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ACCELERATEDSTARTUPA.K.A.DON’TBEAF***INGWANTREPRENEUR
VITALYM.GOLOMB
@VITALYG MAY13th,2015
VITALYM.GOLOMB//SANFRANCISCO&THEWORLD
golomb.net // @vitalyg
✓ BORNINUKRAINE,GREWUPINCUPERTINO-STARTUPSSINCEAGEOF13
✓ SPEAKER&MENTORIN20+COUNTRIESANNUALLY
✓ FOUNDEDDESIGNFIRMINUSANDEUROPE
✓ FOUNDEDKEENSYSTEMS-ECOMMERCEFOR$700BPRINTINDUSTRY
✓ EXECUTIVEPRODUCER“STARTUPADDVENTURE”EVENTS
✓ CO-FOUNDEDCCCSTARTUPSTOFUNDTOPEMEASTARTUPS
✓ DEGREEINCOMPUTERANDVIDEOIMAGING
✓ GUESTLECTUREDATSTANFORD,UCBERKELEY,ANDOTHERS
✓ CONTRIBUTEDARTICLESTOTECHCRUNCHANDOTHERS
✓ PUBLISHING“ACCELERATEDSTARTUP”IN2015
✓ DIRECTEDDOCUMENTARY“STARTUPSPRING”-FALL2015
LOCAL MARKETPLACE FOR
ANYTHING PRINTED
www.printmo.co
www.keenprint.com
www.startupaddventure.co
FROMSILICONVALLEYTOTHEWORLD
“TheTEDofStartups”
www.cccstartups.com
@cccstartups
UNLOCKINGGEOGRAPHIES
ENABLINGEXCEPTIONALFOUNDERS
corporate
people
startup
people
! expertsinonearea
! yearsclimbingladder
! stablelifestyle
! realresponsibilities
! lifebalance
! generalists
! earlystart
! cheaplifestyle
! nothingtolose
! nothingelsematters
Accelerated Startup - #Idea-to-IPO
SOWHATTHEF***
ISASTARTUP?
ASTARTUPIS...
anexperimentinsearch
ofabusinessmodel-steveblank
SCALABLE

STARTUP TRANSITION COMPANY
businessmodelfound
product/marketfit
repeatablesalesmodel
managershired
break-even
profitable
rapidscale
newseniormanagement
~150people
“astartupisnotasmaller
versionofalargecompany”-steveblank
ASTARTUPISACOMPANY
THATISCONFUSEDABOUT:
1.WHATITSPRODUCTIS,
2.WHOITSCUSTOMERSARE,
3.HOWTOMAKEMONEY
-DAVEMCCLURE
“ASTARTUP’SDEFAULT
STATEIS#FAILURE.ASA
FOUNDER,YOUHAVETO
WORKTOUNFAILIT.”
-VITALYM.GOLOMB
whywouldyouwantto
startacompany?
getgoodgrades
gotoagoodcollege
getinagoodcompany
getregularpromotions
retire,playgolf,die
normalcareer
startupcareer
ifsuccessful
whatpeoplethink
itlookslike
whatitreally
lookslike
entrepreneurship
isamentaldisorder
butittakesa
littlecrazy...
tochange
theworld
so,whyareyoudoingit?
forthe
money?
fortheIPOmoney?
50
100
150
200
250
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
numberoftech
ipossince1999
26
<50
fundedstartup
successrate
30%fail
30%
unprofitable
30%
somewhat
profitable
10%big
success
BYTHEWAY...
#FAILUREIN
STARTUPSIS
OVERGLORIFIED
FAILUREIS
ahardlesson
1sttimefounder18%
repeatfailedfounder20%
repeatsuccessfulfounder30%
theoddsareagainstyou
you’llgetacquiredif
youareluckyandgood
freedom?
normaljob:
oneboss
startup:
everyuser
isyourboss
haveafamily?
theywillsuffer
“asastartupceo,islept
likeababy. iwokeup
every2hoursandcried.”
-benhorowitz
feeling
defeated
yet?
ALESSONINTEAMMORALE
jess lee - “why startup founders are always unhappy”
goodnews:
youcanimprove
yourchances
findaproblem
youcan’tlive
without
solving
don’tbuildtechnology
lookingforaproblemtosolve
solveapainfulproblem
whatisallthisleanbullshit?
lean=quickiterations
morechancesto
solvetheproblem
morechancesto#unfail
sowhat’sagoodstartup?
firstthingsfirst
NOTHINGMATTERS
MORETHANTRACTION
solvesapainfulproblem
foraspecificcustomer
howcanyoubesure
you’resolvingaproblem?
HOWISITCURRENTLY
BEINGSOLVED?
nocompetitors
=
noproblem
=
nomarket
stopcoding
getoutofthebuilding
talktoyourcustomers
faceyourfears
validateassumptions
HOWAREYOUDIFFERENT
ANDBETTER?
HARD?EXPENSIVE?SUCKS?
F’IN
ARISINGTIDE
LIFTSALLBOATS
what’syourbusinessmodel?
symmetric
customerpays
forexperience
asymmetric
3rdpartypays
forcustomer
DOESITscale?
$2,000,000
$4,000,000
$6,000,000
$8,000,000
Craigslist Apple Facebook Google Amazon McDonalds
revenueperemployee$7.4M
$1.87M
$1.23M$1.24M
$578K >$15K
don’tforget:
youarebuildinga
repeatablebusiness
measureeverything
internet-driven
customeracquisition
mainingredient:team
hiringishard
" much money
" stability
" support structure
" a long-term plan
! stock
! flexibility
! chance to make
a difference
whatyou
don’thave
whatyou
dohave
BUSINESSwithdomainexpertise
DESIGN ENGINEERING
balancedstartupteam
whatisyour
unfairadvantage?
ACCOMPLISHMENTS
MONEYRAISED?
PARTNERSHIPS?
GROWTH?
ITISEASIERTOSTARTUP
ANYWHERENOWTHENIN
SILICONVALLEYIN1999
Accelerated Startup - #Idea-to-IPO
thenewtools
ofthetrade
VENTURE
CAPITAL
ISCHANGING
SEEDSELLADREAMSERIESABETTERHAVETRACTION
SOURCE: STEVE BLANK
SOURCE: SEED DB
MEDIANEXIT=$20M
BONUSRAPIDFIRESURVIVALTIPS
THEONLYTHINGTHATCANPREPAREYOUTO
RUNASTARTUPISTOWORKINASTARTUP
PICKYOURCONFOUNDERSCAREFULLY,TEAM
BREAKUPSAREHARDERTHANDIVORCES
YOUCAN’TOUTSOURCEYOURCORE
COMPETENCY-YOUMUSTBEABLETO
DESIGN,BUILD,ANDMARKET
YOURCHANCESOFSUCCESSARESMALL
GOFORBIGANDGROWINGMARKETS
DON’TCONFUSEANIDEAOR
TECHNOLOGYWITHABUSINESS
DON’TFALLINLOVEWITHYOURPRODUCT
THATISYOURCUSTOMERS’JOB
DON’TIMITATECOMPETITION
TALKTOYOURCUSTOMERSINSTEAD
MOVEFASTORDIE.DON’TDELAYLAUNCHING
YOURPRODUCTWILLNEVERBEPERFECT
“EVERYONE”ISNOTATARGETMARKET
PICKACUSTOMER,SOLVETHEIRPROBLEM
KEEPITSIMPLEANDDON’TOVERBUILD
YOUAREPROBABLYDEFINITELYWRONG
DOUNSCALABLETHINGSTOPROVETHERE
ISABUSINESS-SCALEONLYAFTERTHAT
DON’TSPENDMONEYONANYTHINGTHAT’S
NOTRELATEDTOGETTINGCUSTOMERS
BEFOREACHIEVINGPRODUCT-MARKETFIT
DON’TCUTCORNERSONYOURBUSINESS
USECONTRACTS,PROPERACCOUNTING
HIRESLOW,FIREFAST-NEVERHIRELOSERS
“GOINGVIRAL”ISNOTABUSINESSPLAN
SETASIDEMONEYFORMARKETING
DON’TTAKESET-BACKSPERSONALLY
GETUSEDTOHEARING“NO”
NOONEWILLSTEALYOURSTUPIDIDEA
TALKABOUTITANDGETFREEADVICE
DEVELOPAVISIONANDFOCUS
DON’TTURNINTOACONSULTINGCOMPANY
CHASECUSTOMERS,NOTINVESTORS
DON’TRELYONADVISORS,MENTORS,
ORPARTNERSTOBUILDYOURBUSINESS
KNOWWHENTOSTOPSOCIALIZING
ANDGOINGTOEVENTS-GETTOWORK
unlessofcourseyouare
comingtooneofour’s
COMINGIN2015
download
1STCHAPTER
FOUNDERCO.COM
want theSE slides?
FOLLOW @VITALYG

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