Romania 5


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Mark Randall (Adobe) - Three Clever Tricks to Triple Your Startup's Chance of Success

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Romania 5

  1. 1. Audio and Video Check Screen Enter PowerPoint's “Presenter” mode and click below to play the video Check that the video is visible on the external projector then advance to the next screen.
  2. 12. “ What is an entrepreneur?
  3. 13. Fantasy
  4. 14. Reality
  5. 15. “ Why be an entrepreneur?
  6. 16. “ Be my own boss, set my own hours” “ Run the whole show” “ Stop working so hard” “ Get RICH!!!” “ I want people to like me”
  7. 17. Is it really the money?
  8. 18. You can do all the work and succeed wildly but still not get the prize.
  9. 19. So, if it’s not the money, why be an entrepreneur?
  10. 20. Entrepreneurship is the engine that drives the world.
  11. 21. You hold the power to shape your destiny.
  12. 22. Unconquerable
  13. 23. INVICTUS An Ode to the Spirit of Entrepreneurs
  14. 25. Wow… That’s powerful. Let’s do it!
  15. 26. HOLD ON…
  16. 27. BAD NEWS
  17. 29. Most Startups Fail
  18. 30. Cratering Sucks
  19. 31. Painful Embarrassing Expensive Excruciating Endless Nightmare of Lingering DEATH
  20. 32. So let’s avoid that :-)
  21. 33. How?
  22. 34. It begins with a better definition of the term “Startup”
  23. 35. A flexible organization designed to deliver a new product or service under conditions of extreme uncertainty . Source: Eric Ries
  24. 36. Startup = Experiment Source: Eric Ries
  25. 37. GOOD NEWS Right now is the best time EVER in the history of the world to be an entrepreneur.
  26. 38. <ul><li>The entire world is smaller and faster, disruption and chaos are everywhere. </li></ul><ul><li>Today it costs dramatically less to do a startup than five, ten or twenty years ago </li></ul><ul><li>Information is readily available </li></ul><ul><li>Old-school venture capital is shrinking </li></ul><ul><li>Angels, Super-Angels, Series A VCs, Incubators (YCombinator, TechStars, Bootup Labs etc.) </li></ul><ul><li>Smaller rounds, executed much faster </li></ul><ul><li>Smaller, faster exits that are more profitable </li></ul><ul><li>Powerful new techniques to optimize success </li></ul>
  27. 39. Steve Blank Eric Ries Sean Ellis Dave McClure Ash Maurya
  28. 40. SAD FACT Most startups fail from a lack of CUSTOMERS not a lack of PRODUCT Source: Steve Blank
  29. 41. Source: Geoffrey Moore Crossing the Chasm
  30. 42. The Old, Wrong Way Source: Steve Blank Biz Plan & Raise Capital Develop Product Beta Test Ship Product
  31. 43. The New, Better Way Source: Steve Blank Customer Discovery Customer Validation Customer Creation Company Building
  32. 44. The New, Better Way Customer Discovery Customer Validation Customer Creation Company Building STOP STOP STOP
  33. 45. Search for a business Growth of a business Iteration Execution Source: Steve Blank Customer Discovery Customer Validation Customer Creation Company Building
  34. 46. The Pivot Embrace Change
  35. 47. Q: How do I decide what my startup should be about?
  36. 48. A: Follow your passion What the hell does that mean?
  37. 50. 3 wrong ideas that screw up many smart entrepreneurs
  38. 51. <ul><li>Keep your idea secret </li></ul><ul><li>Pour your passion and soul into it </li></ul><ul><li>Design a business that a big company will want to acquire </li></ul>
  39. 52. Questions? [email_address]
  40. 53. Watch Out for the Decisions That Bite <ul><li>Is it a Plus or an X? </li></ul><ul><li>Decision A: What to name the company. </li></ul><ul><li>Decision B: Which state to incorporate in. </li></ul><ul><li>Decision N: Which market to target. </li></ul>A + B A + B x N 1 + 1 + 2 + 1 + 4 + 2 x 0 = Zero!