Startup SF: Give Your Ideas Ex-Lax!
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Transcript of Startup SF: Give Your Ideas Ex-Lax!
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Give Your Ideas
David Weekly @ StartUp SF: December 2, 2009
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“But I’m Not Ready!”
(You never are!)
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Your Problem Is Your Skill.
You have a lot of vision.That’s why you’re starting a company.
You have a comprehensive ideaof what you want to build.
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And It’s Awesome.
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The Model In Your Head
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But Magic is Hard.
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“Now If Only….…I could find a technical co-founder”
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“Now If Only….…I could find a technical co-founder”
What can YOU do, with YOUR skill and yourresources, in the next 48 hours?
Can you make a mailing list?A wiki page with some info?A Google Form -> Spreadsheet?
Can you pay $10 to advertise on Google for potential customers to talk with?
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It’s Okay To Start Simple.
Solve someone’s problem right now.
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Minimum Viable Product
“The Minimum Viable Product is the product with just the necessary features to get money and feedback from early adopters.”
Eric Ries - http://www.startuplessonslearned.com/
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Ship now,
you’ll learn faster what you did wrong.
(And it’s not what you think.)
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“…But It’ll Be Ugly!”
(Yep. Deal.)
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“…But My Dream is So Much More!”
(You’ll get there, but start now.)
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Good News!
• The only real expense you’ll have starting this thing up is feeding yourself.
• You’ll learn a lot trying to juggle all these balls.
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Bad News: Fewer “Lottery Tickets”
• IPO market is close enough to dead.• These guys are >$10m/quarter:
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Good News: M&A Is Up
• But…– You’ll need to either build a compelling
technology• Or a compelling market
– Or both.
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Bad News: VC Expectations
• Investment firms will now expect you to have a team, a product, customers, and a provable revenue engine before they’re hungry to talk.– (These rules are excepted if you’re famous.)
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Your Best Plan: Rapid Profitability
• If you are earning your salary, you’re master of your destiny.
• So shoot to make money immediately.
• (Use PayPal, mailed checks, anything.)
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GOOD NEWS!
You already have everything you need to make a first step.
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So