This document discusses building and funding a startup. It begins with background on the author and an agenda. The agenda discusses what startup life is really like, getting started, raising capital, and final thoughts. It notes startups are a grind and raising money is a full-time job for CEOs. When raising money, it recommends getting as long a runway as possible, taking coffee meetings, proving you can ship product, and not hiring people just like yourself. It emphasizes the importance of meeting investors early and getting an anchor investor. The document ends by noting most people who want to start a company never start, there is value in taking the first leap, trusting your own judgment, and only starting with an idea you are passionate about

1. Building & Funding a
Startup
Mark Suster - @msuster
October 2013

2. Background
 2x Entrepreneur
(sold 2nd to Salesforce.com)
 Partner, Upfront Ventures
(large LA-based VC fund)
 Blog http://
www.bothsidesofthetable.com
 Lived in Europe 11 years
Blog: BothSidesoftheTable
Video: http://www.youtube.com/show/thisweekinventurecapital
2

3. Agenda
 What’s it Really Like?
 Getting Started
 Raising Capital
 Some Final Thoughts
3

4. How
most
people
imagine
startup
life

5. What It Really Feels Like

6. How You Imagine
You Spend Your
Days

7. Your
Actual
Days

8. Raising
Money in
the Press

9. You
Raising
Money

10. Truthfully
Startups
are a
Grind

11. We’re All Naked in the Morning Mirror

12. Agenda
 What’s it Really Like?
 Some Tips When You Get Started
 Raising Capital
 Some Final Thoughts
12

13. Take 50 Coffee
Meetings

14. Create a
Sense of
Urgency

15. Prove You Can Ship Product

16. You Manage What you Measure

17. Don’t Hire
People
Just Like
You

18. Agenda
 What’s it Really Like?
 Some Tips When You Get Started
 Raising Capital
 Some Final Thoughts
18

19. You Need to
Meet
Investors
Early

20. Otherwise They’re Judging
Your Presentation Skills

21. Frankly You Don’t Want to Judge
Investors Quickly Either

23. Over Time I Start to See a Patterns

24. It’s Part of CEO’s Fulltime Job.
ABR. Always. Be. Raising.
Biz
Dev
Recruiting
HR
Customer
Mktg
Product
Mgmt
Acctng
Tech
Raising
Capital

25. If Raising Angel / Seed,
You Need an Anchor

26. Get As Long of a Runway as You Can
(18 months the norm)

27. Agenda
 What’s it Really Like?
 Some Tips When You Get Started
 Raising Capital
 Some Final Thoughts
27

28. There are 99 Wantrapreneurs For
Every One Who Just Starts

29. There’s a Huge premium for
taking the first leap

30. Triangulate

31. In the End
Trust Your
Own
Judgment

32. Only start with an idea you’re
passionate about

33. Thank You
Mark Suster - @msuster
October 2013