how to start a startup
TRANSCRIPT
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How to start a startup
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What is entrepreneurship?
What is a startup?
Wrong reasons to start a startup.
‘I have an idea, now what?’
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1.What is entrepreneurship?
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“The capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit.
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2.The myths about entrepreneurs.
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1. Entrepreneurs are born not made.
2. Individual start companies.
3. Entrepreneur are the smartest people.
4. All leaders are charismatic.
5. Entrepreneur love risks.
6. Entrepreneurs are undisciplined.
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3.What is a startup?
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“A startup is a company working to solve a problem where the solution is not obvious and success is not guaranteed.
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4.Wrong reasons to start a startup.
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1. Money
2. “Khud ka Boss” – be my own boss
3. Fame
4. “Aur koi option nahi bacha.” – no option left
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“To solve a problem. To make this world a better place.
The correct reason:
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5.Do I need a cofounder?
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“What would happen if a bus rams you down one day? The business dies.- Kevin O’leary
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“"My partners ... taught me that in order to create wealth, I needed to pair up with people whose strengths compensated for my weaknesses."
- Kevin O’leary
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6.‘I have an idea, now what?’
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A. Who is your customer? Who experience a similar
need To whom you could deliver
your solution at similar cost And who would buy it at
similar price
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B. Avoid Competition All happy companies are different
Compete if you have a product that is 10x better.
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C. Go for monopoly.
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D. Build. Test. Improve your MVP. Ideation – Human
centered design approach.
Launch fast and Improve.
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THE EQUITY SPLIT
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Equity Split Start with equal equity split. Use vesting equity.
- 1st year 2nd year 3rd year 4th year0%
12%25%
37%50%
Company owenwership overtime
Start 1st year 2nd year 3rd year 4th year0%
12%25%
37%50%
Company owenwership overtime with cliff
12%
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THANKS!
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