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Oh Dear God Not Again! Gobi Capital @ Georgian College
1. Oh Dear God Not Again!
Another Boring
Presentation
By Scotty Thom
Creation, Life, Death,
The Undead
2. Who the hell are you?
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Scotty Thom
Failure, Sinner, Smelly
Piss Poor Sorry Excuse For A Man
Tinkerer, Writer, Dreamer
14 years as an entrepreneur
3,250 entrepreneurs helped
I see dead people.
3. What gives you the right to talk to us?
• 6 companies Founded or Co-Founded
• Gobi Capital since 2009
– Hotels, resorts, tech, service, green tech
– Reviewed 500+ business plans and support docs
• Education: University of Guelph (BA Econ),
Helsinki Univeristy of Technology (IBLP)
• Habitatation: Helsink, Finland | Sendai, Japan
| Guelph, Waterloo, Toronto, Canada
Well maybe not dead people.
4. So what?
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10,000 hours to master something (Malcolm G.!)
26,000 hours if I worked 9am-5pm M-F
52,000 hours approximately since 2000
Barrie & Toronto Open Coffee Club, 10
Startups.com, CoFounder’s Lab (Canada)
This is all I do:
Startups & Growth
More like dead things.
5. If you’re such a big sh*t, why are you
here?
When I was 18 and getting started, someone
helped me.
I’m here for the one person in this room who
gives a f*ck and wants to change the world.
And goth.
6. Now onto the good stuff
• The Start
– An idea; preferably a good one
– What makes a good idea?
• Meet Philo. We’re going to wax with her.
– Prototype
– Beta
– Commercialize
I see gothpreneurs.
7. If We Have Time
• The Middle
– Pre-Sales
– Sales
– Marketing
– Creating A Cycle
– Post-Sales
• The Finish
– Exit stage left
So I guess you could say I see dead things and gothpreneurs.
8. It had better be good
So what makes a good idea?
Yard Stick
Box Of Possibilities
Current Psychology, Thinking, Rationale
A Focus
An Ability To See Opportunity
And I want to see more!
Your Idea
13. What If…
Worst case scenario is worse than expected?
Your possible acquirer decides to become a competitor?
Co-founder going through a divorce?
Startups become unsexy?
Assumptions were wrong?
Massive systemic power failure?
No organic growth?
Everyone says no?
Buying behaviour changes?
(then you have a sad sack of sorries)
14. Current Psychology
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What are the behaviours of potential clients?
What are the trends in the market segment?
Why does your client exist?
For any factoid on your client, ask yourself –
“What does this mean?”
• Continue to ask the question – “What is
missing?”
Today is day 942.
15. Ability To Focus
• Ability to say no
– Terrible Two’s
– “You’re doing some cool sh*t, but that’s not for
me right now.”
• Knowing your end game
• Grounded values / Having a yard stick
• FTW! Success!
941 days to go…
16. How Do You See Opportunity?
• Determined by experience
– Failure
– Tests
– Hypothesize
– Series of assumptions to guide you
• External Reinforcement
– Positive is good
– Negative tends to be more effective when younger
17. Prototype
• Write It Out!
– Does it make sense?
– Can you easily explain all of it to your Mother?
• Do the work. Stop planning, start doing.
– Try existing solutions
– Talk to potential clients (Alpha clients)
• Paper It Up!
– Wireframe, develop it, code it
– Build the tech / service offering / etc
18. Addendum on Prototypes
• Build – Test
– Paper / code is good to start
– Then test it!
– Repeat process – Build – Test –Build – Test
• Test with who?
– Clients!
• 10 Alpha clients
• 40 Beta clients
• Methodology – small failures, quick failures
20. Take A Step Back
• Hit on the following points
– Your plan has probably changed
– The market has probably changed
– Consumer / business sentiment has prob changed
– Everything may have changed
• Go back to the drawing board and ensure your
assumptions and hypothesis are still correct
21. The Middle
• You now have a product or service. Congrats!
• You will have alpha and beta clients.
• How do you leverage everything you have to
get traction in the marketplace?
Traction = Sales
Nothing happens until somebody sells something.
That somebody is you and everyone in your org.
22. • Pre-sales process
• Sales Process
• Post-sales process
A few authors for you to tap into:
• Jeffrey Fox
• Zig Ziglar
• Tom Hopkins
• Timothy Ferriss
• Seth Godin
• “Strategic Selling”
• Marketing
• “SPIN Selling”
But I’ve never had to sell anything…