Startup Camp Montreal - Keynote

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Startup Camp Montreal - Keynote

  1. 1. Michael Montano FOUNDER, BACKTYPE
  2. 2. IDEAS The value of an idea is approximately equal to the time it takes to come up with another one
  3. 3. Entrepreneurs spend too much “ time worrying about protecting their ideas and not enough time launching them!” —Mike Speiser, Sutter Hill Ventures
  4. 4. PRODUCTS Most startups fail because they don’t build something people want
  5. 5. The minimum viable product is “ the product that only has core, tent-pole features so you can ship a product that resonates with early adopters; some of whom will pay you money or give you feedback.” —Eric Ries, IMVU
  6. 6. ITERATION Successful companies iterate in response to reality
  7. 7. runway # iterations = speed of iterations cash runway = burn rate
  8. 8. FAILURE An entrepreneur’s education comes from failure
  9. 9. “As an entrepreneur, you have to get used to failure. It's just a part of the path to success.” —Mark Pincus, Zynga
  10. 10. VALUE Create more value than you capture
  11. 11. Our mission is to organize the “ world’s information and make it universally accessible and useful.” —Google
  12. 12. TRACTION Fear not getting traction
  13. 13. “The biggest problem facing any website is distribution.” —Reid Homan, LinkedIn
  14. 14. RISK Tolerance for risk is a massive advantage startups have over incumbents
  15. 15. When PayPal first launched, it “ was pretty clear that their product violated the operating rules for Visa, Mastercard and American Express — and violated banking regulations is more than 40 dierent states.”
  16. 16. MONEY Raising money is like finding a black swan
  17. 17. http://www.venturehacks.com/
  18. 18. ENTREPRENEURSHIP Be realistic about what you want
  19. 19. THANKS E mm@backtype.com T @michaelmontano

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