Draper University Plan B

Draper University 2012@ThomasHessler

What is your Plan B ?

Draper UniversityWhat is your Plan B?

@ThomasHesslerFounder/CEO UFOstart

Why NOT To Do a Startup

… because You Will FAIL, Loser.

Dave McClure500startups.com

Master of 500 HatsTahoe Tech Talk - Oct 2010

@DaveMcClure

http://500startups.com

http://500startups.com

http://500hats.typepad.com/

DON’T DO A STARTUP… YOU WILL FAIL.

#1: Yer a WANTrepreneur.

● You’re in this for all the Wrong reasons:● You think it’s “So Fucking Cool” to do a startup● You want to make LOTS of Money.● You have Teh Awesome Technology Solution.

● The Right Reasons:● You Live in Fear.● You Can’t Get Laid.● Something has been PISSING you off FOREVER.

YOU ARE PASSIONATE ABOUT [SOLVING] A [CUSTOMER] PROBLEM

Plan B

Bootstrapping

● Act Smarter

● Move Faster

● Build Stronger

How we started

1. HUNGRY ● Hi Motivation, Trying Harder

2. NO MONEY ● Forced to bootstrapping and profitability

3. reInventing Advertising ● by luck & passion for internet

zanox: Advertising reInvented

# No Idea about Business

# Bootstrapped

#In our Garage

#Started in the Bubble of 2000

#With Family, Friends & Equity

performance based online advertising

$300M Revenue 400 Employess

Sold $300m to Axel Springer & PG

What did we do?

Innovate & Bootstrapping● General:

combine existing things in a new wayincrease value or reduce costinnovate don't invent

● zanox case:Existing business model + new distribution (crowdsourced) + much cheaper (performance based)= INNOVATION

What do we learn?

You can make it!

...even with:

● Bad conditions at start● No clue● No funding

But, how to bootstrap to become smarter, faster, stronger?

#Learning from Silicon Valley = smarter

#Don't for ask Funding = stronger

#Collaboration = smarter & faster

#Social distribution = faster

#AllOrNothing + dealclock = stronger

#Customer Validation = smarter

#Lean Startup Model= smarter & faster

Lets reInvent Startup Funding

# Start in Garage= bootstrapping

# Design Thinking= smarter

# Rapid Prototyping= faster

Our strong Vision

You are the Boss! everyone's an entrepreneur

The first "Crowd Investor Network" - crowdsourcing startups with investors,

experts and customers.

■10,000 Deals ■300,000 Talents■$500M Funding, within 3 years

UFOstart

Solution1) What?

○ Facebook application○ Crowdsource Startups

2) How?○ Startups offer Equity for needs○ Build strong Community

3) Why better?○ Use the Power of the Crowd○ Bootstrapping scalable

UFOstart Demo

Act Smarter

- Lean, Agile, Pivot- Validate by Customers - Use Crowd Power - Make Meaning

Move Faster

- Move quickly by leveraging Facebook, LinkedIn & cloud infrastructure

- Distribute social & viral

- Scale execution by crowdsourcing workforce- Stay agil to pivot by quarterly fundraising

Build Stronger

- Close deals easy with a Killer Pitch and Transparency

- Use Equity as your Cash- Ownership also creates passionate employees- Become Independent from investors by reducing your cash needs by 80%

Plan B = UFOstart

Professionalize bootstrapping &Crowdsource your startup

● Smarter

● Faster

● Stronger

One more Thing

#Think BIG

#Change the world

Summary & Next Steps

What is your Plan B?● Innovate don't Invent● Go lean and Bootstrap● Act Smarter, Faster, Stronger

1. Signup & Calculate your Startup Value2. Get 1/10 10k cheks if you don't get funding on demoday

www.UFOstart.com

If you liked it follow me on Twitter: @ThomasHessler

Draper University Plan B

Technology

Transcript of Draper University Plan B