Should you turn that idea into a business? How do you turn that idea into a business? This webinar walks you through day by day how to start your business or startup.

1. Starting Up
The First 30 Days

2. Hi, I’m Devon.
• Georgetown Class of 2001
• Early Startup Employee
• StartupHoyas Advocate - On &
Off Campus
• Mobile Startups Through Prolific
• Living/Loving NYC & Brooklyn

4. Is Starting Up For You?

5. Know Yourself
Personality
• How do you react to failure?
• Are you ever satisfied?
• Take an Entrepreneur Personality Test (Appendix)
Resources
• Professional Experience
• Your Network
• Financial Security
Don’t quit your day job unless you can afford not to be
paid for a long time.

7. Vision/Idea
Why this industry & business concept?
• Solving a problem?
• Enough demand & margin in your product?
• Competition?
Name it something simple (don’t waste time on this)
• Initial branding is changeable
• You need something real/tangible.
Initial value statement and elevator pitch
• You’re selling yourself. Be confident & humble

8. Learn Quickly
Signup for newsletters (Appendix)
Log on to potential competitors and winners/losers in
your industry
Start a business plan - If you write a good business
plan, there are two likely results:
• You plan ahead - Your anticipate potential marketing,
management and financial problems. In doing this, you
decrease your likelihood of failure.
• You opt out - In writing the business plan, you’ve determined
that your business idea isn’t profitable. Businesses that fail at
the planning stage are the most cost effective.

10. Network Like Mad
Get out there, meet & share with
• Industry Peers
• Partners
• Employees
• Mentors (Industry & Founders Experience)
Meetups, Panels, Conferences & Georgetown Events
• Meetup.com is a must
• Find Georgetown Groups
Gracefully Ravage LinkedIn
• Find valuable connections
• Why would they want to connect with you?
• I’m on LinkedIn – Now What?

11. Setup Your Initial Image
Buy a domain name and post a landing page with a
short dscription of your vision - GoDaddy $12-24 for
URL & 1 year simple site.
Google For Business - $70/year for email, docs, etc...
Business Cards – VistaPrint 250 cards for $10
Practice explaining the vision so you can talk the talk.

12. Helpful Tools
Communications (Gmail)
• Email Reminders - Boomerang
• Sales CRM Tool - YesWare
• Connect with Social - Rapportive
• Auto-manage Contacts - Write That Name
• Scheduling Meetings - ScheduleOnce
Content Management
• Wordpress
Customer Communication
• MailChimp

14. Lean Startup &
Customer Development
Customer Development is a scientific approach that can be
applied by startups and entrepreneurs to improve their products
success by developing a better understanding of their
consumers - Steve Blank -
Lean Startup is an approach that relies on validated learning,
scientific experimentation, and iterative product releases to
shorten product development cycles, measure progress, and
gain valuable customer feedback. - Eric Ries -
See Appendix

15. Prepare Some Docs
Pitch Deck
Financial Projections
Continue Work on Business Plan
Documents & Info Requested By - customers, partners,
friends, family, etc…

16. Talk to the Legal Pros
Ask for references to find a lawyer - your friends, family
and results of networking in industry
A lawyer who knows your industry can be HUGE help
(ask for referrals).
Legal Tips Article

18. Understand Fundraising
Understand YOU ARE NOT READY TO RAISE MONEY
Learn from previous founders - Founder of Angel List
SBA (Grants & Loans), Debt, Friends & Family, Angels
& VCs
Is your type of company or industry being funded?

19. Taking Account
Feedback - what has it been and has it been helpful?
Network - who have you met and have they been
helpful?
Are you keeping track of your progress?
Happiness - are you happy/satisfied?

20. Prepare for what’s next
Accounting - Start with Quickbooks then move to
professional services
Prepare to hire - make sure you get along with your first
hires and do not issue them too much equity unless
you would consider them a cofounder
Make sure you’re legal - Business Startup Checklist
Fundraising

21. Questions

22. Connect With StartupHoyas
Linkedin
Georgetown Entrepreneurship Alliance
Facebook
Georgetown Entrepreneurship Alliance
On Campus Initiative
http://startuphoyas.com/
Twitter
http://twitter.com/search?q=startuphoyas

23. Appendix
Entrepreneur Personality Test –
• http://www.forbes.com/sites/aileron/2012/06/04/the-only-entrepreneur-test-you-will-ever-
need/
Tools & Software –
• http://thestartupfoundry.com/2011/02/18/startup-toolbox-a-resource-for-startups/
General guidance
• http://www.sba.gov/category/navigation-structure/starting-managing-business/starting-
business
Learn & Signup
• http://www.businessinsider.com/24-must-read-blogs-for-entrepreneurs-2012-6?op=1
• http://www.alleywatch.com
• Industry related journals and blogs
• Meetup groups - http://www.meetup.com
• Quora
Product Development & Lean Startup
• http://www.udemy.com/rethinking-the-product-development-process/
• http://www.amazon.com/Startup-Owners-Manual-Step-ebook/dp/B009UMTMKS
• http://www.udemy.com/lean-startup-sxsw-2012-videos-and-presentations
• http://www.startuplessonslearned.com/2008/11/what-is-customer-development.html