Presentation by Steven Cox, CEO of TakeLessons on 5 tips for new entrepreneurs presented at the San Diego Young Entrepreneurs May 2009 meeting / StartupCircle.com.

1. 5 Tips for Budding Entrepreneurs Steven Cox, CEO TakeLessons.com

2. About TakeLessons.com Mission : To Inspire an Entire Generation Through Music “ Jump In, Rock Out!” - Private lessons, school programs One of America’s largest - footprint in over 2,800 USA cities Started in 2005 by Internet nerds and musicians Software to deploy thousands of instructors, manage all scheduling, billing Software for students to manage their lessons BHAG: “The Starbucks of Music Lessons”

3. 1. Plan on a long journey The “quick hit” is the exception… Pick something you’re passionate about.

4. 2. Have confidence in your ideas and your abilities but…

5. D on’t believe your own hype. Don’t let optimism overpower realism. Admit what isn’t working. Measure everything. Fail fast.

7. 3. Build a Team Share the Vision Hire Smart, Passionate People Build the Culture

8. 4. C apital: raise enough to allow you to make mistakes. B ut not so much that it makes you cocky/lazy. Your forecasts will be off. Stuff you try won’t work. Competitors won’t sit idle. “ Perfection is the enemy of good enough…”

9. Finally… #5 Know what you’re shooting for. The 4-hour workweek? Complete horseshit. Want to build sustainability? Work half a day. Either the first 12 hours, or the second 12 hours. … and remember…

10. 50% of the fuel is used just getting off the ground. Resolve to do what it takes to get off the ground!

11. Stay in touch: Twitter.com/steven_cox Blog: StevenCox.com Search “Steven Cox” in San Diego TakeLessons FB Page: TakeLessons.com/facebook TakeLessons.com/steven