noise cancellation for entrepreneurs by patrick comer (noew 2014)
DESCRIPTION
Do you feel like all you hear is the relentless noise of advice from everyone around you? Entrepreneurs are constantly the target of "expert" advice. How do you stay focused on what is critical to your businesses success? In this session Patrick Comer, entrepreneur and Federated Sample CEO, will discuss the value and challenges of the constant advice handed to entrepreneurs and give you the tools needed to focus on what is truly important to find success. Check out the article: http://hub.am/1m6JV5nTRANSCRIPT
Noise Cancellation Patrick Comer Founder & CEO, Federated Sample
@comerpatrick
@comerpatrick
Filtering Startup Killers What Breeds Success Shrinking Pie and Rising Tide
@comerpatrick
My Path
1997
1998
1999
2000
2001
2003
2004
2005
2010
2014
Carpenter / Music Teacher
Money Nexus
govWorks
Instant Gravity
Business School – Paganini Foods & Video Game Financing
iFILM
SampleCzar
OTX
Founded Federated Sample
@comerpatrick
Filtering
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1998, was a long time ago…
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@comerpatrick
In 1998, noise looked like this:
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Now, it looks like this:
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Now, it looks like this:
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Who should you listen to?
You have no idea!
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@comerpatrick
Worst Offenders
• Business Executives
• Lawyers
• Bankers
• I worked for Google, Facebook, etc…
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Same goes for entrepreneurs
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So who should you listen to?
• Entreps who have failed
• Your spouse
• Your parents and family
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My Path – wins and losses
1997
1998
1999
2000
2001
2003
2004
2005
2010
2014
Carpenter / Music Teacher
Money Nexus - BUST
govWorks – raised $65m - BUST
Instant Gravity – killed by 9/11
Business School – Paganini Foods & Video Game Financing
iFILM – WIN! Sold to Viacom for $49m
SampleCzar - BUST
OTX – WIN! Sold to Ipsos for $71m
Founded Federated Sample
@comerpatrick
@comerpatrick
Questions?
@comerpatrick
Startup Killers
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This is a marathon not a sprint
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Emotions
Cash
Got to eat
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Survival of the prepared…
Min cash on hand
Raise at least 3x – 5x of your cash minimum
Revenue
Costs
Cash
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So how do you get that cash?
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All money comes with strings
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VC funding is NOT a win…
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Execute, execute, execute!
@comerpatrick
Questions?
@comerpatrick
Failure Breeds Success
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Takes more than 1
“You can do it!”
“That’s OK, try again.”
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Doesn’t have to be your baby…
NEW CO
FAILED CO
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Startups quickly teach you how to execute and “get it done anyway”
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A startup community is judged by “successful failures”
@comerpatrick
My Path – wins and losses
1997
1998
1999
2000
2001
2003
2004
2005
2010
2014
Carpenter / Music Teacher
Money Nexus - BUST
govWorks – raised $65m - BUST
Instant Gravity – killed by 9/11
Business School – Paganini Foods & Video Game Financing iFILM – WIN! Sold to Viacom for $49m
SampleCzar - BUST
OTX – WIN! Sold to Ipsos for $71m
Founded Federated Sample
@comerpatrick
Questions?
@comerpatrick
Shrinking Pie and
Rising Tide
@comerpatrick
How we measure matters
How big is Los Angeles?
Greater LA Market – 18.2M
Los Angeles Metro – 13.0M
Los Angeles County –
9.9M
City of Los Angeles –
3.8M
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Orleans Population 1840-2012
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GNO Population 1970-2012 (in 000s)
100K higher than 1970
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Southeast Super-Region 1970-2012 NOLA + Baton Rouge (in 000s)
Only 50K from our 2005 peek of 2.2 million
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Back on top – Portland, Charlotte, Orlando, San Antonio
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REBOOTING NOLA
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The Situation
1960 2012
Katrina 2005
Shrinking Pie Rising Tide
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Tension between the old and the
new
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Responsibility of the Entrepreneur
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How big is the 2050 pie?
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Ode - by Arthur O'Shaughnessy
We build up the world's great cities, And out of a fabulous story, We fashion an empire's glory
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