Blake pki talk nov20
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Transcript of Blake pki talk nov20
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My Startup Stories
Adrian BlakeSocial Media Contractors
November 19, 2013
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What is a Startup?
• “A startup is a temporary organization designed to search for a repeatable and scalable business model”– Steve Blank
• “Entrepreneurship is the pursuit of opportunity beyond resources controlled.” – Howard Stevenson, HBS
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Four Kinds of Risk
• Demand Risk– Does anybody want this?• Technology Risk– Can this actually be built?• Execution Risk– Can we actually deliver?• Financing Risk– Can I get it funded?
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Where I’m Coming From
• Education• Television Business• Management Consulting• Turnaround/Publishing• Startups
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Things I Learned Along the Way
• How to tie a bow tie• Smarts are overrated
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Things I Learned Along the Way
• How to tie a bow tie• Smarts are overrated• One Size Never Fits All• Sales drives everything• It’s about customer, not
you
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Things I Learned Along the Way
• How to tie a bow tie• Smarts are overrated• One Size Never Fits All• Sales drives everything• It’s about customer, not
you• Know what’s on your
boss’ agenda• Big organizations move
slowly
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Things I Learned Along the Way
• How to tie a bow tie• Smarts are overrated• One Size Never Fits All• Sales drives everything• It’s about customer, not
you• Know what’s on your
boss’ agenda• Big organizations move
slowly
• A Business Solves a Problem
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Things I Learned Along the Way
• How to tie a bow tie• Smarts are overrated• One Size Never Fits All• Sales drives everything• It’s about customer, not
you• Know what’s on your
boss’ agenda• Big organizations move
slowly
• A Business Solves a Problem
• High standards help• Frameworks help• Smart people help
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Things I Learned Along the Way
• How to tie a bow tie• Smarts are overrated• One Size Never Fits All• Sales drives everything• It’s about customer, not
you• Know what’s on your
boss’ agenda• Big organizations move
slowly
• A Business Solves a Problem• High standards help• Frameworks help• Smart people help• You can learn anything if you
shut up and listen• Sales, sales, sales• 3 Steps to Turnaround: Stop
doing stupid things, start doing smart things, change the people
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TownCommons: Wikipedia for Omaha
Category AssessmentDemand Risk • High for readers
• High for AdvertisersTechnical Risk • LowExecution Risk • MediumFinancing Risk • MediumMarket • BadTeam • MediumIdea • Medium
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TownCommons: Key Issues
• Business– Can we get the advertisers?– Are there enough events to get granular in our
segmentation (outdoors v runners)?– Can we do this in other markets?
• Personal– Can I do this while in a custody fight?
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Mobile Green: SMS for Health CareCategory AssessmentDemand Risk • Medium for patients
• Medium for Providers and InsurersTechnical Risk • MediumExecution Risk • HighFinancing Risk • MediumMarket • GoodTeam • MediumIdea • Good
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Mobile Green: Key Issues
• Business– Can we get a provider to actually test it before we run
out of money?– Can we get an insurer to commit before we run out of
money?– Do patients care?– Can we execute with a two-person geographically
remote team?• Personal– Can I do this while my father is dying?
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SMC: Outsourced Social MediaCategory AssessmentDemand Risk • Medium– some will do themselves,
others avoid itTechnical Risk • LowExecution Risk • Medium– How to be distinctiveFinancing Risk • LowMarket • Medium– Growing fast, but no barriers
to entryTeam • MediumIdea • Medium
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SMC: Key Issues
• Business– Can we reliably get and close leads?– Can we offer distinctive service?– Can we work with partner agencies?– Can we attract and close leads from outside
Omaha?– Can we execute with two very different leaders?
• Personal– Can I do this while working mommy-track hours?
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SMC: Three Horizons
Omaha
Partners
National/ Direct
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Takeaways
• A Business solves a problem. Small problem = small business
• Sales fixes everything• Overhead is fatal• Customers = 10x the scene• Fundraising = Enterprise Sales = Massive Time Sink;
Bootstrapping = Freedom• Avoid distractions. Don’t worry about Mastercraft,
SPN, and Silicon Valley; worry about your customers, your investors, and your team
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Follow these guys
• Mark Suster• Steve Blank• Eric Ries• Hunter Walk• Andrew Chen
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Good to Great
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The Four Steps to the Epiphany
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Man’s Search for Meaning
1.Search for Meaning
2.Commitment to Intellectual Integrity
3.Ability to Improvise
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Q & A
• Ask me anything• I will keep questions in confidence; please
keep answers in confidence
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Thank You
• Blog.socialmediacontractors.com• @adrianblake