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Daniel Tenner - Ideas, cofounders, shares
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Transcript of Daniel Tenner - Ideas, cofounders, shares
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Ideas and cofounders
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The plan
•Ideas, good and bad
•Idea reach
•Cofounder horror stories
•Cofounder howto
•Some thoughts on shares & employees
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1. Ideas, good and bad
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What is a bad idea???
What is a bad idea???
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... a million different ways to
fail...
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“I could build this cool thing...”
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Change of mindset?
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Opportunity-led ideas
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2. Idea reach
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3. Cofounder horror stories
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Vocalix
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<unnamed>
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4. Cofounder Howto
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How to find cofounders
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A common process?
1.Sign up to a dating site // go to event/club
2.Find a wife
3.Get married
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A common process
1.Sign up to a cofounder site // go to event
2.Find a cofounder
3.Start something
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A better process
1.Go meet people
2.Make friends and work with people
3.Start a startup
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The best process
Start up with an existing friend!
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But...
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So what can you do?
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Disagreements
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“What do we both mean by...?”
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Don’t assume, check!
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Make agreements explicit
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How?
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Detail your agreements
•Explicit numbers
•“We’re going to give this 2 years”
•“I’ll be happy if we each make £50k/year out of this”
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How?
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Write things down
•Until it’s written down, it’s implicit
•People forget what they agreed
•Clear writing brings out disagreements
•Writing = coding for people
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Don’t be afraid of the bad stuff
•Embarrassing topics
•People’s circumstances change
•Shit happens
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Don’t make it work at all costs
•Grab opportunities - don’t jump off a cliff
•If there’s a major disagreement, seriously consider pulling the plug
•Trust your gut
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In short...
•Make agreements explicit
•Detail your agreements
•Write things down
•Don’t be afraid of discussing negative scenarios
•Don’t make it work at all costs
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5. Shares, employees, etc
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Silicon Valley model
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Protect your shares like your blood
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? %
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Motivation
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Drive: Autonomy, Mastery, Purpose
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Fairness
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37Signals model
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“Business Guys”
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“Dev Guys”
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“I’ll pay you in shares”?
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Protect your shares like your blood
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•Ideas, good and bad
•Idea reach
•Cofounder horror stories
•Cofounder howto
•Some thoughts on shares & employees
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Thank you!