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StartupDay 2011 Speech - The Stuff Nobody Talks About
- 1. The shit that no one talks about @MarcNager Sunday, September 18, 2011
- 2. A few things first... Sunday, September 18, 2011
- 3. Define Startup People 2x Idea = Startup Note: Enterprise = Business Model (Startup) > 0$ Sunday, September 18, 2011
- 4. What comes first, the team or the idea? Your Idea Team Idea Sunday, September 18, 2011
- 5. Validation Who’s problem are you solving? Sunday, September 18, 2011
- 6. It’s not all about $$ Funding ≠ Success Only 16 percent of the fastest-growing and most successful companies in the US had venture financing Sunday, September 18, 2011
- 7. Do you have full Commitment? diff btw. co-founder and an employee “...oh yeah, i have a developer working for me.” Sunday, September 18, 2011
- 8. Have all of these? Team Validation Commitment Let’s go.... Sunday, September 18, 2011
- 9. Welcome to the Real World Sunday, September 18, 2011
- 10. Startup101 A few things to not F-up 1. Work/Life Balance 2. Company Culture 3. Mentors 4. Legal 5. Accounting Sunday, September 18, 2011
- 11. Work/Life Balance Working long hours doesn’t mean you are working smart Sunday, September 18, 2011
- 12. Culture Sunday, September 18, 2011
- 13. Sunday, September 18, 2011
- 14. Sunday, September 18, 2011
- 15. Advisors/Mentors The early believers 1. Find people that care 2. Be strategic 3. Bad advice can kill you 4.Your job isn’t to impress them Sunday, September 18, 2011
- 16. Legal 1. “Don’t incorporate a hobby” 2. No lawyer should charge for advice 3.You get what you pay for 4. Don’t Sign NDAs Sunday, September 18, 2011
- 17. Founders Documents 1.You need a lawyer 2. Keep it simple 3.You MUST have an operating agreement Sunday, September 18, 2011
- 18. Structure 3 Main Types: LLC, S-Corp, C-Corp LLC/S-Corp - If you WILL NOT take funding C-Corp - If you WILL take funding ~$2,500 for basic filings Build a relationship.You will need them again. Sunday, September 18, 2011
- 19. Accounting Money is never an easy topic... Sunday, September 18, 2011
- 20. Accounting Do-s 1. Know your REAL burn rate 2. An annual budget 3. Accounting System 4. Know your runway Sunday, September 18, 2011
- 21. Accounting Don’t-s 1. Operate on a CASH basis 2. Use your personal accounts 3. Fall behind 4. Hire a FT person until economics of time make sense Sunday, September 18, 2011
- 22. QuickBooks up and running Sunday, September 18, 2011
- 23. Documentation Sunday, September 18, 2011
- 24. Taxes & Filings SOOO MANY! State, City, Federal, other... DON’T BE LATE! Make a system of reminders Put it on the wall! Sunday, September 18, 2011
- 25. Other things... Practice your pitch! Assume you suck You will have shitty days Track the metrics that matter Don’t talk to all the big guys first Act bigger than you are Sunday, September 18, 2011
- 26. At the end of the day... Pivot Steal th Sunday, September 18, 2011
- 27. The people that matter will judge you by what you do, not by what you talk about Sunday, September 18, 2011