Best Strategy Is Speed (Startup2Startup May 2008)

Speed As THE Primary Business Strategy Mike Cassidy

Speed Brings Great Advantages ,[object Object],[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary

Typical Start-up Timeline? June 3, 2009 Confidential and Proprietary Explore ideas 3 months? Raise money 3 months? Hire core team & open office 2-3 months? Build product 12 months? Initial marketing / awareness-building / early customers 3-6 months? “ Launched” = 23-27 months?

Lightning Speed Start-up Timeline June 3, 2009 Confidential and Proprietary Explore ideas 2 wks Raise money 1 day Hire core team & open office 2 wks Build product 3 months “ Launched” = 4 months

Example 1: Stylus Innovation ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary Sold 2 years after launch for $13M (10,000x founders investment)

Example 2: Direct Hit ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary Sold 500 days after launch for $500 million

Example 3: Xfire ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary Sold just over 2 years after launch for $110 million

Speeding Up All Parts of Startup ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary

[object Object],June 3, 2009 Confidential and Proprietary

Speed and Capital ,[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary Biz school: Single, consistent strategy; not “ lowest cost and best customer service,” etc.

Raising VC Money Quickly ,[object Object],June 3, 2009 Confidential and Proprietary

Four Keys to Raising VC Money Quickly ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary

Every Day, Every Hour, Every Minute Counts June 3, 2009 Confidential and Proprietary 4/21 8:15am pitch DFJ; 4:30pm get term sheet; dev team gives notice at current jobs 4/22 Fly back to Boston 4/23 Negotiate lease on office space; order Dell computers 4/24 Order network software, phone system, office alarm system, DSL, office LAN/phone wiring 4/27 Incorporate, set up bank account, Paychex, desks/chairs 4/28 Source control software, property insurance 4/29 Hardware arrives, set it up 4/30 Set up LAN, phones, desks 5/4 Open office, first day team has been hired, have C++, email, PC, LAN, payroll, etc. (13 days after term sheet received)

Think Speed in Everything You Do ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary

Speed Starts the First Day a New Hire Arrives ,[object Object],June 3, 2009 Confidential and Proprietary

Speed Starts the First Day a New Hire Arrives ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary Set tone for speed

Which Is Faster? ,[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary

Journey of a Thousand Miles Begins with a Single Step ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary

Biz Dev Deals – Fast or Never ,[object Object],[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary

Fastest Way To Get the Word Out? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary

If Something Is Broken, Fix It - Immediately ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],June 3, 2009 Confidential and Proprietary

Best Strategy Is Speed (Startup2Startup May 2008)

Best Strategy Is Speed (Startup2Startup May 2008)

Recommended

More Related Content

What's hot

What's hot(20)

Similar to Best Strategy Is Speed (Startup2Startup May 2008)

Similar to Best Strategy Is Speed (Startup2Startup May 2008)(20)

More from Dave McClure

More from Dave McClure(20)

Recently uploaded

Recently uploaded(20)

Best Strategy Is Speed (Startup2Startup May 2008)