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Growth hacks for miva driven businesses

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Who Gets Funded: Gillian Muessig of Outlines Venture Group details the Assets and Attributes of Successful Startups and CEO/Founders that VCs should look for.

Growth hacks for miva driven businesses

  1. 1. BUSINESS GROWTH HACKS GILLIAN MUESSIG OUTLINES VENTURE GROUP
  2. 2. Part 1 Assets & Attributes of Successful CEOs
  3. 3. Asset A resource that provides current or future benefit http://www.investopedia.com/terms/a/asset.asp
  4. 4. Assets of Successful CEOs
  5. 5. 1. Mentors http://www.liveplan.com/blog/2013/10/startup-weekend-recap/
  6. 6. 2. Peer networks http://blogs.mtu.edu/business-mba/tag/bill-gates/
  7. 7. 3. Relevant education Chris Gardner
  8. 8. Attribute an inherent part of someone or something https://www.google.com/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=definition:+attribute
  9. 9. 1.b. Attributes of Successful CEOs
  10. 10. 1. Humility http://moz.com/rand/negative-self-talk-self-deprecation/
  11. 11. 2. High Risk Tolerance http://www.talentclick.com/safety/prevention/can-workers-spot-safety-risk-measuring-workers-risk-tolerance/
  12. 12. 3. Privately creative
  13. 13. 4. In better shape
  14. 14. 5. Seekers/learners http://www.ted.com/talks/dan_pink_on_motivation
  15. 15. 6. Male, white, & generally tall http://blogs.mtu.edu/business-mba/tag/bill-gates/
  16. 16. Andrew CarnegieJohn P Morgan Andrew Mellon Milton Hershey Joseph Wharton Milton Hershey 6. Overwhelmingly so
  17. 17. Not always Sheri McCoySusan Wojcicki Mirissa Mayer Virginia Rometty Arianna Huffington Ursula Burns
  18. 18. 7. Unbridled Passion http://www.businessinsider.com.au/steve-jobs-apple-watch-2014-9
  19. 19. Assets of Successful Companies
  20. 20. Assets A physical or intangible thing that is useful in an effort to foil/defeat an opponent or to succeed in business
  21. 21. 1. A clear, defensible USP http://blog.weddingful.com/marketing-plan-unique-selling-proposition/
  22. 22. 2. Capital http://phil-makingchange.blogspot.com/2012/04/stories-part-2-too-much-too-little-or.html
  23. 23. 3. Location
  24. 24. 3. Location
  25. 25. 3. Location Dallas – a great place to get a medical device company funded
  26. 26. 3. Location Boston – medicine
  27. 27. 3. Location Wichita – great for aerospace
  28. 28. 3. Location Seattle – great for aerospace or tech
  29. 29. 3. Location Palo Alto does two things well. It systematically and consistently creates great companies, while also marketing itself very effectively. It tells the world that great companies come form Palo Alto even while the macro trend is that great entrepreneurs are everywhere. Julie Meyer, Financial Times http://www.ft.com/cms/s/0/357cd0e8-c656-11e4-a13d-00144feab7de.html#axzz3UqyoxOnk
  30. 30. 4. Dedicated, highly qualified teams http://www.stuff.co.nz/auckland/local-news/auckland-city-harbour-news/7788490/Workers-tackle-wheelchair-challenge
  31. 31. 4. Dedicated, highly qualified teams http://essexnewsdaily.com/sports/sports-maplewood/48400/attachment/unnamed-16-4
  32. 32. 4. Dedicated, highly qualified teams http://youtu.be/pX8BXH3SJn0
  33. 33. 5. Wizard and an Executor
  34. 34. 5. Wizard
  35. 35. 5. Wizard
  36. 36. 5. Executor with Wizard
  37. 37. Attributes of Successful Companies
  38. 38. 1. Intrinsic Motivators Dan Pink TED Talk
  39. 39. 1. Good reading/watching… http://www.ted.com/talks/dan_pink_on_motivation?language=en http://www2.webmasterradio.fm/ceo-coach/ http://www.fastcompany.com/3043461/my-creative-life/the-manager-who-blogged- his-team-to-happiness-and-productivity
  40. 40. 2. TAGFEE According to the findings from over 1,000 full-time employees across the U.S., 81% would rather join a company that values "open communication" than one that offers perks such as top health plans, free food, and gym memberships. http://www.fastcompany.com/3043826/hit-the-ground-running/beyond-transparency-can-a-culture-of-100-honesty-work
  41. 41. 2. TAGFEE According to the findings from over 1,000 full-time employees across the U.S., 81% would rather join a company that values "open communication" than one that offers perks such as top health plans, free food, and gym memberships. http://www.fastcompany.com/3043826/hit-the-ground-running/beyond-transparency-can-a-culture-of-100-honesty-work
  42. 42. 2. TAGFEE http://moz.com/about/tagfee
  43. 43. 2. Good reading/watching… MOZ: http://moz.com/about/tagfee “If I had to pick one word to use as the guideline for running a business in this new era, it would be ‘transparency’”. David Jones, Who Cares, Wins Transparency and authenticity are more than just "buzz words" in business today. They are what a rapidly growing number of consumers expect from the companies with which they do business. Scott Levy, Tweet Naked
  44. 44. Part 2 Understanding Asset Value
  45. 45. 4 questions to ask about assets What assets do I have? What assets can I get? How valuable are they? Should I pursue this asset?
  46. 46. Reminder Asset: A physical or intangible thing useful in an effort to foil/defeat an opponent or to succeed in business
  47. 47. Image credit - https://hbr.org/2008/07/competing-on-resources What makes an asset valuable?
  48. 48. Value is measured in its time
  49. 49. Space…
  50. 50. …and industry
  51. 51. Test the value of your asset
  52. 52. Is it physically unique? Blue lagoon, Iceland
  53. 53. Is it path dependent? Mineral rights http://www.sellmineral-rights.com/about-us/ http://www.biospectrumasia.com/biospectrum/news/192206/ucb-sues-firms-patent-infringement Drug patents
  54. 54. Causal ambiguity Corporate culture Innovation capabilities Agility
  55. 55. Economic deterrence Pilkington Glass Factory
  56. 56. Test the durability of your asset
  57. 57. Asset durability
  58. 58. Test Stability http://www.gettyimages.co.uk/detail/photo/businessman-holding-rolodex-royalty-free-image/200417551-001
  59. 59. Test Substitutability Steel? Aluminum. TV? Radio? DVDs? Internet.
  60. 60. Assets of successful ecommerce companies Hint: it’s not about the product line(s)
  61. 61. 1. Better marketing Unbox and start shopping, India http://qz.com/303746/why-giants-like-alibaba-are-plowing-money-into-indias-e-commerce-market/
  62. 62. 2. Better designers
  63. 63. 3. Deeply engaged community http://www.strayblogger.com/how-to-write-amazon-product-reviews/ I want to shop where I can trust the vendor and the reviewers. I trust people who care about what I care about.
  64. 64. 4. Agility Agility comes from rigorous, relentless research of your target market
  65. 65. What to do about it? What’s the hack, Gillian?!
  66. 66. Mentors Ask! Find startup groups Stop thinking you know it all Pick up the phone
  67. 67. Peer networks
  68. 68. Peer networks
  69. 69. Relevant education
  70. 70. High Risk Tolerance
  71. 71. High Risk Tolerance
  72. 72. High Risk Tolerance Be honest with yourself Honor your spouse / significant other’s risk tolerance
  73. 73. Humility Look for strength in others Openly share your weaknesses Ask for help
  74. 74. Privately Creative Have a side project going. CEO, brettapproved.com Playwright
  75. 75. In better shape Do enough to get tired Schedule it Track it
  76. 76. Seeker / learners Schedule regular research time For yourself and your entire team
  77. 77. Tall white males Ignore it. This one is NOT a causation. It’s a correlation. Learn the difference here – http://en.wikipedia.org/wiki/Correlation_does_not_imply_causation
  78. 78. Bridled Passion http://www.equinenow.com/farm/bridled_passion_farm.htm
  79. 79. NOW, GET OUT THERE AND BUILD! GILLIAN@OUTLINESVENTURE.COM

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