Tips & Tricks for 1Tips & Tricks for 1stst Timers TimersIshay GreenIshay Green

ScopeScope

Things I think you should pay attention to

in order to avoid fucking up your first startup

YOUR LIFEYOUR LIFE

11

Your LifeYour Life

Your family is an obstacle on your way to

becoming rich…

Your LifeYour Life

… and don’t get me started on marriage and

children

Your LifeYour Life

NOT!

Your LifeYour Life

Your new startup is just an episode in your life’s

journey

Your LifeYour Life

Are having 100 Million dollars at the age of 45

worth missing your youth?

CO-FOUNDERSCO-FOUNDERS

22

Co-FoundersCo-Founders

Finding good partners is more difficult than raising capital for a

lousy Idea

Co-Founders - IntegrityCo-Founders - Integrity

Integrity is #1 quality

Co-FoundersCo-Founders

Work with your co-founders for a while,

reach significant understandings and put

them in writing

Co-Founders - IntegrityCo-Founders - Integrity

Identify the partners’ weaknesses

Co-FoundersCo-Founders

Divide work and responsibility.

Trust your partners

THE IDEATHE IDEA

33

The IdeaThe Idea

Revolution VS

Evolution

The IdeaThe Idea

Stay in your domain of expertise

The IdeaThe Idea

Know everything there is to know about the

idea space

The IdeaThe Idea

Research; talk to as many non-believers as

possible

The IdeaThe Idea

Don't be too secretive, ideas are trivial

compared with their execution

The IdeaThe Idea

Prepare a short executive summary

presenting your vision

The IdeaThe Idea

Don’t expect to raise $1M with a shitty paper written in bad Ingleesh

The IdeaThe Idea

Challenge yourself by picking a goal that will

stretch your capabilities and determination to

their limit

The IdeaThe Idea

If you are 100% certain it can be done, you are

probably not far enough ahead of the competition

The IdeaThe Idea

Make sure that your startup is not built over

a loop hole

THE TEAMTHE TEAM

44

The TeamThe Team

Startups cannot afford any spare heads

(Lean & Mean)

The TeamThe Team

If someone doesn't deliver, let them go

The TeamThe Team

Recruit the core people on a trust basis

The TeamThe Team

Don't hire good developers

The TeamThe Team

Aim for a positive and

optimistic team (You cannot afford more then

one downer)

EXECUTIONEXECUTION

55

ExecutionExecution

Never Under Estimate the Power Of Denial

ExecutionExecution

Be, and stay involved

ExecutionExecution

Do not work around the clock – You end up waking

the following morning with the same ideas you

had the day before..

ExecutionExecution

“Brick walls are there to stop the people who don’t want it badly

enough”(Randy Pauch)

ExecutionExecution

Work like you're a startup, design like

you're Microsoft

ExecutionExecution

Use best-of-breed tools, do not reinvent the

wheel

ExecutionExecution

Invest in proper framework, it pays for itself down the road

ExecutionExecution

Be dynamic, re-factor and rewrite!

ExecutionExecution

Think minimal

ExecutionExecution

Perfection is achieved, not when there is nothing

more to add, but when there is nothing left to

take away. (Antoine de Saint-Exupery)

ExecutionExecution

Beware of minimal

ExecutionExecution

Study your competition and adjust your product in order to beat them in

every aspect

ExecutionExecution

Talk to potential customers from day 1

ExecutionExecution

Technological crisis is part of the game. When

overcoming it, it is called IP.

ExecutionExecution

Accept the fact that uncertainty, doubt and

anxiety will dog you

BUSINESS PLAN & FINANCEBUSINESS PLAN & FINANCE

66

Finance & Business PlanFinance & Business Plan

Plan everything. Review it with a lot of people

Finance & Business PlanFinance & Business Plan

Before you refuse funding – think thrice

Finance & Business PlanFinance & Business Plan

Currency – Plan for the worst

(Unimaginable but… 1 USD might worth less than 4 shekels one day!!)

Finance & Business PlanFinance & Business Plan

Always pay attention to the fuel gauge

LEGALLEGAL

77

LegalLegal

Think of the legal aspects of your startup – There are many illegal

ways to make money(If you are interested talk to me after the presentation)

LegalLegal

Think of the legal aspects of your startup – There are many illegal

ways to make money(If you are interested talk to me after the presentation)

INSIGHTSINSIGHTS

88

General Startup InsightGeneral Startup Insight

Startup has no memory

General Startup InsightGeneral Startup Insight

Startup valuation is fluid

General Startup InsightGeneral Startup Insight

Find your gurus(I am available)

General Startup InsightGeneral Startup Insight

Beware of name droppers

Last Slide….Last Slide….

Take it easy!Hysteria makes you act

stupid

Thanks!