This document provides advice for starting a startup. It notes that startups are often confused about their product, customers, and business model. It then discusses that success is difficult, with only 25% of startups and 10% of products succeeding. It recommends finding a passion, determining what you can be best at, and what can make sustainable money. It emphasizes the importance of building the right team and advises moving fast, testing often, and keeping operations lean. The document provides tips on fundraising, what VCs want to see, and resources like accelerators that can help startups.

1. Building startups & making things
Starting a startup

2. A startup is a company that
is confused about what its
product is, who its customers
are and how to make money
“
-Dave McClure

3. The startup myth

4. Success is hard
Of all startups
succeed
25%
Of products
succeed
10%
Part time founders
succeed
5%
Funded startups
make a billion
0.9%

5. Why do people take
the leap anyway?
• To make money
• Take control of their destiny
• Fulfill creative itch
• Make an impact on the world
• You're a missfit

6. So you want to raise
some money?
• Do you know Venture capitalists?
• How much funding to raise?
• Do you have a business model?
• Raising is not an accomplishment

7. The founders & team
01
02
03
What do venture
capitalists want?
The market & competition
The timing & location
04 Marketing & Distribution

8. North American VC
United States
48$
b
Canada
1.5$
b

9. Are you creating a
horse or a unicorn

10. Startup accelerators & programs

11. Business plans are
documents investors make
you write that they don’t read.
“
-Steve Blank

13. The lean canvas is as
scientific as you make it
Your first plan almost never works so make multiple
models. Work your way through them by identifying
the risks and weaknesses in each model. When you
know the risks systematically test to learn what
works and what doesn’t.

14. Passion
What are you deeply passionate
about. The thing you would do if you
didn’t have to worry about money.
The best
Given enough time and
dedication what can you be
the best in the world at?
Money
What can you make
sustainable and substantial
money doing?

15. Build the right team
Founders, partners, investors, mentors, employees

16. The best marketing
is free if done right

17. Move fast, test often
and keep it lean

18. Questions? @wisebeard
The product & startup library