Living UpThe Startup Dilemma

6 ThingsYou Need To Start

1 2 3

4 5 6

People Idea Plan

$$$$ Turn Idea Into Product

Managing Evolution

A TeamYou Need To Build

Domain ExpertiseTeam with smart skills

Let meetings be there quite oftenNon business types are loved more

Product development team delivers certainly better

ThinkLike An Investor

What’s the problem?Define a solution

Will customers really care?Yes they will. Design their solution

Why win?Because you’re here to make a difference

Gross characteristics of financial forecastDon’t focus on profits, make a good product, revenues will

follow you

ThinkLike An Investor

What’s the problem?Define a solution

Will customers really care?Yes they will. Design their solution

Why win?Because you’re here to make a difference

Gross characteristics of financial forecastDon’t focus on profits, make a good product, revenues will

follow you

There’s literally no original idea left to ‘build something new’

BUT

There’s must be a better way always and ‘there you make a difference’

Depth of Critical Thoughts

Depth of Critical Thoughts

Should Revolve Around Your Business

Measure The D

epth of Business Situation

Basic rules of business# of competitorsDepth of value-addWhat are customer options?

Measure The D

epth of Business Situation

Basic rules of business# of competitorsDepth of value-addWhat are customer options?

Know relevant modelsWhat are competitive models?What are historical models?Why have predecessor technologies failed?

Measure The D

epth of Business Situation

Basic rules of business# of competitorsDepth of value-addWhat are customer options?

Know relevant modelsWhat are competitive models?What are historical models?Why have predecessor technologies failed?

Know your own modelWhat are you betting on?How soon does it have to work?What’s important to your success?

Measure The D

epth of Business Situation

Business Plan Remains A Catalyst To Test The People

RaisingMoney

Angels, Friends, and Family

Govt. grants of various kinds

Venture CapitalMany different flavors and tastes

Tradeoff between dilution and time

How much do you need to get to the next milestone?

$$$

GettingEarly

Get revenue, ‚traction‛, start selling

Customer satisfaction more important that product and technology

Build customer relationships and customer feedback loop

Make mistakes early and cheaply

Build Domain Expertise

Become ADomain Expert

Focus on success of customer—every decision should be weighed against this

Listen to customers—Fine line between vision and passion, and being stubborn

All startups are in the service business

More things liable to change than stay constant

Everyone sells

Be the voice of the customer

Sell The Vision, Plan To Struggle

Vision&

Struggle

2X Rule: Everything takes twice as long and costs twice as much

Sales learning curve

Be realistic about valuation milestones

Raise more money; relax about valuation

Reality Check

Too Scared To Get FailedBut WHY?

Good intentions…but it is a slippery slope

It isn’t supposed to be comfortable

What culture do you want to establish?

It is okay to be small for awhile

What do you really need?

Minimum now vs. cash crunch

Growth and progress are not linear

Few Good Things:The Real Menu

Few Good Things:The Real Menu

Invest in Culture EarlyInvest in ‚team‛ values: balance, support, communication, shared values, collaborative, flexible job descriptions

Promote OpennessConsistent values + clear priorities simplifies management

Managing The CubiclesCommunicate goals and objectives, Share successes and failures, Enroll people; Encourage debate

Knowing What You’re Good AtFocus on your strengths, Complement yourself, Focus outward

A Great Product is NothingIt’s Pure Wine

It’s An Execution Play

Build Useful ProductsBuild Great Companies

Share Your Thoughts On Startup CultureDrop a line: er.neerajdhull@gmail.com