY TOSURVIVE, BUT…. Not sufficient to succeed!
  13. 13. PEOPLE CAN COPY EVERYTHING FROM YOU EXCEPT …
  14. 14. [2] JUST GREAT IDEAS?
  15. 15. IDEAS ARE …A dime a dozen!
  16. 16. NO ONE CAN MAKE THE NEXT ZAPPOSBY JUST READING A BOOK !
  17. 17. [3] EXECUTION IS EVERYTHING
  18. 18. IDEA IS JUST A MULTIPLIER No Execution = $1Awful Idea = -1 Weak Execution = $1000 XWeak Idea = 1So-so Idea = 5 So-so Execution = $10,000Good Idea = 10 Good Execution = $100,000Great Idea = 15Brilliant Idea = 20 Great Execution = $1m Brilliant Execution = $10m Execution is everything!
  19. 19. FOCUS - SUPER FOCUSSolve One Problem And solve it Really Really Well
  20. 20. [4] A DREAM TEAM
  21. 21. A+ PLAYERS IS NOT ENOUGH
  22. 22. A+ TEAM IS THE MOST IMPORTANT! Why Is Your Team the Best to Execute This Idea?
  23. 23. BUT DON’T JUST DREAM
  24. 24. [F]INALLY
  25. 25. FIND THINGS YOU DON’T KNOW“Where most entrepreneurs fail is on the things they don’t know they don’t know.”– VinodKhosla
  26. 26. JUST REMEMBER1. Find Product – Market Fit2. Gather A Players3. Build A+ Team4. Focus to solve problems really really well5. Your barrier-to-entry are your customers
  27. 27. “STAY HUNGRY, STAY FOOLISH!” - STEVE JOBS Life is 20% What Happens to You and 80% How You Deal With It
  28. 28. MORE ABOUT THISAuthor• James Vuong• VP, Investment & Technology - IDG Ventures, VietnamSpeaker• Facebook.com/siberiavn• siberia.posterous.com• @siberiavn

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