PacNOG 6: Nadi, Fiji IP Basics Steven VanDevender Hervey Allen Network Startup Resource Center.
Startup Basics
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Startup Basics This document compiles from the teachings of a startup accelerator company in Singapore that can hopefully help guide us in building a world class company Concierge MVP AKA 'fake it until you can make it' - http://www.slideshare.net/timgasper/concierge-mvp - Lesson 2: What is a concierge MVP? Meng do we already have a glossary document including links to helpful resources like this? If not perhaps I should start one with this entry. Communicating with Investors You might get inspiration from this simple template to update investors: http://updatemyvc.com/ That will really help them to create the line that they will invest in http://www.bothsidesofthetable.com/2010/11/15/invest-in-lines-not-dots/ Remain optimistic but manage your expectations rationally... When an investor meets you, the probability that he invest is lower in his mind that in yours... it's his job http://venturegeneratedcontent.com/2014/01/09/homebrews- 1-the-vc-metrics-behind-investing-in-one-of-every-100-companies-we-meet/ (Short) regular updates to investors, even pre-investment, is a good way to remain in their priorities (yes investors are humans and can 'forget' about some entrepreneurs/companies if they don't receive reminders about it while other priorities come to them - Joyful Frogs are competing against Angry Birds for Angels and Devils' attention). Only answer questions from investors which make sense for you and your business... otherwise you're wasting time better used to grow your business (if an investor wants you to answer questions which don't make sense, he probably does not understand your business so you should not go to bed with him anyway); that will also avoid disappointment if no deal follow... you just got someone helping you for free to prioritize Showing traction To be investment ready, you need to show 3 things:
description
This document details about the foundation and basic information about startup.It is also about business, entrepreneurship, dealing with topics on value proposition, business models, lean canvas and etc.
Transcript of Startup Basics
Startup BasicsThis document compiles from the teachings of a startup accelerator company in Singapore that can hopefully help guide us in building a world class company
Concierge MVPAKA 'fake it until you can make it'- http://www.slideshare.net/timgasper/concierge-mvp- Lesson 2: What is a concierge MVP?
Meng do we already have a glossary document including links to helpful resources like this? If not perhaps I should start one with this entry.
Communicating with InvestorsYou might get inspiration from this simple template to update investors:http://updatemyvc.com/
That will really help them to create the line that they will invest inhttp://www.bothsidesofthetable.com/2010/11/15/invest-in-lines-not-dots/
Remain optimistic but manage your expectations rationally... When an investor meets you, the probability that he invest is lower in his mind that in yours... it's his job http://venturegeneratedcontent.com/2014/01/09/homebrews-1-the-vc-metrics-behind-investing-in-one-of-every-100-companies-we-meet/
(Short) regular updates to investors, even pre-investment, is a good way to remain in their priorities (yes investors are humans and can 'forget' about some entrepreneurs/companies if they don't receive reminders about it while other priorities come to them - Joyful Frogs are competing against Angry Birds for Angels and Devils' attention).
Only answer questions from investors which make sense for you and your business... otherwise you're wasting time better used to grow your business (if an investor wants you to answer questions which don't make sense, he probably does not understand your business so you should not go to bed with him anyway); that will also avoid disappointment if no deal follow... you just got someone helping you for free to prioritize
Showing tractionTo be investment ready, you need to show 3 things:- that you have solved a problem worth solving (customer discovery)- that your solution fits the problem (product development)- that the market wants your solution (business development)
* It's possible to create something that solves a real problem (Problem-Solution fit) but which people still don't want to buy (Product-Market fit). Eg trying to sell knives and forks in China
Authentic communicationBe you and avoid corporate happytalkhttp://www.cluetrain.com/
Also see TA
Dont be afraid to look under the hoodRaspberry Pi is one way to experience bareback computing, old-skool style:http://www.raspberrypi.org/ are available at http://sg.element14.com/http://www.sketchup.com/intl/en/index.htmlhttp://tryruby.org/http://www.codecademy.com/http://en.wikipedia.org/wiki/Emacshttp://en.wikipedia.org/wiki/Liberal_artshttp://en.wikipedia.org/wiki/Getting_Things_Done
Resources supporting Lean Startup methodologiesLean Startup Machine leanstartupmachine.com
Running Lean - Ash Maurya - practical ways to apply Lean Startup Methodology - http://www.runningleanhq.com/Running Leanwww.runningleanhq.comWe live in an age of unparalleled opportunity for innovation. Were building more products than ever before, but most of them fail not because we cant complete what we set out to build, but because we waste time, money, and effort building the wrong product. What we need is a systematic process ...
http://leancanvas.comThe Lean Canvas approach attempts to reduce the complexity of developing a complete business proposition to nine boxes, each of which contains a hypothesis verified through a series of scientific experiments.
Bmfiddle.comHas Steve, Ash, Tristan, and Alex's canvases.
On Failurehttp://iteratingfun.com/post/26780534540/5-lessons-from-greplins-demise
It's fine to discover that your idea doesn't work. In parallel with British inventor Joseph Swan, US innovation icon Thomas Edison tried 3000 prototypes before he devised a practical incandescent lamp:All my work was deductive, and the results I achieved were those of invention, pure and simple. I would construct a theory and work on its lines until I found it was untenable. Then it would be discarded at once and another theory evolved ... I speak without exaggeration when I say that I have constructed 3,000 different theories in connection with the electric light, each one of them reasonable and apparently likely to be true. Yet only in two cases did my experiments prove the truth of my theory.
http://1.bp.blogspot.com/-iVoZU5r5DS8/TpsjdWS5nII/AAAAAAAABfk/_9rz86GMdEw/s1600/KMBA-Ira+Glass+Quote
OKR - Objectives and Key Results
1) Business Insider's article about Google's Internal Grading System(OKR)2) How Swipely keep tracks of his growing employees using OKR 3) An video on OKR explanation given by Google Venture's Partner, Rick Klau
