ACCELERATEDSTARTUP
VITALYM.GOLOMB//@VITALYG FEBRUARY25TH,2016
#acceleratedstartup
VITALYM.GOLOMB//SANFRANCISCO&THEWORLD
WANTTHESLIDESANDMORE?
golomb.net/techcode
✓ BORNINUKRAINE,GREWUPINCUPERTINO-STARTUPSSINCEAGEOF13
✓ FOUNDEROF“STARTUPADDVENTURE”CONFERENCE-SEVENCOUNTRIES
✓ DEGREEINCOMPUTERANDVIDEOIMAGING
✓ STARTEDTHREECOMPANIES,ONEVC-BACKED
✓ GUESTLECTUREDATSTANFORD,UCBERKELEY,ANDOTHERS
✓ SPEAKER&MENTORIN20+COUNTRIESANNUALLY
✓ GUESTCONTRIBUTORTOTECHCRUNCH
✓ AUTHOR“ACCELERATEDSTARTUP”COMINGIN2016
corporate
people
startup
people
P expertsinonearea
P yearsclimbingladder
P stablelifestyle
P realresponsibilities
P lifebalance
P generalists
P earlystart
P cheaplifestyle
P nothingtolose
P nothingelsematters
SOWHATTHEF***
ISASTARTUP?
ASTARTUPIS...
anexperimentinsearch
ofabusinessmodel-steveblank
SCALABLE

STARTUP
TRANSITION COMPANY
businessmodelfound
product/marketfit
repeatablesalesmodel
managershired
break-even
profitable
rapidscale
newseniormanagement
~150people
“astartupisnotasmaller
versionofalargecompany”-steveblank
ASTARTUPISACOMPANY
THATISCONFUSEDABOUT:
1.WHATITSPRODUCTIS,
2.WHOITSCUSTOMERSARE,
3.HOWTOMAKEMONEY
-DAVEMCCLURE
“ASTARTUP’SDEFAULT
STATEIS#FAILURE.ASA
FOUNDER,YOUHAVETO
WORKTOUNFAILIT.”
-VITALYM.GOLOMB
whywouldyouwantto
startacompany?
getgoodgrades
gotoagoodcollege
getinagoodcompany
getregularpromotions
retire,playgolf,die
normalcareer
startupcareer
ifsuccessful
whatpeoplethink
itlookslike
whatitreally
lookslike
entrepreneurship
isamentaldisorder
butittakesa
littlecrazy...
tochange
theworld
so,whyareyoudoingit?
forthe
money?
fortheIPOmoney?
100
200
300
400
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
numberofglobal
techipossince1999
371
35
75
53
SOURCE: UF WARRINGTON COLLEGE OF BUSINESS IPO DATA REPORT
fundedstartup
successrate
30%fail
30%
unprofitable
30%
somewhat
profitable
10%big
success
BYTHEWAY...
#FAILUREIN
STARTUPSIS
OVERGLORIFIED
FAILUREIS
ahardlesson
1sttimefounder18%
repeatfailedfounder20%
repeatsuccessfulfounder30%
theoddsareagainstyou
you’llgetacquiredif
youareluckyandgood
freedom?
normaljob:
oneboss
startup:
everyuser
isyourboss
haveafamily?
theywillsuffer
“asastartupceo,islept
likeababy. iwokeup
every2hoursandcried.”
-benhorowitz
DEPRESSIONISNOTAJOKE
INARECENTSURVEYOF242U.S.ENTREPRENEURS
30%DEPRESSION
29%ADHD
27%ANXIETY
yourcompanyisnotyou
don’tbeashamedtotalkaboutyourfeelings goo.gl/ItX20d
ALESSONINTEAMMORALE
jess lee - “why startup founders are always unhappy”
feeling
defeated
yet?
goodnews:
youcanimprove
yourchances
findaproblem
youcan’tlive
withoutsolving
don’tbuildtechnology
lookingforaproblemtosolve
solveapainfulproblem
whatisallthisleanbullshit?
lean=quickiterations
morechancesto
solvetheproblem
morechancesto#unfail
sowhat’sagoodstartup?
firstthingsfirst
NOTHINGMATTERS
MORETHANTRACTION
solvesapainfulproblem
foraspecificcustomer
howcanyoubesure
you’resolvingaproblem?
how is it currently
being solved?
no competitors
=
no problem
=
no market
stopcoding
getoutofthebuilding
talktoyourcustomers
faceyourfears
validateassumptions
HOWAREYOUDIFFERENT
ANDBETTER?
HARD?EXPENSIVE?SUCKS?
F’IN
ARISINGTIDE
LIFTSALLBOATS
SOURCE: CHRIS DIXON, WHAT’S NEXT IN COMPUTING?
skatetowherethe
puckisgoingtobe
DOESITscale?
$2,250,000
$4,500,000
$6,750,000
$9,000,000
Craigslist Apple Facebook Google Amazon McDonalds
revenueperemployee$8.5M
$2M
$1.2M$1.4M
$464K
$203K
don’tforget:
youarebuildinga
repeatablebusiness
measureeverything
internet-driven
customeracquisition
mainingredient:team
hiringishard
O much money
O stability
O support structure
O a long-term plan
P stock
P flexibility
P chance to make
a difference
whatyou
don’thave
whatyou
dohave
BUSINESSwithdomainexpertise
DESIGN ENGINEERING
balancedstartupteam
whatisyour
unfairadvantage?
ITISEASIERTOSTARTUP
ANYWHERENOWTHENIN
SILICONVALLEYIN1999
thenewtools
ofthetrade
VENTURE
CAPITAL
ISCHANGING
SEED:SELLADREAM
SERIESA:BETTERHAVETRACTION
SOURCE: STEVE BLANK
SOURCE: SEED DB
MEDIANEXIT=$20M
ACCELERATORSARETHE
NEWBUSINESSSCHOOL
ADVISEDBYMENTORS
FILLINKNOWLEDGEGAPS
SURROUNDEDBYCO-SUFFERINGPEERS
STAMPOFAPPROVALTOSEEDINVESTORS
ARETHEMENTORSACTIVEANDHELPFUL?
ARETHEPREVIOUSBATCHCEOsHAPPY?
REMOVEDISTRACTIONS,PREPARETOFOCUS
WHATMILESTONESAREYOUHOPINGTOACHIEVE?
@VITALYG
WANTTHESLIDESANDMORE?
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QUESTIONS?

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