startups: what is a high growth startup, startup ideas and traits for success
TRANSCRIPT
Startups
Startups
Hi, I’m Dwight
1 Gold Coast born and bred
2 Amsterdam based (for now)
3 Software engineer
4 Startup founder
5 Community advocate
@dwightgunning
@dwightgunning
Visiting Entrepreneur Program
Who’s in the room?
@dwightgunning
Ask if you’re not sure …
@dwightgunning
• What is a startup?
• Have I got what it takes to be successful?
• How do I know if I have the right startup idea?
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Topics
What is a startup?
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“A temporary organisation in search of a repeatable, scalable and sustainable business model”
— Steve Blank
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A formal definition
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VentureFunded
Bootstrapped
High Risk
High Growth
Innovative
The Party Balloon Diagram
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How do startups get going?
Inspired Individuals
Emerging Entrepreneurs Founders
Early-stage Startup
Growth-stage startup
Mature business
Concept credit: Daniel Newman @dwightgunning
Startup
Business
Product- Market
Fit
Uncertainty rules …
Concept credit: The Lean Startup @dwightgunning
Build
MeasureLearn
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Data
Ideas MVP
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Minimum Viable Product
If you are not embarrassed by the first version of your product, you've launched too late! Reid Hoffman (LinkedIn)
Do I have what it takes
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What traits do entrepreneurs need?
Think in problems
and solutions
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What traits do entrepreneurs need?
Think in problems
and solutionsVision
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What traits do entrepreneurs need?
Think in problems
and solutionsVision Self Belief
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What traits do entrepreneurs need?
Think in problems
and solutionsVision Self Belief
Risk Taking
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What traits do entrepreneurs need?
Think in problems
and solutionsVision Self Belief
TenacityRisk Taking
Startup ideas
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Passion > Idea > Startup
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A similar story …
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… they looked like terrible ideas
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A similar story …
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… they started as side projects / pivots
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‘If something is important enough, even if the odds are against you, you should still do it.’ — Elon Musk
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It’s a wrap.
@dwightgunning
Download the slideshttp://www.launchsteps.com/meetups-workshops/