8. HACKER + HUSTLER.
YOU AND YOUR CO-FOUNDERS
WILL CREATE THE LASTING
CULTURE FOR THE COMPANY.
CHOOSE WISELY.
WHAT IS THE IDEAL FOUNDING TEAM MAKE UP?
@ethanaustin
9. THE ABSOLUTE MINIMUM
AMOUNT NEEDED TO CREATE
A FULLY CAPABLE TEAM
(USUALLY 2-3 FOUNDERS)
HOW MANY CO-FOUNDERS SHOULD I HAVE?
@ethanaustin
16. 1. OPTIMIZE FOR PASSION
2. HIRE GREAT ATHLETES + LEARNERS
3. LATER ON, HIRE SPECIALISTS
HOW DO IDENTIFY THE RIGHT ROLES FOR
LAUNCHING AND DO THEY CHANGE OVER TIME?
@ethanaustin
22. 1. SET CLEAR EXPECTATIONS
2. TREAT EACH RELATIONSHIP DIFFERENTLY
3. PURPOSEFUL ENGAGEMENT
HOW DO I MANAGE MY ADVISORS?
23. 1. STARTUP SUCCESS REQUIRES LUCK.
2. INCREASE YOUR LUCK BY SURROUNDING YOURSELF
WITH GREAT PEOPLE
3. TO FIND GREAT CO-FOUNDERS, TEAM MEMBERS AND
ADVISORS, OPTIMIZE FOR PASSION.
4. ONCE YOU’VE SURROUNDED YOURSELF WITH GREAT
PEOPLE EVERYTHING ELSE JUST KIND OF WORKS OUT.
TAKEAWAYS
Hinweis der Redaktion
FEEL FREE TO CONNECT ON TWITTER.
MY PRESENTATION IS BASED ONE TWO PREMISES
LIFE IS NOT A MERITOCRACY. IT’S LUCK. Next question is how do you increase your luck?
THIS IS ABOUT CO-FOUNDERS, TEAM, ADVISORS. THESE ARE THE PEOPLE YOU SURROUND YOURSELF.
FIRST QUESTION IS: DO I NEED A CO-FOUNDER?
STARTUPS ARE HARD – TOO HARD TO DO BY YOURSELF. IT’S FUCKING LONELY.
SHOUT YOUR IDEA FROM THE ROOFTOPS
SUPERBOWL – FLEW OUT WITH A SUITCASE. COMPLIMENT SKILLS.
PAYPAL - ONE MUST HAVE – PASSION FOR THE VISION – THOSE WILL BE THE GRITTIEST – PAYPAL.
THERE IS NO “IDEAL” YOU MAKE IT WORK.
HACKER AND HUSTLER - WE WERE TWO BUSINESS PEOPLE –
OUR SKILL SET, BEING NICE. IF HAD TO DO OVER, WOULD BRING IN ENGINEER.
INVESTORS TAKE 20-25%.
OPTIMIZE FOR SPEED OR CONTROL? CO-FOUNDERS TAKE MORE DILUTION THAN ANYONE.
SINGLE BIGGEST TAKEAWAY FOR TEAM -
WHY DO YOU COME TO WORK EVERYDAY?
EARLY EMPLOYEES ARE LIKE CO-FOUNDERS. ERICA – INTERN FOR YEAR AND A HALF FOR FREE. CALLED HER INTERN/FOUNDER
GET SCRAPPY – INTERNS, DEPAUL CONSULTANTS, NORTHWESTERN LEGAL CLINIC.
PEANUT BUTTER – BOOTH MBA STUDENTS, ADVISORS, PRO BONO LAWYER, DEPAUL AND NORTHWESTERN, WON CONTEST FOR DEV WORK
OFFER MORE EQUITY
YOU CAN’T IDENTIFY THE RIGHT ROLES BECAUSE THEY WILL CHANGE EVERYDAY – WE HIRED PEOPLE FOR EVENT PLANNING AND MARKETING BUT ONCE WE REALIZED WE WERE GOOD AT CUSTOMER SERVICE WE STARTED HIRING FOR THAT.
PASSION - STARTUPS ARE HARD. HUNGRY PASSIONATE PEOPLE WILL MOVE MOUNTAINS. WILL BE THERE UP AND DOWN
GREAT ATHLETES – ADAPTABLE – ROLES CHANGE –
SPECIALISTS ONLY FOR NEXT 9 MO.
ADVISORS LEAST IMPORTANT OF THE THREE. BUT THAT DOESN’T MEAN NOT IMPORTANT.
CREDIBILITY – YOU WANT TO SHOW PEOPLE YOU ARE CREDIBLE.
DOMAIN KNOWLEDGE OR SKILLS // MARKETERS OR PRODUCT
MENTORSHIP – BEEN THERE DONE THAT. FOUNDERS // ENTREPRENEURS
CONNECTIONS – CAN MAKE INTROS TO INVESTORS OR CLIENTS
JEFF HOFFMAN, ERIC LANGSHURE - TECHSTARS
SUSAN SILVER,
TWITTER – FAKE GRIMLOCK, SATYA PATEL (SEEDCON), ANDY RACHLEFF, BRAD FELD, SETH GODIN
BRAD FELD – ASK QUESTIONS AT CONFERENCES OR TWEET. IT GETS THEIR ATTENTION
SETH GODIN – JUST WROTE TO HIM.
FAKE GRIMLOCK, SATYA PATEL (SEEDCON), ANDY RACHLEFF.
HOW OFTEN DO YOU ENGAGE 1 HR PER WEEK – DO YOU CREATE A CLEAR ASK. WORST IS NOT KNOWING IF YOU ARE CREATING VALUE
MIX OF ADVISORS – THINK OF THEM AS SPECIALISTS. YOU NEED TO COMMUNICATE WITH THEM DIFFERENTLY
HUGS – BIG WINS, SMALL VICTORIES, FEARS AND STRUGGLES. HEAD – STRATEGIC. HEART – WHAT VS WHY. B/C THE MORE THEY CARE ABOUT YOU, THE MORE OPPORTUNITIES APPEAR