9 Common Startup Mistakes + Things to Know About Venture Capital for First-Time Entrepreneurs (Startup Weekend)
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9 Common Startup Mistakes + Things to Know About Venture Capital for First-Time Entrepreneurs. Presented at Startup Weekend - University of Michigan (Ann Arbor).
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9 Common Startup Mistakes + Things to Know About Venture Capital for First-Time Entrepreneurs (Startup Weekend)
- 1. 9 Common Startup Mistakes + Things to Know About Venture Capital MICHAEL GAISS Senior Vice President, Highland Capital Partners [email_address] | @michaelgaiss Startup Weekend University of Michigan January 23, 2011
- 3. We back entrepreneurs with big ambitions.
- 4. We back young entrepreneurs.
- 5. We back young entrepreneurs.
- 6. We back young entrepreneurs.
- 7. We back young entrepreneurs.
- 8. We back young entrepreneurs.
- 9. We love early stage.
- 12. Joshua Feast MIT Sloan School of Management Alain Chuard Stanford Graduate School of Business Motomu Shimaoka & Ann DeWitt Harvard Medical School & HBS Mike Sullivan Harvard University Matt Lauzon Babson College Victoria Ransom Harvard Business School Jeff LeBrun & John Rice University of Michigan Ross School of Business Will O’Brien MIT Sloan School of Management
- 13. If you’re not starting a company, join one of ours. www.hcp.com/careers
- 14. 9 Mistakes Entrepreneurs Often Make on their First Startup Less of this More of this
- 15. #1: Didn’t research & understand the competition.
- 16. #2: Haven’t talked to customers.
- 17. #3: No repeatable customer acquisition strategy.
- 18. #4: Don’t tell a good story.
- 19. #5: Know nothing about the investors they’re pitching.
- 20. #6: Make stuff up instead of saying “I don’t know.”
- 21. #7: Seek only confirming, not dis confirming evidence.
- 22. #8: Pick advisors that are easily accessible, not relevant.
- 23. #9: Treat fundraising like it’s an end, not a means.
- 26. We get paid from a few home runs (are you one?). TOTAL $100.0 $315.0 $215.0 2 deals, 10x 3 deals, 3x 5 deals, 0.5x All 10 deals, 3.2x
- 28. We like good ideas, but prefer great execution. Good idea Great execution
- 29. We love numbers (are you measuring everything?). Check out blogs by David Cancel and David Skok for more: www.davidcancel.com www.forentrepreneurs.com
- 30. It’s easier to get our advice than our money.
- 32. Startup Mistakes to Avoid + Things to Know About Venture Capital MICHAEL GAISS Senior Vice President, Highland Capital Partners [email_address] | @michaelgaiss Startup Weekend University of Michigan January 23, 2011