WHAT IS A STARTUP? “It is a company confused about: -‐ What its product is -‐ Who its customers are -‐ How to make money. When confusion stops, it becomes a real business.” Dave McClure 500 Startups Source: hGp://www.paulgraham.com/wealth.html This plus scale!
Source: hGp://www.paulgraham.com/wealth.html “Instead of working for forty years, you work as hard as you possibly can for four.” Paul Graham Y Combinator HOW TO MAKE WEALTH HOURS x FOCUS x TALENT = 10~100x PRODUCTIVITY
“In a startup, no facts exist inside the building, only opinions.”!Steve Blank!MAKE SOMETHING PEOPLE WANT
IT TAKES A VILLAGE TALK TO EVERYONE! (Advisors, Investors, Partners, Team, Friends, Family…)
GOOD IDEAS BAD IDEAS GOOD IDEAS THAT LOOK BAD BAD IDEAS THAT LOOK GOOD STARTUPS ARE HERE
Someone had THE SAME IDEA before you diﬀerent bme, diﬀerent place, diﬀerent people = diﬀerent results?
INNOVATION does not maGer to (most) customers What maers is what they can do with it
TRACTION is #1 but WHICH NUMBERS? X signups last week How many this week? Do they do the one thing you want? How many are back this week?
To Remember!• Work on what you like!• Work with people you like!• It’s a marathon (with some sprints)!• Learn what you need!• Check the right numbers!• Traction trumps (almost) everything!
Benjamin Joffe!• 13 years in Asia!• Founder, +8*!• Co-Founder, Cmune!• Mentor, 500 Startups!• Angel investor!• Speaker, Columnist!