This presentation is about helping you structure how you build out and plan your company's milestones. The full blog post can be found here - http://thedrawingboard.me/2012/10/12/setting-appropriate-milestones-in-an-early-stage-startup/

1. A Milestone Driven Approach
Carlos Eduardo Espinal @cee

2. Building a Startup
IS HARD!

3. • What should I focus on next?
• What do I need to accomplish before anyone is impressed?
• How do I know when I’m ready to go fundraising?
• How do I know how much money I should raise?

4. There are many ways to slice a watermelon
this is just one that I find works well

5. As with all large problems
Make them solvable simple problems
What should I Focus on next?

6. Break it UP Into Parts
• Identify your next major steps
• Set them on a timeline
• Map cash use to this timeline
• ANALYTICS!!!!
• Plan around success and not mitigating
failure

7. What DO I need to Accomplish BEfore
Anyone is Impressed?
Month 3: Minimum Viable Product
Month 5: Private Beta Launch
Month 8: Key Hire
Month 11: Public Beta Launch
Month 12: x% daily growth rate in
subscribers
Time

8. What DO I need to Accomplish BEfore
Anyone is Impressed?
Month 3, 2 Founders, MVP = 20K (3 per m / per p)
Month 5, +1 Employee, Private Beta = 30K + (20K)
(5pm / pp)
Month 8: Key Hire = 300K
Month 11: Public Beta Launch = 400K
Month 12: x% daily growth rate in subscribers = 500K
Time

9. How do I KNOW WHEN I’m Ready to go
Fundraising?
• You have identified material milestones that matter!
• You have enough time to go fundraise
• You can articulate what you will do with the cash:
• what your cash burn is & will be
• what you will have to show as your approach your next next round

10. How much Money Should I Raise
• As much as you can!
• Typically at least 8 months of run-way, ideally 12-18 months
• Typically to validate the next major milestone in your business + 3-6 months for
fundraising (depends on the amount being raised)
• DON’T GET CAUGHT IN THEVALLEY OF DEATH!!!

12. Thank you
@cee