Post on 22-Nov-2014
description
Lessons from an
entrepreneur
Fábio PóvoaMay/14
Fábio
Lean startup
Thoughts on being an
entrepreneur Things I know to be true
A word on traction, scale &
smart money Q&A
Fábio Póvoa
Lean startup
A document that your investors make you write that they don’t
A place to collect guesses
A template for you to look like everyone else
Builds increasingly false sense of certainty
Raise money -> now execute as planned
Learn the hard way that customers … suck
No one – aside from VCs and the former Soviet Union – requires 5 year plans to
forecast a series of unknowns.
Plans are generally a piece of fiction, and conceiving them is almost always a waste
of time.
Business plans for startups do NOT SURVIVE first contact with customers.
“Everybody has a plan until they get punched in the mouth”
Startups are not smaller versions of
large companies.
A startup is a temporary organization designed to search for
a repeatable, scalable and profitable business model.
Lean Canvas
“A pivot is a change in STRATEGY without a change in VISION.”
Art
and/or
method ?
Can entrepreneurship be taught ?
Wrong question and mindset.
Entrepreneurship is so f*** hard that it
shall be...
… learned !!
So you (think you) are/wannabe an…
…entrepreneur
?
Customers are not God.
God forgives.
Solve a problem, a pain. Even yours ! Impact, meaningfullness “There’s gotta be a better way” Trends, technologies, changes Your skills + innovation + an unmet mkt need
Enjoy the ride
Solve a problem, a painEnjoy the ride Impact, meaninfullness“There’s gotta be a better way”Trends, technologies, changesYour skills + innovation + an unmet mkt need
Custom projects x scalable prod/serv/platform
Needs -> requirement -> common features
Recurring
Revenue$
Kiss
Fight for productivity.
Show up!
Growth f***ing matters!
Financing stages
Do you believe in angels ?
You?
• Money
• Strategy• industry specific knowledge• entrepreneurial path• product and tech expertise
• Networking• Brand: certificate• Leads / high level intro• Fundraising effort
• Build a relationship
• Don’t ask for money: ask for help
• Give back: dealflow
• Show traction• Reveal strategy• Highlight differentiation• Send regular progress report