startup jackpot april 13 2013 - koester
TRANSCRIPT
FAIL.FAIL FAST.
FAIL WITH DATA.LEAN FAILURE.IDEAS SUCK.
SERIES A CRUNCH.RAPID ITERATION.
PIVOTS.ACQUIHIRES.
F.
#1 “YEAH, IT’S ALL REVENUE”
Once your company has a lot of revenue, you can be choosy. Until then, any
revenue is revenue.
#2 “CULTURE IS HARD WORK”
Most startups begin with great culture; but amazing startups find ways to keep
great culture.
#3 “NO HIRE IS EVER A STOP GAP”
If you wouldn’t spend 8 straight hours in the car with any hire, then dear god don’t
hire them.
#4 “DECISIONS AREN’T MADE VIRTUALLY”
Starting a company with a virtual team is like trying to
learn to be a surgeon watching the Health
Channel.
#5 “DON’T OUTSOURCE CORE SHIT”
Most common founder sob story: “So we outsourced it to _______ and now we are
stuck with this pile of junk.” #dontdoit
#6 “DATA YOU IDIOT. DATA.”
Data is a startup’s unfair advantage. Design your
company around the data advantage or you’ve already
lost.
#7 “100 LOVERS VS. 1,000,000 LIKERS.”
If you can’t convince 100 people to totally, f-ing love you, good luck convincing a
million.
#8 “FOCUS. FOCUS. FOCUS. YUP, FOCUS.”
If you aren’t working on something that scares the heck out of you, then you aren’t working on what
matters.
#9 “REMEMBER, YOU AREN’T THAT SMART.”
The best entrepreneurs have the curiosity of a child, the humility of a priest and the impatience of a dying man.
#10 “VESTING IS YOUR FRIEND.”
Have an incredibly honest and uncomfortable
conversation upfront with your cofounders. You’ll thank
me later.
THE RECAP…
1. YEAH, IT’S ALL REVENUE2. CULTURE IS HARD WORK
3. NO HIRE IS EVER A STOP GAP4. DECISIONS AREN’T MADE
VIRTUALLY5. DON’T OUTSOURCE CORE SHIT
6. DATA YOU IDIOT, DATA.7. 100 LOVERS VS. 1,000,000
LIKERS8. FOCUS, FOCUS, FOCUS, YUP,
FOCUS.9. REMEMBER, YOU AREN’T THAT
SMART.10.VESTING IS YOUR FRIEND