adventures in entrepreneurship
DESCRIPTION
A talk I gave at the Entrepreneurs Roundtable on November 3, 2011 in San Francisco.TRANSCRIPT
Adventures in Entrepreneurship
Margaret Wallace, CEO, PlaymaticsTwitter: @MargaretWallace
Trust Us.We’re Dressed as Pirates.
Margaret Wallace Shirley Lin
Twitter: @MargaretWallace
Tech, Media, Gaming
Entrepreneur
Adviser
Inventor
Entrepreneurs Must Juggle Many Things.
Users
Employees
Investors
Friends/Family
…and people.
Entrepreneurs Must Wear Many Hats.
Rainmaker
Therapist
Visionary
Enforcer
Inventor
We Do Whatever
it Takes.
That Goes for Funding.
Different Funding Options Different Considerations
Understanding The Impact of Funding Choices
Important.
Five Start-Ups I’ve Worked With or Founded
Lessons Learned
Start-Up #1: PF.Magic
Be Passionate or Go Home.
Excel in at Least One Thing.
Then innovate….
Create Meaningful Rituals
Offering to Software Gods at GMC.
Diversity in the Workplace Matters
Funding Options
Venture Capital
Angel / Super-Angel
Friends & Family
Bootstrap
Start-Up #2: Skunk Studios
Start-Up #2: Skunk Studios
Start-Up #2: Skunk Studios
Start-Up #2: Skunk Studios
Start-Up #2: Skunk Studios
Timing is Everything
“Own” Your Audience
Own Your IP
Create Ongoing Revenue Streams
Don’t Get Stale.
Funding Options
Venture Capital
Angel / Super-Angel
Friends & Family
Bootstrap
$
Copyright 2010. Margaret Wallace. Please Attribute Proper Credit if You Use These Slides
Raised $3.5 million in VC
Start-Up #3: Rebel Monkey
Understanding VC Psychology
Strength of IdeaMarket Size
Strength of TeamCompetition
Takeaway: VCs are all about managing risk. The more risk you remove, the more comfort they have with you.
80%
15%
5%
#FAIL
Break-Even
Break-Out Success
Takeaway: VC & Start-Up Goals Are Not Always in Alignment.
How VCs Rate Your Chance of Success
Verbal Cues CanBe Misleading
Non-Verbal Cues CanBe Misleading
Pivoting Takes Runway, Strength & Shared Vision.
Choose your Investor (or VC firm) carefully.
Choose your individual VC carefully.
Choose your attorney carefully.
Guard Board Composition with your Life!
1. Cover Page
2. Company Snapshot
3. Numbers
4. Timeline & Runway
5. Demo
6. Traction
7. Trajectory
From: 365 Days, $10 Million, 3 Rounds, 2 Companies, All With 5 Magic Slides
“Stop Using the projector for initial meetings.”
-- Tim Young
Accept Failure Swiftly & Gracefully
Start-Up #4: Playmatics
Funding Options
Venture Capital
Angel / Super-Angel
Friends & Family
Bootstrap
Breaking Bad: Cost of Doing Business
http://www.amctv.com/shows/breaking-bad/cost-of-doing-business
Gamification
Start-Up #5: Shadow Government
Funding Options
Venture Capital
Angel / Super-Angel
Friends & Family
Bootstrap
Find a Completely
Unique Niche
The “Truth” is Not Out There.
