Tips & Tricks for 1 st  Timers Ishay Green
Scope Things I think you should pay attention to in order to avoid fucking up your first startup
YOUR LIFE 1
Your Life Your family is an obstacle on your way to becoming rich…
Your Life …  and don’t get me started on marriage and children
Your Life NOT!
Your Life Your new startup is just an episode in your life’s journey
Your Life Are having 100 Million dollars at the age of 45 worth missing your youth?
CO-FOUNDERS 2
Co-Founders Finding good partners is more difficult than raising capital for a lousy Idea
Co-Founders - Integrity Integrity is #1 quality
Co-Founders Work with your co-founders for a while, reach significant understandings and put them in  writing
Co-Founders - Integrity Identify the partners’ weaknesses
Co-Founders Divide work and responsibility. Trust your partners
THE IDEA 3
The Idea Revolution  VS  Evolution
The Idea Stay in your domain of expertise
The Idea Know everything there is to know about the idea space
The Idea Research; talk to as many non-believers as possible
The Idea Don't be too secretive, ideas are trivial compared with their execution
The Idea Prepare a short executive summary presenting your vision
The Idea Don’t expect to raise $1M with a shitty paper written in bad Ingleesh
The Idea Challenge yourself by picking a goal that will stretch your capabilities and determination to their limit
The Idea If you are 100% certain it can be done, you are probably not far enough ahead of the competition
The Idea Make sure that your startup is not built over a loop hole
THE TEAM 4
The Team Startups cannot afford any spare heads (Lean & Mean)
The Team If someone doesn't deliver, let them go
The Team Recruit the core people on a trust basis
The Team Don't hire good developers
The Team Aim for a positive and optimistic team   (You cannot afford more then one downer)
EXECUTION 5
Execution Never Under Estimate the Power Of Denial
Execution Be, and stay involved
Execution Do not work around the clock – You end up waking the following morning with the same ideas you had the day before..
Execution “ Brick walls are there to stop the people who don’t want it badly enough” (Randy Pauch)
Execution Work like you're a startup, design like you're Microsoft
Execution Use best-of-breed tools, do not reinvent the wheel
Execution Invest in proper framework, it pays for itself down the road
Execution Be dynamic, re-factor and rewrite!
Execution Think minimal
Execution Perfection is achieved, not when there is nothing more to add, but when there is nothing left to take away.  (Antoine de Saint-Exupery)
Execution Beware of minimal
Execution Study your competition and adjust your product in order to beat them in every aspect
Execution Talk to potential customers from day 1
Execution Technological crisis is part of the game. When overcoming it, it is called IP.
Execution Accept the fact that uncertainty, doubt and anxiety will dog you
BUSINESS PLAN & FINANCE 6
Finance & Business Plan Plan everything. Review it with a lot of people
Finance & Business Plan Before you refuse funding – think thrice
Finance & Business Plan Currency – Plan for the worst  (Unimaginable but… 1 USD might worth less than 4 shekels one day!!)
Finance & Business Plan Always pay attention to the fuel gauge
LEGAL 7
Legal Think of the legal aspects of your startup – There are many illegal ways to make money (If you are interested talk to me after the presentation)
Legal Think of the legal aspects of your startup – There are many illegal ways to make money (If you are interested talk to me after the presentation)
INSIGHTS 8
General Startup Insight Startup has no memory
General Startup Insight Startup valuation is fluid
General Startup Insight Find your gurus (I am available)
General Startup Insight Beware of name droppers
Last Slide…. Take it easy! Hysteria makes you act stupid
Thanks!

Mit Forum Ishay Green tips for first timers