Entrepreneurial Adventure
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This document outlines the process of entrepreneurial adventure, including identifying an idea, acquiring necessary resources, executing the plan, and eventually exiting. It discusses factors to consider such as the type of idea, writing it down clearly, assessing feasibility, pitching it concisely, securing partners and funding, maintaining a sense of deadline, experimenting with marketing, and managing both success and failure. The key takeaway is that good execution is more important than having a great idea, and the best preparation is working for another startup to gain experience.
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Entrepreneurial Adventure
- 2. Agenda • Why Adventure? • Idea • Resources • Execution • Exit • Tips & Tricks • Wrapping up
- 3. Process Diagram Idea Exit Resources Execution
- 4. Why Adventure? • What’s an adventure? • Where is risk coming from? • Why do some people go for adventures? • Preparing for the adventure
- 5. Idea • Type • solve a problem • Follow a trend • Write it down • Can I make it? • Can I convince others I can make it? • Pitch it in one minute
- 6. Resources • Human Resources • Partners • Employees • Financial Resources • 3Fs • Know your sources
- 7. Execution • Development • Maintain sense of Deadline • Don’t build Titanic • Marketing • Market Entry Strategy • Always experiment • Quick wins are always appreciated
- 8. Exit • Why exit? • How to exit? • Sell • IPO • Financial rounds
- 9. Tips & Tricks • Best time to make your first startup • Best idea to pick • Simple or complex • Short or long execution • Expensive or low budget • Managing failure • Be persistent but realistic • If you have to fail, fail quickly
- 10. Wrap up There are no scarcity of good ideas… It is about good execution Even the simplest ideas could be very difficult to execute Never mix between existence of a need and existence of a market The need might be there but still could take too much money and effort to create the market The best way to prepare for your first startup is to work for a startup Internet is full of resources… No excuses
- 11. Thank You
Editor's Notes
- What’s an adventure? Risky JourneyWhere is risk coming from? Uncertainty … No Ceiling and No Floor as well Why do some people go for adventures? I don’t know… It is something inside some of usPreparing for the adventure. Think.. Read.. Experiment
- Problem is either: Flue or Broken ArmExamples: Problem Bey2ollak || Trend Social Network LinkedIn
- Partners: Need to cover different functions … no management gaps Partners: Better to have different personalities … Vertical (Details) Vs Horizontal (Big Picture)Team: Availability of qualified talents Team: Protect key personnel (Salary, Equity…)
- Marketing: Good products don’t sell themselves