SlideShare a Scribd company logo
1 of 95
Download to read offline
Anatomy of
    a fundable startup
            Naval Ravikant
       Venture Hacks / AngelList




✌
               angel.co
Anatomy of
an unfundable startup
          Naval Ravikant
     Venture Hacks / AngelList




✌
             angel.co
Anatomy of a (un)fundable startup
Anatomy of a (un)fundable startup
Anatomy of a (un)fundable startup
Exceptional Fundings
Exceptional Outcomes

    LinkedIn
    Pandora
   Facebook




               You are here
The Age of Free Leverage
The Age of Free Leverage
 • Capital, Labor, Machines
The Age of Free Leverage
 • Capital, Labor, Machines
 • Intellectual “Property” - Code, Books,
   Movies, Music
The Age of Free Leverage
 • Capital, Labor, Machines
 • Intellectual “Property” - Code, Books,
   Movies, Music
 • IP Platforms (iOS, S3, LAMP, FB Connect)
The Age of Free Leverage
 • Capital, Labor, Machines
 • Intellectual “Property” - Code, Books,
   Movies, Music
 • IP Platforms (iOS, S3, LAMP, FB Connect)
 • Labor Platforms - Mech Turk, Communities
   (YouTube, Quora, Wikipedia)
The Age of Free Leverage
 • Capital, Labor, Machines
 • Intellectual “Property” - Code, Books,
   Movies, Music
 • IP Platforms (iOS, S3, LAMP, FB Connect)
 • Labor Platforms - Mech Turk, Communities
   (YouTube, Quora, Wikipedia)
 • Capital Platforms (AngelList, KickStarter,
   SecondMarket,YC, TechStars)
Anatomy of a (un)fundable startup
Traction
Traction
  You
Traction
  You
 Product
Traction
    You
 Product
 Social Proof
Traction
    You
 Product
 Social Proof
    Market
Traction
     You
 Product
 Social Proof
      Market
  High Concept Pitch
Traction
     You
 Product
 Social Proof
      Market
  High Concept Pitch

      Elevator Pitch
Traction
     You
 Product
 Social Proof
      Market
  High Concept Pitch

      Elevator Pitch


      Presentation
A Note on Location
A Note on Location

• Silicon Valley, New York
A Note on Location

• Silicon Valley, New York
• Seattle, Austin, LA, Boston, Chicago, London
A Note on Location

• Silicon Valley, New York
• Seattle, Austin, LA, Boston, Chicago, London
• Estonia, Chile, India, Croatia, Poland
A Note on Location

• Silicon Valley, New York
• Seattle, Austin, LA, Boston, Chicago, London
• Estonia, Chile, India, Croatia, Poland
• Capital is mobile, but capitalists are lazy
A Note on Location

• Silicon Valley, New York
• Seattle, Austin, LA, Boston, Chicago, London
• Estonia, Chile, India, Croatia, Poland
• Capital is mobile, but capitalists are lazy
• Funding markets develop backwards
Markets and
Approaches
Markets and
              Approaches
• Services, multiple products
Markets and
              Approaches
• Services, multiple products
• Small Markets (obviously)
Markets and
             Approaches
• Services, multiple products
• Small Markets (obviously)
• Desktop software / Dead Platforms
Markets and
             Approaches
• Services, multiple products
• Small Markets (obviously)
• Desktop software / Dead Platforms
• Conquered Markets with Network Effects
Markets and
             Approaches
• Services, multiple products
• Small Markets (obviously)
• Desktop software / Dead Platforms
• Conquered Markets with Network Effects
• High atom content
Markets and
             Approaches
• Services, multiple products
• Small Markets (obviously)
• Desktop software / Dead Platforms
• Conquered Markets with Network Effects
• High atom content
• Not too large, not too small
Team?
Team?
•   “Functional visionary and project manager”
Team?
•   “Functional visionary and project manager”

•   “I have no ego. Currently my role is visionary / strategist”
Team?
•   “Functional visionary and project manager”

•   “I have no ego. Currently my role is visionary / strategist”

•   Outsourced development, business-heavy
Team?
•   “Functional visionary and project manager”

•   “I have no ego. Currently my role is visionary / strategist”

•   Outsourced development, business-heavy

•   Sole founder
Team?
•   “Functional visionary and project manager”

•   “I have no ego. Currently my role is visionary / strategist”

•   Outsourced development, business-heavy

•   Sole founder

•   Part-timers
Team?
•   “Functional visionary and project manager”

•   “I have no ego. Currently my role is visionary / strategist”

•   Outsourced development, business-heavy

•   Sole founder

•   Part-timers

•   “High Tech Sales Exec who loves his family and loves to run”
Team?
•   “Functional visionary and project manager”

•   “I have no ego. Currently my role is visionary / strategist”

•   Outsourced development, business-heavy

•   Sole founder

•   Part-timers

•   “High Tech Sales Exec who loves his family and loves to run”

•   12 years experience in...
Exceptional Team
Exceptional Team
Exceptional Team
Exceptional Team
Team Guidelines
Team Guidelines
• No adjectives / opinions of yourself
Team Guidelines
• No adjectives / opinions of yourself
• Show, not tell
Team Guidelines
• No adjectives / opinions of yourself
• Show, not tell
• Quantitative and precise, not qualitative and
  vague
Team Guidelines
• No adjectives / opinions of yourself
• Show, not tell
• Quantitative and precise, not qualitative and
  vague
• Branded or measurable output
Team Guidelines
• No adjectives / opinions of yourself
• Show, not tell
• Quantitative and precise, not qualitative and
  vague
• Branded or measurable output
• Recruit only the best. And if you can’t,
  you’re not ready
Product?
Product?

•   “We will disclose more under NDA”
Product?

•   “We will disclose more under NDA”

•   “I am raising money to build the product”
Product?

•   “We will disclose more under NDA”

•   “I am raising money to build the product”

•   “Launching next month”
Product?

•   “We will disclose more under NDA”

•   “I am raising money to build the product”

•   “Launching next month”

•   “Sign up for the beta here...”
Product?

•   “We will disclose more under NDA”

•   “I am raising money to build the product”

•   “Launching next month”

•   “Sign up for the beta here...”

•   “Building second version now”
Exceptional Product
Exceptional Product
Product Guidelines
Product Guidelines
• No promises / vision
Product Guidelines
• No promises / vision
• Show, not tell
Product Guidelines
• No promises / vision
• Show, not tell
• Quantitative and precise, not qualitative and
  vague
Product Guidelines
• No promises / vision
• Show, not tell
• Quantitative and precise, not qualitative and
  vague
• Something hard with specific knowledge
Product Guidelines
• No promises / vision
• Show, not tell
• Quantitative and precise, not qualitative and
  vague
• Something hard with specific knowledge
• Expect competition
Product Guidelines
• No promises / vision
• Show, not tell
• Quantitative and precise, not qualitative and
  vague
• Something hard with specific knowledge
• Expect competition
• Build only the best. And if you can’t, you’re
  not ready
Traction
Traction
• Markets are efficient - individuals cannot
  predict traction
Traction
• Markets are efficient - individuals cannot
  predict traction
• Amount varies by product
Traction
• Markets are efficient - individuals cannot
  predict traction
• Amount varies by product
• Incremental not cumulative
Traction
• Markets are efficient - individuals cannot
  predict traction
• Amount varies by product
• Incremental not cumulative
• Know your microeconomics
Traction
• Markets are efficient - individuals cannot
  predict traction
• Amount varies by product
• Incremental not cumulative
• Know your microeconomics
• If you can’t generate traction, do you really
  want to raise money?
Traction
• Markets are efficient - individuals cannot
  predict traction
• Amount varies by product
• Incremental not cumulative
• Know your microeconomics
• If you can’t generate traction, do you really
  want to raise money?
• How much is enough? 10% per month?
  20%?
Social Proof
Social Proof
• “Get referred to us by someone we know”
Social Proof
• “Get referred to us by someone we know”
• Entrepreneurs and committed investors
  best
Social Proof
• “Get referred to us by someone we know”
• Entrepreneurs and committed investors
  best
• Herd mentality is rational
Social Proof
• “Get referred to us by someone we know”
• Entrepreneurs and committed investors
  best
• Herd mentality is rational
• Why? What did they like that you can’t
  show in the other metrics?
Real Hacks
Real Hacks
• Advisory Round (Notable Founder,
  Operator)
Real Hacks
• Advisory Round (Notable Founder,
  Operator)
• Cast a Broad Net, move simultaneously
Real Hacks
• Advisory Round (Notable Founder,
  Operator)
• Cast a Broad Net, move simultaneously
• Easier to pitch a new investor than to
  convert one
Real Hacks
• Advisory Round (Notable Founder,
  Operator)
• Cast a Broad Net, move simultaneously
• Easier to pitch a new investor than to
  convert one
• Equity, not notes
Real Hacks
• Advisory Round (Notable Founder,
  Operator)
• Cast a Broad Net, move simultaneously
• Easier to pitch a new investor than to
  convert one
• Equity, not notes
• Sell an option
Real Hacks
• Advisory Round (Notable Founder,
  Operator)
• Cast a Broad Net, move simultaneously
• Easier to pitch a new investor than to
  convert one
• Equity, not notes
• Sell an option
• But if you’re having a hard time, re-start,
  not push
In Summary
In Summary
• Get to a funding hub
In Summary
• Get to a funding hub
• Recruit an exceptional team.
In Summary
• Get to a funding hub
• Recruit an exceptional team.
• Build something that you are passionate
  and knowledgeable about
In Summary
• Get to a funding hub
• Recruit an exceptional team.
• Build something that you are passionate
  and knowledgeable about
• Test it against customers
In Summary
• Get to a funding hub
• Recruit an exceptional team.
• Build something that you are passionate
  and knowledgeable about
• Test it against customers
• Get social and customer validation
In Summary
• Get to a funding hub
• Recruit an exceptional team.
• Build something that you are passionate
  and knowledgeable about
• Test it against customers
• Get social and customer validation
• Raise on at least one exceptional
  characteristic
In Summary
• Get to a funding hub
• Recruit an exceptional team.
• Build something that you are passionate
  and knowledgeable about
• Test it against customers
• Get social and customer validation
• Raise on at least one exceptional
  characteristic
• PS - Assume fierce competition

More Related Content

What's hot

Tech and Venture Capital in the Time of Corona
Tech and Venture Capital in the Time of Corona Tech and Venture Capital in the Time of Corona
Tech and Venture Capital in the Time of Corona Dave McClure
 
Pitch/Investor Deck Template for Start Ups
Pitch/Investor Deck Template for Start UpsPitch/Investor Deck Template for Start Ups
Pitch/Investor Deck Template for Start UpsDavid Blumenstein
 
Customer Development/Lean Startup 011910 Class 1
Customer Development/Lean Startup 011910 Class 1Customer Development/Lean Startup 011910 Class 1
Customer Development/Lean Startup 011910 Class 1Stanford University
 
Getting to Product Market Fit - An Overview of Customer Discovery & Validation
Getting to Product Market Fit - An Overview of Customer Discovery & ValidationGetting to Product Market Fit - An Overview of Customer Discovery & Validation
Getting to Product Market Fit - An Overview of Customer Discovery & ValidationJason Evanish
 
Pitch Deck-Format-NinzaBiz.com | investment Deck for Fund Raising
Pitch Deck-Format-NinzaBiz.com | investment Deck for Fund RaisingPitch Deck-Format-NinzaBiz.com | investment Deck for Fund Raising
Pitch Deck-Format-NinzaBiz.com | investment Deck for Fund RaisingShibam Sarbswa 🚀
 
The Best Startup Pitchdeck [Updated]
The Best Startup Pitchdeck [Updated] The Best Startup Pitchdeck [Updated]
The Best Startup Pitchdeck [Updated] Vin Lim
 
How to Pitch a VC Redesigned
How to Pitch a VC RedesignedHow to Pitch a VC Redesigned
How to Pitch a VC RedesignedSlides That Rock
 
How to Create a Pitch Deck to Impress Investors?
How to Create a Pitch Deck to Impress Investors?How to Create a Pitch Deck to Impress Investors?
How to Create a Pitch Deck to Impress Investors?SlideTeam
 
Lessons we learned from designing 30+ pitch decks
Lessons we learned from designing 30+ pitch decksLessons we learned from designing 30+ pitch decks
Lessons we learned from designing 30+ pitch decksVisual Hackers
 
Pitch Deck Guide for Arts Entrepreneurs
Pitch Deck Guide for Arts EntrepreneursPitch Deck Guide for Arts Entrepreneurs
Pitch Deck Guide for Arts EntrepreneursLisa Niedermeyer
 
Y Combinator Pitch Deck Template For Startup Founders
Y Combinator Pitch Deck Template For Startup FoundersY Combinator Pitch Deck Template For Startup Founders
Y Combinator Pitch Deck Template For Startup FoundersAA BB
 
Early Stage Startup Valuation
Early Stage Startup ValuationEarly Stage Startup Valuation
Early Stage Startup Valuationstartany
 
Creating An Investor Pitch For Your Startup
Creating An Investor Pitch For Your StartupCreating An Investor Pitch For Your Startup
Creating An Investor Pitch For Your StartupMelissa Fisher, CFE
 
The Ultimate Investor Pitch Deck Template
The Ultimate Investor Pitch Deck TemplateThe Ultimate Investor Pitch Deck Template
The Ultimate Investor Pitch Deck TemplateCrowdfunder
 
10 Slides To An Awesome Pitch By Dave Mcclure
10 Slides To An Awesome Pitch By Dave Mcclure10 Slides To An Awesome Pitch By Dave Mcclure
10 Slides To An Awesome Pitch By Dave Mccluretidaporn_J
 
The Best Startup Investor Pitch Deck & How to Present to Angels & Venture Cap...
The Best Startup Investor Pitch Deck & How to Present to Angels & Venture Cap...The Best Startup Investor Pitch Deck & How to Present to Angels & Venture Cap...
The Best Startup Investor Pitch Deck & How to Present to Angels & Venture Cap...J. Skyler Fernandes
 
Hacking your investor pitch deck
Hacking your investor pitch deck Hacking your investor pitch deck
Hacking your investor pitch deck Cheryl Yeoh
 
SURGE Ventures Series Seed & "A" Fund Pitch Deck
SURGE Ventures Series Seed & "A" Fund Pitch DeckSURGE Ventures Series Seed & "A" Fund Pitch Deck
SURGE Ventures Series Seed & "A" Fund Pitch DeckKirk Coburn Surfing
 

What's hot (20)

Business model arabic material
Business model arabic materialBusiness model arabic material
Business model arabic material
 
Tech and Venture Capital in the Time of Corona
Tech and Venture Capital in the Time of Corona Tech and Venture Capital in the Time of Corona
Tech and Venture Capital in the Time of Corona
 
Pitch/Investor Deck Template for Start Ups
Pitch/Investor Deck Template for Start UpsPitch/Investor Deck Template for Start Ups
Pitch/Investor Deck Template for Start Ups
 
Customer Development/Lean Startup 011910 Class 1
Customer Development/Lean Startup 011910 Class 1Customer Development/Lean Startup 011910 Class 1
Customer Development/Lean Startup 011910 Class 1
 
Getting to Product Market Fit - An Overview of Customer Discovery & Validation
Getting to Product Market Fit - An Overview of Customer Discovery & ValidationGetting to Product Market Fit - An Overview of Customer Discovery & Validation
Getting to Product Market Fit - An Overview of Customer Discovery & Validation
 
Pitch Deck-Format-NinzaBiz.com | investment Deck for Fund Raising
Pitch Deck-Format-NinzaBiz.com | investment Deck for Fund RaisingPitch Deck-Format-NinzaBiz.com | investment Deck for Fund Raising
Pitch Deck-Format-NinzaBiz.com | investment Deck for Fund Raising
 
The Best Startup Pitchdeck [Updated]
The Best Startup Pitchdeck [Updated] The Best Startup Pitchdeck [Updated]
The Best Startup Pitchdeck [Updated]
 
How to Pitch a VC Redesigned
How to Pitch a VC RedesignedHow to Pitch a VC Redesigned
How to Pitch a VC Redesigned
 
How to Create a Pitch Deck to Impress Investors?
How to Create a Pitch Deck to Impress Investors?How to Create a Pitch Deck to Impress Investors?
How to Create a Pitch Deck to Impress Investors?
 
Successful entrepreneurship 1
Successful entrepreneurship 1Successful entrepreneurship 1
Successful entrepreneurship 1
 
Lessons we learned from designing 30+ pitch decks
Lessons we learned from designing 30+ pitch decksLessons we learned from designing 30+ pitch decks
Lessons we learned from designing 30+ pitch decks
 
Pitch Deck Guide for Arts Entrepreneurs
Pitch Deck Guide for Arts EntrepreneursPitch Deck Guide for Arts Entrepreneurs
Pitch Deck Guide for Arts Entrepreneurs
 
Y Combinator Pitch Deck Template For Startup Founders
Y Combinator Pitch Deck Template For Startup FoundersY Combinator Pitch Deck Template For Startup Founders
Y Combinator Pitch Deck Template For Startup Founders
 
Early Stage Startup Valuation
Early Stage Startup ValuationEarly Stage Startup Valuation
Early Stage Startup Valuation
 
Creating An Investor Pitch For Your Startup
Creating An Investor Pitch For Your StartupCreating An Investor Pitch For Your Startup
Creating An Investor Pitch For Your Startup
 
The Ultimate Investor Pitch Deck Template
The Ultimate Investor Pitch Deck TemplateThe Ultimate Investor Pitch Deck Template
The Ultimate Investor Pitch Deck Template
 
10 Slides To An Awesome Pitch By Dave Mcclure
10 Slides To An Awesome Pitch By Dave Mcclure10 Slides To An Awesome Pitch By Dave Mcclure
10 Slides To An Awesome Pitch By Dave Mcclure
 
The Best Startup Investor Pitch Deck & How to Present to Angels & Venture Cap...
The Best Startup Investor Pitch Deck & How to Present to Angels & Venture Cap...The Best Startup Investor Pitch Deck & How to Present to Angels & Venture Cap...
The Best Startup Investor Pitch Deck & How to Present to Angels & Venture Cap...
 
Hacking your investor pitch deck
Hacking your investor pitch deck Hacking your investor pitch deck
Hacking your investor pitch deck
 
SURGE Ventures Series Seed & "A" Fund Pitch Deck
SURGE Ventures Series Seed & "A" Fund Pitch DeckSURGE Ventures Series Seed & "A" Fund Pitch Deck
SURGE Ventures Series Seed & "A" Fund Pitch Deck
 

Viewers also liked

Customer Development 1: Introduction
Customer Development 1: IntroductionCustomer Development 1: Introduction
Customer Development 1: IntroductionVenture Hacks
 
Chapter 10 MKT120 Branding and Pkg
Chapter 10 MKT120 Branding and PkgChapter 10 MKT120 Branding and Pkg
Chapter 10 MKT120 Branding and PkgDeborah Oronzio
 
Chapter 02 MKT120 Strategies and Plan
Chapter 02 MKT120 Strategies and PlanChapter 02 MKT120 Strategies and Plan
Chapter 02 MKT120 Strategies and PlanDeborah Oronzio
 
How to optimize web apps with KISSmetrics
How to optimize web apps with KISSmetricsHow to optimize web apps with KISSmetrics
How to optimize web apps with KISSmetricsVenture Hacks
 
Chapter 18 MKT120 Sales & Sales Mgmt
Chapter 18 MKT120 Sales & Sales MgmtChapter 18 MKT120 Sales & Sales Mgmt
Chapter 18 MKT120 Sales & Sales MgmtDeborah Oronzio
 
Chapter 15 MKT120 Retail
Chapter 15 MKT120 RetailChapter 15 MKT120 Retail
Chapter 15 MKT120 RetailDeborah Oronzio
 
Bodeman personal finance_presentation1-1
Bodeman personal finance_presentation1-1Bodeman personal finance_presentation1-1
Bodeman personal finance_presentation1-1Deborah Oronzio
 
Chapter 14 MKT120 Supply Chain Mgmt.
Chapter 14 MKT120 Supply Chain Mgmt.Chapter 14 MKT120 Supply Chain Mgmt.
Chapter 14 MKT120 Supply Chain Mgmt.Deborah Oronzio
 
VC signaling in seed rounds
VC signaling in seed roundsVC signaling in seed rounds
VC signaling in seed roundsVenture Hacks
 
How to close an angel round
How to close an angel roundHow to close an angel round
How to close an angel roundVenture Hacks
 

Viewers also liked (20)

Customer Development 1: Introduction
Customer Development 1: IntroductionCustomer Development 1: Introduction
Customer Development 1: Introduction
 
Chapter 10 MKT120 Branding and Pkg
Chapter 10 MKT120 Branding and PkgChapter 10 MKT120 Branding and Pkg
Chapter 10 MKT120 Branding and Pkg
 
Chapter 02 MKT120 Strategies and Plan
Chapter 02 MKT120 Strategies and PlanChapter 02 MKT120 Strategies and Plan
Chapter 02 MKT120 Strategies and Plan
 
How to optimize web apps with KISSmetrics
How to optimize web apps with KISSmetricsHow to optimize web apps with KISSmetrics
How to optimize web apps with KISSmetrics
 
Chapter 18 MKT120 Sales & Sales Mgmt
Chapter 18 MKT120 Sales & Sales MgmtChapter 18 MKT120 Sales & Sales Mgmt
Chapter 18 MKT120 Sales & Sales Mgmt
 
Chap005 BUS137
Chap005 BUS137Chap005 BUS137
Chap005 BUS137
 
Personal Finance
Personal FinancePersonal Finance
Personal Finance
 
Chap011 BUS137
Chap011 BUS137Chap011 BUS137
Chap011 BUS137
 
Legal Environment
Legal EnvironmentLegal Environment
Legal Environment
 
Chapter 15 MKT120 Retail
Chapter 15 MKT120 RetailChapter 15 MKT120 Retail
Chapter 15 MKT120 Retail
 
Bodeman personal finance_presentation1-1
Bodeman personal finance_presentation1-1Bodeman personal finance_presentation1-1
Bodeman personal finance_presentation1-1
 
Chapter 14 MKT120 Supply Chain Mgmt.
Chapter 14 MKT120 Supply Chain Mgmt.Chapter 14 MKT120 Supply Chain Mgmt.
Chapter 14 MKT120 Supply Chain Mgmt.
 
VC signaling in seed rounds
VC signaling in seed roundsVC signaling in seed rounds
VC signaling in seed rounds
 
BUS137 Chapter 13
BUS137 Chapter 13BUS137 Chapter 13
BUS137 Chapter 13
 
Chap007 BUS137
Chap007 BUS137Chap007 BUS137
Chap007 BUS137
 
Personal Finance
Personal FinancePersonal Finance
Personal Finance
 
Technology
TechnologyTechnology
Technology
 
Chapter 16 MKT120 IMC
Chapter 16 MKT120 IMCChapter 16 MKT120 IMC
Chapter 16 MKT120 IMC
 
How to close an angel round
How to close an angel roundHow to close an angel round
How to close an angel round
 
BUS137 Chapter 14
BUS137 Chapter 14 BUS137 Chapter 14
BUS137 Chapter 14
 

Similar to Anatomy of a (un)fundable startup

Lean Startup talk at Business Bootcamp, Brunel
Lean Startup talk at Business Bootcamp, BrunelLean Startup talk at Business Bootcamp, Brunel
Lean Startup talk at Business Bootcamp, BrunelDaniel Tenner
 
The Art of Raising Capital for Technology Startup Leaders
The Art of  Raising Capital for Technology Startup Leaders The Art of  Raising Capital for Technology Startup Leaders
The Art of Raising Capital for Technology Startup Leaders Bruce Schechter
 
NCET Special Event | Startup Funding | March 2017
NCET Special Event | Startup Funding | March 2017NCET Special Event | Startup Funding | March 2017
NCET Special Event | Startup Funding | March 2017Dave Archer
 
How to Build Your Business on Wordpress
How to Build Your Business on WordpressHow to Build Your Business on Wordpress
How to Build Your Business on WordpressRichard Martin
 
Money, Process, and Culture- Tech 20/20 June, 2012
Money, Process, and Culture- Tech 20/20 June, 2012Money, Process, and Culture- Tech 20/20 June, 2012
Money, Process, and Culture- Tech 20/20 June, 2012Adrian Carr
 
Show Me The Money - The Ying and Yang of Entrepreneurial Finance
Show Me The Money  - The Ying and Yang of Entrepreneurial FinanceShow Me The Money  - The Ying and Yang of Entrepreneurial Finance
Show Me The Money - The Ying and Yang of Entrepreneurial FinanceJohn Landry
 
Tools For Lean Startup Wizards
Tools For Lean Startup WizardsTools For Lean Startup Wizards
Tools For Lean Startup WizardsPaul Walsh
 
Openfund - How to Apply
Openfund - How to ApplyOpenfund - How to Apply
Openfund - How to ApplyThe Openfund
 
The Invaluable Freelance Flasher
The Invaluable Freelance FlasherThe Invaluable Freelance Flasher
The Invaluable Freelance FlasherDavid Ortinau
 
The new entrepreneurial age
The new entrepreneurial ageThe new entrepreneurial age
The new entrepreneurial ageviviandabu
 
infoShare 2013: Wojciech Seliga - Kariera software developera na poważnie.
infoShare 2013: Wojciech Seliga - Kariera software developera na poważnie.infoShare 2013: Wojciech Seliga - Kariera software developera na poważnie.
infoShare 2013: Wojciech Seliga - Kariera software developera na poważnie.Infoshare
 
Confitura 2013 Software Developer Career Unplugged
Confitura 2013 Software Developer Career UnpluggedConfitura 2013 Software Developer Career Unplugged
Confitura 2013 Software Developer Career UnpluggedWojciech Seliga
 
Presentation to NY Tech Meetup Student Group
Presentation to NY Tech Meetup Student GroupPresentation to NY Tech Meetup Student Group
Presentation to NY Tech Meetup Student GroupSan Kim
 
Marcus schappi
Marcus schappiMarcus schappi
Marcus schappimakezine
 
Emulating Gang Culture to Accelerate In-House SEO
Emulating Gang Culture to Accelerate In-House SEOEmulating Gang Culture to Accelerate In-House SEO
Emulating Gang Culture to Accelerate In-House SEOsimondance
 
Kellogg VC CEO Summit
Kellogg VC CEO SummitKellogg VC CEO Summit
Kellogg VC CEO SummitDave Kellogg
 
The Web is Your Church's New Front Door
The Web is Your Church's New Front DoorThe Web is Your Church's New Front Door
The Web is Your Church's New Front Doorchurchjuice
 
iPhone game development - Joash Chee
iPhone game development - Joash CheeiPhone game development - Joash Chee
iPhone game development - Joash Cheejasonong
 

Similar to Anatomy of a (un)fundable startup (20)

Lean Startup talk at Business Bootcamp, Brunel
Lean Startup talk at Business Bootcamp, BrunelLean Startup talk at Business Bootcamp, Brunel
Lean Startup talk at Business Bootcamp, Brunel
 
The Art of Raising Capital for Technology Startup Leaders
The Art of  Raising Capital for Technology Startup Leaders The Art of  Raising Capital for Technology Startup Leaders
The Art of Raising Capital for Technology Startup Leaders
 
NCET Special Event | Startup Funding | March 2017
NCET Special Event | Startup Funding | March 2017NCET Special Event | Startup Funding | March 2017
NCET Special Event | Startup Funding | March 2017
 
How to Build Your Business on Wordpress
How to Build Your Business on WordpressHow to Build Your Business on Wordpress
How to Build Your Business on Wordpress
 
Money, Process, and Culture- Tech 20/20 June, 2012
Money, Process, and Culture- Tech 20/20 June, 2012Money, Process, and Culture- Tech 20/20 June, 2012
Money, Process, and Culture- Tech 20/20 June, 2012
 
Show Me The Money - The Ying and Yang of Entrepreneurial Finance
Show Me The Money  - The Ying and Yang of Entrepreneurial FinanceShow Me The Money  - The Ying and Yang of Entrepreneurial Finance
Show Me The Money - The Ying and Yang of Entrepreneurial Finance
 
Tools For Lean Startup Wizards
Tools For Lean Startup WizardsTools For Lean Startup Wizards
Tools For Lean Startup Wizards
 
Openfund - How to Apply
Openfund - How to ApplyOpenfund - How to Apply
Openfund - How to Apply
 
The Invaluable Freelance Flasher
The Invaluable Freelance FlasherThe Invaluable Freelance Flasher
The Invaluable Freelance Flasher
 
The new entrepreneurial age
The new entrepreneurial ageThe new entrepreneurial age
The new entrepreneurial age
 
05 roostam vc in israel
05 roostam vc in israel05 roostam vc in israel
05 roostam vc in israel
 
infoShare 2013: Wojciech Seliga - Kariera software developera na poważnie.
infoShare 2013: Wojciech Seliga - Kariera software developera na poważnie.infoShare 2013: Wojciech Seliga - Kariera software developera na poważnie.
infoShare 2013: Wojciech Seliga - Kariera software developera na poważnie.
 
Oc pdf
Oc pdfOc pdf
Oc pdf
 
Confitura 2013 Software Developer Career Unplugged
Confitura 2013 Software Developer Career UnpluggedConfitura 2013 Software Developer Career Unplugged
Confitura 2013 Software Developer Career Unplugged
 
Presentation to NY Tech Meetup Student Group
Presentation to NY Tech Meetup Student GroupPresentation to NY Tech Meetup Student Group
Presentation to NY Tech Meetup Student Group
 
Marcus schappi
Marcus schappiMarcus schappi
Marcus schappi
 
Emulating Gang Culture to Accelerate In-House SEO
Emulating Gang Culture to Accelerate In-House SEOEmulating Gang Culture to Accelerate In-House SEO
Emulating Gang Culture to Accelerate In-House SEO
 
Kellogg VC CEO Summit
Kellogg VC CEO SummitKellogg VC CEO Summit
Kellogg VC CEO Summit
 
The Web is Your Church's New Front Door
The Web is Your Church's New Front DoorThe Web is Your Church's New Front Door
The Web is Your Church's New Front Door
 
iPhone game development - Joash Chee
iPhone game development - Joash CheeiPhone game development - Joash Chee
iPhone game development - Joash Chee
 

More from Venture Hacks

AngelList Press Presentation, Oct 12 2015
AngelList Press Presentation, Oct 12 2015AngelList Press Presentation, Oct 12 2015
AngelList Press Presentation, Oct 12 2015Venture Hacks
 
The rise of the angels
The rise of the angelsThe rise of the angels
The rise of the angelsVenture Hacks
 
Venture Hacks for Kauffman Foundation
Venture Hacks for Kauffman FoundationVenture Hacks for Kauffman Foundation
Venture Hacks for Kauffman FoundationVenture Hacks
 
How to close an angel round - Teaser
How to close an angel round - TeaserHow to close an angel round - Teaser
How to close an angel round - TeaserVenture Hacks
 
How to bring a product to market, Part 2
How to bring a product to market, Part 2How to bring a product to market, Part 2
How to bring a product to market, Part 2Venture Hacks
 
How to measure product-market fit
How to measure product-market fitHow to measure product-market fit
How to measure product-market fitVenture Hacks
 
How to bring a product to market
How to bring a product to marketHow to bring a product to market
How to bring a product to marketVenture Hacks
 
Pitching Hacks Preview
Pitching Hacks PreviewPitching Hacks Preview
Pitching Hacks PreviewVenture Hacks
 
How To Pick A Co Founder (Mini)
How To Pick A Co Founder (Mini)How To Pick A Co Founder (Mini)
How To Pick A Co Founder (Mini)Venture Hacks
 
Pitching Hacks at Stanford
Pitching Hacks at StanfordPitching Hacks at Stanford
Pitching Hacks at StanfordVenture Hacks
 
The Lean Startup at Web 2.0 Expo
The Lean Startup at Web 2.0 ExpoThe Lean Startup at Web 2.0 Expo
The Lean Startup at Web 2.0 ExpoVenture Hacks
 
Customer Development 3: Introduction
Customer Development 3: IntroductionCustomer Development 3: Introduction
Customer Development 3: IntroductionVenture Hacks
 
Customer Development 4: Customer Discovery Part 1
Customer Development 4: Customer Discovery Part 1Customer Development 4: Customer Discovery Part 1
Customer Development 4: Customer Discovery Part 1Venture Hacks
 
Opening board meetings to the entire company
Opening board meetings to the entire companyOpening board meetings to the entire company
Opening board meetings to the entire companyVenture Hacks
 
What Is The Minimum Viable Product?
What Is The Minimum Viable Product?What Is The Minimum Viable Product?
What Is The Minimum Viable Product?Venture Hacks
 
Customer Development Syllabus
Customer Development SyllabusCustomer Development Syllabus
Customer Development SyllabusVenture Hacks
 
Customer Development 2: Three types of markets
Customer Development 2: Three types of marketsCustomer Development 2: Three types of markets
Customer Development 2: Three types of marketsVenture Hacks
 

More from Venture Hacks (20)

AngelList Press Presentation, Oct 12 2015
AngelList Press Presentation, Oct 12 2015AngelList Press Presentation, Oct 12 2015
AngelList Press Presentation, Oct 12 2015
 
The rise of the angels
The rise of the angelsThe rise of the angels
The rise of the angels
 
Venture Hacks for Kauffman Foundation
Venture Hacks for Kauffman FoundationVenture Hacks for Kauffman Foundation
Venture Hacks for Kauffman Foundation
 
How to close an angel round - Teaser
How to close an angel round - TeaserHow to close an angel round - Teaser
How to close an angel round - Teaser
 
Presentation Hacks
Presentation HacksPresentation Hacks
Presentation Hacks
 
How to bring a product to market, Part 2
How to bring a product to market, Part 2How to bring a product to market, Part 2
How to bring a product to market, Part 2
 
How to measure product-market fit
How to measure product-market fitHow to measure product-market fit
How to measure product-market fit
 
How to bring a product to market
How to bring a product to marketHow to bring a product to market
How to bring a product to market
 
Pitching Hacks Preview
Pitching Hacks PreviewPitching Hacks Preview
Pitching Hacks Preview
 
How To Pick A Co Founder (Mini)
How To Pick A Co Founder (Mini)How To Pick A Co Founder (Mini)
How To Pick A Co Founder (Mini)
 
Pitching Hacks at Stanford
Pitching Hacks at StanfordPitching Hacks at Stanford
Pitching Hacks at Stanford
 
The Lean Startup at Web 2.0 Expo
The Lean Startup at Web 2.0 ExpoThe Lean Startup at Web 2.0 Expo
The Lean Startup at Web 2.0 Expo
 
Vertical Markets
Vertical MarketsVertical Markets
Vertical Markets
 
Customer Development 3: Introduction
Customer Development 3: IntroductionCustomer Development 3: Introduction
Customer Development 3: Introduction
 
Customer Development 4: Customer Discovery Part 1
Customer Development 4: Customer Discovery Part 1Customer Development 4: Customer Discovery Part 1
Customer Development 4: Customer Discovery Part 1
 
Opening board meetings to the entire company
Opening board meetings to the entire companyOpening board meetings to the entire company
Opening board meetings to the entire company
 
What Is The Minimum Viable Product?
What Is The Minimum Viable Product?What Is The Minimum Viable Product?
What Is The Minimum Viable Product?
 
Customer Development Syllabus
Customer Development SyllabusCustomer Development Syllabus
Customer Development Syllabus
 
The Lean Startup
The Lean StartupThe Lean Startup
The Lean Startup
 
Customer Development 2: Three types of markets
Customer Development 2: Three types of marketsCustomer Development 2: Three types of markets
Customer Development 2: Three types of markets
 

Recently uploaded

UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGlokeshwarmaha
 
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessQ2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessAPCO
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...Khaled Al Awadi
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003believeminhh
 
Plano de marketing- inglês em formato ppt
Plano de marketing- inglês  em formato pptPlano de marketing- inglês  em formato ppt
Plano de marketing- inglês em formato pptElizangelaSoaresdaCo
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access
 
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdfChicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdfSourav Sikder
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Lviv Startup Club
 
Slicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup BerlinSlicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup BerlinAnton Skornyakov
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursKaiNexus
 
Tata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerakTata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerakEditores1
 
Entrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizationsEntrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizationsP&CO
 
Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarNathanielSchmuck
 
MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentationbaron83
 
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)tazeenaila12
 
Anyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyAnyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyHanna Klim
 
PDT 88 - 4 million seed - Seed - Protecto.pdf
PDT 88 - 4 million seed - Seed - Protecto.pdfPDT 88 - 4 million seed - Seed - Protecto.pdf
PDT 88 - 4 million seed - Seed - Protecto.pdfHajeJanKamps
 

Recently uploaded (20)

UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISINGUNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
UNLEASHING THE POWER OF PROGRAMMATIC ADVERTISING
 
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for BusinessQ2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
Q2 2024 APCO Geopolitical Radar - The Global Operating Environment for Business
 
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...NewBase  25 March  2024  Energy News issue - 1710 by Khaled Al Awadi_compress...
NewBase 25 March 2024 Energy News issue - 1710 by Khaled Al Awadi_compress...
 
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
The Vietnam Believer Newsletter_MARCH 25, 2024_EN_Vol. 003
 
Plano de marketing- inglês em formato ppt
Plano de marketing- inglês  em formato pptPlano de marketing- inglês  em formato ppt
Plano de marketing- inglês em formato ppt
 
Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024Borderless Access - Global Panel book-unlock 2024
Borderless Access - Global Panel book-unlock 2024
 
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdfChicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
Chicago Medical Malpractice Lawyer Chicago Medical Malpractice Lawyer.pdf
 
Investment Opportunity for Thailand's Automotive & EV Industries
Investment Opportunity for Thailand's Automotive & EV IndustriesInvestment Opportunity for Thailand's Automotive & EV Industries
Investment Opportunity for Thailand's Automotive & EV Industries
 
Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024Borderless Access - Global B2B Panel book-unlock 2024
Borderless Access - Global B2B Panel book-unlock 2024
 
WAM Corporate Presentation Mar 25 2024.pdf
WAM Corporate Presentation Mar 25 2024.pdfWAM Corporate Presentation Mar 25 2024.pdf
WAM Corporate Presentation Mar 25 2024.pdf
 
Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)Michael Vidyakin: Introduction to PMO (UA)
Michael Vidyakin: Introduction to PMO (UA)
 
Slicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup BerlinSlicing Work on Business Agility Meetup Berlin
Slicing Work on Business Agility Meetup Berlin
 
Developing Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, OursDeveloping Coaching Skills: Mine, Yours, Ours
Developing Coaching Skills: Mine, Yours, Ours
 
Tata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerakTata Kelola Bisnis perushaan yang bergerak
Tata Kelola Bisnis perushaan yang bergerak
 
Entrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizationsEntrepreneurship & organisations: influences and organizations
Entrepreneurship & organisations: influences and organizations
 
Live-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry WebinarLive-Streaming in the Music Industry Webinar
Live-Streaming in the Music Industry Webinar
 
MoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor PresentationMoneyBridge Pitch Deck - Investor Presentation
MoneyBridge Pitch Deck - Investor Presentation
 
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
Harvard Business Review.pptx | Navigating Labor Unrest (March-April 2024)
 
Anyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agencyAnyhr.io | Presentation HR&Recruiting agency
Anyhr.io | Presentation HR&Recruiting agency
 
PDT 88 - 4 million seed - Seed - Protecto.pdf
PDT 88 - 4 million seed - Seed - Protecto.pdfPDT 88 - 4 million seed - Seed - Protecto.pdf
PDT 88 - 4 million seed - Seed - Protecto.pdf
 

Anatomy of a (un)fundable startup

  • 1. Anatomy of a fundable startup Naval Ravikant Venture Hacks / AngelList ✌ angel.co
  • 2. Anatomy of an unfundable startup Naval Ravikant Venture Hacks / AngelList ✌ angel.co
  • 7. Exceptional Outcomes LinkedIn Pandora Facebook You are here
  • 8. The Age of Free Leverage
  • 9. The Age of Free Leverage • Capital, Labor, Machines
  • 10. The Age of Free Leverage • Capital, Labor, Machines • Intellectual “Property” - Code, Books, Movies, Music
  • 11. The Age of Free Leverage • Capital, Labor, Machines • Intellectual “Property” - Code, Books, Movies, Music • IP Platforms (iOS, S3, LAMP, FB Connect)
  • 12. The Age of Free Leverage • Capital, Labor, Machines • Intellectual “Property” - Code, Books, Movies, Music • IP Platforms (iOS, S3, LAMP, FB Connect) • Labor Platforms - Mech Turk, Communities (YouTube, Quora, Wikipedia)
  • 13. The Age of Free Leverage • Capital, Labor, Machines • Intellectual “Property” - Code, Books, Movies, Music • IP Platforms (iOS, S3, LAMP, FB Connect) • Labor Platforms - Mech Turk, Communities (YouTube, Quora, Wikipedia) • Capital Platforms (AngelList, KickStarter, SecondMarket,YC, TechStars)
  • 17. Traction You Product
  • 18. Traction You Product Social Proof
  • 19. Traction You Product Social Proof Market
  • 20. Traction You Product Social Proof Market High Concept Pitch
  • 21. Traction You Product Social Proof Market High Concept Pitch Elevator Pitch
  • 22. Traction You Product Social Proof Market High Concept Pitch Elevator Pitch Presentation
  • 23. A Note on Location
  • 24. A Note on Location • Silicon Valley, New York
  • 25. A Note on Location • Silicon Valley, New York • Seattle, Austin, LA, Boston, Chicago, London
  • 26. A Note on Location • Silicon Valley, New York • Seattle, Austin, LA, Boston, Chicago, London • Estonia, Chile, India, Croatia, Poland
  • 27. A Note on Location • Silicon Valley, New York • Seattle, Austin, LA, Boston, Chicago, London • Estonia, Chile, India, Croatia, Poland • Capital is mobile, but capitalists are lazy
  • 28. A Note on Location • Silicon Valley, New York • Seattle, Austin, LA, Boston, Chicago, London • Estonia, Chile, India, Croatia, Poland • Capital is mobile, but capitalists are lazy • Funding markets develop backwards
  • 30. Markets and Approaches • Services, multiple products
  • 31. Markets and Approaches • Services, multiple products • Small Markets (obviously)
  • 32. Markets and Approaches • Services, multiple products • Small Markets (obviously) • Desktop software / Dead Platforms
  • 33. Markets and Approaches • Services, multiple products • Small Markets (obviously) • Desktop software / Dead Platforms • Conquered Markets with Network Effects
  • 34. Markets and Approaches • Services, multiple products • Small Markets (obviously) • Desktop software / Dead Platforms • Conquered Markets with Network Effects • High atom content
  • 35. Markets and Approaches • Services, multiple products • Small Markets (obviously) • Desktop software / Dead Platforms • Conquered Markets with Network Effects • High atom content • Not too large, not too small
  • 36. Team?
  • 37. Team? • “Functional visionary and project manager”
  • 38. Team? • “Functional visionary and project manager” • “I have no ego. Currently my role is visionary / strategist”
  • 39. Team? • “Functional visionary and project manager” • “I have no ego. Currently my role is visionary / strategist” • Outsourced development, business-heavy
  • 40. Team? • “Functional visionary and project manager” • “I have no ego. Currently my role is visionary / strategist” • Outsourced development, business-heavy • Sole founder
  • 41. Team? • “Functional visionary and project manager” • “I have no ego. Currently my role is visionary / strategist” • Outsourced development, business-heavy • Sole founder • Part-timers
  • 42. Team? • “Functional visionary and project manager” • “I have no ego. Currently my role is visionary / strategist” • Outsourced development, business-heavy • Sole founder • Part-timers • “High Tech Sales Exec who loves his family and loves to run”
  • 43. Team? • “Functional visionary and project manager” • “I have no ego. Currently my role is visionary / strategist” • Outsourced development, business-heavy • Sole founder • Part-timers • “High Tech Sales Exec who loves his family and loves to run” • 12 years experience in...
  • 49. Team Guidelines • No adjectives / opinions of yourself
  • 50. Team Guidelines • No adjectives / opinions of yourself • Show, not tell
  • 51. Team Guidelines • No adjectives / opinions of yourself • Show, not tell • Quantitative and precise, not qualitative and vague
  • 52. Team Guidelines • No adjectives / opinions of yourself • Show, not tell • Quantitative and precise, not qualitative and vague • Branded or measurable output
  • 53. Team Guidelines • No adjectives / opinions of yourself • Show, not tell • Quantitative and precise, not qualitative and vague • Branded or measurable output • Recruit only the best. And if you can’t, you’re not ready
  • 55. Product? • “We will disclose more under NDA”
  • 56. Product? • “We will disclose more under NDA” • “I am raising money to build the product”
  • 57. Product? • “We will disclose more under NDA” • “I am raising money to build the product” • “Launching next month”
  • 58. Product? • “We will disclose more under NDA” • “I am raising money to build the product” • “Launching next month” • “Sign up for the beta here...”
  • 59. Product? • “We will disclose more under NDA” • “I am raising money to build the product” • “Launching next month” • “Sign up for the beta here...” • “Building second version now”
  • 63. Product Guidelines • No promises / vision
  • 64. Product Guidelines • No promises / vision • Show, not tell
  • 65. Product Guidelines • No promises / vision • Show, not tell • Quantitative and precise, not qualitative and vague
  • 66. Product Guidelines • No promises / vision • Show, not tell • Quantitative and precise, not qualitative and vague • Something hard with specific knowledge
  • 67. Product Guidelines • No promises / vision • Show, not tell • Quantitative and precise, not qualitative and vague • Something hard with specific knowledge • Expect competition
  • 68. Product Guidelines • No promises / vision • Show, not tell • Quantitative and precise, not qualitative and vague • Something hard with specific knowledge • Expect competition • Build only the best. And if you can’t, you’re not ready
  • 70. Traction • Markets are efficient - individuals cannot predict traction
  • 71. Traction • Markets are efficient - individuals cannot predict traction • Amount varies by product
  • 72. Traction • Markets are efficient - individuals cannot predict traction • Amount varies by product • Incremental not cumulative
  • 73. Traction • Markets are efficient - individuals cannot predict traction • Amount varies by product • Incremental not cumulative • Know your microeconomics
  • 74. Traction • Markets are efficient - individuals cannot predict traction • Amount varies by product • Incremental not cumulative • Know your microeconomics • If you can’t generate traction, do you really want to raise money?
  • 75. Traction • Markets are efficient - individuals cannot predict traction • Amount varies by product • Incremental not cumulative • Know your microeconomics • If you can’t generate traction, do you really want to raise money? • How much is enough? 10% per month? 20%?
  • 77. Social Proof • “Get referred to us by someone we know”
  • 78. Social Proof • “Get referred to us by someone we know” • Entrepreneurs and committed investors best
  • 79. Social Proof • “Get referred to us by someone we know” • Entrepreneurs and committed investors best • Herd mentality is rational
  • 80. Social Proof • “Get referred to us by someone we know” • Entrepreneurs and committed investors best • Herd mentality is rational • Why? What did they like that you can’t show in the other metrics?
  • 82. Real Hacks • Advisory Round (Notable Founder, Operator)
  • 83. Real Hacks • Advisory Round (Notable Founder, Operator) • Cast a Broad Net, move simultaneously
  • 84. Real Hacks • Advisory Round (Notable Founder, Operator) • Cast a Broad Net, move simultaneously • Easier to pitch a new investor than to convert one
  • 85. Real Hacks • Advisory Round (Notable Founder, Operator) • Cast a Broad Net, move simultaneously • Easier to pitch a new investor than to convert one • Equity, not notes
  • 86. Real Hacks • Advisory Round (Notable Founder, Operator) • Cast a Broad Net, move simultaneously • Easier to pitch a new investor than to convert one • Equity, not notes • Sell an option
  • 87. Real Hacks • Advisory Round (Notable Founder, Operator) • Cast a Broad Net, move simultaneously • Easier to pitch a new investor than to convert one • Equity, not notes • Sell an option • But if you’re having a hard time, re-start, not push
  • 89. In Summary • Get to a funding hub
  • 90. In Summary • Get to a funding hub • Recruit an exceptional team.
  • 91. In Summary • Get to a funding hub • Recruit an exceptional team. • Build something that you are passionate and knowledgeable about
  • 92. In Summary • Get to a funding hub • Recruit an exceptional team. • Build something that you are passionate and knowledgeable about • Test it against customers
  • 93. In Summary • Get to a funding hub • Recruit an exceptional team. • Build something that you are passionate and knowledgeable about • Test it against customers • Get social and customer validation
  • 94. In Summary • Get to a funding hub • Recruit an exceptional team. • Build something that you are passionate and knowledgeable about • Test it against customers • Get social and customer validation • Raise on at least one exceptional characteristic
  • 95. In Summary • Get to a funding hub • Recruit an exceptional team. • Build something that you are passionate and knowledgeable about • Test it against customers • Get social and customer validation • Raise on at least one exceptional characteristic • PS - Assume fierce competition

Editor's Notes

  1. \n
  2. \n
  3. \n
  4. \n
  5. \n
  6. Bifurcated fundings - can’t raise money until you’re suddenly oversubscribed.\nIt’s an emotional decision, so you often get funded on the basis of your single best attribute\nNot like college where they weigh everything equally.\nLooking for that one thing that makes you the best in the world\n
  7. It’s like the number of times a song gets played. No average outcome - statistically meaningless. Because of network effects, leverage. Winner take all. Graph is of book popularity, only of top 5K books!\n
  8. \n
  9. \n
  10. \n
  11. \n
  12. \n
  13. \n
  14. \n
  15. \n
  16. \n
  17. \n
  18. \n
  19. \n
  20. \n
  21. \n
  22. \n
  23. \n
  24. \n
  25. \n
  26. \n
  27. \n
  28. \n
  29. \n
  30. \n
  31. \n
  32. \n
  33. \n
  34. \n
  35. \n
  36. \n
  37. \n
  38. \n
  39. \n
  40. \n
  41. \n
  42. \n
  43. \n
  44. \n
  45. \n
  46. \n
  47. \n
  48. \n
  49. \n
  50. \n
  51. \n
  52. \n
  53. \n
  54. \n
  55. \n
  56. \n
  57. \n
  58. \n
  59. \n
  60. \n
  61. \n
  62. \n
  63. \n
  64. \n
  65. \n
  66. \n
  67. \n
  68. \n
  69. \n
  70. \n
  71. \n
  72. \n
  73. \n
  74. \n
  75. \n
  76. \n
  77. \n
  78. \n
  79. \n
  80. \n