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Similaire à Founder Institute Presentation on Startup Team and Advisors
Similaire à Founder Institute Presentation on Startup Team and Advisors (20)
Founder Institute Presentation on Startup Team and Advisors
- 2. STARTUP SUCCESS = 75% HUSTLE + 25% LUCK @ethanaustin
- 3. INCREASE YOUR LUCK BY SURROUNDING YOURSELF WITH AMAZING PEOPLE @ethanaustin
- 4. ORDER OF OPERATIONS 1. CO-FOUNDER 2. TEAM 3. ADVISORS
- 5. CO-FOUNDERS
- 6. YES!!!!!
- 7. OPTIMIZE FOR PASSION. EVERYTHING ELSE IS A NICE TO HAVE. HOW DO I FIND THE RIGHT CO-FOUNDER?
- 8. HACKER + HUSTLER. YOU AND YOUR CO-FOUNDERS WILL CREATE THE LASTING CULTURE FOR THE COMPANY. CHOOSE WISELY. WHAT IS THE IDEAL FOUNDING TEAM MAKE UP? @ethanaustin
- 9. THE ABSOLUTE MINIMUM AMOUNT NEEDED TO CREATE A FULLY CAPABLE TEAM (USUALLY 2-3 FOUNDERS) HOW MANY CO-FOUNDERS SHOULD I HAVE? @ethanaustin
- 10. TEAM
- 11. “AN INSPIRED AND PASSIONATE TEAM IS THE GREATEST COMPETITIVE ADVANTAGE A STARTUP CAN EVER HAVE.” @ethanaustin
- 12. “PEOPLE DON’T BUY WHAT YOU DO, THEY BUY WHY YOU DO IT.” - Simon Sinek
- 13. HOW DO I FIND THE RIGHT PEOPLE TO LAUNCH MY COMPANY? FIND PEOPLE THAT CARE ABOUT YOUR “WHY”
- 14. HOW CAN I RECRUIT PEOPLE TO FILL ROLES WHEN I HAVE LIMITED RESOURCES? FIND PEOPLE THAT CARE ABOUT YOUR “WHY” OFFER FREE CHIPOTLE (KIDDING)
- 15. NOT KIDDING FIND PEOPLE THAT CARE ABOUT YOUR “WHY” OFFER FREE CHIPOTLE
- 16. 1. OPTIMIZE FOR PASSION 2. HIRE GREAT ATHLETES + LEARNERS 3. LATER ON, HIRE SPECIALISTS HOW DO IDENTIFY THE RIGHT ROLES FOR LAUNCHING AND DO THEY CHANGE OVER TIME? @ethanaustin
- 17. YAY ADVISORS!!!
- 18. 1. CREDIBILITY 2. DOMAIN KNOWLEDGE 3. MENTORSHIP 4. CONNECTIONS WHY DO I WANT ADVISORS?
- 19. 1. USE YOUR ACCELERATOR 2. ENTREPRENEUR GROUPS 3. USE YOUR NETWORK HOW DO YOU FIND THE RIGHT SET OF ADVISORS?
- 20. JUST SAY HELLO :) #1 BEST WAY TO FIND THE RIGHT ADVISORS?
- 21. HOW DO I MANAGE MY ADVISORS?
- 22. 1. SET CLEAR EXPECTATIONS 2. TREAT EACH RELATIONSHIP DIFFERENTLY 3. PURPOSEFUL ENGAGEMENT HOW DO I MANAGE MY ADVISORS?
- 23. 1. STARTUP SUCCESS REQUIRES LUCK. 2. INCREASE YOUR LUCK BY SURROUNDING YOURSELF WITH GREAT PEOPLE 3. TO FIND GREAT CO-FOUNDERS, TEAM MEMBERS AND ADVISORS, OPTIMIZE FOR PASSION. 4. ONCE YOU’VE SURROUNDED YOURSELF WITH GREAT PEOPLE EVERYTHING ELSE JUST KIND OF WORKS OUT. TAKEAWAYS
Notes de l'éditeur
- FEEL FREE TO CONNECT ON TWITTER. MY PRESENTATION IS BASED ONE TWO PREMISES
- LIFE IS NOT A MERITOCRACY. IT’S LUCK. Next question is how do you increase your luck?
- THIS IS ABOUT CO-FOUNDERS, TEAM, ADVISORS. THESE ARE THE PEOPLE YOU SURROUND YOURSELF.
- FIRST QUESTION IS: DO I NEED A CO-FOUNDER?
- STARTUPS ARE HARD – TOO HARD TO DO BY YOURSELF. IT’S FUCKING LONELY.
- SHOUT YOUR IDEA FROM THE ROOFTOPS SUPERBOWL – FLEW OUT WITH A SUITCASE. COMPLIMENT SKILLS. PAYPAL - ONE MUST HAVE – PASSION FOR THE VISION – THOSE WILL BE THE GRITTIEST – PAYPAL.
- THERE IS NO “IDEAL” YOU MAKE IT WORK. HACKER AND HUSTLER - WE WERE TWO BUSINESS PEOPLE – OUR SKILL SET, BEING NICE. IF HAD TO DO OVER, WOULD BRING IN ENGINEER.
- INVESTORS TAKE 20-25%. OPTIMIZE FOR SPEED OR CONTROL? CO-FOUNDERS TAKE MORE DILUTION THAN ANYONE.
- SINGLE BIGGEST TAKEAWAY FOR TEAM -
- WHY DO YOU COME TO WORK EVERYDAY?
- EARLY EMPLOYEES ARE LIKE CO-FOUNDERS. ERICA – INTERN FOR YEAR AND A HALF FOR FREE. CALLED HER INTERN/FOUNDER
- GET SCRAPPY – INTERNS, DEPAUL CONSULTANTS, NORTHWESTERN LEGAL CLINIC. PEANUT BUTTER – BOOTH MBA STUDENTS, ADVISORS, PRO BONO LAWYER, DEPAUL AND NORTHWESTERN, WON CONTEST FOR DEV WORK OFFER MORE EQUITY
- YOU CAN’T IDENTIFY THE RIGHT ROLES BECAUSE THEY WILL CHANGE EVERYDAY – WE HIRED PEOPLE FOR EVENT PLANNING AND MARKETING BUT ONCE WE REALIZED WE WERE GOOD AT CUSTOMER SERVICE WE STARTED HIRING FOR THAT. PASSION - STARTUPS ARE HARD. HUNGRY PASSIONATE PEOPLE WILL MOVE MOUNTAINS. WILL BE THERE UP AND DOWN GREAT ATHLETES – ADAPTABLE – ROLES CHANGE – SPECIALISTS ONLY FOR NEXT 9 MO.
- ADVISORS LEAST IMPORTANT OF THE THREE. BUT THAT DOESN’T MEAN NOT IMPORTANT.
- CREDIBILITY – YOU WANT TO SHOW PEOPLE YOU ARE CREDIBLE. DOMAIN KNOWLEDGE OR SKILLS // MARKETERS OR PRODUCT MENTORSHIP – BEEN THERE DONE THAT. FOUNDERS // ENTREPRENEURS CONNECTIONS – CAN MAKE INTROS TO INVESTORS OR CLIENTS
- JEFF HOFFMAN, ERIC LANGSHURE - TECHSTARS SUSAN SILVER, TWITTER – FAKE GRIMLOCK, SATYA PATEL (SEEDCON), ANDY RACHLEFF, BRAD FELD, SETH GODIN
- BRAD FELD – ASK QUESTIONS AT CONFERENCES OR TWEET. IT GETS THEIR ATTENTION SETH GODIN – JUST WROTE TO HIM. FAKE GRIMLOCK, SATYA PATEL (SEEDCON), ANDY RACHLEFF.
- HOW OFTEN DO YOU ENGAGE 1 HR PER WEEK – DO YOU CREATE A CLEAR ASK. WORST IS NOT KNOWING IF YOU ARE CREATING VALUE MIX OF ADVISORS – THINK OF THEM AS SPECIALISTS. YOU NEED TO COMMUNICATE WITH THEM DIFFERENTLY HUGS – BIG WINS, SMALL VICTORIES, FEARS AND STRUGGLES. HEAD – STRATEGIC. HEART – WHAT VS WHY. B/C THE MORE THEY CARE ABOUT YOU, THE MORE OPPORTUNITIES APPEAR