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Building upon an idea How to

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Presentation used at Tedx Bucharest and for the closing Keynote of IE MBA venturelabs in 2011, adaptation of an older presentation I did in 2009

Published in: Business, Economy & Finance
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Building upon an idea How to

  1. 1. Building upon an idea! alexis@erepubliklabs.com Twitter: @alexisbonte
  2. 2. My idea today • One of you to turn an idea into a transformative business • Useful roadmap for building a business out of an idea
  3. 3. One learning: Team
  4. 4. “FAILURE ALWAYS PRECEDES SUCCESS”
  5. 5. TradeOK 200k $ 1.1B $ 10 M $ 2 M $ 50k $ >
  6. 6. eRepublik Labs: Crafting Game Worlds • I like games & business • Boxed games model sucks & huge market, moving online • I’m inexperienced enough to think I can do it better • Found somebody who believed me & could help
  7. 7. 50 employees, 5 million registered players and…
  8. 8. The idea • Anyone can have an idea • Being the first Helps (not always) • But execution is everything • Regrets = the sum of the risks you did not take • Skill, Focus, Equity (Sweat / Cash) & Luck
  9. 9. What problem do you solve? • Best ideas: simple solution to large problem • Often initial idea won’t be the right one • A good team can turn that around / evolve • Right idea + Bad team = Fail
  10. 10. The Team • Co-founders key • Start with sweat equity • Inexperienced = advantage? • You want smart doers • Not to serious  • No i in Team • CEO must drive the vision • You will fight & split
  11. 11. Private Launch, Friends & Family $ • Only F&F fund @idea stage unless: • Launch something quickly (make it exclusive) • Get feedback, iterate, improve, validate • No $ on marketing (thank you social tools) • Learn! Change the idea / product if needed
  12. 12. Public Launch / Angel $ • Research online Angel list etc. • Compete: LeWeb, TC 50, Seedcamp etc. • Get $ from angels or sales • Timing for Launch : Depends • Promote like mad, kickstarter? • Look bigger than you are • Be cheap & hire slowly fire quickly
  13. 13. Things WILL go WRONG DO NOT GIVE UP
  14. 14. Growth / VC $ / Profits • VC $: for successful companies to grow faster • Forget it if not the above or one of these: • To little or to much can kill you / ego trap • VC priority: 1> growth 2 > profits Yours: depends • Harder choices, costlier mistakes, FOCUS
  15. 15. Want to make your idea big? DON’T RUN OUT OF MONEY
  16. 16. YOU WILL EVENTUALLY LAND ON YOUR FEET Contact Alexis Bonte Chairman Trilulilu, Zonga ceo and co-founder eRepublik Labs alexis@erepublik.com Twitter.com/alexisbonte We are hiring www.erepubliklabs.com hr@erepubliklabs.com
  17. 17. What we are doing next: Sign up at TacticalHeroes.com for early access
  18. 18. Thank you

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