2. who am I and why I’m
qualified to talk about
this stuff:
• co-founder + CEO
Buyosphere.com
• been raising $$ for
>1yr
• raised $200k F&F
• believed the hype
• lived in SF for 4yrs
• made a crapload of
mistakes already
• serial entrepreneur
(but first startup)
15. why?
• you will work longer hours
• you will face rejection daily
• you will be paid peanuts (if anything
at all)
• everyone will think you are crazy
• there will be MANY days that you doubt
yourself and everything you are doing.
16.
17. the entrepreneurial venn
desire to
delusional A change the
status quo
D
C B
audacity
A. those that go postal
B. dictators
C. serial killers
D. startup entrepreneurs
27. fact:
you will wake up in a
puddle of your own sweat
several nights a week
because you realize you are
completely fucked.
28. how to deal:
1. know that you will be rejected.
2. understand that you will underestimate the
number of times you will be rejected and how
long it will take you to raise $$. (insert
completely fucked night sweats here)
3. ask rejectors for feedback (REAL feedback)
4. ignore most of said feedback* but not all of it
5. seek mentors and allies (note: this is the most
important point I make this entire
presentation)
* knowing what to ignore is not easy
39. “Paul Graham only invested in us, when he heard about the Obama O's
story. And he figured, well these guys are like really creative,
smart entrepreneurs; they'll probably change their idea.”
AirBnB Founder, Brian Chesky
40. Question I ask myself
every single day:
what are my Obama O’s?
41. alt. funding ideas
• Friends & Family - your network is stronger than you
know (we raised $192,000)
• Go lean - how can you pare down your operations and
personal lifestyle? Do it early. Lower the burn.
• Hold a fundraiser - make it awesome. Indiegogo?
Profounder? Kickstarter?
• Sell your stuff on eBay - It’s a short term
sacrifice.
• Make $$ in your free time - Pixazza, TaskRabbit,
TaskHire, AirBnB, Kindle, deliver pizza (Alfred from
Zappos did this), etc. (make it simple, mindless
tasks)
• Take out a loan! Nobody will own you.
42. earning the CEO badge:
Your ONLY job is to keep
the company going until you
find product/market fit.
ONLY job.*
Your
* Okay, that AND 10 gabillion other things. But this is the most important.
43.
44. tips on finding
product/market fit...
• solve the right problem (http://uxmag.com/strategy/
you-are-solving-the-wrong-problem)
• research and seek outside opinion (advisors are
key)
• eat your own dogfood...taste it! yeah, it sucks,
right?
• limit your market
• get outside of your bubble
• don’t commit suicide...hang in there!
45. Are you ready to
make the ultimate
sacrifice? nly one
ther e is o
a nswer
