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

fabio@povoa.com