Startup Turkey 2016 - Andrea Barrica
•Download as PPTX, PDF•
0 likes•213 views
What I’ve Learned As A Venture Partner at 500 Startups
Recommended
Recommended
More Related Content
Viewers also liked
More from Startup Turkey
More from Startup Turkey (16)
Recently uploaded
Recently uploaded (20)
Startup Turkey 2016 - Andrea Barrica
- 2. What I’ve Learned As A Venture Partner at 500 Startups @abarrica
- 5. 3 batches (125+ startups) $60M+ in funding 1000+ of pitches
- 7. Lesson #1 eat entrepreneurs are everywhere
- 10. West Africa
- 11. alike. Every unhappy family is un -Tolstoy
- 12. Infrastructure problems Lack of mentors/operators Lack of experienced investors Fear of risk & failure
- 13. Lesson #2 Team and Growth, NOT Funding, PR, or biz plans
- 14. Define targets. Hit them, or pivot. s the only right answer to why you need to ra
- 15. Lesson #3 Be brutally honest with yourself and each other.
- 17. Lesson #4 Global thinking is a mindset and a necessity.
- 19. Lesson #5 The next generation of startups won’t look like the last.
Editor's Notes
- Jess, the CEO, and I on the left. Andy, our CTO, on your right. Jess and I met as freshmen roommates in college. Jess has been starting businesses since she was 13 and never stopped, and the problem she kept facing was managing her finances and understanding how the business finances were doing, never could understand accounting software, and that’s why we created inDinero.
- inDinero joined Silicon Valley accelerator YC in 2010 and we raised over $1M from many big investors, including Dave McClure in the early days of 500S, and many others. Jess and I were 20 years old at the time. Andy was 19. Young female founder + big problem - we got a lot of attention.
- Don’t look back. After we realized inDinero 1.0 was dead, we were almost out of funding, and we made some radical changes, none of them easy. The first difficult thing was:
- Don’t look back. After we realized inDinero 1.0 was dead, we were almost out of funding, and we made some radical changes, none of them easy. The first difficult thing was:
- Don’t look back. After we realized inDinero 1.0 was dead, we were almost out of funding, and we made some radical changes, none of them easy. The first difficult thing was:
- Don’t look back. After we realized inDinero 1.0 was dead, we were almost out of funding, and we made some radical changes, none of them easy. The first difficult thing was:
- our employees ,the fancy office. got rid of the fancy office, our chefs, and moved back into a small apartment living room. while this was hard, it was also a huge relief. we didn’t have to pretend anymore that everything was going great. the pressure was gone. And when I say we fired everyone, I mean everyone, because next we fired our customers
- our employees ,the fancy office. got rid of the fancy office, our chefs, and moved back into a small apartment living room. while this was hard, it was also a huge relief. we didn’t have to pretend anymore that everything was going great. the pressure was gone. And when I say we fired everyone, I mean everyone, because next we fired our customers
- These are some metrics that matter. Every business is different, but it’s important to remember that you didn’t start your business to collect email addresses. Measure engagement. Measure revenue.
- Empathy pays. Let me tell you how customer success generated us revenue without any outbound marketing efforts at all.
- These are some metrics that matter. Every business is different, but it’s important to remember that you didn’t start your business to collect email addresses. Measure engagement. Measure revenue.
- The 4th lesson I want to share is about metrics, specifically about which metrics we wasted time caring about and which helped us.
- Don’t look back. After we realized inDinero 1.0 was dead, we were almost out of funding, and we made some radical changes, none of them easy. The first difficult thing was:
- The 4th lesson I want to share is about metrics, specifically about which metrics we wasted time caring about and which helped us.
- I hope that my presentation today will help you start over if you fail, find your customer pain, value empathy, focus on the metrics that matter most for your business, and build diverse teams - so you can build great businesses. I also hope that you won’t have to burn $1M to figure it out. Now, I’d like to open for questions.