From Designer to Founder

It’s the pants

Why become an entrepreneur?

Times when I am truly happy

Times when I am wearing pants

Gap analysis: this is a gap here

Idea Entrepreneur (not fast enough)

In reality, it’s more like this

Some ideas sneak up on you• Early practitioner of IA• Author of third book

on it• Partner of Carbon IQ• Founded Boxes and

Arrows• Founded IAI• Founded MIG• Founded Cucina

Media

I realize I’ve been edging toward this my entire professional life…

So what’s it like?

Not what you’d

expect…

Five lies I ran into, and five (personal) truths…

Lie #1Finally a chance to do things right

Truth: Finally a chance to learn why things are done wrong

Lie #2I don’t know anything about

business, I’m a designer

Truth: Nobody knows everything

On the other hand, now is a good time to learn excel

Lie #3: I can’t do it alone

Truth: Then don’t do it at all

Lie #4:VC are evil

Truth: VC have a job to do

Lie #5:I can do it like 37 signals.

Truth: Don’t believe the hype.

Anyone’s hype

So how do I do start a company?

Let me tell you what

I’ve got so far…

Choose your idea

From Guy Kawasaki, Art of the Start

Ability to provide unique product or service

Value of customer

compete on price

stupid

bankrupt

The holy grail

We designers are good at this!

Still…

That doesn’t matter as much as this does. Passion trumps rational every time.

Signing up to be an entrepreneur is like signing up to be bipolar

James Hong, Hot or Not founder

Choose how to fund a startup

• Friends and family• Consulting• Angel Investors• Seed Funding Firms• Venture Capital

Don’t forget the “lifestyle business”

From: How to fund a Start-up

http://www.paulgraham.com/startupfunding.html

Math

10X return means taking a 2M investment = exit of 20M + a little something for the wife and kids…

How big is your market?

You will need for fundraising• An executive summary• Powerpoint of your story• A Forecast of when you break even

Good to have• A mockup• Better: A demo• Still better: A working product generating

revenue

Pick great people

Take “the shopping mall test”

Launch crappy and learn

You suck

Designers are jerks. Including me.

Lastly

Try not to be afraid

Christina Wodtke, Founder & CEO | christina@cucinamedia.com