Pay Attention, Measure and Adjust Advice for Entrepreneurs from an Internet Startup Enthusiast, Brian Link

Advice for Entrepreneurs <ul><li>(From an Internet Startup Enthusiast) </li></ul><ul><li>Brian Link </li></ul><ul><li>Fisher College of Business, </li></ul><ul><li>Jan 14, 2010 </li></ul>

Who am I? <ul><li>Brian Link </li></ul><ul><ul><li>Currently CEO of Toobla (1 year) </li></ul></ul><ul><ul><li>Currently Partner at weBuild (1 year) </li></ul></ul><ul><ul><li>3 Years at Digg.com (Dev/QA/R&D) </li></ul></ul><ul><ul><li>CTO at NSB Group (1 year) </li></ul></ul><ul><ul><li>13 Years at Cambridge Technology Partners (20 full SDLC) </li></ul></ul><ul><ul><li>Connect: linkedin.com/in/brianwlink </li></ul></ul>

Add Value for Aspiring Entrepreneurs <ul><li>Guts, Culture, Determination </li></ul><ul><li>Do Something Awesome </li></ul><ul><li>Pay Attention, Measure and Adjust </li></ul><ul><li>Lean, Smart, Practical </li></ul><ul><li>Network, Connections, Advice </li></ul><ul><li>Pitch Smart, Capital Access Plan </li></ul><ul><li>Funding and Exits </li></ul>

Guts, Culture, Determination <ul><li>Ready to take the leap? </li></ul><ul><li>Founders matter. True colors shine. </li></ul><ul><li>Startups take over your life </li></ul><ul><li>Passion+Persistence > Intelligence </li></ul><ul><li>It takes time, be realistic, fail fast </li></ul><ul><li>Flickr, Blogger, Play-doh </li></ul>

Do Something Awesome <ul><li>Simple product, great value </li></ul><ul><li>Solve a critical need, cure a pain </li></ul><ul><li>Painkillers not Vitamins </li></ul><ul><li>Make users happy, make money </li></ul><ul><li>Kill a feature, focus on used features </li></ul><ul><li>Great product first, then market + $ </li></ul>

Pay Attention, Measure and Adjust <ul><li>Connect with users, ask questions </li></ul><ul><li>Do your own support (feel their pain) </li></ul><ul><li>Identify your critical metrics </li></ul><ul><li>Activation, Acquisition, Retention, Referral, Revenue </li></ul><ul><li>Be nimble, adjust, radically if needed </li></ul>

Lean, Smart, Practical <ul><li>Hire generalists before specialists </li></ul><ul><li>Motivate with equity wisely </li></ul><ul><li>Don’t waste time on lengthy biz plan </li></ul><ul><li>Find a lawyer that knows startups </li></ul><ul><li>Innovate to survive, push then test </li></ul>

Network, Connections, Advice <ul><li>Who do you know? LinkedIn fanatic </li></ul><ul><li>Everyone you meet might help you </li></ul><ul><li>Could you have coffee every morning? </li></ul><ul><li>First, don’t pitch, ask for advice </li></ul><ul><li>Build relationships, don’t waste time </li></ul>

Pitch Smart, Capital Access Plan <ul><li>Guy Kawasaki’s 10/20/30 </li></ul><ul><li>More on business, less on product </li></ul><ul><li>Know what you need, plan for it </li></ul><ul><li>Don’t get hung up on valuation </li></ul><ul><li>Product roadmap, hiring plan, marketing plan, tight runrate </li></ul>

Funding and Exits <ul><li>FFF: Friends, Family and Fools </li></ul><ul><li>Angels </li></ul><ul><li>Grants, Programs, Government </li></ul><ul><li>Venture Capital </li></ul><ul><li>Preserve % but don’t be stupid </li></ul><ul><li>twitter.com/blinkdaddy/vc-and-angels </li></ul>

People in Columbus <ul><li>twitter.com/cbusimPRessions/columbus </li></ul><ul><li>thegillespielawgroup.com </li></ul>

Resources <ul><li>The Art of the Start </li></ul><ul><li>Guts and Borrowed Money </li></ul><ul><li>The Deadline, A Novel about Proj Mgt </li></ul><ul><li>Tipping Point </li></ul><ul><li>The Long Tail </li></ul><ul><li>Viral Loop </li></ul><ul><li>Tribes </li></ul><ul><li>The Cluetrain Manifesto </li></ul>

Resources <ul><li>http://500hats.typepad.com / Dave McClure - startup metrics for pirates </li></ul><ul><li>http://www.jasonnazar.com </li></ul><ul><li>http://venturehacks.com / </li></ul><ul><li>http://onstartups.com / (triplets list) </li></ul><ul><li>http://www.paulgraham.com/startuplessons.html </li></ul><ul><li>http://www.paulgraham.com/really.html </li></ul><ul><li>http://howardlindzon.com / </li></ul><ul><li>http://www.avc.com/a_vc/2008/03/startup-advice.html </li></ul><ul><li>http://www.startuplessonslearned.com / </li></ul><ul><li>http://startup-marketing.com / </li></ul><ul><li>http://andrewchenblog.com/list-of-essays </li></ul>