UCSC Talk on Building Startups

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The University of Santa Cruz has a sequence in entrepreneurship (https://startups.ucsc.edu/). I gave this talk on the basics of forming a company, to help the students understand that startups take time, and nothing happens overnight.

Kleinunternehmen & Unternehmertum

bill@scientificrevenue.com
The World’s First Dynamic Pricing Engine for In-App Purchases
© 2014 Scientific Revenue

bill@scientificrevenue.com© 2014 Scientific Revenue
It Takes a Village: Going from CTO to CEO
(The Short Version)

bill@scientificrevenue.com
TL;DR
• Habits, social skills, and the ability to shape your
environment are the keys to success
– Easy to learn, require diligence
– This is not rocket surgery and you already know how to do it
• Smart isn’t nearly enough
• IQ is table stakes
– Once you get two standard
deviations out, it just
doesn’t matter
© 2014 Scientific Revenue

bill@scientificrevenue.com
TL;DR (Second Version)
© 2014 Scientific Revenue

bill@scientificrevenue.com
Timeline
H1 2014H1 2013H2 2012 H2 2013
• Quit job
• Get EIR /
listen to 30
pitches
• Do
consulting
• Survey
market
• Start to build
first team
• Market
Surveys
• Confirm
initial idea
• Rebuild
Scientific
Revenue
team
• Incorporate /
get legal
advice
• Start building
initial
prototype
• Expand to
team of 5
engineers
• Start to raise
first round of
funding
• Talk to
market at
least twice a
week
• Build
advisory
board
• Close initial
funding
round
• Start paying
people
• Start hiring
more people
• Go to market
© 2014 Scientific Revenue

bill@scientificrevenue.com
18 Months to Beta
• It takes time
• It could have been 15 months if I’d been more
efficient
• But not much shorter
• Key point: this stuff takes time, even if you’re
experienced and know what you’re doing
• Even more key point: you knew that already
© 2014 Scientific Revenue

bill@scientificrevenue.com
Overarching: You’re Not Unique
• We all have great ideas
• We’re all busy
• The key to success is,
astonishingly enough,
understanding this
– Respect other
people’s time and
effort
– Pay it forward and
backward
– Understand that
everyone is doing
their best
© 2014 Scientific Revenue

bill@scientificrevenue.com
Things Have Their Own Pace
© 2014 Scientific Revenue

bill@scientificrevenue.com
Always Take the Meeting
© 2014 Scientific Revenue

bill@scientificrevenue.com
Always Take the Cookie
© 2014 Scientific Revenue

bill@scientificrevenue.com
Startups are about Sales
© 2014 Scientific Revenue

bill@scientificrevenue.com
Always Listen
© 2014 Scientific Revenue

bill@scientificrevenue.com
Stick to It
© 2014 Scientific Revenue

bill@scientificrevenue.com
Be Happy
© 2014 Scientific Revenue

bill@scientificrevenue.com
Thank You
© 2014 Scientific Revenue

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UCSC Talk on Building Startups

3. bill@scientificrevenue.com TL;DR • Habits, social skills, and the ability to shape your environment are the keys to success – Easy to learn, require diligence – This is not rocket surgery and you already know how to do it • Smart isn’t nearly enough • IQ is table stakes – Once you get two standard deviations out, it just doesn’t matter © 2014 Scientific Revenue

5. bill@scientificrevenue.com Timeline H1 2014H1 2013H2 2012 H2 2013 • Quit job • Get EIR / listen to 30 pitches • Do consulting • Survey market • Start to build first team • Market Surveys • Confirm initial idea • Rebuild Scientific Revenue team • Incorporate / get legal advice • Start building initial prototype • Expand to team of 5 engineers • Start to raise first round of funding • Talk to market at least twice a week • Build advisory board • Close initial funding round • Start paying people • Start hiring more people • Go to market © 2014 Scientific Revenue

6. bill@scientificrevenue.com 18 Months to Beta • It takes time • It could have been 15 months if I’d been more efficient • But not much shorter • Key point: this stuff takes time, even if you’re experienced and know what you’re doing • Even more key point: you knew that already © 2014 Scientific Revenue

7. bill@scientificrevenue.com Overarching: You’re Not Unique • We all have great ideas • We’re all busy • The key to success is, astonishingly enough, understanding this – Respect other people’s time and effort – Pay it forward and backward – Understand that everyone is doing their best © 2014 Scientific Revenue

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