This document provides advice and encouragement for becoming an entrepreneur. It discusses how barriers to entry are lower now to launch and run a business both online and offline. A story is shared about a friend named Anne who started a vintage business with an initial investment of €10,000 and is now earning a net profit that will allow her to pay herself. Another friend is mentioned who started in vintage as well, growing her business from $6 million in revenues to $120 million in just two years. The key lessons are to start somewhere, make it work, then accelerate, and remember that entrepreneurship success is about spirit more than anything else.

1. Living with
entrepreneurs

2. My journey so far

3. A few words about Index
+ 150 other investments

4. What do I do at Index?

5. What should YOU do?
My 2 cents…
1. BE AN ENTREPRENEUR
2. DO IT YOUR WAY

6. Entrepreneurship is the new black

7. It has never been easier and cheaper to launch
and run a business (online AND offline)
BUILD SELL RUN FUND

8. But barriers to entry are also
lower
So you need to be smarter

9. And do things your own way

10. Meet my friend Anne
(aka “Bouchon”)

11. 1 year ago Today
Her desk (under the chair)

13. Can she survive???
Let’s do the maths
• Started in June 2012
• Initial capital: €15,000
• Initial investment: €10,000
€ July August September October
Revenues 500 0 (holiday) 1000 2000
COGS (100) 0 (200) (400)
G&A (300) (100) (300) (300)
Net profit 100 (100) 500 1300
She’ll soon be able to pay herself!

14. Meet another friend

15. She started with vintage too

16. When I first talked to her 2 years ago
they were making
$6m in revenues
This year, they’ll be making
$120m

17. Selling shoes like these

18. Do you want to be the next Sophia?
1. Begin somewhere
Anne is about there
1. Make it work
2. Accelerate
3. Call me when you are ready!

19. And remember, it’s all about the spirit

20. Thanks
martin@indexventures.com
@martinmignot
Unvalidatedlearnings.com