I put this presentation together because I kept getting asked what a tech startup was. I realized if the mission we had with The Phat Startup was ever going to create entreprenerus instead of just entertaining the ones that already exsist, we had to educate. So here is a general description of a tech startup that I will use to speak to people in urban communities.

1. What The Hell Is A Tech Startup?

2. Anthony Frasier
Founder, The Phat Startup
Partner, BrickCity Tech / Converge
I founded Playd, an app that allowed gamers to share
their activity across multiple platforms. I was featured on
“CNN’s Black in America: The New Promised Land -
Silicon Valley.” I also made NBC The Grio’s 100: Making
History Today list. Was featured in Tech Crunch, CNN
Money, Black Enterprise, and speak at various industry
events.

3. Lets Check Out Some
DEFINITIONS

4. “A startup is a human
institution designed to
deliver a new product or
service under conditions of
extreme uncertainty.”
- Eric Ries

5. “A startup is an organization
formed to search for a
repeatable and scalable
business model.”
- Steve Blank

6. So, which definition is the right one?

7. So, which definition is the right one?
I SAY BOTH.

8. We come up with new ideas all the time. But, we aren’t always
sure if it will make money and solve a real problem for a huge
amount of people.

9. We also want
to change the
World.

10. That’s what a tech startup is all about.

11. Square makes it easy for
anyone to accept credit card
payments from their mobile
phone.

12. Square makes it easy for
anyone to accept credit card
payments from their mobile
phone.
Huge problem

13. Square makes it easy for
anyone to accept credit card
payments from their mobile
phone.
Huge problem
Huge market

14. Airbnb makes it easy for
anyone to find or host a place
for people to stay.

15. Airbnb makes it easy for
anyone to find or host a place
for people to stay.
Huge problem

16. Airbnb makes it easy for
anyone to find or host a place
for people to stay.
Huge problem
Huge market

17. Everybody
isn’t so lucky.

18. 75%
of startups fail.

19. Quora: Reasons Startups Fail
1. Not enough people know about the created product. The people who
know about it don't understand the product. The people who
understand it don't want it.

20. Quora: Reasons Startups Fail
1. Not enough people know about the created product. The people who
know about it don't understand the product. The people who
understand it don't want it.
2. Management teams lack flexibility to change direction when needed.

21. Quora: Reasons Startups Fail
1. Not enough people know about the created product. The people who
know about it don't understand the product. The people who
understand it don't want it.
2. Management teams lack flexibility to change direction when needed.
3. Resources (funding/time/labor) are managed poorly.

22. Quora: Reasons Startups Fail
1. Not enough people know about the created product. The people who
know about it don't understand the product. The people who
understand it don't want it.
2. Management teams lack flexibility to change direction when needed.
3. Resources (funding/time/labor) are managed poorly.
4. Inability or failure to obtain and/or maintain sufficient capital (for a
variety of reasons), whether or not managed poorly

23. What kind of people create tech startups?

24. What kind of people create tech startups?
Crazy people.

25. What kind of people create tech startups?
Crazy people.
You have to be crazy enough to think it will work.

26. It’s always a risk.

27. Anyone can create a tech startup, all you need is the right
skills and/or the right team.

28. I like Dave McClure’s formula:
Hacker + Hustler + Designer = Startup

29. Hacker
Somebody who
can code and
prototype.

30. Hustler
Someone who
can sell and
make the right
connections.

31. Designer
Someone who
makes sure it’s
usable and looks
good.

32. As a founder you may wear multiple hats at different
times.

33. You should still learn to prototype.
“Learn how to hack something
together so that you can get
people interested in your idea, your
project, your startup. If you can do
that, then you have a better chance
of success.”
-Fred Wilson

34. What about money? Startups are funded several ways.

35. Bootstrap
You can fund your company with money
out of your own pocket or from friends
and family. Some startups with a good
business model and market can fund
themselves from day one.

36. Crowdfunding
With crowdfunding a large
group of people can come
together to help fund your
project. Supporters don’t
usually get equity or stock in
your company. As this source
of funding becomes more
popular, that may change.

37. Angel Investor
An angel investor, helps
you get the cash to launch
or grow at an early stage.
The angel usually gets
equity and ownership in
return for their
investment. Angels can
be any person of wealth.
They are also a good
source of contacts and
advice.

38. Venture Capital
VC funds invest larger amounts of money than angel investments. If
your business is off the ground and you need money to expand, you
will most likely seek these larger firms. They also take bigger
amounts of equity and control.

39. Books you should read!

40. Thanks!
Come check me out at:
anthonyfrasier.com &
ThePhatStartup.com
Anthony Frasier
info@anthonyfrasier.com
@anthonyfrasier