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Accelerated Startup - #Idea-to-IPO

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Presented at Geekdom San Francisco for Idea to IPO May 13th, 2015

Accelerated Startup - #Idea-to-IPO

  1. ACCELERATEDSTARTUPA.K.A.DON’TBEAF***INGWANTREPRENEUR VITALYM.GOLOMB @VITALYG MAY13th,2015
  2. VITALYM.GOLOMB//SANFRANCISCO&THEWORLD golomb.net // @vitalyg ✓ BORNINUKRAINE,GREWUPINCUPERTINO-STARTUPSSINCEAGEOF13 ✓ SPEAKER&MENTORIN20+COUNTRIESANNUALLY ✓ FOUNDEDDESIGNFIRMINUSANDEUROPE ✓ FOUNDEDKEENSYSTEMS-ECOMMERCEFOR$700BPRINTINDUSTRY ✓ EXECUTIVEPRODUCER“STARTUPADDVENTURE”EVENTS ✓ CO-FOUNDEDCCCSTARTUPSTOFUNDTOPEMEASTARTUPS ✓ DEGREEINCOMPUTERANDVIDEOIMAGING ✓ GUESTLECTUREDATSTANFORD,UCBERKELEY,ANDOTHERS ✓ CONTRIBUTEDARTICLESTOTECHCRUNCHANDOTHERS ✓ PUBLISHING“ACCELERATEDSTARTUP”IN2015 ✓ DIRECTEDDOCUMENTARY“STARTUPSPRING”-FALL2015
  3. LOCAL MARKETPLACE FOR ANYTHING PRINTED www.printmo.co www.keenprint.com
  4. www.startupaddventure.co FROMSILICONVALLEYTOTHEWORLD “TheTEDofStartups” www.cccstartups.com @cccstartups UNLOCKINGGEOGRAPHIES ENABLINGEXCEPTIONALFOUNDERS
  5. corporate people startup people ! expertsinonearea ! yearsclimbingladder ! stablelifestyle ! realresponsibilities ! lifebalance ! generalists ! earlystart ! cheaplifestyle ! nothingtolose ! nothingelsematters
  6. SOWHATTHEF*** ISASTARTUP?
  7. ASTARTUPIS... anexperimentinsearch ofabusinessmodel-steveblank
  8. SCALABLE
 STARTUP TRANSITION COMPANY businessmodelfound product/marketfit repeatablesalesmodel managershired break-even profitable rapidscale newseniormanagement ~150people “astartupisnotasmaller versionofalargecompany”-steveblank
  9. ASTARTUPISACOMPANY THATISCONFUSEDABOUT: 1.WHATITSPRODUCTIS, 2.WHOITSCUSTOMERSARE, 3.HOWTOMAKEMONEY -DAVEMCCLURE
  10. “ASTARTUP’SDEFAULT STATEIS#FAILURE.ASA FOUNDER,YOUHAVETO WORKTOUNFAILIT.” -VITALYM.GOLOMB
  11. whywouldyouwantto startacompany?
  12. getgoodgrades gotoagoodcollege getinagoodcompany getregularpromotions retire,playgolf,die normalcareer
  13. startupcareer ifsuccessful whatpeoplethink itlookslike whatitreally lookslike
  14. entrepreneurship isamentaldisorder
  15. butittakesa littlecrazy... tochange theworld
  16. so,whyareyoudoingit?
  17. forthe money?
  18. fortheIPOmoney?
  19. 50 100 150 200 250 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 numberoftech ipossince1999 26 <50
  20. fundedstartup successrate 30%fail 30% unprofitable 30% somewhat profitable 10%big success
  21. BYTHEWAY... #FAILUREIN STARTUPSIS OVERGLORIFIED
  22. FAILUREIS ahardlesson
  23. 1sttimefounder18% repeatfailedfounder20% repeatsuccessfulfounder30% theoddsareagainstyou
  24. you’llgetacquiredif youareluckyandgood
  25. freedom?
  26. normaljob: oneboss
  27. startup: everyuser isyourboss
  28. haveafamily? theywillsuffer
  29. “asastartupceo,islept likeababy. iwokeup every2hoursandcried.” -benhorowitz
  30. feeling defeated yet?
  31. ALESSONINTEAMMORALE jess lee - “why startup founders are always unhappy”
  32. goodnews: youcanimprove yourchances
  33. findaproblem youcan’tlive without solving
  34. don’tbuildtechnology lookingforaproblemtosolve solveapainfulproblem
  35. whatisallthisleanbullshit?
  36. lean=quickiterations
  37. morechancesto solvetheproblem
  38. morechancesto#unfail
  39. sowhat’sagoodstartup?
  40. firstthingsfirst
  41. NOTHINGMATTERS MORETHANTRACTION
  42. solvesapainfulproblem foraspecificcustomer
  43. howcanyoubesure you’resolvingaproblem?
  44. HOWISITCURRENTLY BEINGSOLVED?
  45. nocompetitors = noproblem = nomarket
  46. stopcoding getoutofthebuilding talktoyourcustomers faceyourfears validateassumptions
  47. HOWAREYOUDIFFERENT ANDBETTER? HARD?EXPENSIVE?SUCKS?
  48. F’IN
  49. ARISINGTIDE LIFTSALLBOATS
  50. what’syourbusinessmodel?
  51. symmetric customerpays forexperience
  52. asymmetric 3rdpartypays forcustomer
  53. DOESITscale?
  54. $2,000,000 $4,000,000 $6,000,000 $8,000,000 Craigslist Apple Facebook Google Amazon McDonalds revenueperemployee$7.4M $1.87M $1.23M$1.24M $578K >$15K
  55. don’tforget: youarebuildinga repeatablebusiness
  56. measureeverything
  57. internet-driven customeracquisition
  58. mainingredient:team
  59. hiringishard
  60. " much money " stability " support structure " a long-term plan ! stock ! flexibility ! chance to make a difference whatyou don’thave whatyou dohave
  61. BUSINESSwithdomainexpertise DESIGN ENGINEERING balancedstartupteam
  62. whatisyour unfairadvantage?
  63. ACCOMPLISHMENTS MONEYRAISED? PARTNERSHIPS? GROWTH?
  64. ITISEASIERTOSTARTUP ANYWHERENOWTHENIN SILICONVALLEYIN1999
  65. thenewtools ofthetrade
  66. VENTURE CAPITAL ISCHANGING
  67. SEEDSELLADREAMSERIESABETTERHAVETRACTION
  68. SOURCE: STEVE BLANK
  69. SOURCE: SEED DB MEDIANEXIT=$20M
  70. BONUSRAPIDFIRESURVIVALTIPS
  71. THEONLYTHINGTHATCANPREPAREYOUTO RUNASTARTUPISTOWORKINASTARTUP
  72. PICKYOURCONFOUNDERSCAREFULLY,TEAM BREAKUPSAREHARDERTHANDIVORCES
  73. YOUCAN’TOUTSOURCEYOURCORE COMPETENCY-YOUMUSTBEABLETO DESIGN,BUILD,ANDMARKET
  74. YOURCHANCESOFSUCCESSARESMALL GOFORBIGANDGROWINGMARKETS
  75. DON’TCONFUSEANIDEAOR TECHNOLOGYWITHABUSINESS
  76. DON’TFALLINLOVEWITHYOURPRODUCT THATISYOURCUSTOMERS’JOB
  77. DON’TIMITATECOMPETITION TALKTOYOURCUSTOMERSINSTEAD
  78. MOVEFASTORDIE.DON’TDELAYLAUNCHING YOURPRODUCTWILLNEVERBEPERFECT
  79. “EVERYONE”ISNOTATARGETMARKET PICKACUSTOMER,SOLVETHEIRPROBLEM
  80. KEEPITSIMPLEANDDON’TOVERBUILD YOUAREPROBABLYDEFINITELYWRONG
  81. DOUNSCALABLETHINGSTOPROVETHERE ISABUSINESS-SCALEONLYAFTERTHAT
  82. DON’TSPENDMONEYONANYTHINGTHAT’S NOTRELATEDTOGETTINGCUSTOMERS BEFOREACHIEVINGPRODUCT-MARKETFIT
  83. DON’TCUTCORNERSONYOURBUSINESS USECONTRACTS,PROPERACCOUNTING
  84. HIRESLOW,FIREFAST-NEVERHIRELOSERS
  85. “GOINGVIRAL”ISNOTABUSINESSPLAN SETASIDEMONEYFORMARKETING
  86. DON’TTAKESET-BACKSPERSONALLY GETUSEDTOHEARING“NO”
  87. NOONEWILLSTEALYOURSTUPIDIDEA TALKABOUTITANDGETFREEADVICE
  88. DEVELOPAVISIONANDFOCUS DON’TTURNINTOACONSULTINGCOMPANY
  89. CHASECUSTOMERS,NOTINVESTORS
  90. DON’TRELYONADVISORS,MENTORS, ORPARTNERSTOBUILDYOURBUSINESS
  91. KNOWWHENTOSTOPSOCIALIZING ANDGOINGTOEVENTS-GETTOWORK
  92. unlessofcourseyouare comingtooneofour’s
  93. COMINGIN2015 download 1STCHAPTER FOUNDERCO.COM want theSE slides? FOLLOW @VITALYG

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