romania 5
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Mark Randall (Adobe) - Three Clever Tricks to Triple Your Startup's Chance of SuccessTRANSCRIPT
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What is an entrepreneur?What is an entrepreneur?
FantasyFantasy
RealityReality
“
Why be an entrepreneur?Why be an entrepreneur?
“Be my own boss,set my own hours”
“Run the whole show”“Stop working so hard”
“Get RICH!!!”
“I want people to like me”
Is it really the money?Is it really the money?
You can do all the workYou can do all the workand succeed wildly but and succeed wildly but still not get the prize.still not get the prize.
So, if it’s not the money, So, if it’s not the money, why be an entrepreneur?why be an entrepreneur?
Entrepreneurship is the engine Entrepreneurship is the engine that drives the world.that drives the world.
You hold the power You hold the power to shape your destiny. to shape your destiny.
Unconquerable
INVICTUSAn Ode to the Spirit of Entrepreneurs
Wow…Wow…
That’s powerful.That’s powerful.
Let’s do it!Let’s do it!
HOLD ON…HOLD ON…
BAD NEWSBAD NEWS
Most Startups Fail
Cratering SucksCratering Sucks
PainfulPainful
EmbarrassingEmbarrassing
ExpensiveExpensive
ExcruciatingExcruciating
Endless NightmareEndless Nightmare
of Lingering of Lingering DEATHDEATH
So let’s avoid that :-)So let’s avoid that :-)
How?How?
It begins with a better It begins with a better definition of the term definition of the term
“Startup”“Startup”
A flexible organization designed to A flexible organization designed to deliver a new product or servicedeliver a new product or service
under conditions under conditions of of extreme uncertaintyextreme uncertainty..
Source: Eric Ries
Startup Startup ==
ExperimentExperimentSource: Eric Ries
GOOD NEWSGOOD NEWS
Right now is the best time Right now is the best time EVER in the history of the EVER in the history of the
world to be an entrepreneur.world to be an entrepreneur.
• The entire world is smaller and faster, disruption and chaos are everywhere.
• Today it costs dramatically less to do a startup than five, ten or twenty years ago
• Information is readily available• Old-school venture capital is shrinking• Angels, Super-Angels, Series A VCs, Incubators
(YCombinator, TechStars, Bootup Labs etc.)• Smaller rounds, executed much faster• Smaller, faster exits that are more profitable • Powerful new techniques to optimize success
Steve Blank Eric Ries
Sean Ellis Dave McClure Ash Maurya
SAD FACTSAD FACT
Most startups fail from Most startups fail from
a lack of CUSTOMERS a lack of CUSTOMERS
not a lack of PRODUCTnot a lack of PRODUCTSource: Steve Blank
Source: Geoffrey Moore
Crossing the Chasm
The Old, Wrong Way
Biz Plan & Raise Capital
Develop Product Beta Test Ship Product
Source: Steve Blank
The New, Better WayThe New, Better Way
Customer Customer DiscoveryDiscovery
Customer Customer ValidationValidation
Customer Customer CreationCreation
Company Company BuildingBuilding
Source: Steve Blank
Customer Customer DiscoveryDiscovery
Customer Customer ValidatioValidatio
nnCustomer Customer CreationCreation
Company Company BuildingBuildingSTOP STOP STOP
The New, Better WayThe New, Better Way
Customer Customer DiscoveryDiscovery
Customer Customer ValidationValidation
Customer Customer CreationCreation
Company Company BuildingBuilding
Search for a businessSearch for a business Growth of a businessGrowth of a business
IterationIteration ExecutionExecution
Source: Steve Blank
The PivotThe Pivot
Embrace ChangeEmbrace Change
Q: How do I decide Q: How do I decide what my startup what my startup should be about?should be about?
A: Follow your passionA: Follow your passion
What the hell What the hell does that mean?does that mean?
3 wrong ideas that screw up3 wrong ideas that screw upmany smart entrepreneursmany smart entrepreneurs
1.1. Keep your idea secretKeep your idea secret
2.2. Pour your passion and soul into itPour your passion and soul into it
3.3. Design a business that a big company Design a business that a big company will want to acquire will want to acquire
Watch Out for the Decisions That Bite
Is it a Plus or an X?
Decision A: What to name the company.
Decision B: Which state to incorporate in.
Decision N: Which market to target.
A + BA + B x N
1 + 1 + 2 + 1 + 4 + 2 x 0 = Zero!
