startup sf: give your ideas ex-lax!
Post on 13-May-2015
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Give Your Ideas
David Weekly @ StartUp SF: December 2, 2009
“But I’m Not Ready!”
(You never are!)
Your Problem Is Your Skill.
You have a lot of vision.That’s why you’re starting a company.
You have a comprehensive ideaof what you want to build.
And It’s Awesome.
The Model In Your Head
But Magic is Hard.
“Now If Only….…I could find a technical co-founder”
“Now If Only….…I could find a technical co-founder”
What can YOU do, with YOUR skill and yourresources, in the next 48 hours?
Can you make a mailing list?A wiki page with some info?A Google Form -> Spreadsheet?
Can you pay $10 to advertise on Google for potential customers to talk with?
It’s Okay To Start Simple.
Solve someone’s problem right now.
Minimum Viable Product
“The Minimum Viable Product is the product with just the necessary features to get money and feedback from early adopters.”
Eric Ries - http://www.startuplessonslearned.com/
Ship now,
you’ll learn faster what you did wrong.
(And it’s not what you think.)
“…But It’ll Be Ugly!”
(Yep. Deal.)
“…But My Dream is So Much More!”
(You’ll get there, but start now.)
Good News!
• The only real expense you’ll have starting this thing up is feeding yourself.
• You’ll learn a lot trying to juggle all these balls.
Bad News: Fewer “Lottery Tickets”
• IPO market is close enough to dead.• These guys are >$10m/quarter:
Good News: M&A Is Up
• But…– You’ll need to either build a compelling
technology• Or a compelling market
– Or both.
Bad News: VC Expectations
• Investment firms will now expect you to have a team, a product, customers, and a provable revenue engine before they’re hungry to talk.– (These rules are excepted if you’re famous.)
Your Best Plan: Rapid Profitability
• If you are earning your salary, you’re master of your destiny.
• So shoot to make money immediately.
• (Use PayPal, mailed checks, anything.)
GOOD NEWS!
You already have everything you need to make a first step.
So
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