Starting a startup
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This document provides advice for starting a startup. It notes that startups are often confused about their product, customers, and business model. It then discusses that success is difficult, with only 25% of startups and 10% of products succeeding. It recommends finding a passion, determining what you can be best at, and what can make sustainable money. It emphasizes the importance of building the right team and advises moving fast, testing often, and keeping operations lean. The document provides tips on fundraising, what VCs want to see, and resources like accelerators that can help startups.
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Starting a startup
- 1. Building startups & making things Starting a startup
- 2. A startup is a company that is confused about what its product is, who its customers are and how to make money -Dave McClure
- 4. Success is hard Of all startups succeed 25% Of products succeed 10% Part time founders succeed 5% Funded startups make a billion 0.9%
- 5. Why do people take the leap anyway? To make money Take control of their destiny Ful鍖ll creative itch Make an impact on the world You're a miss鍖t
- 6. So you want to raise some money? Do you know Venture capitalists? How much funding to raise? Do you have a business model? Raising is not an accomplishment
- 7. The founders & team 01 02 03 What do venture capitalists want? The market & competition The timing & location 04 Marketing & Distribution
- 8. North American VC United States 48$ b Canada 1.5$ b
- 9. Are you creating a horse or a unicorn
- 10. Startup accelerators & programs
- 11. Business plans are documents investors make you write that they dont read. -Steve Blank
- 13. The lean canvas is as scienti鍖c as you make it Your 鍖rst plan almost never works so make multiple models. Work your way through them by identifying the risks and weaknesses in each model. When you know the risks systematically test to learn what works and what doesnt.
- 14. Passion What are you deeply passionate about. The thing you would do if you didnt have to worry about money. The best Given enough time and dedication what can you be the best in the world at? Money What can you make sustainable and substantial money doing?
- 15. Build the right team Founders, partners, investors, mentors, employees
- 16. The best marketing is free if done right
- 17. Move fast, test often and keep it lean
- 18. Questions? @wisebeard The product & startup library